House Offer?

andy.m_2

follow the propert on Rightmove, at the same time, if you have a spare afternoon then go view other properties with the same agent.

If the topic of the original house comes up then you can laugh it off, you may even state that you would be prepared to consider it again but only at your original price.

TastyTeeth

DRP wrote: »

How long has the property been on? Do you know if it has had previous offers or many viewers?

Give them time, in a month they may be feeling more desperate ?

It's been on for a few months and reduced in that time also. It's probably had folks viewing but I'm not sure. The agent indicated another offer had been made yesterday when I put my offer in, although I'm not entirely inclined to believe that.

Funnily enough "give them a month" was exactly what I just said to my OH. We've viewed twice and are in rented with an AIP in hand. I wonder whether I'll hear from them first?

TastyTeeth

arbrighton wrote: »

I would have left your offer open on the table as it was. Then look elsewhere. Make sure they know that.
They are obliged to pass your offer on, but may have sold it less favourably to the vendors (nothing stopping them doing so unfortunately).
However, you're right, none of their business.

Might have been a bit hasty there...

Better_Days

TastyTeeth wrote: »

The agent has come back and not unsurprisingly turned my offer down.

They have informed me that only an offer in excess of £XXX will be considered by the vendor. That would put it at the asking price or above.

I reminded the agent once again about my proceedability but they didn't seem particularly interested. No mention made of the other people's offer this time around.

I have no intention of offering the asking price. I've done my research and know the value I should be buying at.

I told the agent that I'm not prepared to offer what is being asked and that I was withdrawing my interest in the property as the asking price isn't realistic.

So is this another trick? Or have they simply not taken me seriously because I wouldn't give them the financial details they requested?

Well done for sticking to your guns. You don't want to go down the route of offering over value and then your bank refusing to mortgage at that amount.

As you, I suspect the other offer was a ploy.

As was the attempt to get you into their office to flog you other services under the guise of checking your finances. This happened to me too recently, like you I refused and my offer was passed on, although rejected. The property I had offered on has been on the market since March 2011, and my offer was low, but it was worth trying. EA's to blame at least in part for over-valuing in the first place.

Hold your nerve and hopefully either something else will come up or the vendors will see sense.

DRP

TastyTeeth wrote: »

Might have been a bit hasty there...

I probably would have left the offer standing, but it isn't a biggy. This week I have had 4 phone calls from EAs about stock on their books that isn't selling - they know we are in a good position to move quickly. If the vendor blinks first i've no doubt their EA will be on the phone to you. :cool:

As suggested previously, viewing a few houses (even something you're not particularly taken by) would do no harm in reminding the EA that you're keen to move!

note_2

its tricky, when we sold our house ages ago we got full asking price within 1 week of going up for sale. they turned out to be timewasters who strung us along for months on end before my dad pulled the plug on everything. maybe the vendors fear this will happen to them if you refuse to give them up front evidence of your finances.

if you know exactly what the property is worth then big thumbs up for doing your research, stick to your guns. about this other (maybe fabricated) offer, during a viewing i'd ask them directly if they had any offers on the table, most people you can tell if they're lieing.

Kingb4

Tasy Teeth - You seem to be doing everything right so far....

Dont worry about not leaving an offer on the table, as a proceedable buyer, the estate agent will come back to you if he is able to, as they want a sale (ok, they want their money!).

As suggested earlier, give it a bit of time, I would also suggest that if you have any contact with the EA, you mention that you are now looking at another house (its best if you actually have a real house you can feign interest in). It needs to be with a different agent (so they will realise their commission is at risk). They will probably then start conditioning the seller thatthey need to reduce their price.

Unless there is a compelling event you havent mentioned, time is on your side, an empty house costs them money every month.......so they wont let it sit too long. plus they will want their equity (if they have any).

Also meant to add - as alluded to above. Asking for it to be taken off the market if your offer is accepted is fine, however its not legally binding. No contracts have exchanged hands. We have also asked this previously, we monitored the situation (looking on web/in the local paper), with the plan that if we saw the house back on, we would flag to the EA that we would also continue looking and stop the survey etc.....

Better_Days

note wrote: »

about this other (maybe fabricated) offer, during a viewing i'd ask them directly if they had any offers on the table, most people you can tell if they're lieing.

Worth bearing in mind that the vendor may know nothing about this other 'offer' if it is wishful thinking on the part of the EA.

note_2

thats my point

thriftychap_2

Interesting reading.........we have offered on two properties and it had not occurred to me until now that on both occasions I had been asked about my mortgage arrangements and invited to talk to their advisor when submitting our offer. On both occasions I politley and firmly declined, could this have any bearing on my lack of success.? Are EA more likely to push an offer to their client if you speak with their Inhouse advisors.