Do EA fib about offers on houses?(17 Posts)
We viewed a house today that is about to come on the market. It is a nice home & later that afternoon we popped into the EA to get a brochure as we wanted to know what the rooms sizes were - would have preferred to have the brochure whilst viewing the house but it was not ready. The EA told us 5 clients (including us) have viewed the house today & one has already made an offer, which the vendor has rejected. We asked what the offer was & she told us & it is £20k below the asking price. She went on to say that another client is thinking about making an offer too. I turned to DH & said that there is no way we are getting into a bidding war & that we have a lot to think about re the room measurements b/c although the rooms felt OK at the viewing it is a different matter when toys are scattered all over the place.
Having thought about the house more since we put DS to bed & discussing our circumstances & ensuring we can afford it, we both really like it but want to go back for a 2nd viewing, hopefully on Tuesday. In this market I would suspect that even if good offers were made, the vendors would wait to see how our 2nd viewing goes & if we make an offer. The EA did add that if we wanted to make an offer she would get everyone to put in their final offers so that we do not end up in a bidding war. However, DH is feeling sceptical that an offer has actually been made (& rejected) & is wondering if the EA is stringing us along so that we think other people are interested. When she told us this there were 2 colleagues in the room so I think it is unlikely she would spin us along in frotn of them. What do you think?
Also, when putting in yor highest offers do you think people just offer the full asking price to secure the house? We are in a great position as our buyers are in rented but apparently the other 2 so called interested parties are in good positions too.
I think you need to decide a ceiling price, and stick to it. At the end of the day 'what is it worth to you (and what can you afford)'?
I personally would not be paying top whack for anything in the current market - buy in haste, repent at leisure - but maybe that's just dh and me....
Good luck with your negotiations
Go back for the second viewing and take it from there. If it really is the house for you, put in an offer giving your circumstances.
I think whether or not the agent is - errr, embellishing the truth if you like - is neither here nor there.
Set the price you are happy to pay for the house regardless of others.
It seems a bit strange that there have been 5 viewings today on a house that is 'about' to come on the market and 1 poss 2 offers. Not saying the agent is telling porkies but this seems very unusual in the current climate.
I agree with hullygully. Never trust an EA on this, but stick to your guns about what you can really afford.
We could afford the asking price but in this market we would be reluctant to do so. However, where we live, you pay a premium for 4+ beds as they seldom come to market & a lot fo people are waiting to pounce on them. Seems strange to us that they have had an offer from a client who has only had the one viewing, would have thought they would have returned for another look first. At least when we go for the 2nd viewing we can try & get on friendly terms with the vendors (would want to go for an ealry evening viewing so most like the vendors will show us round) & can ask if they have had any offers so far.
On our last viewing of our new home-to-be, the EA told us that someone had put an offer in, hubby said "that's ok, we are still looking at other houses" (which was a fib!!)
other party disappeared ("unable to get a mortgage") once we started to make offers in the region the buyer would accept and they found out we were proceedable
We went to view the house we're currently (fingers crossed) buying just the once.
It had started being marketed on the Tuesday, we went to see it on the Wednesday and when we arrived the estate agent was trying to chivvy another couple out. I overheard (ok desperately eavesdropped!) the other couple - it was their second viewing and they were going to put in an asking price offer as soon as they got home.
We put in a slightly over asking price offer before we'd even left the viewing and fingers crossed we exchange on Tuesday.
I know there'll be a stream of people saying we were mad but we've been actively looking for 10 months and there just weren't the houses coming onto the Market of the right size in the area.
I suspect potential sellers were scared off putting their house on the Market by the newspaper headlines not realizing that, in that area, for that size house, anything half decent is flying off the shelf. We lost 5 other houses we'd put offers in on in the last 10 months.
What I'm trying to say is, you really need to get to know the very specific market (area/size/price) you are looking in and decide what the state of THAT market is. For us it was most definitely not a buyers' market.
A very long winded way of saying, they might not be lying and, I agree with Owls!
Yes, they do. Yes, she (probably) is. It's the biggest purchase of your life - don't let yourself be browbeaten into making a snap decision.
Koppar - I would be extremely about another couple talking about what offer they were prepared to make as you arrived but do agree that different property micro-markets perform in different ways.
Also do your homework about situation of vendors. Are they in upward chain? If you have approved mortgage, or buyer for yours, and can move quickly state this at time of offer. Lots of people looking at the moment but few have offers or mortgages sorted so can hold up a chain indefinitely. Owners may be prepared to accept slightly lower offer from lower risk party.
We viewed the house we live in only once.
Don't be pushed by what an estate agent has told you although to be fair round here there aren't a lot of houses coming onto the market so I can see why a property may well have 5 viewings in one day.
My own house was valued when I was in the middle of having my en-suite fitted. Although the room was actually empty and was about to be plastered I had 2 estate agents wanting my house to be signed to them there and then!
They judged it on the rest of the property and what I told them would be fitted in the en-suite.
Go back for your second viewing and see how it feels then, always take a tape measure and a compass on any viewing. That way you can measure whether your sofa would fit etc and see which direction the rooms face.
Ugh I have a horrid feeling we will not get it I just know that where I live the properties like this one go soooo quickly & it is hard for me not to feel emotional as we have been looking for a house for ages. DH & I feel we could not pay the full askign price but may be £10k less. Thanks for all the replies
I know lala, I would not have believed it either - to be fair, they couldn't see me and presumably assumed i'd followed immediately behind the estate agent into the house.
Not quite as bizarre as the situation my parents were in when selling their previous house - they'd gone to their local pub to get out of the way whilst the agent did a viewing. A little while later a couple came in and started discussing the house they'd just seen and their offer tactics (offer x amount but be prepared to go up to y if pressed). My parents were initially convinced the agent had employed actors cus nobody could be so silly as to have that discussion in the local pub - but no, that couple did buy the house (for y amount!).
Just goes to show you never know who's listening and you shouldn't discuss finances in pubs lol
When we were selling our house we had a couple who wanted to come back for a 2nd viewing & they also intended having a 1st viewing on another property up the road. I was in the park telling my friends we had a 2nd viewing but they were also seeing another house afterwards & I looked around & saw this woman listening...it suddenly dawned on me she was the owner of the other house!! You have to be soooooo careful!!
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