Tiggley Posted April 18, 2011 Share Posted April 18, 2011 I saw an advert for a house which, quite frankly, is a mess - it's filthy, the walls are cracked and damp, the garden is a jungle, it needs a new kitchen and bathroom, and it needs rewiring as well as central heating installed because it has none. It's really only interesting because it's a nice location which I normally wouldn't be able to afford, and with a bit of hard work I could probably invest money over time and do it up to a good enough standard to live in. However the money I'd need to invest would mean the total cost of the house by the time it's renovated would be the same as similar houses in the same street, so there really isn't much of a profit to be made. The only advantage is that I couldn't afford a similar house at full price, but I could afford to buy this run down one and do it up slowly over a number of years. So I go to view the house, and the estate agent basically tells me there's no point in viewing it because he's already had two asking price offers and is looking to make a decision about who to sell it to on Monday. Obviously I want to know why he even bothered letting me view the house since it's as good as sold, and he tells me that the offers were made sight unseen, before the house was available for viewing, and he has to let other people view it otherwise he could be accused of selling it to a friend for a low price without even putting it on the open market. Hmm, this sounds a bit fishy to me. Surely if he had an asking price offer he'd just sell and not waste people's time? A similar house down the street is fully modernised and has been on the market for a year, during which the asking price has dropped twice. I am somewhat peed off about him wasting my time, though I don't mention it. I tell him I could offer 20k below the asking price, with no chain and a 30% cash deposit. He says he'll call me, but since he has two asking price offers I obviously won't be offered the house. What do you think? Are there really so many people who want to buy a house which is too much of a mess to live in? Is he telling the truth and wasting my time, or is he playing some sort of silly estate agent game? Quote Link to comment Share on other sites More sharing options...
General Congreve Posted April 18, 2011 Share Posted April 18, 2011 If it's still on the market shortly and he hasn't got back to you either, then you'll know he was probably full of sh1t. Quote Link to comment Share on other sites More sharing options...
wherebee Posted April 18, 2011 Share Posted April 18, 2011 If it's still on the market shortly and he hasn't got back to you either, then you'll know he was probably full of sh1t. as in other threads. put the offer in writing, keep a copy, and make it clear to the estate agent that you will be checking that the vendor was shown your offer Quote Link to comment Share on other sites More sharing options...
Mildura Posted April 19, 2011 Share Posted April 19, 2011 I've always found it easier to find buyers for homes needing work, than those already up to scratch. The property porn we've been fed on TV for the last decade has a lot to answer for. Quote Link to comment Share on other sites More sharing options...
Van Posted April 19, 2011 Share Posted April 19, 2011 Offer asking price + 10%. Get into a bidding war with the other fictional buyers, and keep increasing your offer until the buyer picks you. Pretend you really want this house and watch the EA cream his pants as he sees £££ flashing in his eyeballs, and then pull out of the deal at the last minute. That'll show them for wasting your time. Quote Link to comment Share on other sites More sharing options...
jaynewcastle Posted April 19, 2011 Share Posted April 19, 2011 There are a lot of builders around who do buy property that needs work doing that amateur DIY'ers would be put off by. They can do the work themselves & also know mates in the business who can also help with various things Quote Link to comment Share on other sites More sharing options...
7clubs Posted April 19, 2011 Share Posted April 19, 2011 I had a similar thing happen to me today - 90 minutes prior to our scheduled viewing of a place, the agent called to inform me that an "offer at an acceptable level" had just been made and accepted and did I therefore wish to continue with the viewing, given that the house was effectively sold (ie don't bother)? I said no, on the basis that either the agent was playing silly buggers for some reason, or that the offer was very close to asking price, which I had no intention of matching or beating. Thing is, on reflection, why would the vendor (via the agent) not want a scheduled viewing to take place, as they would have nothing to lose and potentially a higher offer to gain? Quote Link to comment Share on other sites More sharing options...
RichB Posted April 20, 2011 Share Posted April 20, 2011 Thing is, on reflection, why would the vendor (via the agent) not want a scheduled viewing to take place, as they would have nothing to lose and potentially a higher offer to gain? Nice day, and 95% of viewers are tire kickers? Quote Link to comment Share on other sites More sharing options...
emmkay Posted May 20, 2011 Share Posted May 20, 2011 I have an almost identical story... We viewed this house for the first time and we liked it so we booked a second viewing and took along a builder friend with us to give us some price estimates. When we arrived at the property we were told it was now under offer. One offer was the asking price and another offer was a few thousand above. The agents called me back the next day and said they only wanted offers above asking now so I told them I was not willing to get into a bidding war and they should call me back if the deal falls through. Nearly one month later it is still listed as 'under offer' despite having an offer above asking price so I called the agent and asked them about the situation. I was informed that they are only accepting offers above asking price. I think I will steer clear of this property now as I don't believe a word I am told by the estate agents. They have also recently made another listing for the same property but without the 'under offer' tag. Quote Link to comment Share on other sites More sharing options...
emmkay Posted May 20, 2011 Share Posted May 20, 2011 I have an almost identical story... We viewed this house for the first time and we liked it so we booked a second viewing and took along a builder friend with us to give us some price estimates. When we arrived at the property we were told it was now under offer. One offer was the asking price and another offer was a few thousand above. The agents called me back the next day and said they only wanted offers above asking now so I told them I was not willing to get into a bidding war and they should call me back if the deal falls through. Nearly one month later it is still listed as 'under offer' despite having an offer above asking price so I called the agent and asked them about the situation. I was informed that they are only accepting offers above asking price. I think I will steer clear of this property now as I don't believe a word I am told by the estate agents. They have also recently made another listing for the same property but without the 'under offer' tag. Ah just spotted the text... Sanderson James Estate Agents are now in receipt of an offer for the sum of £149,000 for 21 Scarisbrick Road, Levenshulme Manchester M19 2BT. Anyone wishing to place an offer on the property should contact Sanderson James, 902 Stockport Road, Levenshulme, Manchester M19 2AD 0161 256 0808 before exchange of contracts. Quote Link to comment Share on other sites More sharing options...
GloomMonger Posted May 20, 2011 Share Posted May 20, 2011 Ah just spotted the text... Sanderson James Estate Agents are now in receipt of an offer for the sum of £149,000 for 21 Scarisbrick Road, Levenshulme Manchester M19 2BT. Anyone wishing to place an offer on the property should contact Sanderson James, 902 Stockport Road, Levenshulme, Manchester M19 2AD 0161 256 0808 before exchange of contracts. Reposession. Quote Link to comment Share on other sites More sharing options...
emmkay Posted May 20, 2011 Share Posted May 20, 2011 Reposession. Sorry to sound dim but how can you tell? Quote Link to comment Share on other sites More sharing options...
Flybait Posted May 20, 2011 Share Posted May 20, 2011 Thing is, on reflection, why would the vendor (via the agent) not want a scheduled viewing to take place, as they would have nothing to lose and potentially a higher offer to gain? Several reasons spring to mind in no particular order: 1. The agent was being honest and didn’t want to waste your time or theirs if you weren’t interested in a bidding war. If this was your first viewing (sounds like it) then you’re less likely to be a competitive candidate. The question they asked would confirm either way and save the agent time. 2. There are many agents that are lazy, why do more work when you already have an accepted offer? 3. The offer was attractive and conditional, ie. The offer required the vendor to immediately remove the property from the market. We did this for our current house. The offer was open until close of business Friday and all viewings had to stop on acceptance. I wouldn’t consider any of the above scenarios suspicious. Quote Link to comment Share on other sites More sharing options...
Travisher Posted May 20, 2011 Share Posted May 20, 2011 What do you think? Are there really so many people who want to buy a house which is too much of a mess to live in? Is he telling the truth and wasting my time, or is he playing some sort of silly estate agent game? I'd put the offer in writing and check with the vendor whether they got the offer. There are agents out there who are taking a backhander for selling cheap to their mates. Way back in the good old days of 1980s I was selling and had two agents not submitting offers to me. I'd heard rumours of this, so I set up 'buyers' who put in offers that were not passed on. The third agent wasn't playing that game but then he was from out of town. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted May 21, 2011 Share Posted May 21, 2011 Sorry to sound dim but how can you tell? with repossessions the lender has duty to obtain the best price possible for the property so whenever an offer is accepted a public notice, such as the one below, must be advertised in the local press and on rightmove until exchange of contracts and for a minimum of one week. Sanderson James Estate Agents are now in receipt of an offer for the sum of £149,000 for 21 Scarisbrick Road, Levenshulme Manchester M19 2BT. Anyone wishing to place an offer on the property should contact Sanderson James, 902 Stockport Road, Levenshulme, Manchester M19 2AD 0161 256 0808 before exchange of contracts.[/] Another way to spot a repo is houses with no furniture and tape over the taps/radiators/shower/toilet saying "Do Not Use" this is because the utilities have been disconnected. Quote Link to comment Share on other sites More sharing options...
RichB Posted May 23, 2011 Share Posted May 23, 2011 Put in a massive offer, faff them around for 3 months, then pull out. It's the only way to be sure. Quote Link to comment Share on other sites More sharing options...
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