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Original poster

How hard to push back on EA/Seller after them messing around

67 replies

AX35 · 07/11/2023 18:35

Hi,

This weekend, we had several viewings in an area we quite like, and we found a house that would be a bit of a project but okay enough to buy it to get the whole process started (As we have already been looking the entire year).

The house was bought in 2021 for 675k, and it is clear that the owners need to sell ASAP as they seemingly can't pay their mortgage rates after their 2 yr fix expiring. They initially offered it for 800k to reduce it to 700k with increments in the last 8 weeks. The estate agent told us the reason they are selling is that they want to move closer to the school of their kid but also that they are looking to get a house in the 500-600k price range from them.

Side note: We made an offer for another house from the same estate agent a month ago at 800k.

The interest in the house was still quite limited even after all of those reductions there were only three viewings on the weekend.

Now, we put in an offer at 700k to incentivise them to move on and sell, only for the estate agent to come back to us and tell us there is another interested party who offered higher than us and is also not part of a chain. As a reaction, we reduced our offer to 675k as either there is another party interested, in which case we are happy to lose the house, or the estate agent/seller wants to mess with us, in which case we wanted to push back.

The estate agent now came back telling us that the seller would like to accept our offer (no reason given) and to proceed with all the formalities.

Now, the whole thing left me very annoyed at the greed of either EA or the seller, and we are thinking of dropping the price further to 650k or lower. We know that that might push them into negative equity and ultimately lose the house because of it but I just don't want them to get away with their sleazy tactic for that cheap.

What would do in that situation? How much would you reduce it / would you further reduce it at all?

OP posts:
DrySherry · 07/11/2023 18:40

Interesting, and very well played on your part.

I smell seller desperation but, I would be cautious about knocking it down further if you really want that house. If your not worried about loosing it then crack on and teach them a tough lesson ;)

SausageAndEggSandwich · 07/11/2023 18:42

Do you actually want the house or not because playing games in this way won't endear you to the vendor.

If I was them I would dearly love to sell to anyone that wasn't you.

Daffyyellow · 07/11/2023 18:44

Stop mucking them around or walk away. Make an offer that you will follow through on.

HundredMilesAnHour · 07/11/2023 18:45

we put in an offer at 700k to incentivise them to move on and sell

Bullshit. You put the offer in because you thought you could take advantage of them being desperate to sell because they can no longer afford the mortgage. Don't pretend you're "incentivising" them. Just own it. You thought you could get a good deal. And now you're trying to press home your advantage even further. The poor sellers must loathe you.

Reallybadidea · 07/11/2023 18:46

It may very well be the agent playing silly buggers with you or at least encouraging the sellers to do so. Don't punish them for having a shitty agent and being in a difficult financial position.

Twiglets1 · 07/11/2023 18:46

Great story.

Lovethatforyouhun · 07/11/2023 18:47

slow clap

KievLoverTwo · 07/11/2023 18:50

What I would do is not be a dick. You have already been a dick. Stop being a dick.

It doesn't even sound like you really want the house; you are critisising them or their EA for being greedy whilst displaying greed tactics yourself.

Stop messing with people's heads and either move on to a house you do actually want to buy or keep your offer solid.

People losing their homes causes a lot of male suicides, fyi. So I don't really think it's appropriate to make light of people not being able to afford their mortgage.

boomboom109283 · 07/11/2023 18:51

I can’t believe you now want to drop the offer further. That’s awful games on your part.

SpoonyBitchell · 07/11/2023 18:56

You sound like a horrible person.

FiveShelties · 07/11/2023 18:58

That would be a really horrible thing to do.

How do you know they are struggling to pay their mortgage?

Hollyhead · 07/11/2023 19:00

I think your initial tactic was clever and justifiable. However I don’t think you can change your offer again now, and to be honest you’re probably overpaying seeing as the market in most places has dropped 5-10% but if you like the house stick with what you offered.

