it's official, EA's are COMPLETELY useless...

amcluesent

offer £165k, then 24 hours before completion gazunder with £150k, or you'll walk away.

Incisor

amcluesent wrote: »

offer £165k, then 24 hours before completion gazunder with £150k, or you'll walk away.

Somehow, I think they would see that coming. This is possibly why the EA phil_b is dealing with are giving such a cool [in the sense of chilly] response.

pawpurrs

amcluesent wrote: »

offer £165k, then 24 hours before completion gazunder with £150k, or you'll walk away.

Dispicable behaviour. Allways be upfront, messing people around is way out of order.

Treat others how you wish to be treated is the only way to behave.:mad:

phil_b_2

Thanks for your input. A detail I left out which would put a different slant on things is that the seller is a developer. They took the house in as part-ex.

I normally wouldnt offer £150k on a 185k property but in this instance took a punt beleiving they will just want to shift it. I was sort of right as they came back saying £160k... which was a surprise. It's perhaps what the part-ex value was.

I'd like to hold out for 150k but know 160k is very fair for the type of property and its location.

Like inciser says I probably Pee'd them off but was fairly happy to do so in this case. Hopefully they dont hold grudges for too long!

amcluesent

>Hopefully they dont hold grudges for too long!<

The developer will know he has a depreciating asset; I bet his working capital is shot to pieces...I wonder if he knows the EA is helping him towards going bust?

Incisor

phil_b wrote: »

... A detail I left out which would put a different slant on things is that the seller is a developer. They took the house in as part-ex.

I normally wouldnt offer £150k on a 185k property but in this instance took a punt beleiving they will just want to shift it. I was sort of right as they came back saying £160k... which was a surprise. It's perhaps what the part-ex value was.

I'd like to hold out for 150k but know 160k is very fair for the type of property and its location.

This is where you need to enter negotiation with a walk away price firmly in mind, beyond starting off by taking a punt [which was fair enough BTW]. If your walk away was say £157,500 I feel you would not be posting - you would have made an offer which was accepted or you would have had £157,500 rejected.

As it is, you are now left dangling by the EA. You may be able to get it for £145,000 in the longer term, but that would be a few months away, when someone else could have taken it in the mean time. You have the emotions of 'this is the one' but you are acting as a wheeler dealer. If you are going to do wheeler dealer, you must finish by walking away and trying the same on other properties. Otherwise the EA will play his games around you, whichever property you go for

geoffky

nothing wrong with gazundering...its acquiring a asset at a price you are happy with...gazumping was ok on the way up because of suppy and demand its the same in a falling market...

Incisor

geoffky wrote: »

nothing wrong with gazundering...its acquiring a asset at a price you are happy with...gazumping was ok on the way up because of suppy and demand its the same in a falling market...

/sits and waits until geoffky is gazundered.

pawpurrs

geoffky wrote: »

nothing wrong with gazundering...its acquiring a asset at a price you are happy with...gazumping was ok on the way up because of suppy and demand its the same in a falling market...

Sorry I dont agree with either gazumping or gazundering, if something major comes up at survey then thats a different matter, Offer what you are prepared to pay for the house considering all circumstances, and stick to what you agree, the seller will have based the price agreed to what they can afford to buy the next property.

bluejake

phil_b wrote: »

Thanks for your input. A detail I left out which would put a different slant on things is that the seller is a developer. They took the house in as part-ex.

I normally wouldnt offer £150k on a 185k property but in this instance took a punt beleiving they will just want to shift it. I was sort of right as they came back saying £160k... which was a surprise. It's perhaps what the part-ex value was.

I'd like to hold out for 150k but know 160k is very fair for the type of property and its location.

Like inciser says I probably Pee'd them off but was fairly happy to do so in this case. Hopefully they dont hold grudges for too long!

Your initial offer was too high. If your max price is £150k you should have offered £130 or £140 so you can move upwards a little to meet their price. And grudges have nothing to do with it, contrary to what anyone on these boards say, if the price is right they'll take your money. Don't lose your bottle now, your in the driving seat - don't act like a sucker drive the price down further and be prepared to walk away.