What to tell Estate Agents?

househunter_3

Hello I am new.

I am looking to buy my first house and am unsure how much to tell estate agents in the area I am looking with regard to how much I can afford.

I can afford up to £200k, but do I tell estate agents that I can afford this, because I may be able to get a house advertised at that price cheaper. If the EA knows I can afford £200k would they advise the vendor of that?

Should I ask to see houses that are more than £200k, in case I could get them at a lower price.

Sorry if this is an obvious question, I haven't done this before.

Many thanks

househunter

Cristy

Hello and welcome

Most agents will take your 200k figure and automatically send you details of properties up to 5-10% or so higher or lower than this (even though I've had agents send me details of properties up to 25-30% higher/lower than my budget - timewasting exercise to be honest).

I wouldn't worry about them knowing your budget and then trying to pressure you to offer more. As long as you are clear on how much you are prepared to spend on a house, and what that house is worth to you, they can't physically force you to offer more. Always give the impression of being firm (even when you are doubtful) and you'll be subject to little or no mindgames!

NAR

Tell them you are a first time buyer.

You want a house with x bedrooms, garage?, garden? in your chosen area.

Price range of £150k to £180k. Ask EA what you can get in your chosen area for that money. I wouldn't tell them you could afford £200k unless there is nothing suitable below that.

househunter_3

Thanks Cristy & NAR that is very helpful

househunter