Estate agent wants to 'paint a picture' of us to the vendors - what should we say?!

[ThePartyArtist]

We're first time cash buyers and just put in an offer on a house. It's the first time we've done this. The estate agent told my DH on the phone he thought it'd be rejected (apparently it's lower than another one that's been rejected) and asked for info to paint a picture of us to the vendors. Now I'm wondering how we play our cards right with this one! The estate agent asked if I work at X (I've never told him this - he's clearly googled me) and my DH confirmed this and also said where he works. The estate agent asked if we're looking to buy into the area for schools (it's a very desireable area in this way) and DH just said we're looking to buy a house, which hopefully implies to the estate agent we are not property developers, but doesn't give much else away.

I've no idea the best strategy when 'painting a picture' of us to the vendors. If we say school catchment is a motivation I think he'll use this to try to push us up. We've asked the estate agent about school catchment relating to other properties we viewed so if he remembers he'll know this is a motivation. I'm inclined to think we can't second guess the vendors' values so giving too much personal info away could just be used against us. Or maybe as they're a family we should be playing that card. I'm just not sure!

We've told estate agent we are cash buyers, first time, and offer complete flexibility whether the vendors want a quick move or to bide their time till they find somewhere to go. Any other tips for getting them / the estate agent on side?

[Moonatic]

The EA is really not interested in getting the best price. Really, an xtra few grand on the selling price makes next to no difference to the EA. They just want to make the sale.

The buyers probably just want to know that you are indeed in the position you say you are (cash buyer etc) and that you are keen to proceed and t you aren't going to suddenly pull out of the sale because you are not too sure about the house after all.

With that in mind, reiterate your enviable position and say that you are very keen to proceed (assuming you are). If you are able and willing to fit in with the vendor's plans (e.g. quick sale because they have already found somewhere or willing to wait whilst they find a place to move to), say so.

The vendors may also like to be reassured that you plan to live in the house and start a family (as they did) rather than develop it for a profit and move on.

[Puppymouse]

If it helps we've just had our offer accepted on a new house. It wasn't a cheeky low offer but it did come with the proviso that nobody else could view (we were only ones to see it before it came on market) and it wouldn't go on Rightmove or be marketed. The vendors took a risk.

My husband laughed at me because I was emotional looking round and didn't try to hide it. He seemed to think we should be playing it cool. But when we heard back from the agent my reaction to the house, the fact that I had a major hobby in common with the owner (and the fact we had sold to a first time buyer) were mentioned and all added up for a quick yes to our offer with its demands.

I think if you get lots of offers on a house you sometimes just want to find a connection with a buyer, so it helps you decide which offer to accept, come to terms with them buying your house, and maybe increase your trust they will see the process through?

[Luckystar1]

For some sellers, this 'story' is very important. A house that had been a beloved family home is difficult to sell and often it's not solely about figures.

Tell the story, I don't see the problem really. We lost out on a house having offered the same as the eventual purchasers as my DH was being very nonchalant like you and the other buyers had a lovely story (about school catchment as it happens!)

We definitely hammed it up for other houses I can tell you!!

The first ever offer we had accepted was on a house that was a probate sale. We met the son of the owner and were nice to him, he picked us over a developer who offered more.

People buy people.

[WhoTheFuckIsSimon]

If it's only been on the market a week you need to offer the price of the offers over x".

They've had three offers in a week and if you're not quick there may be a bidding war.

Doesn't matter that it's the most expensive in the street. Those are historic prices and most areas prices are still rising.

[tittysprinkles]

We just bought recently and had to do offers over the asking price as we were buying in a very popular area for schools.

Our vendors had 2 daughters like us, so we put in the offer email that we loved the house and that we thought it would be the perfect place to bring up our children. The vendor did actually see our baby on the day we viewed and could see how enthusiastic we were about it.

We were obviously in a strong position as FTB but I do think the personal aspect helped us to get the house, and we are subsequently aware of other people who made similar offers that weren't accepted.

