FTB offer help!

slipp_digby

tony_baduk wrote: »

If the EA's call me later this week, what should I do? Shall I make another offer or simply say that's my final offer?

its a battle of wills now. it depends on how much you want it for a decent price, or how much they really want to sell (along with their circumstances finances, chain etc)

if you think its worth up to 148k, maybe inch your offers up slowly slowly (maybe 1k at a time max leaving a few days in between, let the EA chase you, dont always return their calls) to around the 145k mark and see if you get any feedback along the way.

if you jump by big increments it can give the impression of lots more to come and they may harden

of course there is a risk someone else could dive in an secure a deal while you do this.

if you can appear calm and detached (difficult if you like the property) you stand the best chance of getting a decent price.

if the property has only been on the market a short while they may also be waiting to see what other offers they get and may have higher expectations. is it worth £150k in the current market in your opinion?

tony_baduk

Cheers slipp_digby.

The property has been on the market since November. From what we understand, the vendor is going through divorce proceedings so he's quite willing to sell quick.

How about if our next offer is £143,000?

poppy10_2

I'd go for £142,000, but wait at least a week before going back.

tony_baduk

Should I make the next call in the next few days to the EA or wait for them to call me?

Doozergirl

I doubt they'll call soon enough for your liking. The vendor felt it was cheeky; you're not even negotiating at the moment. Ball's in your court unless you are prepared to walk away at £140,000. Not that being prepared to walk away is a bad thing, but if you aren't or you want this tied up shortly

benjdr

I was in almost exactly the same position as you as a first time buyer, with a very similar house price. It went something like this:
House on sale for 157k.
I put an offer in for 142k, rejected. (you don't get if you don't ask)
Waited a few days.
Put an offer in for 145k, rejected.
Waited a few days.
Placed final offer of 147k. rejected.
I took a deep breath and told the agent that that was their lot and their won't be any more offers.
4 days later, agent calls, asking if we could raise 148k, and the vendor would accept. I kept to my guns and said no deal.
1 day later, vendor accepted at 147k.
Joy.

Good luck in your purchase.

tony_baduk

Right, I've just made an offer of 143k.

Any advice on this EA. She seems very pushy and insists that this will offer will be rejected. All the usual blah blah the house has a new roof, extension and so on... She kept saying it will be rejected. And he's looking at more 148k.

She also said it's not a realistic offer.

How can I play my cards with the EA, what can I say to her to shut her up?!

Thanks in advance.

pinkshoes

I think it's a very realistic offer. What's the market like in the area? How much are you in love with this specific property?

If there's others that you like too, then if £143k gets rejected, I'd just say "never mind then" to the EA, and tell them you'll keep the offer of £143 on the table for a week and you're going to look at some other properties now.

tony_baduk

The market around the area is around 148k. We do like the property but we have set our maximum offer of around 145k.

Do EA's normally behave this way? Force you into upping your offer?

Running_Horse

tony_baduk wrote: »

The market around the area is around 148k. We do like the property but we have set our maximum offer of around 145k.

Do EA's normally behave this way? Force you into upping your offer?

Estate agents act on behalf of their clients. If my estate agent tried to force me to accept less than I thought my house was worth, he would not be my estate agent for very long. Don't take any of this house buying malarkey personally, it's just a business transaction. Oh, and nobody is forcing you to do anything.