1st offer rejected. Buying via a zero commission EA?

Manchester-Man

Thanks again for the advice. We got a phone call from the EA today asking if we were going to make an improved offer of our 105,000 as there are another 2 FTB who have made an offer that is also not enough so the seller invited an offer from all 3 of us to see who goes the highest as our position is alll the same. I am still unconvinced, call me a conspirator but i had big doubts that were the case. Anyway, we had agreed me and mrs we would have gone 110 max even though we thought it was more realistically worth 105. Anyway we offered a final 110k this afternoon which they said was still too low. We have another one that we like that's priced at 115,000 again but going for a second viewing on it this weekend first. Thanks for all the help.

marksoton

Manchester-Man wrote: »

Anyway, we had agreed me and mrs we would have gone 110 max even though we thought it was more realistically worth 105. Anyway we offered a final 110k this afternoon which they said was still too low.

Then let the EA know your offer stands but you're now looking elsewhere.

Having said that if you're really not sure 110K is a worthy price just walk full stop.

AnotherJoe

Sometimes it's the EA behind the scenes urging a vendor to take an offer they think is solid, but the vendors are holding out for what perhaps is an unrealistic price, and with you offering 110 i would guess that was the case here. The EA would far rather a "sure thing" than hold out for a few k and then find you drop out (which you've just done)

I wouldn't be surprised if you had a call within a week or two saying they would accept. By which time it may be too late for them if your other place works out better.

Good luck!

kinger101

Might be worth letting the EA know the offer's still on the table until you find somewhere else (or for a few days if you want to concentrate the vendor's mind). £110K is an good offer is it's marketed at £115K.

Manchester-Man

Thanks guys will do that but i've got to admit i would feel even more at risk of being gazumped if they changed their minds and decided to take the £110,000. Makes me feel that if they are willing to risk losing a buyer for a few thousand they might also take viewings after accepting ours to get that extra few thousand and accept a higher offer. Maybe thats the wrong way to see it i dont know. I would certainly feel less at ease about it than i would've if it had been accepted straight away.

The other one is the same price, needs less work doing to it in a slightly nicer area, but with a slightly smaller garden and an extra ten minutes to work. Maybe it was always meant to be this one.

lush_walrus

Manchester-Man wrote: »

Thanks guys will do that but i've got to admit i would feel even more at risk of being gazumped if they changed their minds and decided to take the £110,000. Makes me feel that if they are willing to risk losing a buyer for a few thousand they might also take viewings after accepting ours to get that extra few thousand and accept a higher offer. Maybe thats the wrong way to see it i dont know. I would certainly feel less at ease about it than i would've if it had been accepted straight away.

The other one is the same price, needs less work doing to it in a slightly nicer area, but with a slightly smaller garden and an extra ten minutes to work. Maybe it was always meant to be this one.

I think you are right, good luck with it. The right house always comes along in the end, it's just a matter of holding your cool.