Weve put in an offer...its been rejected!

spirit

This is distinctly dodgy as others have said. Cut the mortgage advisor out completely.

Yes, the sellers agent does have to put forward all offers - silly or not, to the seller.

I would also add that these mortgage advisers 'linked' to EAs are rarely the best way to get a mortgage.

Read Martin's info on here about getting mortgages, but go to a Whole of Market broker who can look at all deals for you. L&C is one and I think they sponsored Martin's book on the subject, there are others I believe,

The trouble with advisers in EA offices (and some who are not) are tied to a select few lenders and not ALL lenders out there. As Martin's guide says, you will probably get a much better deal by contacting one of these type brokers.

poppysarah

Don't up the offer. Let them sweat.
Look at other properties.

jammajames

I had a similar experience; no matter how many times it gets said "nothing is free" is basically the best advice anyone can get. He's on commission so he'll try to get you to pay as much as possible!

DVardysShadow

Never ever [NEVER] get your mortgage or mortgage advice from anyone associated with the agent. Keep your lending side at arms length form the Agent. Remember, the Agent works for the seller, never for you as buyer.

g_attrill

spirit wrote: »

Yes, the sellers agent does have to put forward all offers - silly or not, to the seller.

They have to put forward any written offer though, hence why I made sure all my offers have been in writing. (small exception: where the seller has instructed the agent to not forward offers below a specific price, I doubt that happens often though)

I would agree with the other replies in that I wouldn't use the mortgage advisor to make offers, especially where the property is with the agent they work with. He might be completely honest and was just slack in calling you back, but if he has told the agent how much you can afford it's a bit late now, all you can do is increase your offer a tiny bit and stand firm.

evening_all

Right just an update on the house situation. We're now in direct contact with the EA and binned off the MA, for the time being anyway. He's going nowhere near our negotiations as I don't believe he should have anything to do with 'that' part of the house buying.

Basically we we're told we was wasting our time at £94k, the vendor has already put the house on the market cheaper than what the average price the houses are selling for in and around that area. Speaking with the EA, the vendor is extremely interested in a house around the area they currently live and need a certain amount to be able to move forward which the EA believes £102k will secure the house. We've made 2 offers today, 1 at £97.5k and the other at £100k flat. The latter being refused so we're going to wait until after the weekend, think about the position we're in and possibly offer £101k next week and see where that gets us.

Both myself and my partner really like this house and with us being first time buyers we don't want to get ripped off but if we can get this £4k cheaper by holding out until next week then so be it. My only worry is the EA says there's a cash buyer looking at the house on Wednesday, that could be a stumbling point but as we've not chain I still think we're in pole position if we want it.

motherofstudents

If I were the estate agent or vendor I would now know how keen you are to get this house - 2 offers in one day! There may be a cash buyer and you might lose it but something else will come along. I would have waited and let them think they might lose the sale.

evening_all

motherofstudents wrote: »

If I were the estate agent or vendor I would now know how keen you are to get this house - 2 offers in one day! There may be a cash buyer and you might lose it but something else will come along. I would have waited and let them think they might lose the sale.

Well that's exactly what we're doing now, we've informed the EA that the offer was our final one and we simply can not afford to go up 1 more pence. I've told the EA to let me know if they have a change of mind and that I will not be contacting the EA unless I see another house. Lets see how it goes.

keith969

At 100K you've met half way, I would not offer any more.

Best tactic is to arrange a couple of viewings with the another EA, tell the first EA that you are interested in another property on with XYZ and that you are not prepared to offer more than 100K.

Talk about a cash buyer is just that, talk.

pinkshoes

evening_all wrote: »

My only worry is the EA says there's a cash buyer looking at the house on Wednesday, that could be a stumbling point but as we've not chain I still think we're in pole position if we want it.

There's ALWAYS another buyer just about to place an offer higher than yours, according to 99.9% of EAs....

What did they originally buy the house for? (look on https://www.houseprices.co.uk)