Advice on ESTATE AGENT TRICKS

fairyfaye1986

Hey all.

My other half and I are FTB and have been looking for about 6 weeks. or more and have seen loads of houses. We have viewed a property last night that we really like. So I have called and asked for a second viewing which is now booked for sat

The property is different in the sense its the new build company selling it as vendor has bought a property with them.

ANYWAY I got a phone call no more than 20 min after booking second viewing from EA saying the couple who had a second viewing last night are putting in an offer and as long as its what the company wants the company will accept. so i need to put an offer in today to make sure i dont miss out.
EA also added that market is on property at oieo 250,000 and ideally they want 255,000 but will accept 250,000. so i should put in an offer then have a second viewing and then decline if we dont want it because otherwise my viewing may be cancelled etc if this offer is accepted.

Am i right in thinking this is the EA playing tricks trying to rush us. rather than give us a heads up. Im fairly new to this but learning fast. And however much I loved it I wont be rushed by anyone lol. And if he is telling the truth I will just have to learn that lesson.

Thoughts please? Anyone else experienced this....

googler

fairyfaye1986 wrote: »

.............I got a phone call no more than 20 min after booking second viewing from EA saying the couple who had a second viewing last night are putting in an offer and as long as its what the company wants the company will accept. so i need to put an offer in today to make sure i dont miss out.
EA also added that market is on property at oieo 250,000 and ideally they want 255,000 but will accept 250,000. so i should put in an offer then have a second viewing and then decline if we dont want it because otherwise my viewing may be cancelled etc if this offer is accepted.

Tell them you'll wait to see if the other offer is accepted or declined. If it's declined, then you'll take the second viewing and consider whether or not to offer after that viewing.

It won't go for just over £250,000. You are aware of the SD change at that level, aren't you? If you buy below £250k, your SD is currently zero, go above that and it's 3% of the purchase price

hazyjo

They might be (I'd put money on it), or they might not. As others have said today on other posts, it's a common ploy. I absolutely hate it and it's probably the thing that winds me up most on these boards.

So this 'other couple' haven't even put in an offer, they're 'going to put in an offer'? That's madness. At least wait until they have a bloody offer before they start getting you to compete with them!

IF you want to offer on it, do it in your own time, don't be rushed, and offer what you feel is a fair price.

Nobody in their right mind would pay £255k cos of the stamp duty threshold at £250k. Madness again. Probably another ploy to get you to go in at £250k. If you feel it's worth less (do your homework as to what similar, nearby properties have SOLD for), offer less. How long had the sellers lived there? What did they pay?

Good luck. Remember they're sales people and that they're not working for you.

Jx

DannyboyMidlands

Once again we have the famous "other offer". 9 times out of 10 this will be BS so don't let it have any effect on what you do. Stick with your viewing on Saturday and if you like it make an offer at that point. Also don't let talk of £255k/£250k influence you. If you think it's only worth £220k, don't be afraid to say so.

If it gets sold in the meantime then so be it. Plenty more fish in the sea. Although, chances are, the other sale will probably mysteriously "fall through". Tell the EA to give you a call if/when this happens.

fairyfaye1986

Thanks guys - you have confirmed what I thought - they are playing games. And that was my first though re 255 thats madness why would anyone pay that knowing about SD ... he said to me "if you go in at 250,000 they will take it" must think we were born yesterday. Im just going to sit tight and view it on sat and talk it over sunday and if we want put offer in.
In terms of price most houses in that area are going for about 250,000 so its not a bad price but as we know the markets slow so we are in a strong position esp having mortgage in principle, no chain, blah blah.
Just finding the whole process stressful and feel like we are never going to find anywhere! x

fairyfaye1986

he also said if they put an offer in the company wouldnt even listen to other offers and my instinct was thats crap - no one will cut there nose off if they can think theres more money involved

hazyjo

This is the easy bit lol. The stress comes later

Good luck. Keep us informed. Definitely stick to your ceiling price.

Jx

dawyldthing

if its your move, reed reins, hall and benson it probably is a bluff. I'd wait and see, houses aren't moving that quick tbh

dawyldthing

who is it under?

fairyfaye1986

Im also thinking of going in at 245,000 which i think is reasonable. and as they are a company selling I dont feel so bad about this. I said to the EA when he called that Im at work and my other half is asleep ( he works nights) and I will NOT be waking him up for this. So I played it pretty cool. My thinking is if I get pushed into this they will know I will with others if we decide against this one.

fairyfaye1986

dawyldthing wrote: »

who is it under?

Its with three agents, douglas allen, apple and someone else.