Received offers but worried house has been undervalued

property.advert

Have someone you know put a bid in for £265 and let the others sweat it out. If they don't come around, your choice to accept 250k or withdraw. Buy your mate a dinner out and tell him to put in a bogus offer.

Fire_Fox

property.advert wrote: »

Have someone you know put a bid in for £265 and let the others sweat it out. If they don't come around, your choice to accept 250k or withdraw. Buy your mate a dinner out and tell him to put in a bogus offer.

Surely there must be a law against that.

[Deleted User]

Thanks for all your advice. The EA isn't interested in doing sealed bids, and got a bit narky with me for asking him whether this was an option!

There's a cash buyer in our offers-list so I think we'll go with her to be honest and take the £250k - as you say, a bird in the hand is worth 2 in the bush. And I didn't mean to knock the EA...I was just questioning whether what they had done was worth £3k, that's all, especially that all five people found us via findaproperty themselves.

Now all we have to do is press the panic button when it comes to looking for somewhere for us!

Thanks for all your advice!

martindow

Deleted_User wrote: »

Thanks for all your advice. The EA isn't interested in doing sealed bids, and got a bit narky with me for asking him whether this was an option!

Going with a cash bid may well be a good option but you are paying the EA so you have the final say here.

The EA is going to make easy money as it is. If you ask for offers or sealed bids it is more work for possibly a small increase in their fee but maybe several thousand pounds more for you.

You decide!

poppysarah

Don't think of a surveyor undervaluing. Think of it as the EA overvaluing.

pie81

Deleted_User wrote: »

Thanks for all your advice. The EA isn't interested in doing sealed bids, and got a bit narky with me for asking him whether this was an option!

:eek: The EA is working for you. If you want to try sealed bids, they should run a sealed bid process.

Milliewilly

As a cash buyer I don't enter into sealed bids on principle. Maybe this cash buyer will feel the same way???

I would take the cash and negotiate hard on the one you want to buy.

redlady_1

No offence but all I see is greed. You said you wanted £250k, you have it and still want more. Take it and get on with your life.

Start playing games and watch those buyers drop away.

[Deleted User]

redlady_1 wrote: »

No offence but all I see is greed. You said you wanted £250k, you have it and still want more. Take it and get on with your life.

Start playing games and watch those buyers drop away.

Fair point, though I (me, personally) didn't say I wanted £250k. We had 'hoped' we'd get £250k but that doesn't mean we don't want a fair market value for it. We're just double-checking that value really.

If you needed £1000 and asked a friend to sell your £5000 car for you, you wouldn't be happy if they only gave you £1k because that's what you hoped for.

As it happens, we're going to sell at £250 and accept the offer. Maybe we've sold ourselves short - we'll never know. But that's house-selling I guess.

Milliewilly

Deleted_User wrote: »

Fair point, though I (me, personally) didn't say I wanted £250k. We had 'hoped' we'd get £250k but that doesn't mean we don't want a fair market value for it. We're just double-checking that value really.

If you needed £1000 and asked a friend to sell your £5000 car for you, you wouldn't be happy if they only gave you £1k because that's what you hoped for.

As it happens, we're going to sell at £250 and accept the offer. Maybe we've sold ourselves short - we'll never know. But that's house-selling I guess.

Its all relative anyway. With a cash buyer for yours you are in a strong negotiating position.