guitarman001 Posted May 3, 2011 Share Posted May 3, 2011 Why can't you just go straight to the owner with the price you're willing to pay - at least you know they'll know of it...? All this EA stuff is bullsh!t. Put it on gumtree for free and cut the agent out? Quote Link to comment Share on other sites More sharing options...
Swansea Estate Agent Posted May 4, 2011 Share Posted May 4, 2011 CAN you ask for the house to be taken off market upon an offer being made? Guess it makes sense... This is something that everybody should do. Why would anybody want to make an offer and when it is accepted allow the EA to continue looking for a buyer. The only way a property under offer should still be available is if the buyer was not in a position to purchase. The problem is at the moment there are many chains breaking down due to buyers not gaining a mortgage amongst other reasons. A vendor is selling for a reason and if they are waiting for their buyer to sell they could potentially lose their next property, so will ask the EA to keep offering it to ready and able buyers. Quote Link to comment Share on other sites More sharing options...
pablopatito Posted May 4, 2011 Share Posted May 4, 2011 Sure, but at the time I make an offer, the estate agent hasn't confirmed that I can afford to buy the property has he? It takes a few days to "qualify" me as a serious buyer doesn't it? During which time the EA continues to look for a buyer. Isn't that reasonable? Also, I'm not sure about the title of this thread. I've been messed around by vendors far more than I have by agents. My understanding is that agents don't like gazumping, that extra 2% commission on a couple of a grand is hardly worth the effort is it? Quote Link to comment Share on other sites More sharing options...
Van Posted May 4, 2011 Share Posted May 4, 2011 Sure, but at the time I make an offer, the estate agent hasn't confirmed that I can afford to buy the property has he? It takes a few days to "qualify" me as a serious buyer doesn't it? During which time the EA continues to look for a buyer. Isn't that reasonable? Also, I'm not sure about the title of this thread. I've been messed around by vendors far more than I have by agents. My understanding is that agents don't like gazumping, that extra 2% commission on a couple of a grand is hardly worth the effort is it? The property should be taken off the market with the proviso that the survey is carried out within 2 weeks and proof of finance is provided. If the buyer hasn't managed to get a mortgage in principle and get the survey booked within this timeframe then it would be fair that it continues to be actively marketed. Can't really say fairer than that. Agree that most agents don't like gazumping, but often properties are multi-agency and each EA is trying to secure the sale & comission, and comission structure may not be as simple as a fixed %age of the sale price. Quote Link to comment Share on other sites More sharing options...
Ron J Posted May 4, 2011 Author Share Posted May 4, 2011 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! Sorry for not updating you - It did go STC a couple of days after my offer. Quote Link to comment Share on other sites More sharing options...
waiting&watching Posted May 4, 2011 Share Posted May 4, 2011 Sorry for not updating you - It did go STC a couple of days after my offer. Just to say, I saw a house (20% added price tag compared to purchase price 18months previous) and as soon as I got home had a call from agent to say if I liked it I would have to make an offer by the Monday as they'd had an offer two days previously (?) Anyway, told him where to go. It did go SSTC a few days later, at which point I thought, oh maybe he wasn't being a lying manipulative turd, but then it mysteriously became available again after 4 days, over the next weekend. I think it was a ruse. Many a slip 'twixt cup & lip, and all that...... Three months later is still languishing, but it has been reduced!! by 0.5%!!!!!!!!!! We would buy it if they would accept £150k less than they're asking............ Quote Link to comment Share on other sites More sharing options...
mrtickle Posted May 4, 2011 Share Posted May 4, 2011 We would buy it if they would accept £150k less than they're asking............ So please offer 150k less then - if only to report their reactions back for our amusement :-) (If I read you correctly you didn't actually make an offer the first time around) Quote Link to comment Share on other sites More sharing options...
Swansea Estate Agent Posted May 5, 2011 Share Posted May 5, 2011 Sorry for not updating you - It did go STC a couple of days after my offer. Best to wait and see if the sale continues or perhaps go back to the EA and find out about the buyers situation. Maybe they are in a chain and the deal is not likely to go ahead anytime soon. If this is the case and you can move fast, then the vendor may want to sell for 194k if it means getting their house sold. Quote Link to comment Share on other sites More sharing options...
Ron J Posted July 10, 2011 Author Share Posted July 10, 2011 Now available again, the sale has fallen through after 3 months. Quote Link to comment Share on other sites More sharing options...
SaintJay Posted July 10, 2011 Share Posted July 10, 2011 Now available again, the sale has fallen through after 3 months. that means that its value will have dropped in those 3 months.... try 185k. Quote Link to comment Share on other sites More sharing options...
AThirdWay Posted July 10, 2011 Share Posted July 10, 2011 Now available again, the sale has fallen through after 3 months. So the higher offer was valid then? I think you owe the EA an apology! Quote Link to comment Share on other sites More sharing options...
Starla Posted July 12, 2011 Share Posted July 12, 2011 Now available again, the sale has fallen through after 3 months. I started reading this from page 1 and all through it (before I reached the end conclusion) I couldn't help wondering if an estate agent could honestly be bothered to reject your offer and pretend there was a higher one . How much commission do they make on each extra 1k? EA's are desperate to sell at the moment., one of my best mates is one, he just wants to get shot of properties with the least hassle possible. I'm not saying EA's are honest, because a lot aren't. If in doubt just put a note through the sellers door. Sorted. Quote Link to comment Share on other sites More sharing options...
Swansea Estate Agent Posted July 15, 2011 Share Posted July 15, 2011 With regards to commission. Many EA's are trying to tie up deals ATM for fixed price rather than percentages, so it should not matter what offers are recieved to the EA. If it fell through after 3 months, then the problem was probably nothing to do with raising finances, so a surveyor must have agreed with the offered price providing a survey was carried out. This will only give the vendor and EA confidence that the agreed price is correct, so they will still hold out for that amount. Quote Link to comment Share on other sites More sharing options...
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