What game is Estate Agent playing? What do you think?

glasgowdan

As above, they prob dropped price and called you first thing, and the Web listing has only just updated.

ElsieMonkey

A property on the same road, opposite, has just come back on the market. 4 double bedrooms, much better condition, for 20k more, but would require what looks like only 30k worth of work (as opposed to 70k worth of work in the one I offered on, which is also only a 3 bed - there's a severely botched DIY half attempted loft conversion hence the money this property needs to put right). Only downside seems a slightly smaller east facing garden (as opposed to a slightly bigger west facing garden).

I think I'll book a viewing and leave the vendor/EA chasing that 5k elsewhere! Good luck to them. If not, they know where I am.

I understand the "game" is to get as high a price as possible, but not at the detriment of losing a good solid reliable buyer I would say.

If they push too high they may find that anyone needing a mortgage for it will have issues since the mortgage valuation may come in lower that the offer accepted. Plus it's a property you'd want to get a full structural survey on and seriously, the surveyor will have a field day in that property. Think sometimes sellers lose sight of the bigger picture and don't recognise a good FAIR REASONABLE offer when they see it. Good luck to them.

Dan-Dan

Is the other house on with the same agent?

ElsieMonkey

Dan-Dan wrote: »

Is the other house on with the same agent?

No it's with a different agent...good and bad I guess!

Dan-Dan

any chance of some RM links to have a gander!

ElsieMonkey

Dan-Dan wrote: »

any chance of some RM links to have a gander!

Unfortunately I don't seem to be able to post links on here

warby68

Its also possible that agent was giving you first chance to get close to vendor's new price expectations.

Or vendor could have said, ok drop the price , I want to see if it draws any more offers before I accept £165k

And a few hours is nothing - vendors may not even get to talk to each other until this evening for example.

Don't chase the response just yet but no harm in speaking to the agent about the price drop, other offers etc

eddddy

Don't forget the dynamics here...

The EA would have wanted the vendor to accept your offer of £155k a few weeks ago.

If that happened, the EA would now be excitedly waiting for their £1500 to £2300 commission fee.

But instead, the EA has had to arrange more viewings, make more phone calls (to you and others), send more emails etc - and if your offer of £165k is eventually accepted - the EA only ends up with £100 to £150 extra commission.

That's bad business for the EA. The EA just wants the property to be sold, and doesn't care too much about £10k or £20k either way on the price.

It's the vendor that cares about the price.

Hoploz

Leave your offer with the EA (as you already have) and view the other one.

Is it 20k more than the new price or the old price?

dc197

ElsieMonkey wrote: »

Unfortunately I don't seem to be able to post links on here

Just paste the URL and replace the dots with the word DOT. Then someone will upgrade it to a clickable link.
e.g.
www DOT rightmove DOT co DOT uk/new-homes-for-sale/property-41117193.html

Or for rightmove, just the listing ID (the number part) will do.