Thinking about buying a house

Running_Horse

There is something rather unpleasant about coming on a message board boasting of colluding with the vendor's estate agent to get the price down.

Time to level the playing field, using the postcode, Rightmove details (including photo), agent details, and a copy of this discussion.

Once the vendor is armed with the full story of any offer and her agent's behaviour, she can make a decision based on all the facts.

ooobedoo

I wasn't boasting, just what they had told me.

The house is totally overpriced, it need a lot of work.

Doozergirl

What is there to boast about? The vendor ignored the agent's valuation, the OP is going to have trouble obtaining the house at a sensible price. She's hardly taking advantage. She sounds like a novice house buyer genuinely asking for help, not someone preparing to go in for the kill!

Your post running horse will no doubt frighten the life out of her. How informing the vendor that people think the house is overpriced is going to make them happy I don't know. It can't do much for you either - surely the aim of this board is to help buyers get a house as cheaply as possible and vendors to obtain the best price for their house? Perhaps you are in the position of being a vendor at the moment, but you may be a buyer who wants help also someday?

If the agent is telling people it's overpriced then it sounds to me like they are trying to entice offers because the 'many' viewings so far have produced nothing. Agents are wiley, we all know that! It's hardly a reason to scare the life out of the OP

How sad

skintlass

The fact remains that the EA is supposed to act on behalf of the vendor not the purchaser - thats why they get paid commission and they are in breach of that by saying to the purchaser that it is overpriced. My house is going on the market this week and if I caught wind of my EA saying things like that they would be straight out the door. As for the asking price - you can offer what you want its just that the vendor is within her rights to say no.

Running_Horse

Doozergirl wrote: »

Your post running horse will no doubt frighten the life out of her. How informing the vendor that people think the house is overpriced is going to make them happy I don't know. It can't do much for you either - surely the aim of this board is to help buyers get a house as cheaply as possible and vendors to obtain the best price for their house? Perhaps you are in the position of being a vendor at the moment, but you may be a buyer who wants help also someday?

If what they say is true then the vendor has already been informed the house is overpriced and disagrees. As I understand it the aim of this board is to help consumers against big financial institutions, not put one over on each other. If the OP thinks the house needs that much work and is overpriced, don't buy it. But I get the impression they don't care about the house, just want to boast at dinner parties about the bargain they forced. I have been both vendor and buyer and always acted with honesty and integrity, even when it cost me. How is contacting the vendor any different to contacting strangers on the Internet? She may want to take action against her agent.

Time to test the ingenuity of the Royal Mail. Will they deliver a letter with the picture of a house, the town, and a postcode?

Eyesparky

Estate agents are supposed to act in the interests of the vendor. I have lost count of the times that I have seen the exact opposite. Of course it is impossible to ignore such information once you have heard it.

Negotiate on the property based on a realistic renovated price less substantial works. Just because it is a cluttered house does not mean there is a lot to do so have a proper second viewing and look at it realistically.

In the end, try your offer, if refused negotiate to a point you are happy with and walk away if you get no joy.

lynzpower

Running_Horse wrote: »

If what they say is true then the vendor has already been informed the house is overpriced and disagrees. As I understand it the aim of this board is to help consumers against big financial institutions, not put one over on each other. If the OP thinks the house needs that much work and is overpriced, don't buy it. But I get the impression they don't care about the house, just want to boast at dinner parties about the bargain they forced. I have been both vendor and buyer and always acted with honesty and integrity, even when it cost me. How is contacting the vendor any different to contacting strangers on the Internet? She may want to take action against her agent.

Time to test the ingenuity of the Royal Mail. Will they deliver a letter with the picture of a house, the town, and a postcode?

Oh do me a favour Running Horse.

this site is for ALL moneysavers. Are you seriously suggesting that oobedoo pays ridiculously over the odds cos a EA has overpriced?

She likes the house, she has said so, but feels that the price is too high.

Buying property is ALL about the negotiations. If you DONT negotiate, then you are going to be ripped off - pure & simple. Who says the price reduction would be forced. I can hardly see the OP going round there putting a gun to the vendors head.

You might be happy with accepting to pay whatever you are asked. but the vast majority here are MONEYSAVERS so theres no need to bhe harsh to someone for trying to save money