Estate Agents... are they are playing games or what?

Nenen

olly300 wrote: »

Well maybe you know in your hearts of hearts this is NOT the right house for you.

You're probably right Olly... the problem is that for what we can afford we aren't going to get our 'dream home' so have to compromise somewhere. It's a question of what we compromise on????
Financially, in the long term it woud it be better to have a small house in a better location I know but for day to day living it would be better to have a decent sized house in a cheaper area. I just don't want to have a huge problem when/if we come to sell it (which hopefully won't be for at least 10 years and after council have done up the estate... but the speed they move I could be pushing up daisys by then)!:D

oasisfeverish

Nenen wrote: »

The EA told us they are being instructed by a solicitor because the sale is a subject of a court order to force a sale following an acrimonious split between the vendors. I am assuming that means one wants to sell and the other doesn't but can't buy partner out.

Interesting this comment.

It may appear that the house needs to sold due to outstanding debts by the vendors (couple?) and that the minimum threshold is this magic £245K figure (anything more is surplus). What I mean by this is that all the creditors add up to this figure, so loan, credit card, bank, mortgage, HP all have a vested interest to ensure they get their money back and a solicitor would be well aware of this as they are the one to split the funds once the completion of contracts has taken place.

My first house was up for £65K, I offered £60K which was turned down, but the EA said "I know the vendor will accept £62K". This triggered off a brain cell, the house was empty, garden overgrown, decor needed doing. Lucky enough I worked in a bank and did a credit search on the property, low and behold it was a repro, and the outstanding mortgage (have you guessed yet?)... was £61,995. The EA was Halifax....The Mortgage lender was Halifax.

You said after asking the EA of it's realistic value they said £285K, then why suggest you put in a offer of £245K?, when they have an extra £40K in the value. This does sound like the EA knows from the solicitor the minimum needed to clear the creditors.

Remember also if you do decide to increase your offer the stamp duty threshold next bracket is £250K

Hold your nerve and good luck.