[OrangeNoodle]

If you offer the right price, the vendors won't care who you are (within reason).

It sounds like a competitive market for the type of house / this street / local area.

Having sold a few houses in the past, I'd be wanting AT LEAST the minimum price specified in these circumstances. You are cash buyers, you want the house, others clearly do too. Ask the agent to be very honest with you about the price they want to secure the offer and get it off the market.

Job done.

[DustOffYourHighestHopes]

Agree - it's not complicated. Don't over-share, but just say 'we're a young [professional] couple looking for our first home, we love the property, we are cash buyers and are flexible on moving dates.

They won't want to sell to someone who seems 'meh' about the property because then the buyers might find somewhere better and pull out before exchange.

[Koala2]

OP I would just play your cards and then move on if you don't get it. The EA is being a bit weird asking for this info but it's free to provide - if you really want the house get your story straight, up your offer and then look elsewhere if it's rejected. I hope you find something suitable soon.

[BeaufortBelle]

All I'm interested in when I sell a house is that the people who offer are who they say they are and have the money to pay. As the agent takes a large cut I expect them to have done decent due diligence and to be able to give me a fairly accurate assessment.

A house is worth what someone is willing to pay for it. It is up to the vendors whether they wish to sell it for that price. Purchasers often forget that vendors don't have to sell to them and if they get too difficult or do disingenuous things over price the vendors might decide not to sell to them. DH and I did that last time after a big reduction "oh well, presumably they don't really want it, put it back on the market at the full asking price please. If they want it they can bid again.". Oh how they came running back - soured the deal though.

[Bearbehind]

It's not that you've posted more than once- it's the fact you keep saying that things are going to make the EA think you can pay more for the house; it's such a bizarre viewpoint. The house will have been priced based on the catchment area etc already, it won't be expected that you'd suddenly pay way over the odds for this.

I agree you don't want to go overboard about it but you can't play it totally cool if you actually want to buy somewhere.

I have a mental image of your conversations with the EA-

EA- so, how did the viewing go, did you like it?
OP- Maybe
EA- well, what attracts you to this particular house/ area- is it the schools?
OP- no comment (even though we don't have children)
EA- ok, are you thinking of making an offer?
OP- possibly
EA- what is your position? Do you have somewhere to sell? Do you need a mortgage?
OP- that's for me to know

House buying is a bit of a game but there's no need to play your cards this close to your chest.

Apart from anything else, there's been 4 offers in a week; you don't even have the upper hand with negotiations with the vendor; you're not the only people interested.

You need to be clearer with what you want and can offer before someone else beats you to it.

[ThePartyArtist]

Thanks all.
@Bearbehind - sorry if you are unhappy I have posted more than once about the house search... we are doing all this for the first time, and it's on my mind so these message boards seemed like a reasonable place to turn to.

[Whathaveilost]

penny but some very nice people may move in, hate it and move out in less than a year!
Memories are in your head and heart?

[PennyHasNoSurname]

Id want to know a bit about who we sell too, also. Probably wrong of me, but this the first home dh and I have owned (separately or together), its the home I was proped to in, the home I got ready on the morning of my wedding in, the place I brought both of my newborn children home to, and above all, the place that we spent months de-wpodchipping and sanding the origional floors and rewiring.

Its every square inch is filled with memories.and a sentimental part of me would want to take an offer from a young couple/new family over a developer or BTLer.

Daft, and Id probably (definetly!!) rethink if I only got BTLers offer but I can understand that a little personal info alongside an offer would help us decide.

[bilbodog]

When we sold our last house we had two parties offering and although my heart wanted to sell to the young family we took the other slightly lower offer from a lady who was in rented, cash buyer but who had enthused about the house. The younger couple had looked round and hardly made any comments about the house so we felt that the one who had been more enthusiastic was the better bet in case anything untoward came up on the survey as she was desperately keen on our type of house and would have been less likely to want to renegotiate price. Worked for us.

