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Marshmellow

Estate Agent Says There Is Another Offer From A Different Broker

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I am buying a flat in the EU. Where I live is a growing town, and having lived in London and Paris I know sure as hell never to buy in those shitholes.

It's on for 155k, but the one below which is exactly the same went for 143k in August. Its a 3 room apartment, with about 18m2 living room and dining room, 9m2 bedroom, 4m2 bathroom and 8m2 kitchen. It is right next to the main train station and bus terminal in the city centre.

All the floors need redoing and walls redone cos there are holes everywhere, and the bathroom is a shithole and needs renovation. The owner is some BTLer and obviously just bought cheap shit inbuilt IKEA warddrobes cos they do the job etc.

I offered 145k last week, the EA came back and said the seller declined and wants 150k, I said no and increased my offer to 147.5k. Still got declined and I didnt bother replying for a few days. Then I finally replied and said since the seller rejected me offer Im not buying it.

Got a call yesterday saying what about 148k. Now suddenly I have to make a decision on 148k today since there is apparently another buyer from 'another broker' waiting to buy for the same price.

Tbh it smells like ******** and I reckon im going to withdraw my offer and go back to 145k or walk away

Then again I could just buy it and get this whole stress filled property search over with

It's been on the market for 6 months - a reasonably priced apartment in the city centre between 140-160k can go in 2 or 3 days here.

Here is the apartment

http://www.nybolig.dk/ejerlejlighed/9000/jyllandsgade/103315/ae3796

Edited by Marshmellow

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I'd say the EA is bullshitting you, but for the sake of 500 quid why not just buy the flat if you still want it. If you actually like the apartment there's no point in pulling out just to spite the EA.

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This is by no means expert advice, but don't cut your nose of and spite your face for the sake of £/€500

Agents are *****, but if you can justifiably value the place at 148k, then you need to look at what the cost would be to you if you walk away to prove a point.

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Id buy it for 145k

148k makes me think

The 145k should make you think - not the 3k extra

What is 3k over the period of time you intend to hold the flat/rent spent somewhere else. If the flat works for you do what suits you.

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Meh.

You've made a solid offer.

Give yourself a cool down period.

Leave it a few weeks, see if it goes off market...Unless you are on the verge of living out of your car,

Do your research because there's always another place at a better price.

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If a reasonably priced similar place in a similar location can usually goes for that price in 2-3 days - why has this one been sitting doing nothing for 6 months ? I know you say it needs work and all that. Still seems strange though.

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On the market for 6 months? I would stick at 145k.

Edit - removed '£'.

Edited by MattW

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I wouldn't worry about an extra 500, it's a trivial % of the price.

The price you need to think about is 145 or 148, and again that is just a 2% increase, which is small if you want the property and will keep it.

Edited by LiveinHope

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This is the point at which you tell the EA that your young niece was just diagnosed with a rare disease, and your family is pulling all their resources together to pay for a very expensive experimental treatment so you'll only be able to offer 142k. Here, do you want to see a picture of her?

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This is the point at which you tell the EA that your young niece was just diagnosed with a rare disease, and your family is pulling all their resources together to pay for a very expensive experimental treatment so you'll only be able to offer 142k. Here, do you want to see a picture of her?

Never ever up an offer with an estate agent. It only encourages them.

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I fell for this when I was younger - the mystery buyer from nowhere. Cost me 5 grand. Grr.

I had an agent try this when we were buying a house in Oz. My response was 'lucky for the seller. I wish your buyer luck.' and cut off all contact with that agent.

They called me a few days later saying the deal had 'fallen through'. By then we had offered on another house. Hard luck you twaooack.

Houses/Flats are NOT unique unless they have something like a view of Big Ben. Do not fall for their lies.

Edited by wherebee

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All guessing but ...


I suspect he's regretting not taking 147.5K from you now. If they could get more money from another party they'd do it. I suspect you're the better option. Maybe some facesaving going on.


Is there anything further you can ask for? Something that would cost the other party around 500?


So you could go back with I'll pay 148K if you do X and/or include Y?

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I had all of that - "Oh, it sold this morning, they may consider another offer but it'll have to be at least the asking price." A phone call a few days later "The buyer's pulled out". What a coincidence... Such outright dishonesty belongs in banana republics (well, I suppose there may be the odd one case in a thousand where it's actually true).

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I fell for this when I was younger - the mystery buyer from nowhere. Cost me 5 grand. Grr.

I had an agent try this when we were buying a house in Oz. My response was 'lucky for the seller. I wish your buyer luck.' and cut off all contact with that agent.

They called me a few days later saying the deal had 'fallen through'. By then we had offered on another house. Hard luck you twaooack.

Houses/Flats are NOT unique unless they have something like a view of Big Ben. Do not fall for their lies.

A view of BIg Ben would be remarkeable in Australia, and a fine selling point! :blink:

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If a reasonably priced similar place in a similar location can usually goes for that price in 2-3 days - why has this one been sitting doing nothing for 6 months ? I know you say it needs work and all that. Still seems strange though.

From visiting it I reckon:

All floors need to be refinished

All walls need replastering

Bathroom needs renovating completely

That's probably 15k extra and the hassle of organising it all.

Also if any buyer reads the owners association documents, the building will be replacing the windows and renovating the roof and facade in the next 2-3 years. WHich unless they sell the attic to convert to an apartment will probably add 100k of common debt split between the 15 owners.

The apartment gives off the aura of neglect. It is in my opinion the best location, the whole area in front is being renovated with new builds and its 1minute walk to the train station and the main bus stop where EVERY bus goes through in the whole of the north

In this price range the market is either parents buying for their kids while at university (and using the student loan to pay the rent for the 'mortgage'), or young professionals buying as a stop gap until they move on.

Neither of which really want to spend time doing the apartment up.

Property (particularly apartments) is going up here. Two years ago everything was probably 15-20% cheaper.

I don't know why anybody wouldn't want to live in small northern european towns.

I decided to just wait a few days, if it gets old it gets sold.

There are larger apartments 3km outside the city centre for similar price. Seeing as I cycle absolutely everywhere, I don't really give a shit about that 3km. It's pure vanity and worrying if I have to sell it quickly that leads me to want one in the centre.

Edited by Marshmellow

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