Is it dodgy?

Tiger_greeneyes

You could always call the agent's bluff - ask them to put forward your offer, but on the understanding that the property is off the market and your survey is booked in within a week.

Once you've got your formal offer through the post, make an appointment to view the house again - whether your offer was accepted or not - you may want to revise it but at least then you can open a dialogue with the vendor.

In the meantime, check on house price websites such as nethouseprices.com to find out the price of similar sold properties in the area - it might help to put your mind at rest about the price.

Worried

Having slept on it, I do really think the house is worth the 214k to us and really want it. Everything we look at is same price and this is the best so far. Last house sold in the road in DEC 06 for around 190k, but house we're interested in seems to be the best on the road externally and has no work to do internally. Most of the dg, bathroom and kitchen were put in 2ish years ago by vendors. I still really don't like the situation though. Do you think there could be a genuine offer and the EA is the one holding off booking in the valuation as tghey knew we were having a second viewing and want to see what we'll offer. Perhaps the IFA is genuinly doing us a favour saying the EA would favour us as we're clients of his and they can track the progress of our applicaiton through him, so it would all go more smoothly for the seller. MAybe we do have the advantage of being FTBs over the other interested party, so they're also favouring us because of that, but if that's true, I would want to put forward a lower offer than the 214k. Anymore advice on how to proceed today? I'm still at a loss as to how to handle it best, but think we've decidied we don't want to lose it through inaction.

Rick62

Why would the IFA even know if there has been another offer on the house? Definately dodgy.

AndrewSmith

Rick62 wrote: »

Why would the IFA even know if there has been another offer on the house? Definately dodgy.

Because the IFA would be 'offer checking' every offer that is made on any property through that agent. It is how he gets his business.

The EA would have a morning meeting every morning in which the Residential staff and the IFA would go through the previous day's activity ie: offers, valuations, viewings, instruction etc etc.

The IFA would be given the details of all offers and would subsequently call them to 'validate the offer for their client, the seller'. WHat this really means is that the IFA wants a bite at the mortgage business, likewise with all viewers and sellers too.

EA sell it as part of their service to their clients, the sellers, that all offers will be financially qualified and verified by their 'in house financial expert'.

If there is an IFA working from an EA office I would expect nothing less than for him/her to know every offer and viewing that takes place.

Don't allow yourself to be bullied though. If you want to know the truth about how many other offers there are simply book another viewing on the property for a time when the agent wont want to accompany you, 7.30pm for example, then ask the vendor directly have they had any other offers?

On the OP last point, yes I am afraid that it is common practice in some agencies to invent offers to make potential buyers increase theirs.

snails's_pace

a lot of estate agents have their own mortgage advisors ,or one that they will recommend.

Worried

AndrewSmith wrote: »

Because the IFA would be 'offer checking' every offer that is made on any property through that agent. It is how he gets his business.

The EA would have a morning meeting every morning in which the Residential staff and the IFA would go through the previous day's activity ie: offers, valuations, viewings, instruction etc etc.

The IFA would be given the details of all offers and would subsequently call them to 'validate the offer for their client, the seller'. WHat this really means is that the IFA wants a bite at the mortgage business, likewise with all viewers and sellers too.

EA sell it as part of their service to their clients, the sellers, that all offers will be financially qualified and verified by their 'in house financial expert'.

If there is an IFA working from an EA office I would expect nothing less than for him/her to know every offer and viewing that takes place.

Don't allow yourself to be bullied though. If you want to know the truth about how many other offers there are simply book another viewing on the property for a time when the agent wont want to accompany you, 7.30pm for example, then ask the vendor directly have they had any other offers?

On the OP last point, yes I am afraid that it is common practice in some agencies to invent offers to make potential buyers increase theirs.

Do you think it is the agent holding off booking in the valuation then, to give us chance to offer?

Doozergirl

Why would they? A sale is a sale is a sale. And it's nearly asking price. £1000-£2000 is about £20 in commission to an agent. You haven't even made an offer; an agent would not hold off on a proceedable offer for the chance that someone else might offer too.

They are not giving you a chance. If they have an offer it's either unproceedable or the buyer has dropped out. You need to act like yours is the only offer on the table.

Worried

Doozergirl wrote: »

Why would they? A sale is a sale is a sale. And it's nearly asking price. £1000-£2000 is about £20 in commission to an agent. You haven't even made an offer; an agent would not hold off on a proceedable offer for the chance that someone else might offer too.

They are not giving you a chance. If they have an offer it's either unproceedable or the buyer has dropped out. You need to act like yours is the only offer on the table.

Would they not even if the other party is not a FTB? I have phoned to ask for a third viewing tonight, so we can ask the vendor if there have been any offers. They are in their morning meeting and will call me back once they've had contact with the vendor. I'm feeling twitchy now that we are waiting another day to offer. It's the right thing to do if we've got niggling doubts isn't it?

Doozergirl

Just make a lowish offer, start the ball rolling. At least the vendor will know the third viewing is for a reason.

You really are thinking too hard about it. The fact is, you don't know what has happened before you walked onto the scene and thinking about it isn't going to get you the answer. The negotiation takes place between you and the vendor, not the EA.

There's a super thread from Back2Square1 last week going through their adventures offering on an almost identically priced house.

Tiger_greeneyes

It's not the property you've got niggling doubts about though, is it?

You can still make your offer - it's not binding! Don't let the agents make you feel like you can't go about this in the usual way. Ignore it. If you want to offer, then do so. You can speak to the vendor when you do your next viewing