Putting in an offer and avoiding EA's!

aimex

Hi guys

Am thinking about putting an offer on a house which is on the market for £220k....how low should i go?! can afford £200k but was thinking £280/285? what do you think?

Is it also worth writing to seller/telephoning them and trying to get them to sell without Estate Agents, and saving a few grand that way too? how does it work - ie would they have to take their sign down for a few months first?

thanks as always!

xx

Mutton_Geoff

An estate agent can claim that they introduced a purchaser to a property simply by way of their sign outside or a photo in their shop window. The vendor may also not be willing to co-operate in your plan.

Don't bother with a paper trail, knock on the door and say their sister/brother/uncle told you the house is for sale whilst at the same time winking frequently with your left eye. Most agents contracts (though not all) let the vendor sell to their own contact without fees being liable.

If the agent is part of Countrywide PLC, then the vendor can forget it, they will be clobbered for fees.

ginvzt

aimex wrote: »

Hi guys

Am thinking about putting an offer on a house which is on the market for £220k....how low should i go?! can afford £200k but was thinking £280/285? what do you think?

Did you get your numbers right? You don't really thinking of paying £280/285? It should be £180/185, right?

I would go in with £180k, and I don't that is ridiculous. Maybe would try £175 first, as there is no stamp duty for that... It is not your business if the vendor has to pay EA fees. You were introduced by EA, so I think the vendor would still have to pay up.

Baz_2

Identical houses to ours on our estate are being marketed for £225 at the moment. If I got an offer of £175k or £180k I think I'd tell you where to go. I would have to seriously consider an offer of 200k or just above that though.

20% below the asking price is a bit of a liberty to be honest. Assuming it is remotely sensibly priced.

ginvzt

You cannot disregard any offers at the moment. £200k would be final offer - I would not offer a penny more. To start lower is nothing wrong. And if you want to tell people where to go, then I am not sure I would like to buy from you. Besides, there are still people who want to get more than the same houses as theirs were selling last summer.

How long was the house on the market? Has it been reduced at all in that time (if it was, I still wouldn't care what the initial price was though).

Baz_2

That assumes the vendors need to sell though. If they don't need to sell, they can quite easily take offence to such a low offer and disregard it very very easily.

As I said assuming it is sensibly priced.

Ian_Griffiths_Halifax

If you have seen the house through an Estate Agent, then put the offer through them. If, however, you get a poor EA who messes you about, then go direct to the vendor.

How would you like it if you turned up at work on pay day, you'd worked all month, then found that somebody had spoken to the Payroll Dept and said 'I'll just pay you for these widgets I want and cut out the guy that made them so you can charge me less' what would you say to not getting paid?

TomsMom

aimex wrote: »

Is it also worth writing to seller/telephoning them and trying to get them to sell without Estate Agents, and saving a few grand that way too? how does it work - ie would they have to take their sign down for a few months first?

thanks as always!

xx

But you wouldn't be saving the few grand would you, it would the sellers but I doubt that their contract would allow it. I've recently sold my property through an agent (and luckily a very good one) and in the Ts and Cs was a clause that said even if the purchaser came from another source they would be entitled to their fee. Presumably you found this property via a sale board/agent's internet site/agent's window so therefore the work the agent put in brought about a willing purchaser and they deserve their fee.

pawpurrs

I dont see how people can comment on how much they would offer on a property they have not seen.
For example you could have a house for sale that was very realistically priced (given the market condtions) and one that is way over priced, how much you offer on each would be different. Ok people will allways want to make an offer, but the vendor has to accept for it to go ahead, theres no point saying allways offer x below, and no more when it could be on for a good price anyway.

aimex

Thanks for the comments, some very helpful ones in there. Re estate agents i meant its bargaining tool as sellers would not be paying it and so was thinking that may be helpful in lowering price.

I dont want to be cheeky and put in a silly price but at the end of the day the market is shocking and so wonder if it would be worth it. I am not registerd with any Agents etc but have seen sign. Agents fees are ridiculous for the amount of work they do IMHO and their attitude!

(i did mean £180/5 by the way!oops)

Thanks guys

xx

chickmug

aimex wrote: »

Is it also worth writing to seller/telephoning them and trying to get them to sell without Estate Agents, and saving a few grand that way too? how does it work - ie would they have to take their sign down for a few months first?

Here we go again someone doesn't like EA's so lets shaft them for their fee.

As I keep saying, in my other posts, it is people like this that make the fees higher for those that accept their obligations. If someone tried this with me I would move heaven and earth to get them in court to get them to pay up.

And to cap it all in the same thread fron the OP - how can I get away with paying the commission and saying how bad EA's are. Double standards mate as you are no better than the EA's you criticise. :mad: :mad: