Just been to view a house...

jamtart6

im guessing because its in a nice area??

Reds-on-Sea

jamtart6 wrote: »

I do believe the EA (! i know i know!) as she knew I wouldn't be able to offer £160k, so we are definitely out of the running as I'd only offer £150k max!

Who says you're definitely out of the running? The estate agent?!
The estate agent will be working as hard as they can to get the best price for the SELLER (not you). My estate agent pulled the same trick with me - after the other estate agent (weekend staff) told us that there'd only been 3 viewings in 7 months and she was convinced we'd get a good deal. When we put a low offer in, it was all suddenly "oh, we've had 3 offers on that house today blah blah blah, what a coincidence etc, etc"

*yawn*

I spoke to several people about thier experiences buying a house and EVERY single one had the same/similar thing. It's the oldest line in the book. If you really want the house, put in a low offer and see what happens. The EA has to submit it. Have you got proof of these other offers? You are within your rights to ask for proof from the EA, but I don't think they have to show you. If it gets rejected, then up it until you reach the point you're not willing to pass. If you don't really don't want the house, then just walk away and wait for something cheaper.

poppysarah

jamtart6 wrote: »

but its cash offers only, else we would have snapped it up why do they do that??? what is so good about a cash offer for a vendor??

Cash offers only usually indicates a mortgage might not be available for it - for whatever reasons or you shouldn't touch it with a barge pole.

jamtart6

poppysarah wrote: »

Cash offers only usually indicates a mortgage might not be available for it - for whatever reasons or you shouldn't touch it with a barge pole.

oh that would make sense as it needs megabucks spending on doing it up... which we are willing to do..! that does make a bit more sense now. thank you

jamtart6

Reds-on-Sea wrote: »

Who says you're definitely out of the running? The estate agent?!
The estate agent will be working as hard as they can to get the best price for the SELLER (not you). My estate agent pulled the same trick with me - after the other estate agent (weekend staff) told us that there'd only been 3 viewings in 7 months and she was convinced we'd get a good deal. When we put a low offer in, it was all suddenly "oh, we've had 3 offers on that house today blah blah blah, what a coincidence etc, etc"

*yawn*

I spoke to several people about thier experiences buying a house and EVERY single one had the same/similar thing. It's the oldest line in the book. If you really want the house, put in a low offer and see what happens. The EA has to submit it. Have you got proof of these other offers? You are within your rights to ask for proof from the EA, but I don't think they have to show you. If it gets rejected, then up it until you reach the point you're not willing to pass. If you don't really don't want the house, then just walk away and wait for something cheaper.

Thats interesting, but she was basically putting us off from buying the house..why would she do that ??

Reds-on-Sea

Oh sorry, I must have missed the "cash offers" bit. It could mean that it either isn't likely to pass a mortgage valuation, or they want a very quick move? Sounds a bit dodgy, do some more digging.

Why would the estate agent try and put you off a property? It's not in their best interests!

jamtart6

Sorry reds - there were 2 houses

1. House 1 £160k - the estate agent said there was already 2 offers, and expecting 2 more, and basically wrote us off as buyers because we said we definitely couldnt offer £160k. The agent said it would most likely go for the full asking price

2. House 2 £125k - needs complete modernisation, cash offers only but it is probably because it might not pass a mortgage valuation you are right..i didnt think of that gutted!! itd be a super house to renovate!

clobber_2

"Cash offers only" won't get you a quick sale if noone looks at it because they don't have the cash.

m00m00

if a house is not fit for habitation (ie in need of extensive modernisation) then it's highly unlikely to get a mortgage, this is the reason for it being cash only offers

jamtart6

A developer would probably snap it up...gaa, iwish i had £125k!!