Estate Agents being “clever”

JReacher1

It doesn't seem much of a dilemma.  You've got a budget of £480k so if you like the house offer that and make it clear that is your best and final offer.  You will likely be rejected but then you can move on for another property.

The fact the estate agent has changed the price is basically irrelevant really and ultimately would be down to the owner as opposed to the EA.  Could be for any number of reasons,  Perhaps at Christmas time the owners wanted a quick sale so was happy to accept a low offer, the situation may have changed and they are now happy to wait longer so have put the price back up to a higher value,

welly_59

Make the offer and see what they say. 

You've got enough ammo to come in and be cheeky. Prices have gone down by 2.5% since September, which makes 550=536.
And they say another 10% this year which brings 536 down to 482.

Worth a go

diystarter7

About a year ago, a family friend, their son bought a house in Brum, and they said it was a bargain, It was advertsied at 550k  and was chain free. They did not want to offend the seller and were going to offer 520 and final offer of 525 I think. The blokes brother took over the negotiations and intiall offer was 490 and they got it for 500k on the basis of a quick sale, they completed within 4 weeks it would have been quicker but covid slowed down stuff

When buying, unless you really, really want the place and nothing comes up for sale in the area, always go low, very low and you can always up the price.

A couple of years ago one of our kids bought a detached house, they offered low but knew the price was cheap for a detached house in that area  and then one other serious contender joined in that had deep pockets. but had a house to sell. So our kid matched the price as the house is just up the road from us and was chain free and got it - its supply and demand

Thanks

Wishywashy74

Sarah1Mitty2 said:

jimbog said:

RedfordML said:

 the exact house was “reduced yesterday” to £525k. 

Now, how would you play this? Our budget is 480k but I don’t like the way the agent has gone about pricing. Or is this common? 

Was it actually the estate agent who said it was 'reduced yesterday' or did you see the drop noted on the Property Log Crome extension?

Do you mean Chrome? That extension is very handy, anyone house hunting should be using it in my opinion.

Hi, what is this chrome extension please and how do i use it?

MikeJXE

Martylaa said:

Sarah1Mitty2 said:

jimbog said:

RedfordML said:

 the exact house was “reduced yesterday” to £525k. 

Now, how would you play this? Our budget is 480k but I don’t like the way the agent has gone about pricing. Or is this common? 

Was it actually the estate agent who said it was 'reduced yesterday' or did you see the drop noted on the Property Log Crome extension?

Do you mean Chrome? That extension is very handy, anyone house hunting should be using it in my opinion.

Hi, what is this chrome extension please and how do i use it?

You would get better answers if you ask that question in Techie stuff

Sarah1Mitty2

Martylaa said:

Sarah1Mitty2 said:

jimbog said:

RedfordML said:

 the exact house was “reduced yesterday” to £525k. 

Now, how would you play this? Our budget is 480k but I don’t like the way the agent has gone about pricing. Or is this common? 

Was it actually the estate agent who said it was 'reduced yesterday' or did you see the drop noted on the Property Log Crome extension?

Do you mean Chrome? That extension is very handy, anyone house hunting should be using it in my opinion.

Hi, what is this chrome extension please and how do i use it?

PropertyLog.

jimbog

Martylaa said:

Sarah1Mitty2 said:

jimbog said:

RedfordML said:

 the exact house was “reduced yesterday” to £525k. 

Now, how would you play this? Our budget is 480k but I don’t like the way the agent has gone about pricing. Or is this common? 

Was it actually the estate agent who said it was 'reduced yesterday' or did you see the drop noted on the Property Log Crome extension?

Do you mean Chrome? That extension is very handy, anyone house hunting should be using it in my opinion.

Hi, what is this chrome extension please and how do i use it?

https://chrome.google.com/webstore/detail/property-log/jccihedpilhidcbkconacnalppdeecno?hl=en-GB
and click 'Add to Chrome'
The next time you visit Rightmove you'll see more info on pricing history

Sarah1Mitty2

Martylaa said:

Sarah1Mitty2 said:

jimbog said:

RedfordML said:

 the exact house was “reduced yesterday” to £525k. 

Now, how would you play this? Our budget is 480k but I don’t like the way the agent has gone about pricing. Or is this common? 

Was it actually the estate agent who said it was 'reduced yesterday' or did you see the drop noted on the Property Log Crome extension?

Do you mean Chrome? That extension is very handy, anyone house hunting should be using it in my opinion.

Hi, what is this chrome extension please and how do i use it?

PropertyLog.

https://www.propertylog.net/

movilogo

EAs do that all the time, more so nowadays because they know in current climate buyers will offer way less than asking prices.

Just offer what you feel fair for the house. You don't need to pay any attention to what game EA playing.

badger09

Sarah1Mitty2 said:

RedfordML said:

Saw a house we liked that over the previous 2 months dropped from 550k, to 525k to 499k at Xmas. 

Going back on Rightmove having firmed up our interest and finance, the exact house was “reduced yesterday” to £525k. 

Now, how would you play this? Our budget is 480k but I don’t like the way the agent has gone about pricing. Or is this common? 

Could you borrow money from somewhere to make up the difference?

😳
Has Sarah1Mitty2’s account been hacked?