We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Trying to read a situation and estate agent

lazer-zxr
Posts: 453 Forumite


Dream house appears on market for £285k.
It's in need of work
Offered £272k 9am today with ready deposit and mortgage agreement in principle. Same estate agent also coming to photograph and list our property tomorrow.
No feedback from the seller yet on the offer, but phoned estate agent to discuss lasting or property at 5pm this evening.
The estate agent started taking about the dream house. He said it's two sisters selling it as it has been inherited. One sister had been informed of my offer, and would discuss with other sister tonight and feedback tomorrow.
He alooks said another couple viewed the property at the weekend and made an offer today. There situation is slightly different in that in order to proceed, the man has sold his current property to his partner and so now he's able to proceed with his offer, which is also in the £270's (though from the tone I understood the other parties offer to be higher). The estate agent said he'd have a chat tomorrow about it when he visits our property.
My question is ..... I'm not sure there is another party .... and would this estate agent be playing us? If we don't get this other house ..... we won't list ours ..... so I think it's in the estate agents interests to help us buy the other property . Is this a common tactic? Or maybe there is another party ..... I don't want a bidding war.
It's in need of work
Offered £272k 9am today with ready deposit and mortgage agreement in principle. Same estate agent also coming to photograph and list our property tomorrow.
No feedback from the seller yet on the offer, but phoned estate agent to discuss lasting or property at 5pm this evening.
The estate agent started taking about the dream house. He said it's two sisters selling it as it has been inherited. One sister had been informed of my offer, and would discuss with other sister tonight and feedback tomorrow.
He alooks said another couple viewed the property at the weekend and made an offer today. There situation is slightly different in that in order to proceed, the man has sold his current property to his partner and so now he's able to proceed with his offer, which is also in the £270's (though from the tone I understood the other parties offer to be higher). The estate agent said he'd have a chat tomorrow about it when he visits our property.
My question is ..... I'm not sure there is another party .... and would this estate agent be playing us? If we don't get this other house ..... we won't list ours ..... so I think it's in the estate agents interests to help us buy the other property . Is this a common tactic? Or maybe there is another party ..... I don't want a bidding war.
0
Comments
-
You went in too high IMO.0
-
Sounds like the EA would rather sell this dream house to someone who is proceedable.0
-
I am proceed able. Deposit ready and mortgage agreement in principle. I can purchase when offer is accepted.
It doesn't sound like it from your first post.
It sounds like your current property isn't even on the market yet....Same estate agent also coming to photograph and list our property tomorrow.
Or are you saying that you don't need to sell your current property in order to buy the new one?0 -
-
The EA would rather sell to someone who has a property to sell with them, they effectively double their fee but both the EA and vendor would rather one sale than none.
As others are you able to proceed without the sale? If so make that clear to the EA, it will make your offer more attractive. If you are unable to proceed without the sale then you will have to decide whether to risk selling or not.
I would go for selling anyway if you need the sale to purchase, you can always change your mind up to exchange and then you will be in a proceedable position.0 -
Oh that age old EA tactic of other buyers magically appearing as soon as you put in an offer....
Yes you're being played.
Same thing happened to us before we bought where we are living now. House we viewed and put an offer in on had been on the market for over 6 months, on at £365 we offered £350. Offer rejected because apparently two other buyers had miraculously turned up the day we put our offer in....!
We then had to go to sealed and final bids, EA was incredulous that we'd not increased our offer and stuck at £350. I thought it was funny the EA was so insensed and his bully type tactics on the phone certainly didn't make me want to increase my offer. Stuck to my guns and amazingly the 'other buyers' had found different properties and our offer was accepted.
BF0 -
AnotherJoe wrote: »And that mortgage offer is not contingent / reliant upon any monies from sale of your current residence ?
That's correct. I don't need to sell to purchase the new house.0 -
Is the EA aware of that ? They may have assumed you need the sale, as most people would.
Ok so If they are aware, then given this is a "dream house" only just on the market (I think that's what you imply) why do you think it's unlikely there are other bidders ?
It's not in the EAs interest to jeopardise the the deal for what will be a tiny amount of increased commission.0 -
My question is ..... I'm not sure there is another party .... and would this estate agent be playing us?
The EA wants the property sold in order to get their commission.
If your offer is rejected, it will be because it's unacceptable to the sellers.
If the EA really is fibbing about 'another party'- it could well be because the seller won't accept your offer, and it's a strategy to make you increase your offer to something that the seller will accept.
But, bear in mind that when one person makes an offer, the EA will typically phone around anyone else interested in the property to tell them. This might focus other people's minds into making offers as well.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.3K Work, Benefits & Business
- 599.5K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards