Part Ex offer made - how lond do I have to wait?

JoJoArmani

Hi

I've read that you should wait for EA to contact you after an offer has been made and not to seem too keen.

Is the EA's silence good or bad?

Both houses are on the market with the same EA- I understand that they are not working in my best interests in the the part ex as I won't be paying their fees.

I have been offered 83k for my house in part ex on a prop on the market at 139950 (was 149950 apparantly). I have 45k to put towards my next property. EA told me they want full asking price seeing as it is part ex. Said no way can I afford that and even if I got asking price of £95k it would have been a streach. They know my budget as I have been looking at houses with them for a while - so how do they think I can afford £140k after giving them my house for 83k I'll never know!

Anyway told them the best I could do would be about 128k. They have sold properties for £133k and £139k in the past few months (I suppose when they were on at £149k) and they now need to sell the remaining 2 my April for tax year end.

This was yesterday late morning and have heard nothing since! Yet they were very quick to contact me twice in the morning to tell me the situation regarding the part ex offer.

I have also gone dual agency as of this morning and the other EA sais they would tell my 1st EA about this - but still I have heard nothing - which I think is a bit odd - I expected them to ring me trying to convince me not to go dual.

Suppose I just want a bit of encouragement to tell me I've got a chance with this offer! I've been on the market since May 07 and need to get out of my 2 bed as I have 3 children (2 babies in our room!) and the smallest will be needing a big cot soon!

Doozergirl

If you are asking them to part exchange your property then you're not really in a position to be making cheeky offers as well. It would be standard that you don't get any favours in that situation.

I'm not really surprised that the agent hasn't returned your call. Were they offering you £83,000 and expecting the £139,950? If they were, then you're way off the mark if you want £95,000 for yours and to pay £128,000 for theirs A £24,000 difference in expectations between yours and theirs is *massive* on properties of that value.

I'm not saying don't knock them down, but I would only do that when actually in a position of strength ie. sold subject to contract. If they're taking on your house they can't pay you the full asking price and then have you knock them down on theirs What excuse can you possibly use? "My house is worth full asking but yours isn't" hardly cuts it!

They want to make a profit. It's easier to accept £128,000 from someone in a position to proceed than to take your offer and get lumbered with your house to sell too.

Sorry I can't offer much encouragement

JoJoArmani

Thanks for reply.

No if I had my asking price I would be able to offer them near their asking price. But 10k off mine means that I have 10k less to offer to pay for theirs.

Its all a pain in the bum! I would just like to be told one way or the other what they have said.

If I'm lucky I might get a lovely person come along and buy mine then this won't be a problem anymore!

JoJoArmani

Rang EA and was told the vendors had asked for my offer to be emailed over to them and they would look at it. This was on Wednesday I think.

I won't hear from them until Saturday at the earliest - more than likely Monday (as vendor contact work weekends she has 2 days off midweek).

So at least its not an outright no..... fingers crossed....

JoJoArmani

replying to my own post in case it helps any other MSE wannabies.

Builders "Places for People" cannot discount anything of the ask of £139950 (prop for land reg issues etc as per other peoples posts on builders wanting to keep their sold prices as high as poss?) - but they could up their offer on my house - from £83k to £87k. I have snapped their hand off...!

This to me is a decrease of £4k off their price without them actually discounting their price - if you know what I mean.

I was told twice that they would not offer any more for my house....

So it's worth asking - don't ask u don't get!


Good luck all house buyers and sellers - its rough out there....

mr.broderick

JoJoArmani wrote: »

replying to my own post in case it helps any other MSE wannabies.

Builders "Places for People" cannot discount anything of the ask of £139950 (prop for land reg issues etc as per other peoples posts on builders wanting to keep their sold prices as high as poss?) - but they could up their offer on my house - from £83k to £87k. I have snapped their hand off...!

This to me is a decrease of £4k off their price without them actually discounting their price - if you know what I mean.

I was told twice that they would not offer any more for my house....

So it's worth asking - don't ask u don't get!


Good luck all house buyers and sellers - its rough out there....

What an interesting signature

JoJoArmani

thank you?.....