Are we being played by the estate agent?

[offersover]

Name changed for this post - small world and all that.

Basically we're at a point, after 2 rejected offers, of sitting at 40k below asking - our ceiling as this is the exact price the agent had said back in August might be accepted. It is between 5 - 6 % below the asking price.

The house has been on the market 11 months and no other offers and we have nothing to sell and have cash & mortgage ready to go.

Yesterday my solicitor was told the homeowners had 'changed their mind' and were now looking to get much closer to asking (darn my enthusiasm!) and magically there is another viewer waiting to see the house who is in a similar position to ourselves.

What do you think, is the estate agent playing games with us in
i) lying when she said they'd take 5-6% below knowing they wouldn't, and
ii) saying there is another purchaser in the wings?

Any advice?

Impossible to say for sure, but I'd guess so on (ii) at least, although she may just have misjudged the owners' attitude on (i). I think it's time to walk away with a relatively nonchalant "oh well, sorry to hear that" then hold your nerve and see if they come crawling back.

Is the estate agent lying/playing games? Is the Pope catholic?

You have nothing to lose by saying "That is our best and final offer" and waiting to see if this other couple materialise. There will be other houses should the EA happen to be telling the truth which he wont be

What Pachachuti said. Hold your nerve and wait. If you really are at your ceiling, there's nothing you can do anyway.

Thanks for that, yes we are ready to walk, I'm seeing another house on Thursday so I'll sit tight until then.

We're also sure they've bought somewhere else (they are downsizing) in the same location.

My parents but a very cheeky offer in on a house after finding out the sellers had a bridging loan on a new build. If the EA was to be beleived, there was lots and lots of interest. They said no problem, keep.our number and ring if you still want to sell to use after all these viewings. Three days later their offer was accepted. It was a good 20% under the advertised price.

Sounds like a pack of porkys to me, I've tell them that that is your final offer, end of. You'll then find out the truth shortly after :)

See I think I'd be quite tempted to play them at their own game - get someone to call them up to arrange a "viewing" get them to ask if there's been much interest, whether the vendors will consider offers and see if they get spun the same lies or different ones... but yes just give them your best and final offer - and if you can mention that you've got x number of other houses to view, much cheaper

Have you already paid out money for a survey? If you've put no money into this yet, then I'd walk, and tell the estate agent it's because you do not trust the sellers to sell you the house. I'd rather walk now than when they refuse to exchange after much time and money spent.

Sellers can shoot themselves in the foot with this crap.

Of course they're playing games voice of experience having just moved house and been played in various ways

Just say, 'Oh well, that's our final offer.'

And wait till the owners suddenly have another change of heart.

This has just happened to us and its very frustrating. We have left it that it's our best and final offer. In the meantime the property has very quickly been put back on the market with a higher asking price! Strange logic. I think vendors are getting over excited already about media talk of an uptick in the market. Good luck.

I think anyone who won't accept an offer of 95% of the asking price (especially on a house of this value) after being on the market for 11 months is playing games, doesn't want to move or very unrealistic

Thanks again. Honestly I really like the house and don't want to lose it for a few thousand so I'm not inclined to say 'best and final offer' just yet. Suspect they'll go to a closing date.

MILdesperandum - I think they do want to move but are seeing ££ signs before their eyes. The next door down sold 3 years ago for 'just over a million' ( was much bigger, larger garden and was in good decorative order) and many house owners in this particular area have the view that they are sitting in million pound houses.

We'll see what happens - my solicitor will call their agent on Thursday.

Definitely give them an expiry date on your offer too. 'Our offer stands for 7 days and then it will be withdrawn'.

Hopefully this prevents then stringing you along for too long because they will worry they will loose you. Also start booking viewings on other properties.