Could this be an estate agency game?

[littlecrystal]

I am selling my house and looking to buy for a new one.

I am looking at very defined area where houses are exactly the same as compared with each other and the regualr asking price is 235k. They sell between 220k ? 240k, depending on their condition, with majority around asking price.

I gradually came up with the offer of 225k (2 previous lower were refused) for one of them considering the house as a doer-upper (no conventional heating system, kitchen not complete, needs redecorating). My offer was refused. The agency bragged about that these houses always go for 230k+ (not true) and the vendor has started looking for houses to move to, but no she is not accepting my offer. If I ofer +2k she is likely to accept.

I declined on the principle that I can buy a done up house for 235k in the same area, so I feel that my offer is reasonable. The agency said ?well you think about it?. My question is why the vendor has started looking for houses if she is not accepting? As far as I am concerned the house has not got any other offers so far. Is there any chance that this is the agency playing a game knowing that I increased my offer twice?

+2k seems a minor amount but in any case I hate to be played about.

it's not a game, it's a negotiation and they are trying to get the best deal for their client, who is the vendor and not you.

Yes they are trying their luck. Hold your nerve and keep looking at other houses. Try to look at some listed with that agent if poss. We held our nerve with someone who was refusing to shift below asking price. A month later they caved .

Angryfeet lucky you. I will be viewing other houses, but unfortunately none of them are with the same agency. Everyone says that the price is what the buyer is ready to pay, but in my occasion this is the vendor holding on what they want. My first offer (8% below asking price) was blankly refused. With my second offer the agency called my agency to verify if I am under offer. The third offer, the vendor has now started looking for houses, but please offer more.
I am not sure if I can wait too long (my buyer is waiting) but I?d rather scrap my budget and pay asking price for a house that I don?t need to do up.

I wish the agency reads Mumsnet!!

I think I would tell them that 225 is your final offer (due to the work that needs doing) and can they confirm that the offer is declined/accepted this week as you have lined up viewings for next week. Then wait.

Yep. You have already showed you are movable on your offer. If this is your final offer you need to state it clearly and show no evidence of a wobble

They might have other viewings lined up, they might get someone who offers the same but isn't in a chain. The agent will know that you're also in a chain (have a buyer already) that you'll be reluctant to lose. Its all about willingness to move etc. Estate agents will play the game, of course they will.

Having said that, its not just a question of who holds their nerve - its also about looking at it from a cost / benefit point of view. Yes, you might begrudge paying an extra £2k, but will it cost you more than that if you lose the goodwill of the vendors potentially (lots of posts on here about vendors ripping everything out of property etc), or if you don't proceed and have to look for something else / lose buyer etc.