HI!! FTB seeking advice on my current situation - Slimy EA?? You decide!

skylight

Why dont you just walk? EA's love first time buyers - cos they get so fixated on a single property they keep upping their bid.

I assume that you have decided what your maximum really is? (taking into account fees and re-decoration costs etc?????)

There are plenty more properties around.

:username:

@charlotte664:
We have set our maximum and we are below it including fees. We are however begining to eat into our redecoration costs.....
Its so hard to drag yourself away from a house at this stage......although walking away maybe the only option left if things haven't improved by tomorrow!

hechizero

It sounds like you have been lead a merry way down the garden path. You already mention earlier that you had bid £3000 over the asking price and now you have added more...does not sound wise to me. Whatever the outcome: good luck.

LeanneF

Do you know why the last successful offer pulled out? Might it be related to the low asking price?
Last year I got into a bidding war looking for my first place. The winner offered over the asking price. A while later they pulled out due to personal circumstances & we jumped at the chance to pay the full asking price. One survey & a solicitor's bill later it turns out the lease was a load of old pony and we also pulled out.

Good luck & keep a cool head...I know from experience that its very difficult but try to avoid trying to second guess everyone else's next move, you'll send yourself crazy.

Careful_girl

Na don't physically waft your AIP about just didn't want you to suddenly start looking for mortgages. It is all about being serious. Don't know what to suggest. Just decide how much you will pay and offer it. My buyer matched the higher offer of another but on the proviso that we took it off the market and that we didn't ask for £10K more the next day. You want the EA to be saying to the vendor not to lose you.
Good luck!!
CG.:j

Xbigman

Have you had a survey done? There may be a reason the house is undervalued.
My brother just bought a bargain priced house and I'm not saying the floors aren't level but I get seasick walking across the front room:eek:
Regards



X

terrierlady

ask the agent is there any know history to the house, by law they have to disclose it, ie if a survey has been done and thrown up a problem of which they have knowledge etc. Agents only answer questions they don't supply reams of details etc so ask ask away and sometimes things happen for a reason ,there are many homes about and especially for FTByrs so decide if you want to continue /otherwise then walkaway.
House buying is STRESSFUL double time and more so for seasoned buyers who get involved in chains etc maybe just maybe the vendors are involved in a situation you know nothing about and thats what is controlling their actions.

UK007BullDog

Walk away, walk away, walk away!!!!!!!

Next might come the survey of the property and it might be down valued to £125,000.

You have no relationship with the EA or the Vendor. The old couple want to get as much for the proeprty they can as they are probably using it to fund their retirement.

The commission for the EA will be bigger the higher the amount sold for.

Dont overstretch yourself, think of the rate increase, and use your head not your heart. Is the property really worth it to jeopardise your relationship with your partner due to money problems in the future?

You dont know who you are bidding against, dont waste your time. It all sounds very contradictory with no viewings at first and now the whole world wanting the property.

mrcow

UK007BullDog wrote:

Walk away, walk away, walk away!!!!!!!

I can't help but agree. I think that you are getting emotionally involved here which is dangerous where bidding is concerned.

Once I'd accepted an offer on my house, I stopped viewings. That's because I'm a fair and reasonable person and the offer was a fair and reasonable one. Who's to say that the vendors aren't going to repeat this performance six weeks doen then line when you've invested in solicitors, local authority searches and surveys? They sound unsafe vendors to me who are not afraid to gfo back on their word if more money came along, and I personally would not want to complete the most important transaction of my life with sellers like this.

How do you even know that there are any other intested parties? How long has the house been on the market? There are thousands of houses that will be up for sale in your area, many of which will be ideal for you, at the right price and with the right seller.
Tell them to stick their house and move on. You have the potential to be ripped off royally here..................

lush_walrus

As others have said I would simply walk away, or at least continue searching around for another property to line up just incase. I know everyone likes to EA bash, but at the end of the day this situation is very often vendor led, the EA just wants to get a sale that will go through and then their commission, the odd £1000 rise here or there is pretty irrelevant to the EAs fees (at 1% or even 2% will only slightly adjust their fees in EA terms) and just delays the date they will get their money.

If you were selling the property and received a lot of interest, what would you do? Hold out for the highest price? I would. It seems to me the EAs have made a mistake and undervalued the property, got more interest than expected and so the bidding war starts.

If I were you I would just move on, unless if you feel that it is really worth up to £140,000 then stay in till it gets to that price...But the important bit is to keep looking!