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Stupid 'Offers in excess of'
Hominu
Posts: 1,671 Forumite
Seen a nice house, on the market for "Offers in excess of £149,950". After viewing thought the price was a little too much for what it was so made an offer like so:
Me: "I'd like to make an offer on the property of £145,000"
EA: "Sir, the property is on the market for offers in excess of £149,950."
Me: "I know, but thats what I think the property is worth to me"
EA: "The property is on the market for offers in excess of £149,950. We will not contact the vendor for offers below this amount."
Me: "Ok, Bye."
The next day, we decide we like the property and will pay extra, so it begins again:
Me: "I'd like to make an offer on the property of £150,000"
EA: "The vendor will be looking for a higher offer. It is already priced competitively to encourage a quicker than normal sale."
Me: "So you will not put my offer across to the vendor?"
EA: "No, you will need to increase your offer."
Me: "Are you saying there is already an offer greater than that?"
EA: "We can not disclose that information."
Me: "Fine, we will not be increasing our offer. Bye."
The property is in the UK, and has been on the market since September last year. Its original price was £165K, before they changed it to this price and changed EAs.
If they don't want to accept 150K, why not say "Offers in excess of 150K" ?!
Me: "I'd like to make an offer on the property of £145,000"
EA: "Sir, the property is on the market for offers in excess of £149,950."
Me: "I know, but thats what I think the property is worth to me"
EA: "The property is on the market for offers in excess of £149,950. We will not contact the vendor for offers below this amount."
Me: "Ok, Bye."
The next day, we decide we like the property and will pay extra, so it begins again:
Me: "I'd like to make an offer on the property of £150,000"
EA: "The vendor will be looking for a higher offer. It is already priced competitively to encourage a quicker than normal sale."
Me: "So you will not put my offer across to the vendor?"
EA: "No, you will need to increase your offer."
Me: "Are you saying there is already an offer greater than that?"
EA: "We can not disclose that information."
Me: "Fine, we will not be increasing our offer. Bye."
The property is in the UK, and has been on the market since September last year. Its original price was £165K, before they changed it to this price and changed EAs.
If they don't want to accept 150K, why not say "Offers in excess of 150K" ?!
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Comments
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I'd have waited longer before ringing back with a higher offer.
Get a friend or partner to ring the EA next week and offer £150k cash, see what they say...
EA sounds like a bit of a tw@"The only man who makes money from a gold rush is the one selling the shovels..."0 -
I'd walk away. They might be kicking themselves a few months down the line when they've had to reduce it again and again.0
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Their client may have told them if its less than £150,000 dont contact me. There are any number of reasons why that is their position- it's their house.
If you suspect its the agent write to the Vendor and deliver it by hand to the house.
149,950 is the same as 99p, to many it's not £1 or £150K, but a little less. For some, like you and I, it's daft. But the world doesn't think that way.
Once I have taken it over however....
Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
Actively hunting down the person who invented the imaginary tenure, "share freehold"; if you can show me one I will produce my daughter's unicorn0 -
spunko2010 wrote: »
EA sounds like a bit of a tw@
Could be the Client that's the idiot. They will just get shouted at if they report the offer.Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
Actively hunting down the person who invented the imaginary tenure, "share freehold"; if you can show me one I will produce my daughter's unicorn0 -
propertyman wrote: »Could be the Client that's the idiot. They will just get shouted at if they report the offer.
True, but I meant more along the lines of an EA knowingly having a property on as OIEO the wrong amount. :rotfl:
"OIEO £150k which actually means OIEO £155k, or thereabouts, depending on the weather outside, or what colour my underwear is""The only man who makes money from a gold rush is the one selling the shovels..."0 -
Is the house still occupied by the vendor - is there any chance of simply posting the offer through the letter box if the estate agent won't pass it on?
A friend of ours nearly sold their house to their estate agents nephew at a knock down price, having got no offers. Shortly before it went through, they got a note through the door from a buyer upset they had decided not to sell the house.0 -
I hope they reported it to Trading Standards and anyone else who would take interest.Is the house still occupied by the vendor - is there any chance of simply posting the offer through the letter box if the estate agent won't pass it on?
A friend of ours nearly sold their house to their estate agents nephew at a knock down price, having got no offers. Shortly before it went through, they got a note through the door from a buyer upset they had decided not to sell the house.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
I'm sure I could guess who this EA is, sounds like a conversation we've been having alot lately!
Paul0 -
Me: "I'd like to make an offer on the property of £150,000"
EA: "The vendor will be looking for a higher offer. It is already priced competitively to encourage a quicker than normal sale."
http://www.asa.org.uk/ASA-action/Adjudications/2011/12/Sell-Quick-Ltd/SHP_ADJ_169203.aspx0 -
I was about to ask if it is Express Estate Agency.Don't lie, thieve, cheat or steal. The Government do not like the competition.
The Lord Giveth and the Government Taketh Away.
I'm sorry, I don't apologise. That's just the way I am. Homer (Simpson)0
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