What is seller playing at?

Landofwood

Next time you speak to the EA, ask them if they could recommend any other services to you to "help the sale go smoother", e.g. their recommended Broker, Conveyancer, Surveyor etc.

I guarantee they will big you up to the vendor and do their best to persuade them to take your offer.

Then don't use any of the EA's services.

Thrugelmir

Windsorcastle wrote: »

I rang and offered 7K above asking, requesting a swift response and for the seller to remove the property from the market if my offer is acceptable.

Why did you think that would clinch the deal? Is the selling price too low.

richy999

Windsorcastle wrote: »

It's very frustrating as the last place we put an offer on kept us hanging for 3 weeks without accepting the offer; they just kept coming back asking for proof of finances. With that one, I did get thoroughly fed up and withdrew the offer.

Obviously I don't know the full story but it is common practice to not accept an offer and take the house off the market without proof of funds/agreement in principal.

I assume that you have this in order if/when the vendors get back to you?

somethingcorporate

It usually takes a day or two to get proof of funds and should be asked alongside the offer being received (certainly was by my EA who just sold our flat). I think these guys are being unfair and i really wouldn't want to get into a house sale with them like that - had a few buyers who took and age to get anything done (2 weeks to instruct a solicitor!) so kicked them into touch and found someone that did want to buy our place.

mandragora_2

'I've put my flat up for sale. I really have no idea what it's worth, but I've taken the Estate Agent's advice and put it on for what they've told me is about right. In less than a week, we've had four viewings and three offers, all of them over the asking price, and then yesterday we had another offer of £7k over the asking price, but insisting that we take it off the market right now, and don't do any more viewings.

I'm so confused, and I just don't know what to do for the best. If we've had so many offers over our asking price, are we just really lucky, or has the EA got it wrong? I'm even beginning to wonder if they've deliberately under-priced it, and are rushing us so that we agree to this latest offer - maybe the last offer is from friends of the EA???.

I don't know for sure, but if this is what can happen in ten days or so, I'm wondering what we should do for the best? We want to move, and have seen a house we like, but we're only going to get one shot at this, and all our money is tied up in our home - if we get it wrong, and end up selling our flat cheaper than we should, will we regret it, if we see it go straight back on the market for £10k more than we sold it for?

I'm beside myself with worry, because I don't want to let a good sale slip through my fingers, but at the same time, a big part of me is worried we're being rushed. There's no pressure on the house we want to buy - that side of the chain is moving slowly. I feel like we're being pressured.

For now, I think I'm going to leave it for a bit longer - maybe another couple of weeks. As my wife pointed out, a couple of grand less on our selling price won't make much difference to the EA's commission overall, so of course they're going to push us to settle, but it will make a big difference to our mortgage payments - we could even have a small holiday with the difference, and it's years since we've been away - the kids deserve that after everything they've been through this past year.'

Dan-Dan

^^^^^^
Thats a good post

Windsorcastle

Landofwood wrote: »

Next time you speak to the EA, ask them if they could recommend any other services to you to "help the sale go smoother", e.g. their recommended Broker, Conveyancer, Surveyor etc.

I guarantee they will big you up to the vendor and do their best to persuade them to take your offer.

Then don't use any of the EA's services.

Thanks for this. Very cunning!! I like it!!

Windsorcastle

Thrugelmir wrote: »

Why did you think that would clinch the deal? Is the selling price too low.

I think so. Plus they put it on at a strange amount, ending in £**2,995. So I thought I would just round it up to the full 10k to show I really want it.

Windsorcastle

mandragora wrote: »

I'm so confused, and I just don't know what to do for the best. If we've had so many offers over our asking price, are we just really lucky, or has the EA got it wrong? I'm even beginning to wonder if they've deliberately under-priced it, and are rushing us so that we agree to this latest offer - maybe the last offer is from friends of the EA???.

Thanks Mandragora, and I get your point absolutely. However the other offers were UNDER the asking price, as the EA told me there had been other offers which were 'unacceptable' because the vendor is looking for 'much closer to' the asking price. Sorry if that was unclear from my OP.


Hence why I offered 7k over to try and clinch it, as I thought they would grab it.

Windsorcastle

richy999 wrote: »

Obviously I don't know the full story but it is common practice to not accept an offer and take the house off the market without proof of funds/agreement in principal.

I assume that you have this in order if/when the vendors get back to you?

Thanks Richy999, yes we have all that ready to go, so I am coiled like a cobra ready to pounce if and when they come back to us!