Attention Estate Agents - how do I make friends with you?

fimonkey

Thank you once again.... Going off this topic a bit (but reluctant to start a new thread as it may look like I'm hogging this board) ;-) ..... What EXACTLY will a solicitor/conveyencer do for you, and how do they break down their charges? Is it likely to be one fixed price? If so how much should i be looking at? (or will this change depending on type of property etc).

Cheers again

Rick62

Its been mentioned but is worth stressing again, the EA is contracted by, works for and has a duty to the the seller and NOT to you the buyer.

So be friendly, but don't tell him everything and remember he is negotiating for the seller.

olly300

fimonkey wrote:

Thank you once again.... Going off this topic a bit (but reluctant to start a new thread as it may look like I'm hogging this board) ;-) ..... What EXACTLY will a solicitor/conveyencer do for you, and how do they break down their charges? Is it likely to be one fixed price? If so how much should i be looking at? (or will this change depending on type of property etc).

Cheers again

What is conveyancing?
http://www.home.co.uk/guides/buying/conveyancing.htm

Do a google search for online conveyancing firms and put in theoretical details for a property i.e. a flat worth £160K which is leasehold then a house worth 160K which is freehold and have a look at how the fees are broken down.

By the way the easiest way of finding a conveyancing firm is by personal recommendation.

pusscat

Another thing to do is to check out the prices that houses in your area/price bracket are REALLY selling for rather than the prices advertised by the EA's. There are plenty of free and subscription services on the net.

as a buyer you have two choices

1) you see a house, fall in love with it and pay the asking price, or close to it.

2) you set yourself some criteria, say 2 bedrooms, within 5 miles of X, freehold, garden, parking etc and then each time you see a house that fits your criteria (and you like the look of) come up, you put in a lower offer. As you are a FTB, no chain, finances in place etc then you may strike lucky. The best thing to do is to be up front with the EA's. Tell them that you are looking to bag a bargain and that you are prepared to sit and wait for the right price . Keep an eye on how long property sits on the market, the longer it sits the more likely someone is to accept that they have overpriced the house. Obviously this strategy relies on the market not being crazy (but it certainly is not where I am!)
If I was in your situation I would be looking to get a house being advertised at £175k for your £150k.

The golden rule is that a house is only "worth" what someone will pay for it. The price at the EA's is just the EA's professional guess at how much they can get someone to pay (plus a bit!)

Good luck in your search!

Puss

PS - if the post comes out twice it's becase my cat just sat on the keyboard!

A_Guard_Swine

Here is a big hint.
Agts like it easy so If you have everythinh it will make there life easier for them here's what you need nice and simple.


1. Get a Folder.

2.Write you Full Name, Address and Contact number on a Sheet of A4, this will be page 1.
Put it in the folder

3.Get Qualifed by a Mortgage guy and get a copy for your AIP get his number, this will be page 2.
Put it in a the folder.

4.Get a letter from a bank saying you have a 25k deposit, this will be page 3.
Put it in the folder.

5.Pick a good Solicitor and instruct them to be ready, get them to check your name qualification deposit and ID.
Get it all on headed notepaper, this will be page 4.
Put it in the folder.


Take the folder with you to any EA. Show them the folder...

They will faint and think WAHOO, easy punter.
Then tell them you an FTB and can exchnage in 28 days, They will faint again.
But when they wake up the will be your friend...
OHHHH YEAAAAH

Every agt in every ea will be trying or you beacuse all the need to do is call sellers.
They will be helpful because they know every other agt will be on top of you to.

It will give you the abilty to play seller off seller and agt off agt.

As you have no chain and your ready to go "YOU ARE THERE MASTER"

courtjester

fimonkey wrote:

2. I know the EA's first loyalty is to the seller and to get the best price for the property. When I come to look, would any EA indicate an acceptable 'offer' I should make?

3. How much will an EA be my friend' in terms of making sure I get the best property for the best price (which kinda goes against their ethos for sellers doesn't it)?

4. If an EA can't guide me through this 'game-playing'.. who can??

It's been mentioned, but it can't be over-emphasised - don't regard the estate agent as your *friend*.

The agent does not act for you and will *not* act in your interests, although he /she may come across very friendly and offer all sorts of services to you.

Find your own solicitor /conveyancer and make your own mortgage arrangements - don't take recommendations of the agent, these will prove to be in their interest, not necessarily yours.

Do your own research on asking price and the value(s) of property you are reviewing - don't expect any useful information from the agent selling the property - their job is to get you to pay the maximum amount to their client (the vendor), hence *anything* they may say to you, you need to judge against what is realistic and don't be lulled into thinking that you are getting a truthful response just becasue they are nice to you - remember the agent is a professional salesperson, their job is to *sell* to you, not to look after your interest.