Advice please - Trying to buy a house

Nini9

I'd really appreciate some advice.
I've recently seen a house I like being sold by an elderly couple, it was on at £325,000. After doing some research similar houses in better condition had been sold on the same road this year for £310,000, so i offered £310,000.
After some consideration EAs came back to me and said the couple need £315,000 to buy their next home. So I came to an agreement and they accepted the offer.
Half an hour later I'm told that they want to sell it to me but have to decline as they've got a cash buyer offering more, can I offer more. Fast forward a few days the house is still on the market?! Am I being played? What's going on? I want the house but I don't want to be sucked in to games. Any help would be greatly appreciated! (btw I'm a first time buyer, mortgage in principal and everything in place)

armchaireconomist

Ring them up, "£315,000 remains and will expire at the end of the week. If I haven't had an answer by then i'll begin looking at other properties - have a nice day."

kelpie35

Yep, think you are being played by the EA.

Take the advice given above and stick to it.

There are too many greedy people about now and you need to look after yourself first.

Hope you are successful

m0bov

Arrr the old "mystery cash buyer" game. Oldest one in the book. Keep an eye on the add, the price might well drop in a few months! I had the exact same thing tried on me and I walked.

hazyjo

Are you sure it's still on the market? Could it be that they just haven't added the 'SSTC/under offer' on the details? Get someone to ring about it and see what they say. Sometimes people keep marketing their properties until they see evidence of a serious buyer (searches/survey, etc).

Narkynewt

Don't rush into anything. You have said yourself that houses in better condition have sold for £310,000. Imagine buying that house, then a few weeks after moving in another one comes up for sale on the same road, nicer and for cheaper!

I am in the process of buying my first home and put a few offers in on houses that I am SO GLAD we're declined at the time because I am now buying a much nicer home.

Take your time, I know it's an exciting time but you don't want to regret a purchase this big! I would wait a little, less people buy in the winter months so you will be in a better position especially being a FTB.

Your dream home is somewhere out there waiting for you!

Good Luck

Crashy_Time

Any chance of a link?

elverson

Remember the EA works for the seller's interest and not yours. It's in their interest to get the price high as their fee will probably be a percentage of the sale price.

Nini9

I've had someone call the EA, and the house is still up for sale and happy to take offers! Which is slightly annoying!

jbainbridge

Step back. You have done your research on sold prices. Sounds like 315 would have been overpaying anyway. View other houses - something will come up. If the EA approaches you again I'd be tempted to only offer the original 310!

gettingtheresometime

Nini9 wrote: »

I've had someone call the EA, and the house is still up for sale and happy to take offers! Which is slightly annoying!

Did the person speak to the person you've been dealing with or just someone in the office?


I only ask as the house my son is buying appeared to be still for sale after his offer had been accepted & I rang up asking to view the property.


Someone arranged the viewing with me but I received a phone call later on saying that they were sorry but the house had already been sold.