estate agency dealing with offer

randomi15

Hi All,

I put an offer on a property which is below asking price and they comeback saying it is rejected

Then I increase and they say someone else has just offered x amount more. Is this their tactic to tempt you to go high so they get a better fee from seller?

I think they are not passing the offer on and simply come back saying it is rejected and maybe few weeks later if no offer did beat it then call back saying they now accept your offer

I think mostly they are poor morale and try to rip both parties off.

What is your experience ? Do you think they really pass on the offer ?

Thanks

giddypenguin

If you are unsure you could write a letter detailing your offer, and your concerns about the EA and post it through their letter box (or perhaps have a chat with the vendors).

But if you think the offer has been invented then stick to your guns and let them know your offer will last for a certain amount of time (1 or 2 weeks?) if the offer is fictitious they'll come back to you.

Hoploz

If you make a reasonable offer and there is not someone else offering at the same time, an EA would not risk losing a deal completely by telling you there is another offer, as they do not know whether you are going to offer more or walk away. They would pass on your offer. If someone else was interested also, then yes they will play you off against each other. The EA aim is to secure a sale. They do their best for a good price but if only one person is interested they will try and put a deal together to get their commission.

If the seller has said they will not accept anything less than x, they have given permission for the EA to refuse straightaway without asking, though.

randomi15

Well they seem to be playing this game almost with all agencies

I offered 275 on a 300k guide price and they said someone has offered 276 so said my max is 285 and as I am saying the guy said my colleague has said they have received an offer of 300k

That doesn't sound right to me as it changed in a second ? It is a lie and i said i am out but they showed no interest to keep me so makes me think they doing this to see if i go up and if not then call me in few days and say now it is 285?

Are they not afraid of loosing me altogether?

Hoploz

Well wait around and see if they do actually come back to you as you think they will. Sounds unlikely to me.

EA get badmouthed all the time but they are just doing their job. Some are rubbish and make stuff up when you ask a question just to keep you interested. But they rarely actually do anything to deliberately stop a person from buying a house.

alchemist.1

randomi15 wrote: »

Well they seem to be playing this game almost with all agencies

I offered 275 on a 300k guide price and they said someone has offered 276 so said my max is 285 and as I am saying the guy said my colleague has said they have received an offer of 300k

That doesn't sound right to me as it changed in a second ? It is a lie and i said i am out but they showed no interest to keep me so makes me think they doing this to see if i go up and if not then call me in few days and say now it is 285?

Are they not afraid of loosing me altogether?

An offer made can attract more people to make offers. They phone round all interested parties as soon as you have made an offer/increase your offer.

If you don't believe them. Call their bluff.

marksoton

randomi15 wrote: »

I offered 275 on a 300k guide price and they said someone has offered 276 so said my max is 285 and as I am saying the guy said my colleague has said they have received an offer of 300k

Well if that's your max it's your max.

Not really a lot more to be said is there....

ScorpiondeRooftrouser

I'm not sure why you think they are not passing the offer on. Don't you think the vendor has more of an interest in getting more money out of you than the estate agent? Why do you think the vendors would be accepting your low offers and not saying "Go back and screw him for more if you can"?

Cakeguts

I this is a popular property it is quite likely that they have had several viewings. It is also quite possible that someone offered 276k before you offered 275k. If the seller rejected the 276k then the estate agent already knew that they would also reject your 275k. Your maximum is 285k but they have already had an offer of 300k so you are not going to get this property. Look for something else.

randomi15

Well for this,

I had a similar situation and guys called back two weeks later saying buyer has had change of circumstances and now can submit ur offer

It was bloody obvious the guy was lying

House was on rightmove 8 weeks plus

randomi15

My point is agencies are lying and asking what your experience has been

That is all