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Original poster

Pushy EA (first time buyer)

99 replies

lockdownlucylu · 19/05/2020 11:36

Hi all, would be great to have some advice on this.

Looking to buy a property in a big UK city as a FTB. Property originally priced at £Xk, I offered over but was declined in favour of someone else who offered slightly more. Now their offer shows no sign of materialising so I am next down the list - have deposit of c.80% compared to theirs of 10% which I am hoping will be helpful atm.

Have a viewing booked this week but EA playing hardball and saying they need an idea of my offer before the viewing. Am I ok to say not more than the original offer & not give figures yet - and that I will be in a better place to give these after viewing? I imagine they want to lock me in at my last offer which was over asking price which I won't be doing in this current climate...

Can anyone advise? Thanks!

OP posts:
Smallgoon · 19/05/2020 11:48

they absolutely don't need to know what your offer is. Your offer is dependant on the viewing! Tell them politely that you cannot confirm this as you have a few things you need clarity on, which can only be clarified following the viewing. The EA needs you more than you need them so don't let them bully you.

Original poster
lockdownlucylu · 19/05/2020 12:15

Thanks!

They have been quite pushy though - suggesting that the viewing could be cancelled if our offer is too low, so I feel like we need to say something...

OP posts:
Original poster
lockdownlucylu · 19/05/2020 12:16

Just to clarify - have already seen the property once before so this is second time (with family members). Does it suffice to say that I wont be going over my last offer but will need to wait until the viewing to give actual numbers?

Sorry! Probs overthinking

OP posts:
Heronwatcher · 19/05/2020 12:38

Nope they’re likely to be bluffing. I’d say no viewing, no revised offer. You are not tied into anything legally until exchange of contracts. Also if they are trying this on now, be very wary of them if you do proceed with the house.

bravotango · 19/05/2020 12:39

Stand firm - you will confirm your final offer after the viewing. They have to communicate all offers to the vendors by law anyway

Viviennemary · 19/05/2020 12:42

That is an absolute cheek from the estate agents. No you dont have to make an offer before a second viewing. I agree the EA is bluffing. Don't fall for it.

caramelbun · 19/05/2020 13:06

The EA is being dishonest. You do not have to make an offer before viewing it again. They know you’re serious about the property so they should be letting you see it again.

I would be worried about dealing with this EA if you progress with this house.

ilikepurple · 19/05/2020 13:10

I'd say you aren't in a position to make an offer until you've viewed again and as you're viewing other properties (even if you're not) it wouldn't be fair to the seller to give them false hope unless you're certain you want to buy it.

Original poster
lockdownlucylu · 19/05/2020 14:19

Very helpful advice here, thank you! I am in no rush to move and think I'm a good candidate - have already told them I can move at their pace, no chain, large deposit etc... So not appreciating the hard sell...

I guess next question would be - if I offer - what do I offer?

Property was put on market for 400 late last year. Taken off and put on again for 430. I made an offer for asking price but apparently two others got in there for 440, pre lockdown - although now looks like the offers were over-inflated hence they have come back to me. They also have 10% deposits so it's unclear if they will be ok with mortgages and are in a chain...

What do I offer in light of current economic situ?

OP posts:
Talija11 · 19/05/2020 14:36

I would not offer above 400k. You have to consider its location though whether it is desirable.

Viviennemary · 19/05/2020 14:37

I think I would go back and check with BS if your mortgage is still on the same terms as before. I would make an offer of at least 5% below the £400k subject to survey and valuation. Nobody is going to pay £440k IMHO. I might offer 400K if I was really desperate for that particular house and thought it was a good buy. I suppose nobody can be sure exactly what is going to happen to house prices over thd next year or so. But depends on how likely it is that somebody else really wants the house and is prepared to pay more and then you might think I wish I'd offered more. It's a nightmare.

Elsiebear90 · 19/05/2020 14:39

The estate agent is flat out lying to you, they do not need nor is it standard practice to “get an idea” or even discuss you making an offer before they allow a second viewing. My honest suggestion would be to avoid this property, as no doubt the estate agent would be an absolute nightmare throughout the buying process.

We had a really rough time with the estate agents selling the house we purchased as first time buyers, they were rude and extremely pushy, the entire process from having the offer accepted to us completing took 12 weeks (which is about standard), but they constantly made us feel like we were taking an exceptionally long time and causing unnecessary delays, just piling pressure on all the time and threatening to pull out (the house had been on the market for over a year with only one other offer, owners had moved into care homes, so no issue of chain) and it really ruined what should have been a very exciting time for us. I love the house, but I feel like they tried to take advantage of us being first time buyers giving us all kinds of crappy advice like “you don’t need a survey, just trust what the owner says” and “you should give your notice to your landlord now so we can exchange contracts and complete in four weeks on the same day, there’s no risk as you have our agreement on the date”, there was actually a delay in exchanging contracts of five days because their solicitor hadn’t got all the documents, so if we took their advice we’d have been homeless as we would have had to move out and have nowhere to go.

Original poster
lockdownlucylu · 19/05/2020 14:55

Thanks all - there arent many properties like that/to that spec that do come onto the market, so I did think it was a good buy.

However now starting to feel very stupid and naive for being so keen and allowing myself to feel persuaded by their spiel...

OP posts:
Original poster
lockdownlucylu · 19/05/2020 14:57

Second thing is - unsure if this is normal - I am the one who has to chase them e.g. to firm up viewing etc. They don't really call back but are very receptive when I call.

I am interested in the house but I guess if the shenanigans continue, I will think carefully about whether to proceed?

I am concerned that if I massely drop my offer from the last offer I made (pre lockdown) they will think am trying it on - but I think in light of the current circumstances, it would be market price??

OP posts:
Doje · 19/05/2020 15:15

Absolutely offer less. The market is much less stable than it was pre lockdown.

I'd go with initial offer of £375k and go no higher than £385k.

I'd also ask them why the other offers fell through. You probably won't get an honest answer, but it will let the EA know you are cautious about proceeding.

You are in an amazing position. The EA are aware of that, and trying it on. We were recently selling our property, and it made me realise how amazing a ready to proceed buyer really is. And very few people prepared to buy a £400k house will be in the situation you are.

Totlay agree with the other PP's that this EA will be a nightmare all the way through the process. Proceed with caution!

BernadetteRostankowskiWolowitz · 19/05/2020 15:16

Fuck that.

I'd offer the 80% you have, as a cash buyer.

They had their chance to accept your over offer.

Grumpylockeddownwoman · 19/05/2020 15:21

While it’s pushy by the EA - perhaps the sellers don’t want to do too many viewings atm for obvious reasons.m so want to get an idea before you come along.

That said they’d be in the same boat if it was a first viewing with someone else anyways

MarieG10 · 19/05/2020 15:25

A buyer like you in the current market will be to die for. Another thread I've just seen is their offer was refused and now come back and accepted 10% lower

DelphiniumBlue · 19/05/2020 15:33

Never take legal advice from an estate agent, that's not their job.
Their job is to find a buyer for the seller, and and it's in their interest to have a sale proceed as quickly as possible, at a price that is as high as possible. But they would rather have the sale proceed at a lower price, through them, than not at all. The seller might have a slightly different position, in that they will probably have a bottom limit beneath which they won't sell at all.
Even if you end up paying 100% cash, do not be persuaded not to have a survey.
Find out why they are selling, and why the previous 2 buyers fell through ( valuation probably). You could approach the seller direct to find these things out.

WombatChocolate · 19/05/2020 16:11

Be polite and firm.

You cannot and will not offer until you have seen the property and reminded yourself about it and seen if it still fits your requirements.

I would mention again that you have a large sum which might effectively make you a cash buyer or only needing a tiny mortgage.

Look and decide if you still want it.

Think about your offer. If you have 80% in cash, given falling prices and the fact people will be very keen to sell, you might be able to offer as a cash buyer and emphasise the speed with which you can complete.

Ignore all their cobblers about other interested parties nada nada.

Be very aware that prices are falling and you do t want to be effectively buying at the top of the market. What you offered before and what they accepted before are irrelevant. It is now that matters and you should not be pushed to offer more because prices were higher a few weeks ago. Think what prices will be in 3/4 months when you complete or even further on.

TobyHouseMan · 19/05/2020 16:34

You a rare beast at the moment - they should send a limo around to take you to viewings.

Tell the agent you will consider making an offer once you've had a viewing. Of course he could tell you the minimum they would accept before the viewing to save wasting anyones time - but then of course he doing what he's expecting you to do - give his hand away, which he won't do!

pilates · 19/05/2020 16:42

You are in a very good position as a buyer and don’t forget that. Don’t let them bully you! They need you more than you need them. Just be firm and say you will give your offer after the viewing.

Original poster
lockdownlucylu · 19/05/2020 16:53

Thanks!

He was pushy AF just now - chased him and said I had some other viewings over next few weeks and wouldn't be in a position to consider offering until after tomorrow's viewing. He then said they were looking for a best and final offer by tonight?! Would be highly surprised if they have any other offers on the table at present...

I asked about why it had fallen through twice before, he told me...

He's now going back to the vendors to check they are still willing to show me the property (?!) given they haven't received my best and final offer... Major hardball. Called his bluff and said it was fine but could he just let me know by EOD

OP posts:
BernadetteRostankowskiWolowitz · 19/05/2020 16:54

God what a twat! I'd be furious if he was my EA.

BernadetteRostankowskiWolowitz · 19/05/2020 16:56

There is a strong possibility he is either

  1. Assuming he can take advantage of the fact you are a "naive ftb"
Or
  1. He has promised the sellers that he has someone waiting in the wings at a similar price
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