Is this an estate agent trick?

POPPYOSCAR

It depends how much you want the house. You could offer more and then the FTB beats it.It may be that they want to go with the FTB anyway as less chance of it falling through.You may have to be prepared for a fight on your hands.is this house really worth it?

daisbuys

I still think it's a bit suss though, as if I done the latter I think it would and could get accepted.

But we do want it as it's the only property out there for us at the moment and we need to move quickly.

But then again, could never compete against a FTB!

sonastin

If I've followed this thread correctly, your last offer was rejected in writing wasn't it? If that's the case then you would probably need to increase your offer even if this is all just and EA trick, as it obviously isn't as much as the vendor is hoping for.

You could respond with something like "sorry to hear that they have accepted another offer. Our best and final offer would be XXX. If the sale to the FTB falls through please get in touch". If the FTB is real and has made a higher offer, it gets you out of the auction, and if it is all just a game then you have an offer on the table which might be what the vendor is expecting.

Crispinator

Can I just say I find this an incredibly useful thread, as I'll be making an offer on a property in the next couple of days.

It's handy to see the games that EA's play sometimes! :beer:

betmunch

I think the FTB is real.

If you think the FTB is not real and that the EA is playing games with you then I would put your offer direct to the Vendors as someone stated earlier. Is this posible?

Let us know what happens in the end

daisbuys

betmunch wrote: »

I think the FTB is real.

If you think the FTB is not real and that the EA is playing games with you then I would put your offer direct to the Vendors as someone stated earlier. Is this posible?

Let us know what happens in the end

Yep, I'm starting to think the same now!

We are going to do what sonastin said and send them a return email stating that we were sad to hear that we were outbid and lost out on a lovely home, blah blah blah and here stands our best and final offer if it all falls through which will be on the table until we have found another property, upon then the offer will be withdrawn...

jockosjungle

There are other bidders out there, they are not all fictitous or nobody would buy houses. My personal opinion is you should chalk this one down to experience and find somewhere else. You can offer higher, then the FTB has to offer higher, all you are actually doing is making extra commission for this estate agent and making some other person in your situation pay more for a property.

If you'd had an offer accepted on a house, would you be happy that someone else was there making you up the bid? When you do find a house and had an offer accepted and then somebody comes in and bids higher (maybe after you've paid out costs) would you laugh about it and say "well we did something similar to a FTB, I suppose this is our payback!" or will you be annoyed.

My personal philosophy is never to get into a bidding war over a property, there is plenty out there for all. I put an offer in on a house, it was rejected, some other guy offered the asking price and that was rejected, it was just a low price to get people interested and start an auction

R

nollag2006

jockosjungle wrote: »

If you'd had an offer accepted on a house, would you be happy that someone else was there making you up the bid?

For better or worse, this is always going to happen in a rising market.

If you really want the house, go ahead and bid a few thousand more, but prepared to be outbid again by the FTB.

daisbuys

UPDATE....

Didn't get the house as there "really" was a FTB involved who did actually make a higher offer than me! And there was me thinking it was just a fabrication made up by the agent!!!

Well every cloud has a silver lining and here's mine:

The other house I mentioned earlier on in the thread, which is exactly the same house but not decorated as nicely, and an 5k extra asking price, well, I only got my first and final offer accepted and saved 26% off the asking price!!

Saved myself 25k with that, and all it needs is a modern bathroom and kitchen. Wish the FTB well in their house, as it is a nice house, but really glad they came and bought it instead of me now as I would have never have tried my luck with this house.

As the estate agent told me, "you have got yourself one hell of a bargain there Mr......"

iB1

daisbuys wrote: »

UPDATE....

Didn't get the house as there "really" was a FTB involved who did actually make a higher offer than me! And there was me thinking it was just a fabrication made up by the agent!!!

Just like buses - You wait ages for a buyer and then two turn up at once