Estate Agent Bluffing?

akorn77

AdrianC wrote: »

But now the vendor wants to find another buyer quickly - and reducing the asking will generate more interest.

Anyway, does it matter if the EA's "bluffing" or not? It makes no difference to whether you're going to offer - or how much - does it?

I guess not, doesn't matter. Its just very stressful, and slimeball EA's anger me as I feel he will try and coax it up.

AdrianC

akorn77 wrote: »

I guess not, doesn't matter. Its just very stressful, and slimeball EA's anger me as I feel he will try and coax it up.

It's up to the vendor whether the offer gets accepted or not - and it's up to you as to how much you offer.

[Deleted User]

Let us know what it goes for wont you ?either yourself or another buyer

akorn77

AdrianC wrote: »

It's up to the vendor whether the offer gets accepted or not - and it's up to you as to how much you offer.

Indeed. I've sent the EA some enquiries - If they come back satisfactory, I'll then make an offer (either 450 or 455).

Densol wrote: »

Let us know what it goes for wont you ?either yourself or another buyer

I wouldnt know what another buyer has offered, but I can update on my own behalf

boo_star

akorn77 wrote: »

I wouldnt know what another buyer has offered, but I can update on my own behalf

You'll know what it sold for when you check the sold prices on Rightmove in a few months though.

ReadingTim

akorn77 wrote: »

Indeed. I've sent the EA some enquiries - If they come back satisfactory, I'll then make an offer (either 450 or 455).

Is that an opening offer; or an opening and closing, best and final, take it or leave it offer?

It's an acceptable strategy if it's the former, but you still need to think about what your final offer / the maximum which you're willing to pay for the place will be.

If it's the latter, then this is a disastrous negotiating strategy, which is almost certainly bound to fail.

kdotdotdotdot

ReadingTim wrote: »

If it's the latter, then this is a disastrous negotiating strategy, which is almost certainly bound to fail.

Thinking the same thing here. Regardless of how slimy the EA, from the point of view of the vendor, they were hoping for £500k, Nearly got it, but eventually dropped to £475k. The EA says they'll accept £465k. That's already £35k lower than they were hoping to get - that's not chicken feed. I think you'll be unlucky with an offer that's another £15k lower again unless they're desperate to sell and have no other offers on the table.

The EA may well be lying about the other offers, but it's very possible that the £465k quote was the lowest he/she can push the vendor to.

As for the £10k of work it needs, that's usually a moot point unless it's structural, in which case ask the seller to make the changes. It's not for the seller to fund your new kitchen, paint, wallpaper or carpets or whatever changes you want to make to the place. If kitchen or bathroom are truly disastrous, you could knock some off for that, but if it's just a bit dated but perfectly functional, well, that's on you.

akorn77

Update:
- Offered £455k. Got rejected
- Increased my offer to £465k 1 hour later
- 5 minutes later, someone offered £475k and took it.

Sad times.

Need to think tonight about how bad I want it - could go in and offer 480k tomorrow I guess..

AdrianC

If you'd had the £475k offer accepted, what would your opinion of the vendor be if they then turned round and rejected it in favour of £480k off another buyer...?

akorn77

AdrianC wrote: »

If you'd had the £475k offer accepted, what would your opinion of the vendor be if they then turned round and rejected it in favour of £480k off another buyer...?

Its happened to me before. Fair game, money talks.