Making Very Low Offers with Estate Agents.

googler

What happens if you put 3 or 4 offers on the table, and all the vendors accept all at once?

phill99

dinofabio wrote: »

I’m concerned that the estate agents will not treat my offers seriously and see me as a time-waster

That just about sums it up.

Ivana_Tinkle

You need to sound out the EA a bit during each viewing. Ask how open the vendor is to offers, how long the property's been on the market, why they're moving etc. If they indicate that there's no chance of a low offer being accepted, then don't bother making one. At least that way you're not going to make dozens of offers that will be rejected and undermine your credibility.

ess0two

You'll be labelled a time waster,and its doubfult your offers will reach the vendors.

Cash-Cow_3

You are wasting your own time.

Mickygg

This tactic is too flawed. You will burn relationships with the 3 EAs and may never be considered a proper buyer and be shunned.When I sell I try and not let time wasters like you through the door. I got a terrible offer earlier in the year and I was insulted, so I instructed the EA under no circumstances to let that 'buyer' through my door for a second viewing.

SG27

I don't think you will cause any rifts with EAs. Friends of my parents had their flat on the market earlier this year £180k and had two offers from cash investors one which was £75k and another of £110k! The agent said that if they wanted a quick sale (which they did) to take it, if not wait it out. I think it's obvious what the answer was. The point is BTL investors must do this all the time offer very low on a lot of properties. Just because you'd like to live in it I can't see the difference. In fact if I had enough to be a cash buyer I would be quite happy to do the exact same thing! I would just make it clear to the agents before viewing that you are a cash buyer and are looking to use it to your advantage and they you only want to view properties with realistic vendors or who need a quick sale.

SG27

googler wrote: »

What happens if you put 3 or 4 offers on the table, and all the vendors accept all at once?

Then you pick the one you like most and withdraw the others.

Paul_the_Painter

Of course you will have to lose a certain amount our shyness/privacy. To be taken seriously you will have to prove to the EA that you are really a cash buyer. That will mean showing them a bank statement with the proposed purchase price on it! If you are expecting to be taken on trust that you have the funds available be prepared for a surprise.

Are you actually a true cash buyer, as in money in the bank? Or do you just have your deposit sorted? If the latter how much percentage wise?

dinofabio

SG27 wrote: »

Then you pick the one you like most and withdraw the others.

Exactly. Although the likelihood of this happening is very remote.