How to deal with estate agents?

Competsoph

Hi all,

Thanks for your great and informative responses. 

I appreciate comments regarding decoration and we were prepared for some of course but there does seem to be every single area requiring attention. 

Regarding the boiler, I agree several thousand is an appropriate figure and with having to furnish in addition to all usual moving fees this does weigh on my mind slightly. I know the current may last yet however last service was December 2016 so also hasn’t quite had much TLC as I would have liked.

My main question was how to go about offering our max of 145k. We almost have two options:
1. Go straight in and offer 145k, explain this is our max and final offer but we are keen to go ahead based on our FTB position. Also mention we feel this is an appropriate figure because of points mentioned above.
2. Go in at a slightly lower offer than our max, 143,500 for example with the view that when the EA pushes for more, we go back with our max and make  it seem like we’ve worked with them.

I have my thoughts and I think I’ve made me decision as to which would be best but what does everyone else think?

Unicorn_cottage

Keep it simple - 1. Go straight in and offer 145k, explain this is our max and final offer but we are keen to go ahead based on our FTB position. Done.

Thrugelmir

Start lower than £145k and mention the lack of boiler servicing as a concern. That way you've expressed serious interest and can ascertain what others are willing to bid. Always start lower than your final bid otherwise you have no where to go. Bidding can be a protracted affair. 

Competsoph

Hi again to those still with me! Quick update.

EA rang me today at 2ish asking for feedback. Explained we still like the property but have concerns regarding boiler and potentially requiring replacement soon and other cosmetic work required. Reiterated good position and ability to go ahead. Offered 143,500. EA said there was still people he needed to contact to get feedback (suggests no one else has rang first thing Monday AM with offer, a good sign to me).

EA called back at approx 4 with feedback from vendor. Vendor appreciates further offer however wants 150k and does not feel she can go lower. EA kept going back to the fact she reduced already from 165k however I believe reason was because no one was interested at this price. EA also said further interest since easing of lockdown and vendor doing more viewings this coming Saturday. Didn’t mention any others interested or offered at present, in fact said we have until Saturday before any new people will view hence have time to consider. I have explicitly stated we will not go to 150k due to items mentioned and our budget. EA encouraged to try to increase even slightly as ‘it sometimes happens people accept slightly less’. He’s made it quite clear though that the vendor wants 150k. I’ve told him we need to consider and will get back to him later in week.

Didnt expect vendor to accept 143,500 really but thought they may request slightly more. Sounds and feels like they won’t accept anything less than 150k dead on the nose. We’ve already discussed we can increase to 145k and think I will go back perhaps Thursday to offer this as last and final with push on good position etc. I feel quite proud that I didn’t jump straight in with another offer and happy to leave it a couple of days to consider. We are also viewing another property tomorrow so we’ll see how that goes. 

This is all very hard work!! 🧐😫

Unicorn_cottage

@competsoph still reading. Will be interested to hear how you feel after the viewing tomorrow.

Competsoph

Hi all!

Viewing today was as expected, far too small. Tiny in fact. Shame because house was nice. Area okay. I’ve been in touch about a few others on my saved list, one taken off the market decided not to sell, other SSTC! 🙄

Still considering options for going back to EA about original house. Hard not to feel like a kick in the teeth right now. Also feel like we have exhausted all potential options at present.
Just gonna have to sit tight and see what happens!

eidand

Competsoph said:

Hi all!

Viewing today was as expected, far too small. Tiny in fact. Shame because house was nice. Area okay. I’ve been in touch about a few others on my saved list, one taken off the market decided not to sell, other SSTC! 🙄

Still considering options for going back to EA about original house. Hard not to feel like a kick in the teeth right now. Also feel like we have exhausted all potential options at present.
Just gonna have to sit tight and see what happens!

yup, that tends to happen which is why virtual viewings have limited value. I did not go through all 8 pages but wasn't there a plan with room sizes as well? You can usually get a pretty good feeling about size from that.

Unicorn_cottage

Competsoph said:

Hi all!

Viewing today was as expected, far too small. Tiny in fact. Shame because house was nice. Area okay. I’ve been in touch about a few others on my saved list, one taken off the market decided not to sell, other SSTC! 🙄

Still considering options for going back to EA about original house. Hard not to feel like a kick in the teeth right now. Also feel like we have exhausted all potential options at present.
Just gonna have to sit tight and see what happens!

How much do you love the original house?

Competsoph

@Unicorn_cottage hmm love is a strong word for me right now. I love the area, the potential. I don't love the current state of it.

Does that make sense? 

Competsoph

yup, that tends to happen which is why virtual viewings have limited value. I did not go through all 8 pages but wasn't there a plan with room sizes as well? You can usually get a pretty good feeling about size from that.

Viewing today was not the house that's made up most of this discussion. I only went to view todsy as partner liked it a lot and although I liked the property and design etc, I suspected it was too small. I was right!