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Am I Being Played For A Fiddle?

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Hi all

I'd welcome some feedback on this situation...

Viewed a property that's on market right under the 3% stamp duty threshold which also comes in about RV less 15%. We like the property and attempt to put in an initial offer only to be told another party has an offer of the same figure in. Told the EA that was fine we'd match it as we are in a strong position to move ( nothing to sell, large deposit etc). He got really shirty saying " I know what you're doing, you're forcing the other offer to play their hand" and he refused to put our offer to the vendor, after a brief discussion about his role he reluctantly agreed to put the offer to the vendor.

After a few days to think we went back to EA instructing him to conctact vendor to establish what would secure the deal. After 4/5 calls asking for feedback and nothing we have finally been told the vendor has been offered 2x 30k under 3x 20k under 1x full asking and one final of 5k over asking ( taking it to 3% stamp duty! = an additional 7k in costs to the buyer). I asked for the EA to drop me an e-mail with those figures as I was on my hands free in the car he refused point blank to do this. It's been left for us to come back with a final offer. My gut is RV less 13% and sit it out. What do others think?

Cheers

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You are seriously thinking about buying at the 3% SD threshold, in this market? :blink:

I bet I know the agent too...

No 2buyornot2buy - you misunderstand I've no intention of paying more than 1%. It's RV is 290k so i intend to pay no more than around the 240k mark

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I intend to pay no more than around the 240k mark

Then why don't you offer £240k subject to a survey and give them until the end of June to see if they want to accept it or not. Make it 11am on 1st July as your deadline to give the vendor the weekend. Lay out your position if you think it is strong. An EA has to work out if you are real or just some idiot who phones up and offers a 1/4 million for something they have seen for 10 minutes ;-)

If you win you win, if you don't then you didn't think it was worth more than £240k anyway.

Buying a house is 1. Expensive, 2. Stressful, 3. Emotional.

If you can solve number 1 and number 3 then number 2 solves itself.

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Then why don't you offer £240k subject to a survey and give them until the end of June to see if they want to accept it or not. Make it 11am on 1st July as your deadline to give the vendor the weekend. Lay out your position if you think it is strong. An EA has to work out if you are real or just some idiot who phones up and offers a 1/4 million for something they have seen for 10 minutes ;-)

If you win you win, if you don't then you didn't think it was worth more than £240k anyway.

Buying a house is 1. Expensive, 2. Stressful, 3. Emotional.

If you can solve number 1 and number 3 then number 2 solves itself.

Thanks for your feedback. However I'd have to disagree with both 2 & 3. After buying my 1st property in my 20s I vowed to take the attitude of 'plenty more fish in the sea' :-D when involved in future house sales

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  • 242 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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