EA pushed us in a bidding war - advice (can I make 2 offers to the seller at the same time?)

pp556677

Mutton_Geoff said:

pp556677 said:

Part of me is fairly certain this is a huge set up by the estate agent / seller

It's not a set up. The agent works entirely for the vendor, not you. The agent is trying to maximise the price for his client. You are just a pawn in that game. Perfectly normal behaviour. See some of the other threads where vendors/agents have accepted even higher bids from others after best foot forward/sealed bids were already agreed.

We do know the agent has sold many more houses that you have and has seen almost every kind of negotiator in the book. I'd suggest getting your own ducks in a row rather than trying to second guess what's going on behind the scenes.

What I mean by "setup" is exactly what you are saying. The fact that is real or imaginary is irrelevant. Agent/seller wants to maximize sale price, so they are "set up" for that. The annoying part is that they play it like it like that is not the goal (see my previous post) - that is the farce that is cringey with bad aftertaste of tobacco and mints. I guess that is why EA have reputation they have. 

AdrianC

You seem to think the EA decides what happens... They don't. The vendor does. The EA is merely their agent.

The vendor is just a person like you or me. One who's liked the house, but equally one who's suddenly realised that they could gain or lose six months' worth of their earnings based on which offer they accept.

AnotherJoe

I had two bidders after my house,  both bid higher after initial offers.

I went with the higher bidder of the two, despite they had a chain, rather than the lower bidder without a chain, *not* because i wanted the extra money but i felt it showed they wanted it more so were less likely to flake out (and being in a chain were likely to be more committed to making it all work) , plus should the survey disclose any issues I had a higher number to come down from. 

So, equating my situation to yours, I wouldnt be accepting your lower offer, you dont seem to want it enough (which means, to me, whether thats correct or not i dont know but doesn't matter, you are less likely to hang in there if problems arise)

 

GDB2222

AdrianC said:

 I could afford to spend £10 on a loaf of bread. I'm not going to. 

I make a lot of my own bread, and there's a lot of work involved in making a really decent loaf. Maybe £10 is a bit OTT, but £5 for a decent wholemeal sourdough is an absolute bargain. 

steve866

AnotherJoe said:

I had two bidders after my house,  both bid higher after initial offers.

I went with the higher bidder of the two, despite they had a chain, rather than the lower bidder without a chain, *not* because i wanted the extra money but i felt it showed they wanted it more so were less likely to flake out (and being in a chain were likely to be more committed to making it all work) , plus should the survey disclose any issues I had a higher number to come down from. 

So, equating my situation to yours, I wouldnt be accepting your lower offer, you dont seem to want it enough (which means, to me, whether thats correct or not i dont know but doesn't matter, you are less likely to hang in there if problems arise)

 

I have never heard that logic before! Can I ask why you think someone in a chain wants it more?

pp556677

steve866 said:

AnotherJoe said:

I had two bidders after my house,  both bid higher after initial offers.

I went with the higher bidder of the two, despite they had a chain, rather than the lower bidder without a chain, *not* because i wanted the extra money but i felt it showed they wanted it more so were less likely to flake out (and being in a chain were likely to be more committed to making it all work) , plus should the survey disclose any issues I had a higher number to come down from. 

So, equating my situation to yours, I wouldnt be accepting your lower offer, you dont seem to want it enough (which means, to me, whether thats correct or not i dont know but doesn't matter, you are less likely to hang in there if problems arise)

 

I have never heard that logic before! Can I ask why you think someone in a chain wants it more?

Everybody has an ego that likes a heavy petting session. 

AnotherJoe

steve866 said:

AnotherJoe said:

I had two bidders after my house,  both bid higher after initial offers.

I went with the higher bidder of the two, despite they had a chain, rather than the lower bidder without a chain, *not* because i wanted the extra money but i felt it showed they wanted it more so were less likely to flake out (and being in a chain were likely to be more committed to making it all work) , plus should the survey disclose any issues I had a higher number to come down from. 

So, equating my situation to yours, I wouldnt be accepting your lower offer, you dont seem to want it enough (which means, to me, whether thats correct or not i dont know but doesn't matter, you are less likely to hang in there if problems arise)

 

I have never heard that logic before! Can I ask why you think someone in a chain wants it more?

They have a house to sell as well as buy, so dont want to jeopardise their sale. (because very few are willing to sell and go into rental when push comes to shove)

 

pp556677

Well I am happy to say we wiped the floor with the offer and accepted

UnderOffer

So which option did you present and the vendor accept? 

pp556677

UnderOffer said:

So which option did you present and the vendor accept? 

The max option