FTB - What to say to estate agents who ask my budget?

Eponym

I'm a first time buyer and when ringing estate agents, many of them take my details to send me similar properties. I'm happy for them to do this as although I'm primarily using Rightmove, I may find out about properties sooner this way.

However, in order to know what properties they should send me they have to ask what my budget is.

I'm obviously a little hesitant to tell them! If I offer on a house at £118k but they know I can go up to £125k, they'll tell the vendor that, who may push for a higher offer.

Does anyone have any ideas how to get around this?

Many thanks

Lokolo

When you offer you say £118k and say that will be your one and only offer. That way you never get into any possible negotiations and if they reject it you just move on.

dominoman

Tell them your real max budget. Worry about the negotiations later.

The house will find it's natural price in any case.

drdpj

I would just say that I'm looking at properties in the region of £x - that doesn't mean you can afford it, it might mean that you're prepared to bargain them down to what you can afford

Dan-Dan

when we were asked this , we said anything up to 250k , but that we were aiming at 180/190k , this meant we were supplied details of a wide ranging amount of houses and kept the EA suitably in the dark , but also peaked their interest enough to send us houses at 250 down that could possibly be `stretched for`

Little did they know obviously that we werent ever going to go over 200k

G_M

Tell them you are interested in properties between £X and £Y, where X is an amount below which you know properties will not meet your standards/requirements, and Y is an amount a bit above what you can afford.

bouicca21

I have told the EAs more or less exactly what GM suggests, with the caveat that I am only prepared to go to the top end if the house ticks all my boxes and does not need any money spending on it.

Eponym

Great suggestions, thanks everyone!

Better_Days

Bear in mind that EA's will probably ask you to view properties that are over your top budget anyway.

Dan-Dan

And under , if desperate!

G_M

Dan-Dan wrote: »

And under , if desperate!

and with half as many bedrooms as you've said you want..