we're too late (i think)

slipp_digby

selectcase wrote: »

I would also point out your position to the vendor I.E if you are first time buyers or allready sold stc you are procedable and in a much much sronger position than the people who have put a holding deposit down

This is excellent advice, you are in a better position than the other party.

Go in all guns blazing with the same offer, as a FTB and make sure you have a mortgage offer in principle to hand too.

In the current climate this will take out a lot of worry for the vendor and may convince them to accept your offer.

Good luck!

edit: keeping the EA out of the loop is a bonus all round!

dolce_vita

Best wishes to you.

Hope everything works out ok.



(I'd still try and knock a bit more off the price though )

selectcase

big_ging wrote: »

i spoke to the vendor today and she has been offered £115,000 by the other couple but she said i can have it for £113,000 regardless of estate agent fees etc.

so if ive understood everything on this thread she can pull out of the other offer at any point and accept my offer by not going through the estate agents as i have not been in contact with them.

I think they will have to pay the estate agent regardless of wether you have contacted them directly or not but thats a minor point - its your position/procedability that really counts.

To give you an idea - we have had loads of peole view our place and put in offers of the full asking price or 1% lower but as they were not allready sold stc we politley said not until you can proceed. we accepted an offer from a proceedable party in a chain but it broke and then accepted a lower offer from another couple who were supposidly stc but when the estate agent checked they were not sold stc.

I dont know what the asking price was but if you are first time buyers the advice i would give is be polite and say "look we love the place and really want it but we can only go to 110k but as we are ftb ers we can get going straight away asap" if thats not accepted then go to the 113k saying that perhaps you could scrape up the extra 3k. Just be careful not to play the " game" too much. If they think you are just messing around they may get fed up and reject your offer so in hindsignt if you really want this place go for the 113k - remember its a home not just an investment. When my sister was selling a while back she was getting messed around by a ftb who would take a week to get back to her whilst negotiating a price - in the meantime someone went in with a slightly lower offer but she accepted it simply because the ftb had messed her around.

selling & buying houses for a "home" does invole emotions no matter what the investor types may say.

slipp_digby

big_ging wrote: »

so if ive understood everything on this thread she can pull out of the other offer at any point and accept my offer by not going through the estate agents as i have not been in contact with them.

Yeah essentially. One thing the seller might want to look at is her contract with the current EA to see if she will incur any fees by selling it outside their agreement.

There are other threads on this which describe the circumstances under which the EA will try and 'claim' their fee anyway when a private sale goes through. I think its 'sole selling rights'.

Get this right and dodge their fees and your £113k = £115k to the seller from another offer from someone going through the EA.

We bought through house ladder by contacting the vendor directly. He had a multi agency ageement. He paid the EA nothing as we bypassed them and split the fees off the asking price.

We even had our details registered with the same EA but the lazy gets failed to send us to view the property and lost out on 4.5k commission. T***s

bigjoe

alan44 wrote: »

If the Estate Agent didn't introduce you to her, then she won't have to pay the Agents fees either.

Sorry, but that's not true at all - it is only the case when you have a sole agency agreement. I know this from experience, but don't get me started with EAs!!!!

Good luck big_ging. Let us know how you get on.

big_ging

thanks for all the replies everyone. i'll phone her tomorrow and pester her to withdraw. sorry i forgot to say that im not a first time buyer, we have a 1 bed flat which we plan to rent out whilst buying the house for ourselves, this is all in the agreement in principle and the lender is fine with it. thanks again. i'll post in a few days with some news

big_ging

by the sounds of it we're too late. bit gutted about it to be honest but ive put my offer in and said that we are ready to go ahead with the sale straight away, it may sound nasty but i hope the other couple dont sell their house for a while.