| Estate agents/ property buyers. 15:34 - Apr 26 with 2432 views | DeepBlueSea |
If you received a reply after making a (10k below asking price) offer on a property saying
“Due to the property only being significantly reduced, we have got more viewings booked in to view the property over the coming week.
The vendors have asked if you would come up closer to the guide price and they will cancel the viewings that are booked in and market the property as sold.“
What chances they are being genuine? What chances this is just what all agents say. After all, why wouldn’t you? |  | | |  |
| Estate agents/ property buyers. on 15:35 - Apr 26 with 2387 views | hype313 |
If they were that confident they would get better offers over the asking price then they wouldn't be asking you to add a little more. |  |
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| Estate agents/ property buyers. on 15:37 - Apr 26 with 2368 views | Tractor_Buck |
It's a long winded way of telling you that you haven't offered enough, but if you offer a bit more you might get it. Coupled with a bit of pressure by hinting about other interest which may or may not actually exist.
Source: 10 years in Estate Agency |  | | |
| Estate agents/ property buyers. on 15:42 - Apr 26 with 2314 views | clive_baker |
Impossible to know isn't it.
Part of me would want to tell them that they can't have their cake and eat it. If they want to keep doing viewings I'll also keep looking around. Equally if they're talking about a few grand, maybe it's worth sucking it up if you really like the place. I had to do that when I was fed with the same line, I put a few more grand down but said unless viewings are cancelled and its marked under offer I'm out. But the market was mental at the time.
Is there anything else you can leverage that doesn't involve more money? Complete quickly? Are you out of a chain? etc. I would be tempted to say 'look I've offered what I think it's worth, I'm a rock solid buyer not here for games. If we agree the sale and get it off the market we can get this completed quickly'. There has to be value in that in this market. |  |
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| Estate agents/ property buyers. on 15:56 - Apr 26 with 2233 views | DeepBlueSea |
| Estate agents/ property buyers. on 15:42 - Apr 26 by clive_baker |
Impossible to know isn't it.
Part of me would want to tell them that they can't have their cake and eat it. If they want to keep doing viewings I'll also keep looking around. Equally if they're talking about a few grand, maybe it's worth sucking it up if you really like the place. I had to do that when I was fed with the same line, I put a few more grand down but said unless viewings are cancelled and its marked under offer I'm out. But the market was mental at the time.
Is there anything else you can leverage that doesn't involve more money? Complete quickly? Are you out of a chain? etc. I would be tempted to say 'look I've offered what I think it's worth, I'm a rock solid buyer not here for games. If we agree the sale and get it off the market we can get this completed quickly'. There has to be value in that in this market. |
Thanks, that’s good advice. I’m not in a chain, I have about 50% of the money as a deposit, and my salary makes borrowing the other 50% relatively straightforward, so I’m probably an attractive buyer, thinking about it.
I guess I’ve just also been the seller before, so I know exactly how the agent I hired would talk to me about a sale. I’ve never, ever been advised to take the first offer, even when I’ve been prepared to. | | | |
| Estate agents/ property buyers. on 16:00 - Apr 26 with 2217 views | clive_baker |
| Estate agents/ property buyers. on 15:56 - Apr 26 by DeepBlueSea |
Thanks, that’s good advice. I’m not in a chain, I have about 50% of the money as a deposit, and my salary makes borrowing the other 50% relatively straightforward, so I’m probably an attractive buyer, thinking about it.
I guess I’ve just also been the seller before, so I know exactly how the agent I hired would talk to me about a sale. I’ve never, ever been advised to take the first offer, even when I’ve been prepared to. |
You're a very attractive buyer, especially in this market. Chains are falling down as people struggle to access funding. Interest rates might be going up again as inflation is falling slower than expected, that won't help.
I would lay your position on thick. 1 in the hand is worth 2 in the bush and all that. | |
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| Estate agents/ property buyers. on 16:00 - Apr 26 with 2217 views | Daninthecampo |
Falling house prices and rising interest rates means its a buyers market, stand firm! | | | |
| Estate agents/ property buyers. on 16:09 - Apr 26 with 2186 views | Sarge |
The chances of an estate agent being genuine are zero but it depends on how much more they’re essentially asking for and how much you want the house as to whether you risk calling their bluff. | | | |
| Estate agents/ property buyers. on 17:14 - Apr 26 with 2067 views | blue62 |
How much do you want the property?
I was in a similar situation a few weeks ago with the vendors saying the same thing and others are right they are trying to get as much as they can, but wouldn't we all.
I upped my offer as I wanted the place and said that was as high as I would go. Fortunately they accepted at 5k below asking price.
If you really want it then £5k or even £10k is not a lot over the term of the mortgage. But only if you can afford it. |  | | |
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| Estate agents/ property buyers. on 20:33 - Apr 26 with 1933 views | BlueandTruesince82 |
Can said estate agent not illicit a counter off from them or give you a guide as to what they'd accept? Feels like it's sort of their job to do that?
An indication on what they are thinking would be all you need to make your mind up |  |
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| Estate agents/ property buyers. on 20:37 - Apr 26 with 1916 views | soupytwist |
Estate agents seem to use a version of the English language that is unique to them.
What does any of that actually mean - "only being significantly reduced, we have got more viewings booked in to view the property over the coming week.", "come up closer to the guide price" and "market the property as sold."?
It's all gobbledygook. |  | | |
| Estate agents/ property buyers. on 21:18 - Apr 26 with 1853 views | Trequartista |
As an aside, it's 2023, why do we need estate agents? |  |
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| Estate agents/ property buyers. on 02:09 - Apr 27 with 1685 views | SuperKieranMcKenna |
| Estate agents/ property buyers. on 21:18 - Apr 26 by Trequartista |
As an aside, it's 2023, why do we need estate agents? |
Because half of Essex would be unemployed. | | | |
| Estate agents/ property buyers. on 16:50 - Apr 27 with 1485 views | DeepBlueSea |
| Estate agents/ property buyers. on 17:14 - Apr 26 by blue62 |
How much do you want the property?
I was in a similar situation a few weeks ago with the vendors saying the same thing and others are right they are trying to get as much as they can, but wouldn't we all.
I upped my offer as I wanted the place and said that was as high as I would go. Fortunately they accepted at 5k below asking price.
If you really want it then £5k or even £10k is not a lot over the term of the mortgage. But only if you can afford it. |
Yeah, it’s £33 a month, plus interest, it’s not going to be crucial.
The agent has responded with “ After speaking further with the daughter of the vendor, they are going to come up to Hxxxx and discuss the offer on the property with her mother on Saturday.” It sounds fairly promising to me, but who knows? | | | |
| Estate agents/ property buyers. on 19:14 - Apr 27 with 1386 views | Pinewoodblue |
Have you checked to see if they have reduced the asking price ,presumably they would have had to to attract fresh interest, unless of course it is just a marketing ploy.
Strange how the Estate Agent didn’t come back to you with a lower price.
I would ask for them to put a price to you. |  |
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| Estate agents/ property buyers. on 10:55 - May 2 with 1129 views | DeepBlueSea |
Update:
After “thinking over” the offer they have accepted it. Thanks to all who advised me to stand firm! | | | |
| Estate agents/ property buyers. on 11:08 - May 2 with 1075 views | belgablue |
| Estate agents/ property buyers. on 10:55 - May 2 by DeepBlueSea |
Update:
After “thinking over” the offer they have accepted it. Thanks to all who advised me to stand firm! |
Congrats! |  |
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