Is this an estate agent trick?

daisbuys

50/50 split if I should contact them on Monday then.

The problem I have is that I am impatient at best of times, so trying to refrain from contacting them on Monday will be a tough one!!

There is another house identical to them on the same street, but is in need of modernising throughout and doesn't have a garage, and is also on at 5k more. But having viewed this property and spoken to the vendors I am wondering if they would be willing to take a big drop in price just to move. As they are pensioners with no mortgage and are looking to relocate 100+ miles to be closer to where their sons and daughters are living. Their house has been on the Market for 4 months now with very little interest (as far as I am aware).

So I think maybe, I could contact the agents on monday with the same offer, but with a deadline in place and pursue this other property at the same time which is on at 135k and maybe enquire and test the water with the agents to see if the vendor would consider taking 100k if an officail offer was put in?

jockosjungle

Nobody interested and then a FTB puts in an offer pretty much the asking price. If I were you when they phone back say that if I wanted a property auction I'd have gone to one and wish the FTB luck with his new house.

I would also think twice about using the EA for further house buying, but sometimes it cannot be avoided

property.advert

Offer your original offer to be accepted in 24 hours or it reduces £XXXX per day !

zappahey

daisbuys wrote: »

We requested the same day to view other properties on their books after they said we needed to up the offer. They didn't flinch at that, which I found suprising

Why would you expect them to flinch. They are professionals and see this all the time.

daisbuys

zappahey wrote: »

Why would you expect them to flinch. They are professionals and see this all the time.

Very true.....

Well I got an official letter of the agents today saying that out first offer had been rejected which was 10k short of asking, and that our other offer has also been rejected by the vendor which was 7k short of asking.

No words of having a higher offer from a FTB at all?

This is how the letter is written:

I write to confirm that your offer of £xxxxxx for the above property has been rejected by my vendor clients.

If you wish to continue negotiating for this property please contact me. In the meantime I will continue to send you properties that suit your requirements.

I could go up another 3k so it is only 4k short of asking but think I will give it a week before I come in with that.....

nollag2006

Again, I would counsel absolutely no contact with them - doesn't matter how impatient you are. They will call you on Monday or Tuesday. Do not answer the call, and then come back to them later in the week to say you can't go any higher.

These are just typical negotiation tactics from EAs.

poppysarah

And in the unlikely event someone else is interested, don't fight them for it. There's plenty of other properties out there.

nollag2006

poppysarah wrote: »

And in the unlikely event someone else is interested, don't fight them for it. There's plenty of other properties out there.

True. In a rising market, like the current one, its too easy to get caught up in a bidding war.

brit1234

nollag2006 wrote: »

True. In a rising market, like the current one, its too easy to get caught up in a bidding war.

Or falling market as it has been the last 2 months.;)

Radsteral

being first time buyer , i thought the vendor/estate agnt would first make sure if they have the deposit and mortgage arrangement in place, knowing how hard is for first time buyers now.

when i bought 4 months ago, i was told the same twice for 2 properties before ... you need to up your offer as someone else did offer more..today .
i went and found another one and commited to that one straight away with the condition that is pulled of the market.. 3 days latter both estate agents of the 2 previous properties called..and called and called..
i called back to ''say how sorry i was that i missd their calls and arranged for another viewing(which i knew i would never go) when they called in freezing february saying they are waiting there for me to turn up - i offered 30k less than i had offered..
.. no more calls and i m sure they got rid of my number and email the very same evening
sometimes when they try to have a bigger bite they end up with nothing .
poor vendors though- they found a buyer and that buyer runs away because silly EA tactics

stick to your guns