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Exactly what I was about to say when I first saw your post Gregg. It's an all time favourite 'con' of some estate agents to say they've got another offer on the property, when they have nothing of the sort!! As has been said, and you've said, you're in a strong position and should stick to your guns.Originally Posted by VauxVeteran
Gregg, become a PITA to them, lower your bid if they say someone else is interested, the way to do this is to opt out when they tell you, let the phone ring and make your own lies up, ooh well since then I've been and seen another and it's cheaper, I still like the house but on reflection I don't wanna pay that much now, offer even lower and see how bad they wanna sell,if I was buying now, I'd offer 20% less than askings and be brought up to 10 - 15 % less than the askings, you cannot lose, you have nothing to sell, and you are serious, there's nothing worse than some pr1ck who bids on a house when theirs isn't sold, your money is concrete the others is hypothetical.
Lets keep in mind here in these comments that the estate agent is employed to work for the seller, not the buyer. So at all times his optimum goal is to achieve the best price possible for the property, which is what you pay them for. So whilst that's not always fun as a buyer, when you put your property on the market you'd hope they will be doing all they can to get you as much money as possible.
I'm glad this situation doesn't apply in Scotland!
The buyer places only one offer and it is up to the seller to decide when the sale ends
The seller may then only accept one or none of the offers
Another development this year is the one property = one survey
As a seller I hated having to arrange viewings and then arrange for the survey a few days later, at least this way the buyer can view the survey report during the viewing, although I am quite sure this cost can be passed on to the buyer!
I believe we are now seeing a shift in the market, from a sellers market to a buyers market
When I am purchasing property I tend to take the survey valuation and deduct between 5% and 10%
If I am not successful then I move on
I also obtain details of other house sales over the last two years in the same street
Well i havent heard anything since monday now and my offer went in on the friday.
The house is now in the paper so im thinking of ringing up and seeing if my offer has gone through and also mention ive noticed the house in the paper.
Thought of saying that i may retract my offer too being as i am not being kept imformed of what going on and i can start to look at other places then?
Decent idea OR dos that make me sound el desperado
That means the seller is thinking about it, a no is a no and they would've told you by now, what the seller is doing is keeping you as an option, let it go until next monday, then ring the agents and ask how things are, if they say that the offer isn't good enough, walk away from it and look at others, then you may find they come back to you in future.
AAAAAGh ! 125k mortgage .Ok
So been for the mortgage could lend 125k but opted to have 100k to keep monthly payments reasonable and well within what i earn each month.
Payed off my 35k mortgage 5 years ago,but did it in style,mother in law died and left my mrs a good tidy some [we payed £6k in inhieritance tax]
told my borrower I was going to pay off the mortgage was given a completion date & time so I took £35k from one bank and walked accross the road to the other and handed over the envolope with 35k in it even though it was sealed & stamped by the first bank it still had to be counted! it took 4 staff members plus the manager to do it,best of all it was a friday lunch time and the queue was right out into the high street,the bank manager always remembers my name now when I go in there!!.
Sorry if I hijacked thread but i thought it a story worth telling
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