seven offers???

busydaffodil1

poppysarah wrote: »

the nile... d'nile...

now that seriously did make me laugh out loud! Very funny sarah.

MORPH3US

EA's are full of s*it.... (in general, not all)

At the end of the day its their job to get the highest offer for the property possible because a) they get paid by the vendor and b) because they get paid a percentage so higher price = more cash for them!

Unfortunately OP, you have to be prepared to lose the house. Just leave your offer on the table (make sure the EA passes it on to the Vendor) and then keep looking.

I guarantee if you lose this house then you'll find somewhere else better....

Let us know how you get on.

TopKat*1

shall i leave my offer on a repo on the table? even though they have said someone has offered more?

Kez100

We had one house locally need work doing and went on the market with a guide price due to difficulty in valuing. They had five offers really quickly. They decided to give a deadline date for all interested parties to make their best offer, retaining the ability to choose whomever they wanted (not necessarily the highest).

Two pulled out but three went for it and the sellers were really pleased with what they got. I still don't know if they chose the highest or the better positioned buyer but it went through and I thought it quite a clever idea as it made everything much quicker - negotiating with five potentials would have probably taken ages.

TopKat*1

thanks kez100, i suppose it is in their interests as it will encourage people to offer more as their best and final offer. What I dont understand is that this house has been on the market for nearly8 months not much interest from people able to proceed then all of a sudden there is

skap7309

TopKat*1 wrote: »

What I dont understand is that this house has been on the market for nearly8 months not much interest from people able to proceed then all of a sudden there is

This is exactly why i smell a rat. Ensure the EA passes on your original offer and take it from there.

TopKat*1

well what i have decided to do is just wait, they said after the 7 days which is next week they have to decide what offer to accept, if there isnt another offer then i assume they will accept ours??? if there is well so be it we will continue searching

fatpig_2

pettelly wrote: »

. We offered 320k and the estate agent told us that there have been 7 offers with ours being one of the lowest.

!

Beware these people would rob their own grannies. So telling you pork pies about imaginary offers would be par for the course

skap7309

TopKat*1 wrote: »

well what i have decided to do is just wait, they said after the 7 days which is next week they have to decide what offer to accept, if there isnt another offer then i assume they will accept ours??? if there is well so be it we will continue searching

These kind of threads usually end in 'out of the blue the EA phoned me to ask if my offer was still on the table'.

Good luck and let us know how you get on.

pettelly

Thanks everyone for all the advice.

The EAs got back to me that the vendors are moving ahead with a higher offer. Just have to wait and see what happends. I'm comfortable with the price we offered - I looked at how much houses on that road sold for previously and even in 2007 they weren't reaching 400k and the house would require quite a bit of refurbishment. We are mainly looking for a house to live in - but this is our life savings so want to make sure we also spend it prudently.

We're going to make another offer on a house that also needs work. They're asking for in excess of 350k. However, for that house it would be worth stretching because they were selling for that amount around 2003/2004. Smaller house but better location than the previous one. They had an open day that was mobbed! Seriously, about 30 people were there so I'm not holding out much hope that a 340k offfer will be accepted, but worth trying!!