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Put in an offer - agent tells me higher offer has been made, but won't tell how much?
Comments
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in same boat, offered £20K under asking (which I expected to be rejected) but have spoken to vendors a few times and they have met the other buyer, who viewed before I did.
Ultimately you need to decide your top price and be able to walk away, which is where I am at at the mo0 -
As said, it is a common EA tactic.
If they won't tell you what the other offer's for (most won't in that situation, but will give an indication), ask them about the buyer - are they proceedable? Are they in a chain? Do they have a buyer? If no to any of those, don't feel you have to try and offer more. You might still be the favourable buyer.
EAs will often 'stretch the truth' (okay, now I'm stating the obvious!) and they'll show someone else round and ask things like is it one you'd consider, only there's another offer on the table. If the viewer shows any interest, they'll push to get some indication of what they'd offer. Not necessarily meaning there's an actual offer on the table, but they might be telling you that.
Has this property just come onto the market?
Jx2024 wins: *must start comping again!*0 -
You do realise there is a very good chance there is not another offer at all, but this is a tactic to get you to pay more.0
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We had a similar scenario on the place we bought recently, and while I'm sure the EA used the tactic to an extent to get us to increase our offer, we now know for a fact that there was another offer because she ended up buying the place next door and is now our neighbour!
So while there's probably a good chance the EA is bluffing, it isn't always the case.
Offer what you're happy to pay, and then walk away if that is not enough. You'll either end up buying the property you want for a price you're happy with, you won't get the property you wanted because it is too expensive, or if there is no other offer, the EA will come back with their tail between their legs.0 -
Update - held off for 24 hours and had my offer accepted. Surveyors going round next week!!! Thanks for all advice!0
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