Offer...Is it genuine??

betmunch

If you have shown an interest in the property, which you have by offering, then it is good practice for the EA to call you when there is a new offer so that you have the chance to increase your own offer. They have a resposibility to the Vendor to get the highest price they can, and this may result in you offering again.

There is no hard and fast rule about how much under the asking price you can get as every house is marketted and priced individually. I dont feel that 8% under is alot to ask, but if there is other interest as implied by the EA then you would expect the Vendor to hang on for a higher offer.

You have implied that you will come back with a better offer after being refused so (in my opinion) the EA has done something to make you think it must be a vastly improved offer. The question is: Is the EA bluffing?

RX-78

You could let them sweat a little bit and wait for few days. After all, even if the other offer is on the table a few days will not make much of a difference. We are in a process of buying (sill!) and it took us about 18days to get formal mortgage offer & survey done. And I'm told that was reasonably quick.

KS1977

I still don't understand why the vendor dropped the price down by 3000 a week ago, if he knew that he had this offer on the table from these buyers. It just doesn't add up. I have looked again on Rightmove and it still says it's for sale. Does anyone know how long it takes for the house to be registered on the internet as sold. I have seen some houses before and a week later they have SSTC on the website as soon as sold :-)

cuthbert_the_octopus

Some EAs dont change houses to SSTC.

I think it is to encourage people to call about the property (esp if you think it has been on the market awhile!), and then they get all your details. Oh and then they tell you the house that you are interested in has been sold!!

As to why they may have dropped the price. If the 1st offer was from people still trying to sell their house, they may want to drop the price, to get an offer from someone who is ready to proceed. It maybe that it has happened to coincide with the 1st off now being ready to proceed.

You could call from a different number / change your voice and pretend to be a new customer calling about the house you like, and see what they say the status of the house is..... i guess kinda mystery shop the EA.