Help, is the EA telling the truth?

Angela_D_3

It will always go up in the long term but what if you need to get your hands on the capital and the market isn't favourable ? For 10% i'd say it was worth the risk, for 5% i'd be sticking to an ISA.

Christal_2

HI Angela (guess who has the same name........), well I agree if you need to get hand on the capital then the position won't be very good, house sale takes months to complete and comes with lots of hassle.

But what if you don't need? The way I look at it is both me and hubby are working, we won't go on long unpaid holidays, we won't be buying anywhere overseas, we both don't like flash cars or other expensive things which can cost us more than 10000 at once, and what happens to the saving we will be making from now to the time I need to get hold on some money? Obviously if one of us lost job (touch wood) or fell really ill(touch it again) then we would have problem to make the payment, then it's the time to sale, we can't blame anyone but ourselves.

robuk_3

Firstly EA's are bound by the Estate Agents Act to tell you the truth. Secondly if you don't like / trust your agent then the rule is simply don't buy through them. There are plenty of agents so pick one that you trust.

As for the advice earlier about remembering that the agent is working for the vendor, this is true in terms of who is paying the wages BUT in most cases an agent is most happy when the vendor and the purchaser are all happy with the agreed price. It makes our life the easiest.

Also the advice given about putting in low offers and working upwards - don't start too low you will just put the vendors nose out of joint. Also I have known many people loose out to other purchasers who come in and offer higher.

Most of all be nice, and make friends with your agent ! if a good deal comes onto their property list will they phone the nice person or the person that walked through the door already not trusting them and sniping at them ?

Christal_2

Thanks Robuk, I was just wondering whether I will see a reply from EA on the forum....Yes I agree that being nice with the EA so they will remember you they take on something nice, in fact I do quite like another agent I have spoken and viewed properties with couple of times, the guy is very professional and nice, and trust me even I'm not sure what exactly is going on with the agent I was talking about in the OP I am still very nice to him or any other agents.

When you say not going too low, how low is too low? That's something I couldn't work out myself, to me I think about 5-7% below the asking price to start is quite reasonable, and I dare not to offer something 15% less than the asking price cause I would think that's too low.......