Buyer pulled out/EA questions.

bouicca21

Obviously you need to check the contract - when I was selling the contract with the EA (national chain) required a break of (I think) 3 months before we could go with another agent. Our second EA was a local firm with only one office. What a difference! That man worked his socks off for us and earned every penny of his commission.

YoungBlueEyes

The insulting offers came in REALLY low. We're valued at around £165k as is and £185k done up (new kitchen/bathroom etc) so we went on at £150k for a quick sale.
The second viewer offered £95k, upped to £99k as his 'best and final'. He thought being chain free and cash buyer he could knock 1/3rd off! The rest were only a wee bit below asking so I think we're priced ok.

We're sticking with EA1.

Thanks for your help guys !!!55357;!!!56898;

ScorpiondeRooftrouser

Th offers were too low to accept, fine. But why were they insulting? What insult to your person do you think there was in offering a low amount for a house?

Thrugelmir

YoungBlueEyes wrote: »

The rest were only a wee bit below asking so I think we're priced ok.

Then one of these may now return. If you can be flexible on the price.

YoungBlueEyes

@ScorpiondeRooftrouser - Hard to coherently explain. It felt like the guy was saying we were being greedy and had over-valued ourselves. Perhaps I was being a bit sensitive. I understand that something is only worth what someone will pay for it, but our price is reasonable (I know, the forums are full of people saying "Why won't someone give me what I believe my house to be worth?!") We based it on multiple RICS EA valuations + sold prices etc, and rounded it down for a quick sale.

How would you feel if someone only offered you 2/3's on your house?

@Thrugelmir - We'll come down a wee bit if necessary, never by 1/3 tho ha haa! The EA is ringing round the others that showed interest so that may prove fruitful. It's back online now too.

Davesnave

YoungBlueEyes wrote: »

How would you feel if someone only offered you 2/3's on your house?

We live in a property that's quite difficult to value, so I'd probably expect a few 'interesting' guesses.

But I'd treat a offer like that in the same way as I treat the person who knocks at the door and tells me how I should vote, or who asks if I'd like to save myself from eternal damnation.

No need to be rude or take offence, just wish them a good day, decline their offer and wave them farewell.

Edited to add: To be honest, I'd be more confident about the house than my ability to make the best political decision for the country, or to lead a more blame-free life!:rotfl:

ScorpiondeRooftrouser

YoungBlueEyes wrote: »

How would you feel if someone only offered you 2/3's on your house?

I'd feel it was too low, probably. Unless I hadn't had any offers in weeks, in which case I might feel it was worth pursuing.

I certainly wouldn't feel insulted, in any way whatsoever.

YoungBlueEyes

A thicker skin needed, something I never thought I'd say about myself!

dunroving

The estate agent is your contact with buyers and so a good one is like gold dust. Unless you have true expertise in negotiations and communication it's very possible that your communication with the buyer caused them to think it was OK to pull out.

A good estate agent is much more than someone who gets loads of viewings. They negotiate expertly and follow up persistently so that the sale progresses smoothly and the buyer never feels like they have the upper hand.

If I were you, I would ask the EA why they think the buyer pulled out. A woollie answer might mean you need to at least interview (yes, interview; it's 6job assignment) other EAs.

AnotherJoe

YoungBlueEyes wrote: »

@ScorpiondeRooftrouser - Hard to coherently explain. It felt like the guy was saying we were being greedy and had over-valued ourselves.

Unless the person making the offer said words to the effect of "I beleive you and your sister are greedy and have overvalued the house because of your greed", in which case you should feel offended, those thoughts are entirely yours and nothing to do with the person making the low offer.

ISTR this is a probate sale and so it's quite likely there are people who as a matter of strategy make low offers on the grounds the relatives may be happy to take what they can get as it's a windfall, plus they may have ongoing costs such as council tax, or they may be desperate to sell, and so once in a while they will snag a bargain.

Taking it personally isn't going to get you anywhere. You've had other offers why not go back to the EA and see if any of those perople would be willing to come up slightly (or indeed just see if yiu can accept one of those offers). EDIT I see you are doing this. Good luck.