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Ron J

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Went to view a house a few weeks ago on originally for 250, last sold price 180 late 2003.

Offered 190, then 192 then had offer accepted of 194 today.

I had a call not 3 hrs after the offer was accepted asking me to increase my offer to 201 as they have had a higher offer. Unbelievable!

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Went to view a house a few weeks ago on originally for 250, last sold price 180 late 2003.

Offered 190, then 192 then had offer accepted of 194 today.

I had a call not 3 hrs after the offer was accepted asking me to increase my offer to 201 as they have had a higher offer. Unbelievable!

Sounds like you're being f*cked about. I'm assuming you raised your previous bids incrementally as 'someone else' had just put in a higher offer "I reckon 192k will be accepted" etc etc.

Were I you i'd leave the offer of 194k on the table and say it's good for a week (or what have you) after which time it will be withdrawn "just in case the other buyer decides to pull out".

Ultimately, the EA maybe telling the truth but it does sound like you've been bidding against yourself.

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Went to view a house a few weeks ago on originally for 250, last sold price 180 late 2003.

Offered 190, then 192 then had offer accepted of 194 today.

I had a call not 3 hrs after the offer was accepted asking me to increase my offer to 201 as they have had a higher offer. Unbelievable!

It's a business transaction, do not let your emotions get in the way. You have your price, stick to it.

In about 6 months time, when the EA rings you again asking about the offer of 194, tell him that the offer has become 180 and valid only for 2 weeks.

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Sounds like you're being f*cked about. I'm assuming you raised your previous bids incrementally as 'someone else' had just put in a higher offer "I reckon 192k will be accepted" etc etc.

Were I you i'd leave the offer of 194k on the table and say it's good for a week (or what have you) after which time it will be withdrawn "just in case the other buyer decides to pull out".

Ultimately, the EA maybe telling the truth but it does sound like you've been bidding against yourself.

I was the only one bidding I offered 194 to secure it. After they accepted 194 today 3 hrs later they phoned me to tell me someone who looked at the house a few weeks ago has offered 200. Have told then I will only buy for 190 now if they come back to me.

Could be BS timewill tell

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I was the only one bidding I offered 194 to secure it. After they accepted 194 today 3 hrs later they phoned me to tell me someone who looked at the house a few weeks ago has offered 200. Have told then I will only buy for 190 now if they come back to me.

Could be BS timewill tell

I may have misunderstood you but when you said: "Offered 190, then 192 then had offer accepted of 194 today". Does that mean your initial offer was 190k and the EA knocked it back, then you went in higher at 192k and that was also knocked back, so you went in at 194k and that was accepted albeit for three hours? Was that the dialogue with the EA; and if so, over what timescale?

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I may have misunderstood you but when you said: "Offered 190, then 192 then had offer accepted of 194 today". Does that mean your initial offer was 190k and the EA knocked it back, then you went in higher at 192k and that was also knocked back, so you went in at 194k and that was accepted albeit for three hours? Was that the dialogue with the EA; and if so, over what timescale?

Yes all the offers we made by me and declined until today, first offer was made last Monday.

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I was the only one bidding I offered 194 to secure it. After they accepted 194 today 3 hrs later they phoned me to tell me someone who looked at the house a few weeks ago has offered 200. Have told then I will only buy for 190 now if they come back to me.

Could be BS timewill tell

Nicely executed son... personally, I think it's all bullsh1t so hold your ground and don't make any contact. Good luck.

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Yes all the offers we made by me and declined until today, first offer was made last Monday.

That does sound like they were trying you on so see how much they can rinse from you. If it really is a phantom bidder you'll soon hear within a week or two when the EA rings you back with the 'good news' - "hey, are you still interested in this property? The other person had to pull out so did you still want to offer?".

If that does happen either go back in with the original highest offer or lie and say your IFA has advised you'd only be able to get a mortgage of 185k now (or what have you), or tell the gel-laden f*cktard to feck off.

Of course, if they don't come back to you then the bidder may well have been real.

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Had similar situation last year, would we raise out offer to match the other one, seller preferred us (ah! isn't that sweet) we said 'no let the other people have it'. This was last Oct and guess what it is still not even SSTC never mind 'SOLD', it never went SSTC either. No offers for months and months and then two come along within hours.

