Leafleting houses - how does the buying process work

Deedoodee

I’m just curious about this. If you leaflet houses on a road and the owner decides they’d be happy to sell. I guess you’d chat and then go for a viewing. Maybe get an EA to value so you both have an idea of ‘reasonable cost’ and then exchange solicitors details. Would the buyer still get a survey? And renegotiate the price If the survey found something major? 

UnderOffer

Yes, you’d still get a survey, in fact if you require a mortgage to purchase the lender will insist on a survey. 

newsgroupmonkey_

I'd pay for a Level 1 survey rather than ask the EA. Costs a few hundred pounds. Let the vendor pick if you want.

If the property gets downvalued (which is unlikely, because it'll probably be the same surveyor), then you can argue the point.

user1977

Your surveyor tells you the value. I can't see any EAs being interested in getting involved!

propertyhunter

If I was the vendor, I would get free valuations from the EAs, but not instruct any of them. I'd take an average of the valuations I receive to make sure I'm getting a good price. I'd allow a bit of wiggle room for negotiation with the buyer too. 
If I was the buyer, I'd get a valuation done to make sure you're not overpaying. 

canaldumidi

You're a buyer, right?

Deedoodee said:

I’m just curious about this. If you leaflet houses on a road and the owner decides they’d be happy to sell. I guess you’d chat and then go for a viewing.

Yes unless you're willing to discuss and agree a price without viewing.

Maybe get an EA to value

An EA is unlikely to give you (buyer) a valuation unless you pay an RICS surveyor

Seller might ask EAs for valuations.

so you both have an idea of ‘reasonable cost’ and then exchange solicitors details.Yes

 Would the buyer still get a survey?  If he wishes, which is true however the buyer and seller were introduced

And renegotiate the price If the survey found something major? 

If warranted, which is true however the buyer and seller were introduced

user1977

propertyhunter said:

If I was the vendor, I would get free valuations from the EAs, but not instruct any of them. I'd take an average of the valuations I receive to make sure I'm getting a good price. I'd allow a bit of wiggle room for negotiation with the buyer too. 
If I was the buyer, I'd get a valuation done to make sure you're not overpaying. 

The trouble being that EAs are (anecdotally) notorious for giving ambitiously high "valuations" in the hope of getting you to sign up. The vendor may be realistic about lowering the asking price after a period of marketing, but in this scenario it might be unhelpful to negotiations.