Negotiating with the EA

LEEFTB

Chinkle wrote: »

Yes, they do sometimes make up rival bids, but you don't have to play ball.

Why would they accept your offer at £125K if its the same as another, are you are you in a better position? If so, you might still be in with a chance - £750 isn't a lot of money and if the seller wants to move quickly (e.g the other party may be in a chain).

If the other offer is genuine and you increase your offer yes I'm afraid they may then simply bid above £125K.

Really depends on how much you want that house.

I am in a position to proceed and the seller does want to move quickly. I spoke at length with the seller during my 2nd viewing and she seemed genuine. As you say £750 is a not lot of money and a property I viewed last month which is similar to this also went for £125k. I have agreed the £125k price and they are to take the house off the market immediately.

MMG

chucky wrote: »

how do you know where this person lives and if her area has had massive falls or even small drops in prices?

by looking at your footer - your predictions don't look the best...
50% falls by Christmas 2009?? that would be over 30% drops at -5% per month... you really expect that to happen?

Yes, this persons figures are very off. It's getting very grating reading their doomsday posting on each and every thread. Armchair expert, who probably advised everyone 3 years ago to buy anything to get on the property ladder, as they would only ever go up in value!

Sandra2

HI. Our friends were in a similar situation and you cannot prove the EA has made up a third party but the number of people who have experienced this means it cannot be genuine all the time. I suspect it's as you said - the vendors were looking for 125k and this tactic was a way of getting you there. I would prefer the EA to have simply said that but hey ho. As long as you are happy with the offer you have made and can afford it then hurrah and well done.

LEEFTB

Sandra2 wrote: »

HI. Our friends were in a similar situation and you cannot prove the EA has made up a third party but the number of people who have experienced this means it cannot be genuine all the time. I suspect it's as you said - the vendors were looking for 125k and this tactic was a way of getting you there. I would prefer the EA to have simply said that but hey ho. As long as you are happy with the offer you have made and can afford it then hurrah and well done.

Exactly. If they had said the vendor was initially looking for minimum of £126k but will compromise at £125 I would have accepted! I am happy with the result.