Is EA lying?!

thequant

al_1232 wrote: »

Bit of an open question i know but wondering if this is an Ea tactic?

Went to view a house on sat shich is on market for 6 months but recently had a couple of grand knocked off price and new carpets etc fittedwe really liked it and called today to arrange a second viewing, when EA gave a speel about how someone had already been for a second viewing this weekend and someome else was just off the phone to make a viewing. This has got us a bit panicky now as we do really like this place and think after tomorrow we will be making an offer on wed... Just dont want someone to nab in before then!

Im pretty suspicious that their likely just doing it to make us think how popular it is? Not much of a question i know, but would appreciate your thoughts.

If there was a big chunk off I could believe it, but not for a few grand and some new carpets.

Best tactic to take in these circumstances, is go through with second viewing. if you like it, state you are willing to make an offer. If EA replies they have an offer. Then state you are not willing to enter a bidding war, that you are happy for the other offer to go forward and if the other falls through, you will then make your offer.

This throw EA's into a panic, as they know an offer is within their grasp (especially for a property they can't shift) but can't admit they have lied! Cue loads of excuses over the next few days as why you should offer anyway (like your in a better position than the other buyer), eventually they will say other party has pulled out for whatever reason.

I think it is important to do this, as it establishes the power dynamic early on.

SG27

That sounds pretty much the same sort of thing I heard on every property I offered on! It's amazing how houses sit on the market for 6 months+ and two people offer on the same day!

I found the best thing to do was to tell then that you are not interested in other viewers or offers. Your offer is based on what you willing to pay and other interested parties are irrelevant to what you will pay.

YoungBaker

Thanks all. It just gets pretty stressful as we are FTB and although we understand they can have some tricks such as casually dropping things into conversation, we have been watching the market for a while and this house ticks all the boxes.

To be honest we probably were ready to offer after we saw it but were advised to have a second viewing anyway.

We have our viewing tomorrow evening but am considering just putting our initial offer in. Is it inappropiate to discuss offers with the vendor? As if we offer tomorrow we could then have a chat with them (as the owners do the viewing) and maybe discuss with them more what they are looking for etc? Or is this better just left not to happen?

Any other common ones I should watch out for from the EA?
Also, does the idea of having mysterious fake bidders able to happen in Scotland or does the system not allow for this?

Ivana_Tinkle

It doesn't matter whether there's another buyer or not. Have another viewing, have a think about it, take your time and decide if you want to buy and how much it's worth to you. They might be lying - probably are! - but might not be. Last time we sold, we had two offers the same day, v close together, so it does happen. Don't panic but, equally, don't call the EA a liar as that never goes down well!

Cash-Cow_3

Ivana_Tinkle wrote: »

It doesn't matter whether there's another buyer or not. Have another viewing, have a think about it, take your time and decide if you want to buy and how much it's worth to you. They might be lying - probably are! - but might not be. Last time we sold, we had two offers the same day, v close together, so it does happen. Don't panic but, equally, don't call the EA a liar as that never goes down well!

100% this. If the other buyer buys it at the asking price feel happy that someone has paid over the odds for it.

YoungBaker

Haha dont worry I wont be calling the EA a liar :-) (although I may think it to myself!)

I have spoke it over with my OH tonight and will definitely be looking to put an offer in in the house... it is exactly where we want to be, priced well and walk in.

SG27

al_1232 wrote: »

Haha dont worry I wont be calling the EA a liar :-) (although I may think it to myself!)

I have spoke it over with my OH tonight and will definitely be looking to put an offer in in the house... it is exactly where we want to be, priced well and walk in.

Good luck!!

YoungBaker

What is your opinion on putting a bid in tomorrow morning (we know we are definitely going to bid either way unless we turn up for the viewing and theyv done something dramatic!!)... Do you think it would make the viewing awkward? Or could it be a good way to get an initial offer in and maybe have a bit of leeway and chat with the seller around it?

motherofstudents

If it was me I wouldn't offer until the day after your second viewing. It is never good to appear too keen. But, that's just the way I would do it. I would proceed as if there are no other interested parties. Give yourselves time to arrive at your opening offer. If someone else does offer and gets the house, then move on to the next. I have never viewed a house where the estate agent has not mentioned other viewings.....just keep your excitement to yourself.

Whichever way you do it, please come back and update.

hethmar

You dont mean make an offer BEFORE you view do you? I certainly wouldnt do that, they will think they have you by the short and curlies then. Wait and see what you think once you go. If they are still taking viewings then no offer has been accepted yet.