Is this an estate agent trick?

daisbuys

Radsteral wrote: »

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

This is the kind of past experiences I wanted to hear of!

Thanks :beer:

Anyway, from everyones posts I decided that I am not going to make contact at all now, and will hopefully wait for their return call sometime in the next week?

In the meantime I will start enquiring about a doer upper which will need approx 26% off the asking price :eek:

I shall keep you all updated.....

Henry_P_Chester

I made an offer on property in febuary. It had been on the market for over a year with no offers. I offered about 15% below asking which was rejected, I upped the offer to 10% below asking and was told by the agent that an another offer had been recieved higher than mine that day but with another agent (it was marketed by 3) I said there was no way I was prepared to pay more and left it at that. I then phoned both other agents expressing interest and asked if any offers had been recieved, both said no. So the agent was creating ficticious offers. I believe it's quite a common practice. The house in question is still not sold. Although in this case I think the vendor was being stubborn and the agent was just desperate to get a sale so tried every trick in the book! About a week after I ended negotiations the house was removed from the market with the agent I dealt with, I think they must have disagreed on what the house would sell at so the agent have up marketing it.

It's still for sale with the other two agents, maybe in another 6 months I'll try a lower offer once the market has dropped further. The zoopla valuation is already down £7k since I offered!

In the OPs position I would walk away. They will probably call you back although you have to be prepared to lose the house with this tactic. Plenty more fish in the sea though, don't pay more than you think it's worth.

DVardysShadow

Radsteral wrote: »

... 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

Dear EA

I confirm your call of <date & time> in which you advised that our offer of <amount> on <property> has been rejected because of a better offer from <whoever>. Should the offer fall through, I would advise that our offer stands until <date & time>

Yours etc

Most importantly, copy to vendors through door of property in question.

C_Mababejive

Maybe you should confirm your offer directly in writing with the vendor just so that they are kept in the loop?

jockosjungle

To be honest I wouldn't do something like Radsteral did, you never know when you might need that estate agent again and they'll remember you messed them around. you don't want to be barred from all houses from an EA just to get your revenge!

R

not_loaded

DVardysShadow wrote: »

Dear EA

I confirm your call of <date & time> in which you advised that our offer of <amount> on <property> has been rejected because of a better offer from <whoever>. Should the offer fall through, I would advise that our offer stands until <date & time>

Yours etc

Most importantly, copy to vendors through door of property in question.

Norty, norty! But fun!

Radsteral

jockosjungle wrote: »

To be honest I wouldn't do something like Radsteral did, you never know when you might need that estate agent again and they'll remember you messed them around. you don't want to be barred from all houses from an EA just to get your revenge!

R

i deal with clients and prospective clients in daily bases . what i have found is that if there is no trust with one of my clients i wouldnt want to work for him anyway, no matter how desperate i am.

maybe from both of these estate agents, the ''new first time buyer with higher offer'' came up as they saw i had the deposit, quite a bit income and sounded desperate when i said '' i am on a free runing tenancy and can pull of it anytime i want''

not soo naughty ..albanian by nationality but like the irish one ''an eye for an eye' ' even though i know is not that sensible

not_loaded

Going back to the basics on this, the property is on at £nnn.

You’ve mentioned: ‘We are only 5-7k short of what he is asking, while the agent indicated that the FTB's were only 3k short.’

There’re two possibilities here:

1. The vendor is stupidly holding out for asking when apparently the FTB is only £3k shy of it.
2. The EA is painting a picture in order to show the vendor how wonderful he/she is.

I favour the latter.

So, ‘the buyer wishes to complete within 6-8 weeks’? It doesn’t add up does it?

POPPYOSCAR

I dont trust EAs at all.

We paid a £500 deposit which we were assured by the EA guaranteed that the property would be off the market and which was nonrefundable if we pulled out.Just about to exchange contracts when EA came back and told us that someone else had made an offer.We were lucky we had a brilliant solicitor, we matched the offer said we were not prepared to get into a dutch auction and we exchanged.The EA then came back and offered to buy the contract from us when we refused he said he would have to let the seller know and tried to frighten us that there may be trouble ahead. Our solicitior went mad but to cut a long story short we completed in the end but not without a lot of heartache and worry.Both solicitiors involved were brilliant and not at all impressed by the antics of the EA to say the least!

daisbuys

Well the EA got back to me today and simply said that the offer was accepted of the FTB over the weekend

Should we tell them thank you for notifying us and if anything changes please feel free to notify is?

Or

State that we are a slightly dissapointed as we were going to offer a considerable higher ammount?