When is a BAFO not a BAFO??

Guest101

Defintely do not bring any documents with you, and do not prove anything to the estate agents. IF i was you i'd hire a solicitor, for £600 (what i paid anyway) its worth it.

The solicitor simply tells them that you have sufficient funding in place to cover the cost of this transaction.

I Bought my lat house in cash, being 25 at the time, the estate agents started exactly the same as they have with you, asking loads of questions etc etc.

I simply said: Let me stop you there, my financial position is secure and strong, I am offering £X, as a cash buyer with no chain. That is my final offer. You don't need to see anything more. - it worked.

Your basically in the same position, so dont be intimidated. They want to sell, and they want to sell quicckly, don't jump through their hoops, make them jump thru yours.

Teresa_Green

Guest101 wrote: »

They want to sell, and they want to sell quicckly, don't jump through their hoops, make them jump thru yours.

Thank you, sounds good to me!

I can't understand why they are messing about, we have offered the full asking price and if it had been accepted I would have instructed the survey by now, and have told them this!!

The situation is not going forward for some reason, that is why I feel as if we are being played, and looking for ideas to play back. But harder.

:cool:

Guest101

One idea, but it is risky, as you dont want to alienate the vendor (some people dont see this as a business deal, but as personal) is to say, my offer is open until XX.06.13, either we have an acceptance by then, or we withdraw the offer.

But dont say it unless you mean it.

I'm actually selling right now, and my buyers aren't very good. I've had to say this to them, as we have been set to exchange for about 3 weeks now. Exchange is now on monday, so we'll see. If not i'm happy to walk away from them, as missing my deadlines weakens my position. (That sounds harsh, but i've been very reasonable with the buyers - even when they have lied to us, now i want some commitment)

Teresa_Green

Guest101 wrote: »

One idea, but it is risky, as you dont want to alienate the vendor (some people dont see this as a business deal, but as personal) is to say, my offer is open until XX.06.13, either we have an acceptance by then, or we withdraw the offer.

But dont say it unless you mean it.

I'm actually selling right now, and my buyers aren't very good. I've had to say this to them, as we have been set to exchange for about 3 weeks now. Exchange is now on monday, so we'll see. If not i'm happy to walk away from them, as missing my deadlines weakens my position. (That sounds harsh, but i've been very reasonable with the buyers - even when they have lied to us, now i want some commitment)

Yes, the EA keep extending the "deadline" which makes me think there isn't one or they playing games to try and get us to increase our offer.

However their position isn't as strong as they thought as they have competition with the other house and they wouldn't want to end up with no sale at all now, would they?

kingstreet

FWIW the Estate Agency Act does put the onus on an estate agent to establish the potential purchaser is in a proceedable position. However, the Act is silent on how that is achieved.

When I was an EA adviser, it was a quick phone call with three simple questions;-

- your income
- your deposit
- any credit problems?

Within 30 seconds I knew if it was a goer or not. Agents are now deliberately muddying the waters of qualification in an effort to coerce the purchaser's mortgage business under the guise of looking after the vendor's interests. That's complete twaddle and if you have the experience and confidence you can call them on it...

Guest101

I believe that confirmation from a solicitor would meet the requirements under the act too. Your absolutely right, it's misrespresented to try achieve higher sale prices by knowing your top figure.

Teresa_Green

My idea to get round the misrepresentation thing is to use an AIP and POF which has been specifically prepared for this offer, so as to protect our full funds from being abused by greedy EA.

Who in their right mind is going to effectively hand over a blank cheque?!

Teresa_Green

Update...

Well I don't know what to say really but I am very upset as just had a call from EA.

Eventually went in yesterday with minimal but enough info to tick their boxes, had much pressure and multiple phone calls during the afternoon about whats your offer and then oh just say a figure over the phone no need to come in if youar e not going to get the house?????

So went in and even raised our offer.

Phoncallt thismorning - they are going with the other buyers??

Sorry for typos.. posting from my phone. Im really upset at the way they have messed us about and its all for nothing.

Our second viewing of other house was cancelled as thats gone under offer too.

Guest101

Dont be disheartened, it happens. And if they did this now, they could've done this once you had accrued solicitors fees and paid for survey. Count it as a lucky escape.

Teresa_Green

Guest101 wrote: »

Dont be disheartened, it happens. And if they did this now, they could've done this once you had accrued solicitors fees and paid for survey. Count it as a lucky escape.

Thanks.

I still just feel so angry at the way they have blatantly messed us about and screwed us over. I am unable to articulate just exactly how I feel and how I have been treated, they way they speak to you and the lies!!

And of course they did not forget to add that they would still phone us if it fell through, and still ring us if there is anything else comes on etc etc.

Just goes to show they are absolute vultures.

I am thinking that the other buyers are somehow known to them and it was planned all along. Maybe they have a house under offer with same EA and so two lots of commission. Even so they did not have to push us so hard right up to the end. Feel absolutely disgusted with what has happened and how they have behaved. Shocking.