Is the sellers estate agent BS'ing me?

SneakySpectator

I made an offer for £125,000 because the seller has previously accepted 2 offers for that exact amount, proof from this PatMa extension 





But the agent told me the seller is looking for offers above £130,000. I told the agent the seller has previously accepted offers for £125,000 so that is my offer I'm not going any higher. 

The agent then replied back saying the previous offers were over £125,000 and there was some "miscommunication". 

Is he bullshitting me or could the extension be showing the incorrect figures?

DE_612183

he could be - but the commission of the difference £5k is not going to be a huge amount for him - at 3% which is high he'd only get an extra £150.

Depends on how much you want the property whether you call his bluff or fold...

Hoenir

Vendor makes the decision. EA simply sits in the middle and attempts to bring the parties together. 

Tabieth

They might be BSing you but it doesn’t really matter. The decision to accept the offer or not is the sellers. 

SneakySpectator

DE_612183 said:

he could be - but the commission of the difference £5k is not going to be a huge amount for him - at 3% which is high he'd only get an extra £150.

Depends on how much you want the property whether you call his bluff or fold...

Hoenir said:

Vendor makes the decision. EA simply sits in the middle and attempts to bring the parties together. 

That's not really what I'm asking, I'm asking if the PatMa extension could be wrong and the offers really were higher than £125,000... But from my understanding PatMa pulls data from public sources and an agent can't just lie about the previous offer when public data shows otherwise? 

Unless the extension is wrong... What are the chances it's wrong and what are the chances the agent is trying to push me higher just to get more money?

Section62

SneakySpectator said:

I made an offer for £125,000 because the seller has previously accepted 2 offers for that exact amount, proof from this PatMa extension 
...

SneakySpectator said:

DE_612183 said:

he could be - but the commission of the difference £5k is not going to be a huge amount for him - at 3% which is high he'd only get an extra £150.

Depends on how much you want the property whether you call his bluff or fold...

Hoenir said:

Vendor makes the decision. EA simply sits in the middle and attempts to bring the parties together. 

That's not really what I'm asking, I'm asking if the PatMa extension could be wrong and the offers really were higher than £125,000... But from my understanding PatMa pulls data from public sources and an agent can't just lie about the previous offer when public data shows otherwise? 

Unless the extension is wrong... What are the chances it's wrong and what are the chances the agent is trying to push me higher just to get more money?

Where does the extension claim to have access to the (confidential) figure offered by a potential buyer to the vendor, and whether or not it was accepted by the vendor?

SneakySpectator

Section62 said:

SneakySpectator said:

I made an offer for £125,000 because the seller has previously accepted 2 offers for that exact amount, proof from this PatMa extension 
...

SneakySpectator said:

DE_612183 said:

he could be - but the commission of the difference £5k is not going to be a huge amount for him - at 3% which is high he'd only get an extra £150.

Depends on how much you want the property whether you call his bluff or fold...

Hoenir said:

Vendor makes the decision. EA simply sits in the middle and attempts to bring the parties together. 

That's not really what I'm asking, I'm asking if the PatMa extension could be wrong and the offers really were higher than £125,000... But from my understanding PatMa pulls data from public sources and an agent can't just lie about the previous offer when public data shows otherwise? 

Unless the extension is wrong... What are the chances it's wrong and what are the chances the agent is trying to push me higher just to get more money?

Where does the extension claim to have access to the (confidential) figure offered by a potential buyer to the vendor, and whether or not it was accepted by the vendor?

Ah I see the issue. PatMa is pulling info from the land registry and then when a property is listed for £125,000 for example on zoopla and it gets taken down as sold or subject to contract whatever PatMa must assume the offer that was accepted as the listed price. 

So it's true the seller could have genuinely been offered more than the listed price. To be honest it's a nice flat so if he rejects £125k I'll probably agree to £130k. Over the length of the mortgage it's like an extra £20 a month or something.

lfc321

The extension is showing you what price the house was previously advertised at, not what offer the seller accepted. Those two things are not the same. 

Land Registry only hold details of completed sales, not offers. 

In your shoes I would be ignoring the £125k figure and trying to find out from the agent why the previous sales fell through. 

Hoenir

SneakySpectator said:

DE_612183 said:

he could be - but the commission of the difference £5k is not going to be a huge amount for him - at 3% which is high he'd only get an extra £150.

Depends on how much you want the property whether you call his bluff or fold...

Hoenir said:

Vendor makes the decision. EA simply sits in the middle and attempts to bring the parties together. 

That's not really what I'm asking,

We won't have the answers though.

born_again

Think I would focus on why 2 buyers have pulled out so quickly...

jbainbridge

born_again said:

Think I would focus on why 2 buyers have pulled out so quickly...

This!

That said ... there will be no record of previous accepted offers. What you are seeing is the asking price.