I bought a house - then it was taken away :(

diable

hebawom wrote: »

I so wanted to offer less, but it was made clear to me that the vendor wouldn't go for the original offer, so it was 500 pounds more than last offer.

I was a bit annoyed, but this is the house I want. And 500 pounds over 35 year is like an extra 1 pound a month on the mortgage!

The cheek of the estate agent though - She rang me the day after I put in the offer (I told her this was my final final offer) and she says, "The vendor has asked me if you'd go to 95" - I says "No, I told you already 94 is my best" - and immediately she says "Oh right, well they'll accept 94 then" - just pure cheek, trying to squeeze every last penny out of you. I know it annoys people when I say this, but I have such a hatred for their profession can't wait till I don't have to talk to them again.

Anyway, in the big scheme of things 500 aint alot as I'm intending to overpay at least 200-300 a month .....but I'm getting ahead of myself already - lets at least wait for the survey until I get excited about it all!!!

EDIT: I had to search Urban dictionary for PITA!!

Maybe you should call the EA and say that you have found something better for £92k with a competitor and see what they say.....

Gwhiz

hebawom wrote: »

What are you talking about?
I tell an estate agent my absolute final price which I stressed to them was my final price. And they come back with a counter offer which I refuse and they immediately accept my original offer.

Giving money away??

If I was a seller, if the estate agent said his final offer is 94 I'd consider it and either say yes or no. But if the estate agent said - he said 94, but I think we can squeeze him - leave it with me, then of course I'd try and get it to go up!

You should stop getting emotional and understand this is just a business transaction. With experience you will realise that "my last offer" does not necessarily mean "my last offer" and the EA is looking after the interests of the seller... not you! I've had many situations where a buyers last offer has been anything but the sort!

chickmug

Gwhiz wrote: »

You should stop getting emotional and understand this is just a business transaction. With experience you will realise that "my last offer" does not necessarily mean "my last offer" and the EA is looking after the interests of the seller... not you! I've had many situations where a buyers last offer has been anything but the sort!

You hit on a good point.

Very few are very good at playing this 'making an offer' business. It is common to hear "my final position/offer" from buyers/sellers for it eventually to be somewhere totally different.

I only ever dealt with the odd really good negotiator such those who bought and sold at a far fgreater frequency than average and got a buzz from doing so. Even those in serious world travelling negotiating jobs failed to do it well for themseleves.

pinkshoes

I would wait until the day before exchange of contracts, and knock them down to £92k. See how they like it...

Were there no other properties you liked at all?

Gwhiz

pinkshoes wrote: »

I would wait until the day before exchange of contracts, and knock them down to £92k. See how they like it...

Were there no other properties you liked at all?

Whilst I can understand the motivation, why lower your standards to the gutter? Better to negotiate hard up front and keep your integrity intact!

Cissi

hebawom wrote: »

If I was a seller, if the estate agent said his final offer is 94 I'd consider it and either say yes or no. But if the estate agent said - he said 94, but I think we can squeeze him - leave it with me, then of course I'd try and get it to go up!

And that's precisely the EAs job, to negotiate as hard as he can with the buyer on behalf of the seller! As Gwhiz said, it's a business transaction, and as such you need to be more thick-skinned.

Don't get me wrong, I think there are a lot of incompetent EAs out there (as well as some fine examples, several of which are very helpful on this board) but I also feel that a lot of people are blaming them for the wrong things

hebawom

Well, at the end of the day, I want the property. And am happy to pay the price we agreed. I wouldn't gazump the seller for one reason alone....I want this property!!

I see what you're saying about people's "final offer" - I guess I'm showing my naivety here. When I said my final offer, I actually meant I couldn't go above that price!!

mel19632

The Estate Agent gets paid to do the absolute best job they can for the vendor.

How would you feel when you come to sell this house in the future that you accept an offer and two months later when you complete on the sale you bump into the new owner and it turns out that they would have offered £5k more if the agent had negotiated harder on your behalf but didn't as didn't want to appear 'cheeky' you would be calling them all sorts of names for a different reason.

This is just an agent doing their job.

NJW69

"When I said my final offer I actually meant I couldn't go above that" but then you did, given only by £500, but why would they not try and get as much as they could. If it was your house you would want as much as you could get.

IDProtected

hebawom wrote: »

Little update on my situation. The guzumpee dropped out of the sale and the EA came crawling back to me and asked if I was still interested. I've now applied for a mortgage and had it accepted dependent on a good valuation.

I'm not in a chain and neither is the seller, so I'm hoping this is going to be pretty quick! I got it for 94000 in the end and am taking a 80000 mortgage.

That would be the Gazumpor then, he gazumped you, you were gazumped by him, so you are the Gazumpee!