Year13novice · 07/11/2023 19:04

Agree with others I doubt the sellers are even aware that the EA told you about other proceedable offers higher than yours of whatever they said, unless it’s true. So if it’s true and maybe the other purchaser changed their minds it’s not the sellers fault and if it’s not true and the EA lied it’s not the sellers fault.

Original poster
AX35 · 07/11/2023 19:09

HundredMilesAnHour · 07/11/2023 18:45

we put in an offer at 700k to incentivise them to move on and sell

Bullshit. You put the offer in because you thought you could take advantage of them being desperate to sell because they can no longer afford the mortgage. Don't pretend you're "incentivising" them. Just own it. You thought you could get a good deal. And now you're trying to press home your advantage even further. The poor sellers must loathe you.

That's the thing it's wouldn't have been a good deal.

700k was their asking price and roughly in line with what other houses sold for in the last 3 years (Top end was the house next to it for 745k, lower end at 690k).

We put in the offer at asking as we didn't want to play a waiting game with them trying to see if they can get someone else to offer in the next two weeks.

OP posts:
Original poster
AX35 · 07/11/2023 19:25

SausageAndEggSandwich · 07/11/2023 18:42

Do you actually want the house or not because playing games in this way won't endear you to the vendor.

If I was them I would dearly love to sell to anyone that wasn't you.

If you would've asked that when we put in the initial offer then I would've said we 100% want the house. Now after all of this and a bit of a cool off period, we are at a point where we don't really care either way.

OP posts:
KievLoverTwo · 07/11/2023 19:28

AX35 · 07/11/2023 19:25

If you would've asked that when we put in the initial offer then I would've said we 100% want the house. Now after all of this and a bit of a cool off period, we are at a point where we don't really care either way.

Show quote history

So, stop messing with them. Unless you are a psychopath and this is how you get your kicks.

95% sure this will be down to the EA.

Fulshaw · 07/11/2023 19:32

But you already played them at their own game and it gained you £25K. So why keep pushing?

Hibernatalie · 07/11/2023 19:32

It sounds like you don't want the house, so I'd pull out tbh

Desolatewardrobe · 07/11/2023 19:33

It sounds like they have an indiscreet and unhelpful EA. They are in a stressful situation. I really feel for these strangers. Please either just stick with your offer if you want the house or walk away so they have some clarity.

Dillane · 07/11/2023 19:35

push back

How very tiresome of you OP. Stop messing around and act like a grown up or stop wasting people’s time.

potatoheads · 07/11/2023 19:35

Wow so you are playing games and getting personal with vendettas and complaining about their tactics? Have you got a mirror nearby?

LoveTheSoundOfRain · 07/11/2023 19:43

If I was the seller I wouldn’t sell to you because the main person who seems to be playing unfair games in this scenario is you.

Original poster
AX35 · 07/11/2023 19:48

LoveTheSoundOfRain · 07/11/2023 19:43

If I was the seller I wouldn’t sell to you because the main person who seems to be playing unfair games in this scenario is you.

What exactly do you perceive as unfair?
Offering a lower best and final with no competition or thinking about dropping the price further after getting confirmation that there is no other interested party?

OP posts:
Desolatewardrobe · 07/11/2023 19:54

I’m a big proponent of property sales being just a business decision and wanting to see less emotion about it all on this board generally but maybe it’s the way you phrased your OP? The seller has done nothing to mess you around that you can be sure of, and it starts to sound like you are the one making it personal. If that isn’t how you feel, you have misrepresented yourself.

It’s entirely possible it was all the estate agent. It’s also possible that there was someone else they thought was interested who fell away.

NewFriendlyLadybird · 07/11/2023 19:58

AX35 · 07/11/2023 19:48

What exactly do you perceive as unfair?
Offering a lower best and final with no competition or thinking about dropping the price further after getting confirmation that there is no other interested party?

Show quote history

The latter. And if I were the vendor I wouldn’t accept: you show every sign of being the type of person who would drop yet further just before exchange. If you’re not that keen on the house and only interested in playing games, walk away.