Substitute times dates as for Jan to march 2011 and that story totally echoes us as well and property still not sstc we looking at

We've got an interesting one today we asked to view and were told got to wait and it could be done in 6 -8 weeks

time once tenant gone

We asked why not sooner but busically- the tenant is bring awkward and agents don't want to upset him so they want to wait till he goes in 6-8 weeks Tthey assured us property is definitrly for sale and on Market though. An hour later they had delisted it and it had vanished off rightmove

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That does sound like they were trying you on so see how much they can rinse from you. If it really is a phantom bidder you'll soon hear within a week or two when the EA rings you back with the 'good news' - "hey, are you still interested in this property? The other person had to pull out so did you still want to offer?".

If that does happen either go back in with the original highest offer or lie and say your IFA has advised you'd only be able to get a mortgage of 185k now (or what have you), or tell the gel-laden f*cktard to feck off.

Of course, if they don't come back to you then the bidder may well have been real.

If it does stay unsold or they come back to me I will mail the owner, my view at the moment is that 194 was never accepted by the owner.

I may be wrong and I will send an update. Basically I would never trust anything an estate agent states.

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It's a business transaction, do not let your emotions get in the way. You have your price, stick to it.

In about 6 months time, when the EA rings you again asking about the offer of 194, tell him that the offer has become 180 and valid only for 2 weeks.

Yes, the OP sounds like they are being played. I'd immediately drop my offer back to 190 and say let the other buyer have it. You'll soon find out if the other bidder was real or not.

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Went to view a house a few weeks ago on originally for 250, last sold price 180 late 2003.

Offered 190, then 192 then had offer accepted of 194 today.

I had a call not 3 hrs after the offer was accepted asking me to increase my offer to 201 as they have had a higher offer. Unbelievable!

Do not contact them.

Ask a friend to go view the house in a week or so, and for them to make an offer of 185. They'll get one of a few responses:

  1. rejected, in which case your friend can barter up until they get one of the responses below

  2. "no, we've alreay had an offer of 194 (in which case you're back in)

  3. No, we'eve already had an offer of 200 (in which case the phantom buyer really does exist)

  4. Accepted (your friend can withdraw and you can turn up again with an offer)

  5. "No, but we'll meet you at 190", in which case you know their real bottom price

In addition to finding out about the vendors response to various offers, another effect of this, is by you being quiet, and your friend messing around with lower offers, it undermines the confidence of the seller, making them more likely to accept your offers when you reappear.

'Course, if the EA or vendor are reading this thread, there's enough info for them to identify themselves and this little caper won't work.

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Getting a friend in to check is a good tactic, but there's nothing stopping the agent using the same £200k figure so not always foolproof.

Definitely playing games... stick to the £190k now.

I never knew that once the offer had been accepted, you can be budged out due to a higher offer.

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If it does stay unsold or they come back to me I will mail the owner, my view at the moment is that 194 was never accepted by the owner.

I may be wrong and I will send an update. Basically I would never trust anything an estate agent states.

Absolutely, there's no way (short of knocking on the vendor's door) how many - if any - of your bids were actually passed onto the vendor. My suspicion is none at all, the EA has a duty to obtain the best possible price for the vendor, if that means witholding lower bids from the vendor then so be it. For what it's worth, I always e-mail any offers to the EA so I then have proof should there ever suspicion of underhand f*ckwittery on behalf of the EA.

Little anecdote (which is rather embarassing in hindsight):

First house my wife and I ever bid on - back in 2007 - was an asking price of 163k. We went in intially with 155k; we were told the vendor wouldn't accept it but perhaps if we bid 157k...so we duly bid 157k (over the phone). Wife get's a voicemail message over the weekend from the EA saying that was rejected but 159k would definitely secure it. I rings up on the Monday and say okay final offer 159k. Monday pm, nothing. Tuesday, nothing. Wednesday, still nothing despite numerous phone calls to the EA (oh, he'll definitely ring you back later). In the end I sent a strongly worded e-mail (yeah, fat lot of good that would do) to their branch manager saying I was pulling out of the bidding and to take me off their records.

