First Time Home Buyer - Estate Agent Communication!!!

DRP

Harper123 wrote: »

If it was me after the first offer was turned down I'd ask what he actually wanted. Then if they came back with 135 I'd try 130,000 with the aim of settling on 132,500. If there was no movement at all from the seller and it had been on 3 months I'd tell the estate agent I'd leave it on the table but I was going to view other properties and I'd promptly make a couple of appointments through them to show I was serious.

Whenever I've asked this I've been told that the vendor wishes to achieve the asking price. There's not really any incentive for a seller to help the OP out by effectively lowering the asking price.

Harper123

DRP wrote: »

Whenever I've asked this I've been told that the vendor wishes to achieve the asking price. There's not really any incentive for a seller to help the OP out by effectively lowering the asking price.

On a viewing yes but when you actually start making offers there has to be some dialogue in the negotiations. It's a waste of everyone's time if you just spend two weeks making £500 increments and never actually get to the figure they want. It's much better if they come back with a counter offer. Very few people actually want the exact sale price when it comes down to it.

9ja4life

Harper123 wrote: »

If it was me after the first offer was turned down I'd ask what he actually wanted. Then if they came back with 135 I'd try 130,000 with the aim of settling on 132,500. If there was no movement at all from the seller and it had been on 3 months I'd tell the estate agent I'd leave it on the table but I was going to view other properties and I'd promptly make a couple of appointments through them to show I was serious.

This is excellent advice. I think you should hold fire for now with contacting and upping offers till you hear from the agents

Jessy1990

Some EAs are more proactive than others. We have just put an offer on our third house in 4 months and this EA are much better with calling us and making us aware if they are struggling to get hold of the sellers.

It does make a difference to the experience if there is good communication.

In terms of making another offer. I would personally still offer on the house if you like it and think it's "the one". Maybe try 132,500??
In my experience I've found I've got from 2000-7500 off the asking price. The house I've just had an offer accepted on was 5000 below asking price

Grenage

It's very easy to get emotionally attached to a house purchase, and everyone seems assume that the asking price isn't really what the seller expects.

All you can really do is make an offer or two, and move on. You don't need to revoke a refused offer - it's already been declined. The EA will get back to you later if the seller reconsiders.

The seller wants to sell, and the EA wants a sale - there are just different expectations.

DRP

Harper123 wrote: »

On a viewing yes but when you actually start making offers there has to be some dialogue in the negotiations. It's a waste of everyone's time if you just spend two weeks making £500 increments and never actually get to the figure they want. It's much better if they come back with a counter offer. Very few people actually want the exact sale price when it comes down to it.

Well, yes I agree it is much better (for buyer), but in my experience it hasn;t really happened in this way.

WKT16

Well thanks everyone for the responses, it certainly has been our mind at rest a little.

We put one 'final' offer in at £135,000, felt a little sorry for the EA agents (as per response) I was throwing my toys out of the pram and a little frustrated.
But 'Hakuna Matata', we shall see if this has made a little bit of difference.

Thanks everyone!