FTB offer help!

jatt

Hi All,

Hope somebody can give me some advice.


We are FTBs aswell (with MIP etc being in place) and in similar situation as OP. We had put an offer 10 days ago of £197500 for a house priced at £214950. We were told the same day that vendor was looking for £210 isshh. The agent we spoke to was helpful.

When we called the agent after 4-5 days, a kind of rude, different person (EA) said they are looking near the asking price.

I am playing the waiting game now but worried about losing the house?

What should I do? (I am thinking of putting a final time limited offer of £200k next week or should I arrange to go an view 1-2 different houses with same estate agent in same area which are priced at £200kish)

Thanks in advance

Running_Horse

jatt wrote: »

What should I do?

Do whatever is right for you, nobody here knows how much you want that house, or if there are dozens of similar ones nearby. But definitley keep looking at other houses, and you might just find the answer.

tony_baduk

OH MY GOD!

The EA is RUDE and that's being very nice. She said that our first offer of 140k was cheeky and now our second offer is again poor. She is using scare-mongering tactics to tell us that we're wasting the vendor's time and not to come back.

She phoned my wife instead of phoning me and tell us that our offer was unrealistic. She was very rude saying that you've had two viewings and this property is all ready without any work need doing. She also told us that the vendor does not want us near the property.

I said to her tough luck, we're going to look at other properties and she was very rude and unprofessional.

I added that the property has been on the market since November and it doesn't seem like a "hot cake" so for you to say 143k is unrealistic is very unprofessional.

WOW! What an experience. I'll be honest with you, I think I'm gonna leave this property for a while until a hard long think.

The missus is upset but we're not gonna give into these tactics to scare us.

Running_Horse

tony_baduk wrote: »

OH MY GOD!

The EA is RUDE and that's being very nice. She said that our first offer of 140k was cheeky and now our second offer is again poor. She is using scare-mongering tactics to tell us that we're wasting the vendor's time and not to come back.

She phoned my wife instead of phoning me and tell us that our offer was unrealistic. She was very rude saying that you've had two viewings and this property is all ready without any work need doing. She also told us that the vendor does not want us near the property.

I said to her tough luck, we're going to look at other properties and she was very rude and unprofessional.

I added that the property has been on the market since November and it doesn't seem like a "hot cake" so for you to say 143k is unrealistic is very unprofessional.

WOW! What an experience. I'll be honest with you, I think I'm gonna leave this property for a while until a hard long think.

The missus is upset but we're not gonna give into these tactics to scare us.

Sadly, you have your answer.

It would serve them right if it sits on the market for months while prices fall.

Get over it and move on (you might even get a desparate call from the EA in a few weeks).

slipp_digby

Sounds like a certain EA is not having a good time of it and has decided to play hardball to keep the Mercedes SLK. She would have been better served keeping you negotiating rather than offending you as a £143k is clearly not a million miles off.

One question - did she actually pass the offer of £143k to the vendor, as she is legally obliged to do this. If she is the bearer of bad news, tough that her obligations as an EA. Her life is much easier if you crumble and go £148k or close to it.

Go and view other properties and don't be put off by starting with a low offer again. Walk away and wait. And wait.

If this house hasnt sold in 8 weeks your £143k will look like pretty acceptable.

tony_baduk

We have decided to walk away from that property. She has put us off that's for sure. I really hope it is still on the market in a few weeks just to rub it in then.

slipp_digby - yes she did pass the offer to the vendor (so she says) and the vendor said to sod off basically!

Thanks so much for all your useful inputs to this. I'll update you if there's any further updates. What a fantastic set of members on this board.

CPhoenix

woah, I really didnt think EA's could be like that even after my experience last week!

Like yourself I'm a FTB, and despite seeing the property I'm after twice, giving them the whole info of mortgage in principal, looking at other places, etc. I've heard sack all off them; they didn't even to ask me to make an offer! A few days later, I called up the branch and said who I was and that I'd like to make an offer, to which point they said they'll call me back shortly. Almost 2 hours pass by before I get the return call, made my offer at 85% of the asking price (personally I think the asking price was rather high for a 1 bed flat) and the EA seemed totally disinterested but said I'll get a call back that day or the next.
After not getting a call back on either of the two days, I call them back the day after asking what happened to my offer. The EA again sounding as though she spends more time paying attention to her stool samples than what I had to say, said it had been rejected and if I'd waited I'd would get a letter advising as such. As I was about to hang up she asked if I was going to make another offer. My reply was that I didn't believe the property was worth hardly any more that my original offer but thanked her for her time anyway.
A few days on and I'm still waiting for the EA to chase me.. but they obviously don't care.

It leaves me wondering that; does the EA already have this property pegged for someone else and they don't want to waste their time? Also, how would I go about finding if the EA has even passed on my offer to the vendor?

Cheers

CP.

wriggly

jatt wrote: »

I am playing the waiting game now but worried about losing the house?

Bargaining hard is great if you can take it or leave it.

However, if the house is ideal for you and there are no equivalent houses for sale, you need to consider compromising, rather than giving an ultimatum.

Try £200k, and if they reject that, ask the agent if they're willing to go below £210k. This might make them offer 208k, in which case you're on your way to meeting somewhere around £205k. Is the house worth that much to you? Only you know, but if you're worrying about losing the house, then an extra £5000 might be worth it.

Kez100

Well done for those holding out against the un-professionals. A home will come your way and you all deserve them to be better and cheaper than the ones you have lost.

whirlwind

Our EA got very rude and stroppy at times (we are FTB). eg that's so much off, this has gone on long enough etc etc. We almost complained but she wants it to sell too!