A few months later I check-up on Land Registry and see it eventually sold for 154k, 5k less than our maximum offer...

Long and short of it (as I know now) is the EA knew they had us and were simply turning the psychological screws, a mixture of appealing to our desire for the house (if you just bid this amount) with purposefully avoiding our calls so as to heighten our fear of 'losing out'.

Never trust a word they say.

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Long and short of it (as I know now) is the EA knew they had us and were simply turning the psychological screws, a mixture of appealing to our desire for the house (if you just bid this amount) with purposefully avoiding our calls so as to heighten our fear of 'losing out'.

There are huge numbers of people who do not do business transactions day in - day out. Salarymen, for want of a better term. Therefore are completely inexperienced when it comes to bidding for the biggest financial commitment of their lives, and are easy easy meat for the vultures that circle around. Krusty's teachings on how to buy a house do not help.

There really is no such thing as the "perfect" house or the "only one" house. If it does not suit for any reason, in this case budget / value, then move on. Especially when vultures try to play games with you. It's a buyers market already, and will be even more so in times to come.

(Ditto life partners)

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EA's should pass on every offer. If you believe they have not passed on your offer(s), then complain to the NAEA or the ombudsman.

We are instructed by vendors and earn money from them to gain the highest price that we can.

I can understand the feelings towards EA's especially from the one's that I have had dealings with, but you have also got to consider that the vendors may well be rejecting these offers or have instructed the EA not to bother them with offers below a certain figure in which case the EA does not need to inform the vendor.

You never know, but the EA could be telling you the truth as we are not all the same.

Some however do play games and will do practically anything to get a sale.

If you are confident that the EA or vendor is only trying to get more money out of you, then I would suggest standing your ground and perhaps making the offer time limited or better still play them at their own game and make it clear that you have other properties to look at. Best way is to book a viewing with the same EA for another property. Probably best to look at something a little cheaper.

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Don't play the EA's/vendor's game.

It could be a legitimate other interested party, or it could be a phantom bidder.

Either:

Drop your offer back to 190k

OR (better I think):

Go over the top, get into a bidding war and win, watch as their greedy little eyes spin, and then tell them to "f*** off"at the end of it and tell them very clearly that if you mess me around I'll mess you around.

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I cannot emphasize enough - if you make an offer, be very specific that it is on condition that the property is taken off the market immediately.

It is worth getting a friend to phone the EA later in the day and asking about the property to check that it really has been taken off (if your offer is accepted).

As I say, there is a very bad practice that EAs and vendors adopt that they continue to market the property in the hope of attracting other bids, as the first bid is used as a marker.

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SPA - interesting story, thanks for sharing.

Van , I LOVE your suggestions! Do you think if you told the agent that you would report them if you had a sniff of any foul play, that this would bring them more to your side?

CAN you ask for the house to be taken off market upon an offer being made? Guess it makes sense...

So how did this end?

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Most reputable agents - there are some- automatically stop advertising in papers and handing details etc out once a property is sstc and while they leave it on right move etc they stop all viewings etc and just keep a list of people who show interest so as to contact them if sale falls through

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Long and short of it (as I know now) is the EA knew they had us and were simply turning the psychological screws, a mixture of appealing to our desire for the house (if you just bid this amount) with purposefully avoiding our calls so as to heighten our fear of 'losing out'.

Never trust a word they say.

In the sort of situation you describe I think there is one of 2 dodgy things going on.

a] They've found out the min. the vendor will accept and have 'promised' it to a friend/relative. Conveniently then 'forgetting' to pass other offers on, or putting vendor off by implying that purchaser isn't serious/can't proceed quickly/whatever.

b] Esp. if the property was bought before prices shot up, there is a pre-arrangement to sell to a relative/son/daughter at a very low price, thus avoiding a lot of CGT and passing on an asset at the same time. But to appear on the level they have to go through the motions of pretending to sell on the open market.

Actual example from my own exp.

EA had already let out that the property belonged to someone in their lettings dept. Previously bought years before peak prices so huge increase. My reasonable offer rejected because I couldn't exchange that same day (WTF?)

Later found out that it had sold for way below both my offer and the 'official' AP.

.

Edited by Mrs Bear

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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