How Long to Wait After Putting in Offer of Asking Price (due to Xmas)?

AnotherJoe

So you are saying that despite having an offer they think the vendor will take (and despite it being the law they should pass that on) , the EA will on on their own initiative and without telling the vendor, withhold the offer and wait a few days?

glasgowdan

AnotherJoe wrote: »

So you are saying that despite having an offer they think the vendor will take (and despite it being the law they should pass that on) , the EA will on on their own initiative and without telling the vendor, withhold the offer and wait a few days?

Yes. For a fact.

When's the last time you bought/sold?

Philuk

glasgowdan wrote: »

Wrong. Agents do this all the time, they simply don't contact the seller for a few days at times, or they tell them about the offer and suggest waiting before replying. Whether it's 170 or 171k they still want the highest price possible as that's how they sell their service. Sold pricescreate a lot of business if clients can see an agent regularly achieves asking price or over.

Most price don't achieve asking.

http://news.sky.com/story/housing-market-84-of-completed-sales-below-asking-price-10704803

gemnomnom

Hi all,


Thanks for the replies.


I think the house was overpriced at £220k and that is why they have dropped it £50k and did not previously have any offers. I'm not too concerned about it not having had offers, as it's only been at £170k since 05/12/16.


It is a 4 bed detached house but it is in need of modernisation and repairs. A lot of buyers will be put off too as the owners have ten :eek: dogs so the carpets, gardens etc. need cleaning/replacing.


Three houses that have sold on the same street this year from what I can see:
3 bed semi - £175k
4 bed bungalow - £172.5k
3 bed semi bungalow - £115k.


Funnily enough we have seen a house with the same EA on sale for £185k. My mum has advised against booking to view this, in case they think our max budget is £185k. I'm not sure I agree with this though, because our intention would to get it to the £175k mark anyway.


Thanks all.

martinthebandit

Personally I think it's perhaps time you stopped listening to your mum so much

martindow

gemnomnom wrote: »

Funnily enough we have seen a house with the same EA on sale for £185k. My mum has advised against booking to view this, in case they think our max budget is £185k. I'm not sure I agree with this though, because our intention would to get it to the £175k mark anyway.

Your mum seems to have lots of opinions on your house-buying!

I would take a little less notice of her views and do what you think is right. Coming on here to get more opinions is a good sign. You will get a variety of responses to help you decide where to go next.

Surrey_EA

glasgowdan wrote: »

Wrong. Agents do this all the time, they simply don't contact the seller for a few days at times, or they tell them about the offer and suggest waiting before replying. Whether it's 170 or 171k they still want the highest price possible as that's how they sell their service. Sold pricescreate a lot of business if clients can see an agent regularly achieves asking price or over.

glasgowdan wrote: »

Yes. For a fact.

When's the last time you bought/sold?

Given there are hundreds and hundred of thousands of offers made on properties each year, with tens of thousands of different estate agents it is inevitable a few might adopt such a strategy. However, to suggest this is the norm, or even particularly commonplace, is simply not true.

gemnomnom

Haha I forgot to mention my mum is CRAZY. But she has bought a house, so has more experience than me!

Surrey_EA

gemnomnom wrote: »

Haha I forgot to mention my mum is CRAZY. But she has bought a house, so has more experience than me!

Lots have crazy people have bought houses, but it does not mean their advice should always be followed!

AnotherJoe

gemnomnom wrote: »

Funnily enough we have seen a house with the same EA on sale for £185k. My mum has advised against booking to view this, in case they think our max budget is £185k. I'm not sure I agree with this though, because our intention would to get it to the £175k mark anyway.


Thanks all.

That is ridiculous !!! What if you prefer it? You'd lose out on the ability to see it and make a choice. The other one might fall through anyway. And obviously you might well be willing to pay different maximum amounts on different houses, just because you might eb abel to afford more doesn't mean you'll pay that much.

The conspiracy theories around house buying get crazier by the day.