EA discloses bid for house

Gorgeous_George

Almost the same as my situation.

I made an offer on a repo house that had been on the market for almost 6 months. A few days later another buyer made an offer. I refused to play ball and walked away. I had no chain, mortgage agreed in principle. Fortunately the new offer came in before I wasted more of my time and £350 for a survey.

It all comes to he who waits.

GG

MissMotivation

There is no law with prevents an EA from disclosing the value of an offer from another party. What everyone is forgetting is that the EA is acting for the Vendor and their job is to get the best price possible.

No-one can force you to pay over the odds for a property. Make an offer based on what you feel it's worth to you and forget about the other offers. Only you can decide whether it's worth paying more for, if you lose it to another party then it wasn't meant to be.

jonewer

Its easy to tell if an estate agent is lying. If they move their mouths and sounds come out, that how you know!

missb123

That is assuming there is another offer....Im sure they must make up fictional buyers/offers to get you to up your price.
But yeah, set your stall out and stick to it.

MissMotivation

jonewer wrote: »

Its easy to tell if an estate agent is lying. If they move their mouths and sounds come out, that how you know!

Wow.....that's original! :beer:

chewmylegoff

i put a bid in on a property in june 2008. went something like this:

me: £290,000
EA: that's too low, but i'll put it to them.

next day:
EA: rejected your offer. we've had another bid for more.
me: ok, well my offer won't be increased unless you tell me how much the other bid is and what position the buyer is in
EA: no
me: bye

next day:
EA: other bid is £298k buyer has to sell their house
me: i bid £290k
EA: blah blah blah

next day:
me: i withdraw my bid
EA: but i was just going to tell you your bid was accepted
me: no
EA: they'd take £285k

i walked away at this point as i'd decided i didn't really want to bid on it. different environment to now, but it amused me nonetheless.

property came off the market the next day, went back on a couple of weeks ago for the same price.

dander

Aside from all the moaning about estate agents, the estate agent has told you some useful information here.

As well as telling you the amount, he's told you that the other person hasn't sold and therefore is not proceedable at this stage. The vendors are very unlikely to accept that offer until the buyer can actually proceed so there's no point getting into a bidding war.