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EA pushing low offer- playing games?

rosie383
Posts: 4,981 Forumite
We have had an offer of £160k on our house (which is on the market at £164k which is a good price for this house in this area). EA demanding an answer today and says that the buyer told them they couldn't go higher ( ftb mortgage agreed in principle). My dh at work and we really need to look at this properly but EA being very pushy. How much is likely to be from just him ( we have given them notice so this is their last chance for a sale) and how much from the buyer? Surely most put in an offer at least a few grand less than they are prepared to pay or am I wrong?
What is the best way to refuse offer for at least a day without running the risk of losing the offer?
If we don't sell this time then we are confident we could sell online for similar money but save on fees.
What is the best way to refuse offer for at least a day without running the risk of losing the offer?
If we don't sell this time then we are confident we could sell online for similar money but save on fees.
Father Ted: Now concentrate this time, Dougal. These
(he points to some plastic cows on the table) are very small; those (pointing at some cows out of the window) are far away...
:D:D
(he points to some plastic cows on the table) are very small; those (pointing at some cows out of the window) are far away...

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Comments
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The EA is (supposedly) working for you, so you are free to take or ignore his advice. If the buyer is serious s/he will be willing to discuss price at this stage and wait a week or so (at least) while you consider the offer. So your reply to the EA at this stage should be that you need time to consider carefully whether you can accept such a low offer.0
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A £160k offer on a £164k asking price is not a "low offer", it's a pretty good first offer.
In fact, at that asking price, you'd be expecting that everyone will start by offering no more than £160k.
That being said, agents are good at pushing back on the first offer. It's their job after all.
So I would ask him why he thinks that the offer is their best offer, if it is indeed their first offer.
Moreover, we don't know the level of interest your property is generating. If it's been on the market for some time without much interest, I can understand that he is advising to go with what's on the table.
In any case, don't feel pressured by deadlines. They are usually just a tactic.0 -
Just tell him you'll get back to them tomorrow because your husband is at work today and you need to discuss it?
Any reasonable buyer would be able to respect that...Thinking critically since 1996....0 -
We have had a lot of interest and property is selling well here. I know it's not a very low offer, I think I'm just feeling pushed by the EA and just wasn't sure if it was reasonable for him to be pushing for an answer today.Father Ted: Now concentrate this time, Dougal. These
(he points to some plastic cows on the table) are very small; those (pointing at some cows out of the window) are far away...:D:D
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I'd remind the EA who is paying him/her.This is an open forum, anyone can post and I just did !0
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So it will not seem unreasonable if I go back to him and say we need to discuss it properly? What if I say to him that if the buyer could come back with an offer of, say, £162, then we could wrap things up today, otherwise they will have to wait. Or is that totally the wrong thing to do?Father Ted: Now concentrate this time, Dougal. These
(he points to some plastic cows on the table) are very small; those (pointing at some cows out of the window) are far away...:D:D
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Thanks. I think I will do that. The EA is a persuasive so-and-so though so I think I will let him transfer the pressure to the buyer for a while.
Thanks for the advice guys.Father Ted: Now concentrate this time, Dougal. These
(he points to some plastic cows on the table) are very small; those (pointing at some cows out of the window) are far away...:D:D
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So it will not seem unreasonable if I go back to him and say we need to discuss it properly? What if I say to him that if the buyer could come back with an offer of, say, £162, then we could wrap things up today, otherwise they will have to wait. Or is that totally the wrong thing to do?
i thought you needed to discuss it properly with your husband...?0 -
Thanks to your encouragement I rang the EA and told them what offer we would be prepared to accept or they would have to wait. He said no problem, let me go back to the buyer. Just like that. No fuss after my worrying.Father Ted: Now concentrate this time, Dougal. These
(he points to some plastic cows on the table) are very small; those (pointing at some cows out of the window) are far away...:D:D
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