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

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

    Guys,

    Unusally I am here on a questions related to Office car Parking, but after getting feedback here all my car parking issues are sorted.!!!!

    I am in the process to change my house, price agreed for my house last year & now waiting for a property I could buy. But one I liked was taken off market end of last year at that time they were not ready to take offer from me as mine was not sold at that time and back in market now. While it was off the market I talked to EA and made him aware that I sold mine and looking for something like that one. EA & owner fully aware they have a interested buyer readily available. Now they decided to raise asking price by 5%.!!

    How should I approach this? Don't want to pay too much but keen on that property..Any specific strategy I can apply..?? Thanks.

    #2
    Call Saul Goodman for the best house buying strategy

    Comment


      #3
      Let someone else deal with your negotiations so it doesn't become clear to the agent and seller you're completely clueless and they put the price up again.
      Last edited by northernladuk; 16 January 2020, 03:31.
      'CUK forum personality of 2011 - Winner - Yes really!!!!

      Comment


        #4
        Offer what you want to pay and be prepared to walk away. If you really want the house, you have to decide what it's worth to you to have it.

        Comment


          #5
          Originally posted by ladymuck View Post
          Offer what you want to pay and be prepared to walk away. If you really want the house, you have to decide what it's worth to you to have it.
          +1 - you can either offer the asking price and be accepted or offer a lower price and (really) risk being rejected.

          Do not take house buying personally, shop around and see what is on offer. If you wish to pay below asking price look for properties that have been on the market a while especially those that are without furniture.

          If you want to know the history of a property on rightmove there are browser plugins that would help. Search for Property Log in the chrome extension store and give them some money if it's useful.
          merely at clientco for the entertainment

          Comment


            #6
            As a cash buyer, you should really be paying less, not more, than the asking price because you make the sale a lot easier for both estate agent and vendor - unless of course the property is already at rock bottom or they have dozens of people lining up to make offers.

            In your position I'd just make an offer - asking price less 5-10% maybe, confirming that you're a cash buyer and want a quick purchase, and explain that you're also viewing several other properties this week so it'd be useful to get a quick answer. The estate agent and vendor will probably come back to the negotiating table very quickly and you then settle for a price somewhere between 10% and 0% off the original asking price (personally I'd never let it go back up to that original price, just to teach the slimy b*ggers a lesson). Be willing to walk away if they hold firm, they'll almost certainly come back to you.

            Another question you have to ask yourself is this: if the vendor and estate agent are willing to play these little tricks this early on in the process, how confident are you that any purchase will go through smoothly without more mischief on their part?

            Comment


              #7
              Offer them 7% less than your original offer. Tell them that your offer will reduce by 2% for every additional day beyond the end of the week.

              **** them. There will always be other houses.
              ---

              Former member of IPSE.


              ---
              Many a mickle makes a muckle.

              ---

              Comment


                #8
                They have a fish on the hook and reeling you in, they know you will cave in an pay the extra

                Pay it if you want it if non London 5% prices zand enjoy the house you want and stop stressing


                Sent from my iPhone using Contractor UK Forum

                Comment


                  #9
                  Never forget.

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

                  Comment


                    #10
                    Thanks very for the responses..Just to add bit more details..

                    1. Last time this property was in the market for nearly 7 months and marked as 'sold stc' twice towards end of year as sales didn't go through, when asked EA they are clear it wasn't due to any survey issues.
                    2. Property is marketed by 2 agencies, I was dealing with one of them from begining they are aware of my interest & position, haven't talked to other one
                    3. Its not in London but South East

                    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 > ???

                    Which could work..? BTW I am doing all kinds of reserach around propery in Rightmove/Zoopla etc..

                    Comment

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