How to make a best offer

AdrianC

masatoi wrote: »

Thank you everyone for the comments.

I made an offer for £340k yesterday then I was advised to see their in house broker.

1 hour after I saw the broker today I had a call from the EA and I was told that there was a cash buyer offered a bit more than me and my offer was rejected.

It looks like I wasted my time with [STRIKE]Good[/STRIKE]fellows

Are you suggesting it's somehow the EA's fault that another buyer has offered more than you, and is in a better position?


Or are you suggesting that this other buyer doesn't actually exist, and they just don't want to sell you the house? If so, what do you think the vendor is planning to do instead of selling it...?

getmore4less

Sit back and wait, keep looking.

You may have given away too much to the in house broker.

masatoi

What I'm not happy about is that the EA and the in house broker kept saying they wanted to check everyone's financial status and put all on the table.

And 1 hour after having seen the broker I was told that the cash buyer made an offer and it was accepted.

They induced me to see the broker although they knew I wasn't winning the bid. I just feel I wasted time.

Anyways that's how the industry is like. And I already started looking at new houses.

Thanks a lot for all the advice!

AdrianC

masatoi wrote: »

What I'm not happy about is that the EA and the in house broker kept saying they wanted to check everyone's financial status and put all on the table.

That's standard.
It's two-fold. First, they're trying to sell you a mortgage. Second, they're ensuring that you can actually afford your offer. Get used to it.

And 1 hour after having seen the broker I was told that the cash buyer made an offer and it was accepted.

Lovely, an' all. But remember, there's only two possibles here...
1. It's pure coincidence and a genuine offer.
2. They lied to try to raise your offer, and have shot their client in the foot because you've now walked away.

They induced me to see the broker although they knew I wasn't winning the bid. I just feel I wasted time.

Or, just p'raps, the timing really did happen like that? What's in it for them with you seeing the broker about a mortgage that isn't going to happen? It just wastes the broker's time.