Estate Agent Playing Games?

Little_Monster_3

Hi,

Just after someone elses view on our situation. We are trying to buy a repo but the ea is not being very helpful, or maybe this is the norm way things go?

We originally offered back in Jan, under asking price and it was rejected (very quickly though - told usually takes up to a week, couple of hours in this case). House reduced by 20k two weeks ago, were on holiday but rang with our offer again, told there was already another offer higer than ours that was being considered so they wouldnt put ours forward. Asked to be kept informed, they had already told us they would tell us when another offer was put in and hadnt, so I emailed them yesterday asking if any news. Replied saying still being considered, would let us know.

Fine I thought, until today when the house has been reduced by a further 9k!

Bit strange to reduce it when offer still being considered???

Doozergirl

Is the offer is less than the further 9k reduction then it wouldn't be illogical. If I were being put into a situation where I might accept a low offer it would make sense to move the asking price nearer to that offer to see if it was accepted.

If they take a while to accept an offer, you might expect them to ask for financial details to verify that offer. They will reject offers quickly if they simply aren't high enough, others they may ponder over to see if anything better comes in.

Ask the agent which publication the seven day notice is going in and the date of that publication. To be honest, they can usually be persuaded to tell you outright what the offer is as the lender is obliged to seek higher offers.

Little_Monster_3

The offer they are considering is not our offer though, apparently its alot higher than ours. Our current offer is still under the asking price but the asking price is now not far off what we are happy to pay for it but dont want to increase it to that point if / until we have to. We dont need to move and seeing as its already dropped 30k we are happy to wait to see what else happens.

They have told us which paper it will go in if the offer is accepted and checked our finances the first time we put an offer in. (or rather tried to sell us a mortgage through them)

Evee2000

Sounds as if they haven't put your offer to the vendor (which, they have a duty to do).
Other option is, get hold of the title deed (land registry) and contact the vendor direct? What have you got to lose?