Can a buyer offer to pay the Estate Age

Tony_R

Hello,

A month ago or so ago we viewed a house which we really like. Four months previous it had sold for £250,000, but that fell through as they buyers could not wait any longer.

It was put back on the market for £275,000. We offered £250,000 which was rejected but we left the offer on the table. A week ago the estate agent came back to us saying the sellers were now considering our offer, but then changed their mind again.

We then offered £2,000 for fixtures and fittings on Wednesday, which is realistic for what they are leaving. The woman of the house said it was a good offer and it was likely to be accepted but needed to clear it with her husband. This was rejected today, saying they want nearer £260,000.

Now I'm going to leave it for a week or so, before going back. I don't really want to increase the fixureres and fittings offer, as there isn't anything with that.

But a friend gave me an idea of offering to pay the buyers EA fees, is this allowed?

G_M

What's the point? Why not increase your offer by the amount you think the agents fee is?

Tony_R

We think they will accept £255,000 or £256,000. But if we offer that we would have to pay an extra £7,500+ in stamp duty, which ideally we do not want to do.

tabskitten

wish i could find a nice buyer like you
the sellers dont seem very motivated to sell and i think this is your main disadvantage here

Cat695

Hold on they failed to sell it at 250 and now want 275.....and you are willing to offer more than 250....sorry I must be stupid but someone is taking you for a joke.

And people wonder why house prices have gone crazy!

Ulfar

Wait some more and look at some other properties with the same estate agent.

Tony_R

I saw another house with day with them the other day. They also know I saw two today with different agents. One of which is on the same road, is cheaper but needs a lot of work. I quite liked that one as well.

Fire_Fox

Tony_R wrote: »

Hello,

A month ago or so ago we viewed a house which we really like. Four months previous it had sold for £250,000, but that fell through as they buyers could not wait any longer.

It was put back on the market for £275,000. We offered £250,000 which was rejected but we left the offer on the table. A week ago the estate agent came back to us saying the sellers were now considering our offer, but then changed their mind again.

We then offered £2,000 for fixtures and fittings on Wednesday, which is realistic for what they are leaving. The woman of the house said it was a good offer and it was likely to be accepted but needed to clear it with her husband. This was rejected today, saying they want nearer £260,000.

Now I'm going to leave it for a week or so, before going back. I don't really want to increase the fixureres and fittings offer, as there isn't anything with that.

But a friend gave me an idea of offering to pay the buyers EA fees, is this allowed?

Paying the estate agent fees to get away with stamp duty is classed as tax evasion as is offering on contents that are not worth the money (£2K should be fine). Even if you offer another K or two chances are you will come back undervalued by the surveyor.

Are you in a proceedable position (under offer/ chain free/ MIP)? If so put your offer to the vendor in writing, stating your reasons and your strong position - seriously no buyer is going to pay just over £250K plus stamp duty - and state that your offer remains on the table. Speak to the estate agent candidly and ask them to put pressure on the vendor, they know it won't sell for that price.

Tony_R

Thanks Firefox. I thought it probably was classed as tax evasion and didn't feel comfortable with the idea anyway. I will hold my ground.

We are first time buyers, no chain (not even a rental), a 20% deposit and a MIP with the Abbey, we actually have a full mortgage agreed for another property that fell though about 6 weeks ago. I have already told the Estate Agent verbally our offer remains on the table, but will it being in writing make any difference?

I'm quite tempted to withdraw the £2k "fixtures and fittngs" offer and just leave the £250k on the table actually.

poppysarah

You know if you up your offer they will want more.

Stick to 250 or drop it 10k.

Sooler

Tony_R wrote: »

We think they will accept £255,000 or £256,000. But if we offer that we would have to pay an extra £7,500+ in stamp duty, which ideally we do not want to do.

Surely because of that they'll never get an offer of £256k. Never going to sell it.

Thought the EA said they were considering your offer of £250k?

Do they want to accept it or not? Seems not - withdraw the offer and walk away.

As for the previous sell falling through due to the buyers - wouldn't believe a word of it, more like the sellers peeing about.