Estate Agent Playing Games?...

winnallreed

Hi,

We made an offer yesterday of £115,000 on a property up for £125,000. We were told at the time that there had been no previous offers.

However, I got a call today to say that although she had been unable to contact the vendor as he was away until thursday, "from previous offers they have received, they know the landlord is looking for minimum £120,000".

So have they received offers or not? Are they just playing games?

Just for a quick background to our situation, were first time buyers so have no experience other than reading articles and this forum, we have the finance agreed in principle and have a solicitor in place to get things moving straight away. The vendor is not currently living in the property so there is effectively no chain.

We said at the start we would pay up to £118,000 but I dont know what to do as a next move? Do I give them my final offer of £118,000 or do I leave them until thursday and dont seem to keen?

There is an open house coming up soon there which I would rather did not happen so would prefer to tie things up pretty soon!

Anyway, help would be greatly appreciated!

Thanks.

Hoof_Hearted

It seems the agent cannot remember which lies he/she has previously told. I suggest that you wait until the agent does put your offer to the vendor.

pinkshoes

I'd wait. Tell them that's pretty much your top limit, so you'll leave ot on the table for a week.

After that, try £117k!

DVardysShadow

pinkshoes wrote: »

I'd wait. Tell them that's pretty much your top limit, so you'll leave ot on the table for a week.

After that, try £117k!

I don't recommend this. It is like an ultimatum to children - you have to follow through to retain your credibility. If you say you are only good for £115k, and then offer £117k, they will believe that you are good for the full £125k.

I know you are suggesting some weasel words to cover this, but too much depends on the subtlety of those words , which will probably be lost.

Okydoky25

I would wait it out until you have a response to your original offer of £115k. If that's then turned down go in at your highest available amount stating final offer. The agents trying it on.

KateLiana27

I didn't know estate agents were psychic nowadays. She can't contact the vendor but she knows what they will and won't accept?

Their circumstances may have changed since those "past offers". For one thing, the house has been on the market longer.

Sit tight and wait until you hear officially from the vendors. Then wait a few days, and then increase your offer as you wish.

winnallreed

Thanks for the advice guys!

Do you think they really haven't been able to contact the vendor? On the day I made the offer I asked them to confirm some questions about the property and they contacted him ok then?

KateLiana27

Yes, it's possible - it's only been a day and they may be on a trip, working late, phone run out of charge, etc. But any longer than a few days and I might start to question how committed they are to selling their house (and how annoying their might be during the sale process).

And they may well have not received any other offers. Standard EA tactic.

david29dpo

Never tell an agent how high you can go (£118K) That was your first mistake.
Agents will (sometimes) tell lies about anything.
Offer what its worth to you, no more.

winnallreed

I haven't told the estate agent that, thats just the value me and my wife agreed on before making the offer

Ne5555

I was going to start a new thread but I saw that this thread is what i am going through now.
Can someone help?

I have seen a house and wanted to book a viewing. Estate agency was telling us there is already another offer on the property and if we want to make a higher offer they could show us the property. (we had similar problem with this estate agency one year ago). We did call several time for viewing with no avail. After 2 weeks I did call for a viewing and I said if I like the house I can increase the offer(we dont know what is the previous offer because they wouldnt disclose it.)
After seeing the property even we liked it so much,because of estate agency attitude we dediced to leave it. After a week estate agency called me and she said that the offer didnt go through,do we want to put an offer. Asking price £75.950. I said ok. I will put my offer for £75.000.
She said oh there is another 2 people putting an offer and I need your best offer.
me - Ok, I can go up to £90.000 but I dont want to put this figure down as an offer because when the vendor is ready to sell it for 76k I dont want to pay 90k. tell me the other people offer amounts and i will increase it.
Estate agency- oh, no we can not disclose their offers,you have to give me your best offer.
me - ok. I will put down 75k.(thinking if the other offer go through they have to put it on website the amount so i can increase it later.)

after a week still no answer I called again.
me- is there any news?
estate agency- vendor wouldnt even consider your offer unless your mortgage is in place.
me- ok, what do you want
estate agency- I need the approval from a mortgage company.
me- ok , I have spoken to mortgage adviser and there it is
I sent the documents by email.
it was late,vendor finish for a day ,next day no answer, next 2 days weekend,on monday I called again
me- is there any news ?
estate agency- you sent me a key facts, we need a certificate
me- what do you mean by that(I am a first time buyer, I dont know the differences)
estate agency- talk to your mortgage advisor.

I called mortgage advisor and she said ok, I am sending it right away. She sent it forwarded to estate agency by email. Waiting for an answer.

After couple of days she sent me a letter stating I am sorry your offer has not been accepted.

I am like ok,but how much it has been gone through then.
estate agency - I am sorry we can not disclose the offer.

All this time there is not a word on the website that there is an offer on the property.

and yesterday I called again and I said to her ok I would like to increase my offer to £80k.
estate agency- ok you sent me mortgage certficate for 60k we have to see the rest of it on UK bank statement dated within the last three months.
At this time I was fuming because I do have £30k on overseas bank and if the seel goes through I will bring it here,but if the vendor doesnt accept my offer why I should bring the money here, and sent it back.

and now I am waiting for an answer for my offer of £80k. Edit: estate agency called me now and said that they wouldnt even forward my offer unless all the money was here.

My question is is this a normal practice?
If I wasnt a serious buyer I wouldnt call them over and over again,or arrange a mortgage.
Now estate agency would even tell my offer to vendor.

What to do now? I really want to buy this poperty.