Buying Our First Home! Advice Needed.

crispycornflake2018

Hello! 
My partner and I are first time buyers who have found our dream home. Originally, we didn't get to the view the house the first time it was on the market as it sold VERY quickly after my mom spotted it in our local paper. That sale fell through due to the buyer backing out and we were ecstatic that we were able to get a viewing. I book the viewing with Purple Bricks and liaised with our assigned estate agent. I told them my partner would be coming to view it (due to Covid restrictions it's been one person per viewing), and he fell even more in love with it. It has everything we want. It's a period property, a bit of a fixer-upper, in budget and a proper family home. Now for the issue: our viewing was the only one that took place yesterday (09/01/21). At some point between our viewing and the evening, the seller added on an extra 10k that our estate agent didn't know about when I text her in the evening to ask if it was a mistake. She made inquiries and said it was unusual that this has happened. Not even the Purple Bricks mortgage broker knew about it as all of their paperwork says the original amount. That extra ten grand now means it is out of budget, however, we were advised to write a "love letter" to the owner of the house when we wrote our feedback, which we did without hesitation.
My partner and I assume that because other buyers are offering more, the seller has got a bit cocky and decided the house is worth more which it isn't - it needs about 10-15k worth of work doing to make it livable. My question is: is this allowed? Surely they would have to stick to the original price?

cajef

crispycornflake2018 said:

'our' estate agent didn't know about when I text her in the evening to ask if it was a mistake.

house is worth more which it isn't - it needs about 10-15k My question is: is this allowed? Surely they would have to stick to the original price?

This would have been better posted in the House Buying, Renting & Selling board.

Nothing has been agreed and the vendors can ask what they want and can increase the price they want at any time if they think they can get more just as they can decrease it for a faster sale, if you don't agree it is worth more that is your opinion they obviously feel it is.

Just another point, the estate agents are not 'yours' they are selling the property for the vendors it is them that employed them and they are working for and paying their fees.

crispycornflake2018

Hello! 
My partner and I are first time buyers who have found our dream home. Originally, we didn't get to the view the house the first time it was on the market as it sold VERY quickly after my mom spotted it in our local paper. That sale fell through due to the buyer backing out and we were ecstatic that we were able to get a viewing. I book the viewing with Purple Bricks and liaised with our assigned estate agent. I told them my partner would be coming to view it (due to Covid restrictions it's been one person per viewing), and he fell even more in love with it. It has everything we want. It's a period property, a bit of a fixer-upper, in budget and a proper family home. Now for the issue: our viewing was the only one that took place yesterday (09/01/21). At some point between our viewing and the evening, the seller added on an extra 10k that our estate agent didn't know about when I text her in the evening to ask if it was a mistake. She made inquiries and said it was unusual that this has happened. Not even the Purple Bricks mortgage broker knew about it as all of their paperwork says the original amount. That extra ten grand now means it is out of budget, however, we were advised to write a "love letter" to the owner of the house when we wrote our feedback, which we did without hesitation.
My partner and I assume that because other buyers are offering more, the seller has got a bit cocky and decided the house is worth more which it isn't - it needs about 10-15k worth of work doing to make it livable. My question is: is this allowed? Surely they would have to stick to the original price if they have a contract with Purple Bricks?

Edit: to clarify, when I say 'our' estate agent, I mean the person who we have been liaising with through the process. We have been told by them that no one else has had a viewing but offers have been submitted based off photos. 

crispycornflake2018

Hi, I've moved it to the house buying forum that I didn't originally see. 
I would also like to clarify, that when I say 'our' estate agent, I'm referring to the one assigned to mine and my partner's viewing and next steps. 

Doozergirl

The vendor can ask whatever price they want to at whatever point they want.  There is no contract that dictates an asking price.  

In the same way that you can offer whatever you want to and anyone else can offer what they want to, above or below asking.  

MFWannabe

Vendor can ask whatever they want 
Buyers can offer whatever they want (within their respective budget) 
the sticking point will be when the buyer receives the mortgage valuation less than agreed price between both parties and then either seller has to reduce or buyer has to find the difference or walk away 

AdrianC

If somebody else is willing to offer more than you, without even seeing it, such is their prerogative.
If the vendor thinks they can get still more, then good luck to them.

MFWannabe

Bear in mind the EA / seller may be ‘playing’ you as you’ve said you’ve fallen in love with it, it’s your dream property etc
Remember the EA works for the seller 

MFWannabe

Bear in mind the EA / seller may be ‘playing’ you as you’ve said you’ve fallen in love with it, it’s your dream property etc
Remember the EA works for the seller 

LittleNinja

Even if they listed the price back down to the lower value they can still accept the higher amount. Nobody can force the vendor to take the original price. 
Offer what you can afford and think it is worth. If it goes over then it isn't meant to be 

Doozergirl

MFWannabe said:

Bear in mind the EA / seller may be ‘playing’ you as you’ve said you’ve fallen in love with it, it’s your dream property etc
Remember the EA works for the seller 

The EA works for themselves.  

They want to achieve a sale that both parties find reasonable, not drive the price up unnecessarily. 

Being in love with something does not provide an immediate link to being prepared to pay anything for it.