[DelphiniumBlue]

If they've said " offers over xx' and you've offered less than that, they'd have to be desperate to accept your offer in the first week! What were you thinking?
If you want the house, you'll need to offer at least the stated minimum, and probably more. If it hasn't sold 2 or 3 months down the line, they might accept an offer below their stated minimum, but not at this point.
And they obviously know if their house is in catchment for a good school, were you imagining you might sneak that past them?
Your selling point is that you are a nice young couple looking for a long term home, although tbh, if they are selling with young children, they're probably not that bothered who you are. Have you asked why they are moving?

[bigsnugglebunny]

Tell them a load of random bollocks - star signs, favourite band as a teenager, send detailed descriptions of any scars you have and how you got them (chicken pox 1987 anyone?)

[Bearbehind]

OP, this is the second thread you've started where you keep mentioning factors that you think will make an EA try and push the price up. At the end of the day its not their decision what the house is sold for, it's the vendors.

The fact is you want to buy this house- stop trying to sound too aloof about it.

You don't have to gush over it but equally you need to present yourselves as a good option for the vendors.

Read some of the longer/ ongoing threads on here- people don't always go with the highest bidders/ cash buyers etc.

For a lot of people it's important they are selling to someone who they feel will love the house as much as they did. If you are very non- committal about it then it is very likely to go against you.

Likewise, if you keep making offers you know are too low then you won't be taken seriously either- decide what the house is worth to you- make a full and final offer and leave it with the vendor to decide.

[StepAwayFromTheThesaurus]

The offers over price looks like it's the absolute minimum they're willing to accept at this point. It's only been on the market for a week and they've had 4 offers, so they're unlikely to go under their specified price - and are possibly expecting higher counter offers to come in.

If you really want the house and you have the money, is it worth quibbling over £5k?

[Ginslinger]

it depends on how much you want the house and if you are in for the long haul. No mortgage means you don't need to worry about negative equity and if there's a price crash then all prices crash. If it's what you want and you can afford it then offer £100 above the price

[ThePartyArtist]

Ok slight update - our offer was rejected, as expected. It's advertised as 'offers over X-amount' and we offered 2% under that amount. Estate agent tells us they are interested in us as buyers and DH has said we'll talk about it. So the big question now is - how high do we go?! If we went to the 'offers over' amount it'd be £5k over the most expensive sold on the street, but cheaper than comparable properties on neighbouring streets. Do we go a little bit higher at this stage, or straight to our final amount? There are 3 other offers so far, all rejected. It's been on the market for a week.

[Naoko]

You don't need to say more but it might help! It depends on the vendors - when my granddad moved into a home he sold his house to a young couple who obviously adored the place even though someone else offered him more money. He was really struggling with the idea of moving into a care home and the thought of giving some young people a leg up made it easier for him to accept and let go of the house.

[Cel982]

This sounds like it's your offer versus a slightly higher offer from a developer. Personally I would push the family aspect - you're looking to create a home for your future family. I wouldn't be so afraid of the catchment area issue - the EA can try to push you up if he wants to, he doesn't need a specific reason to do that and you're under no obligation to respond. Decide what your ceiling is and stick to it - if you don't think the catchment area is worth paying over the odds for, then don't.
You're cash buyers looking for a family home to live in - that's pretty attractive from the POV of most vendors.

[Whathaveilost]

This sounds like game playing!!

I'm I the only one that feels this is ridiculous?
Can you tell me what I am missing, what does it matter to the vendor what you are like?

I really couldn't be arsed with this and would carry on looking.

[wowfudge]

I am really not bothered by all this other stuff: you like it, you want it and you can afford it. Tell them you like the house and it works for you, it's fairly non-committal and vaguely flattering to the vendors. The EA wants to skirt round you offering less than they've asked for.

[MovingOnUpMovingOnOut]

Sorry for typos. I'm not illiterate, my phone just hates me.