HELP! In the middle of negotiations...

Lifes_Grand_Plan

Alibear wrote: »

So true...

Well we've arranged to see the other property; told EA and they didn't seem too bothered, but suppose they wouldn't give anything away. We'll just hope the other property's just as nice and wait for the original EA to come crawling back to us!

Is the other property through the same EA? If so then they won't be bothered because they will get commission on one house or the other...

However if its with a different EA and they aren't bothered then its just pure s*it customer service from lazy money grabbing EA's who don't realise that the property market is screwed at the moment and they no longer have it as easy as they did 4 years ago.

Alibear

Lifes_Grand_Plan wrote: »

Is the other property through the same EA? If so then they won't be bothered because they will get commission on one house or the other...

However if its with a different EA and they aren't bothered then its just pure s*it customer service from lazy money grabbing EA's who don't realise that the property market is screwed at the moment and they no longer have it as easy as they did 4 years ago.

Nope, different agent. Personally the owner of the first home is living in a dream world if he thinks he's going to get the asking price. His profession should mean he's very knowledgeable about the property market too. We've got others to see so we'll wait a while before going up to our 'walk away' price... We've been house hunting for about 10 days and it's already doing my head in!

DVardysShadow

Alibear wrote: »

We've been house hunting for about 10 days and it's already doing my head in!

Early days really. Too soon to be bothered about the ones that get away.

Ulfar

First thing please tell me you didn't tell the estate agent how much you have in the bank or can afford. When they ask for proof of funds have a spare bank account that you can transfer the exact amount into.

If they know you can afford more they will push you for it that s their job.

zappahey

Lifes_Grand_Plan wrote: »

RE: Forcing EA's to put offers to the vendor.... the EA works for the seller and gets paid commission on the sale price therefore its in their interests to get the highest price possible.

They are very likely to lie / not inform the sellers of offers if they think they can squeeze more out of the buyer... this is especially so if they know what your budget is.

So by forcing them to put the offer to the seller, the seller may well be happy with the offer and not give a damn what the EA thinks or how much commission they get.

Do you really think an EA would be happier with no sale and no commission, rather than a slightly lower value sale and getting 50 quid less?

Alibear

Ulfar wrote: »

First thing please tell me you didn't tell the estate agent how much you have in the bank or can afford. When they ask for proof of funds have a spare bank account that you can transfer the exact amount into.

If they know you can afford more they will push you for it that s their job.

The EA thinks it knows what we can afford! :-)

We will make sure they can only see the purchase amount though, thanks for raising that.

Alibear

zappahey wrote: »

Do you really think an EA would be happier with no sale and no commission, rather than a slightly lower value sale and getting 50 quid less?

This is what I don't understand. EAs really are a different breed. They can't be earning anything this month so you think they'd be happier with a slightly lower purchase price than no sale at all, yet they still ask if you can 'find some more money from somewhere', like we're made of it!

But my favourite thing is when they say 'between me and you' when negotiating, like they're telling you something exclusive. Kn*bheads.

Rant over. Maybe.

satchmeister

Alibear wrote: »

This is what I don't understand. EAs really are a different breed. They can't be earning anything this month so you think they'd be happier with a slightly lower purchase price than no sale at all, yet they still ask if you can 'find some more money from somewhere', like we're made of it!

But my favourite thing is when they say 'between me and you' when negotiating, like they're telling you something exclusive. Kn*bheads.

Rant over. Maybe.

and they really want you to get the property and they will do their best for you ...

Lifes_Grand_Plan

zappahey wrote: »

Do you really think an EA would be happier with no sale and no commission, rather than a slightly lower value sale and getting 50 quid less?

But they don't see it as "no sale and no commission"... the OP went in with a first offer, anyone with half a brain wouldn't go in at their top price with their first offer so its fair bet that they have room to increase that offer...

So to the greedy EA's its a case of see how much they can push up the offer and at the same time their commission... never once thinking that someone might walk away especially with their first offer... they've had it too easy in the past and now they still think they are living in that past.

shedifice

Lifes_Grand_Plan wrote: »

So to the greedy EA's its a case of see how much they can push up the offer and at the same time their commission... never once thinking that someone might walk away especially with their first offer... they've had it too easy in the past and now they still think they are living in that past.

Thing is if I negotiate from my initial offer up, fine. But in that I also expect some seller coming down too.