Property Advice!! How to deal with Estate Agents??

[Whorty]

Something is only worth what someone else is willing to pay for it.

Feck ... so early in 2020 and I already agree with a oPM post .... this is spot on though

[Whorty]

So probably at the moment I will stick to Strategy-2. If I go for stratey-1 it could straight away dismissed as early offer could make them to think better offers could come sooner. I know I could end up loosing it but if someone else is desparate let them have it as otherwise end up in a bidding war!!!

Strategy-1 > Put an reasonable offer now (early) and see the response
Strategy-2 > Wait for 2-3 weeks and if its still in market put the offer, so by that time EA/Seller knows demand is less
Strategy-3 > Contact EA-2 with partner and start discussion from scratch
Strategy-4 > ???

Why? If you want the house, just make an offer (Option 1). Tell them you're serious, but you won't be messed about.

Let's assume the house was on for 450k, and they have raised it to 475k. If you're willing to pay the original asking price then go in at 430k. tell them your house has sold. If you don't need a mortgage, make sure the EA and seller know this.

They will likely reject your offer, but then remind them that they have sold twice already and the sales have fallen through. If not (as EA says) due to survey, then it's probably because the mortgage company valued the property lower than the buyers were offering and as a result the original buyers couldn't get a mortgage. This is quite common. Use this to your advantage.

Up your offer to say 440k and tell them you will leave it on the table if they reject it but will continue to look at other properties. Remind them that it is a buyers market and there are a couple of other properties you're keen on (if the EA asks which ones, don't tell them - none of their business).

If they reject your 440k, leave it there for a week. If they haven't accepted by then, ask the EA to view the property again. After viewing again, reconfirm your 440k offer saying after the second viewing that, yes, this is what you think it's worth.

Or ... put up a link to the property on here and we can all have a look and we will collectively work out what the property is worth

[ladymuck]

Or ... put up a link to the property on here and we can all have a look and we will collectively work out what the property is worth

^^This!

I love a bit of property porn

[WTFH]

Strategy-1 > Put an reasonable offer now (early) and see the response

Put in an offer that you think is reasonable, based on what you can afford, how long the chain is with your sale, how flexible you are, if you have already got any additional funding secured in principle, and any other factors that make you a "good buyer", or better than someone who has a big chain, hasn't sorted out any extra funds, etc.

Strategy-2 > Wait for 2-3 weeks and if its still in market put the offer, so by that time EA/Seller knows demand is less

If it's the house you want, it could be sold in 2-3 weeks. If you're not really interested in it, then say nothing to the estate agent for 3 months, then pounce.


But given that you already contacted the agent a few weeks ago, they know you are eager to buy that house.
When you contacted them, dod you make an offer (even though it wasn't on the market) or did you just say "I'd really really like to buy that house if it ever came back on the market"?

[WTFH]

oh, and does it have parking?

[WTFH]

Is it this?

Or are you buying Dim's place?

But since Frogmore Cottage isn't on the market yet, perhaps somewhere close to it?

[LondonManc]

^^This!

I love a bit of property porn

Bit of a tangent, but I'm retiring here: 5 bedroom penthouse for sale in Headland Road, 15 Azure, Headland Road, Newquay, Newquay, TR7

I hope.

[eek]

Bit of a tangent, but I'm retiring here: 5 bedroom penthouse for sale in Headland Road, 15 Azure, Headland Road, Newquay, Newquay, TR7

I hope.

Newquay - it's far better than it was but no thanks.

[LondonManc]

Newquay - it's far better than it was but no thanks.

Hate to break it, you weren't invited.

[ladymuck]

Bit of a tangent, but I'm retiring here: 5 bedroom penthouse for sale in Headland Road, 15 Azure, Headland Road, Newquay, Newquay, TR7

I hope.

Nice! On a sunny, calm day

Why oh why oh why do people have those godawful outside baths?? That's basically what a jaccuzi is.