Am about to offer more than the house is on for....

[navyeyelasH]

Just goes to show a house is only worth what you're willing to pay, even in this climate!

Why?Surely it is a buyers market?????

presumably there is a bidding war on this particular house

Well, that's certainly true but what's your reasoning?

Why not just offer the asking price?

why do you want it so much?

Then you have more money than sense and should give it to me to look after.

Where's Navy gone? I NEED to know.

are you shagging the agent ?

Or - - the vendor is blackmailing her because of some dark secret?

Wouldn't you get a discount for shagging the agent, I suppose it depends how good you are of course

navyeyelasH hasn't come back - maybe she's been sectioned .

haha sorry forgot I posted this TBH.

The house is the repossession I was referring to in this thread. I don't want to reveal where the house is etc in case someone connected in on mumsnet. so values have been changed. But in Sep house was on for £250,000 and didn't sell. Now on for £180,000 & I personally believe it's worth about £210 in this climate.

Have to'd and fro'd with EA have put in 3 offers, £165 £175 and now the asking of £180 which we still haven't hard back about.

So you're offering the asking price then not over! Phew, we all thought you'd gone mad for a minute there.

PS> do EA ever get laid [bleugh face]

We will go over though if needs be

We will go to £190,000 to get it.

Our EA was sex on legs, very good looking, had no idea what he was talking about, which almost made up for it

The local EA is amazing, v freshfaced, extremely clever, very low key. I think he owns half the area TBH.

Did you get it Navy?

We still haven't heard - does anyone know what time-scales are like for repossessions because I'm starting to think the EA are having a laugh at my expense.

I'm guessing that there are more viewings lined up for tomorrow and the mortgage co. are hedging their bets.

I'd like to assume that too minty as the other option is more worrying.

We have had 2 offers refused thus far, and for each of those refusals, I've had to ring the EA's to find out the offer was rejected. They have never called me to tell me this is the case. Is this normal? I'd expect them to be calling me right away and saying "it's refused, what's your next offer" sort of thing.

The first time it took 2 weeks to hear back about our offer (I called once in week one and then twice in week 2) and when I called they had known for at least 24 hours the offer was rejected, the second time it took 8 days to find out and I chased them after 8 days of hearing nothing they had known "for a few hours" that the offer was rejected.

Art the time of me offering asking price they had no higher offers and nothing had been accepted.

It's not making much sense to me! Anyone else? They are saying it's because there is a middle man in repossession (EA, middle man, then bank) and that's why it's taking so long.

My worry is the EA is doing someone a favour and fobbing me off!?

It sounds very odd indeed, navy. 8 days? Who is this middle man? Solicitor?

Sorry have no experience and no advice to offer. Just hope you can hold your nerve and that you get it.

Have you put the offer in writing? Did you know that Estate Agents are obliged by law to put all offers forward to sellers and that if you do put forward an offer they should acknowledge it to you in writing as well?

Has this happened?

I'm not 100% sure who or what this middle man is, they keep saying middle company. Maybe I should ask.

They have sent us a letter saying our offers were rejected, but they sent it to us just yesterday and that's about 3.5 weeks after our very first offer. Maybe I should write to them instead? It's just not making a lot of sense to me right now!

Navy, the only thing I can think here is that there is more than one mortgage company involved, i.e. the First Charge then subsequent borrowing with another company who have a Charge over the property. Your offer may be covering the First Charge (which that company is happy to accept) but leaving the second Mortgagor with a shortfall which they would have to chase the borrowers for.

You should not be having to chase the agents though that is bad practice. Have you met the agents face to face so you know who you are dealing with?

If the property has been mortgaged to the hilt then it can be a bit of a long-drawn out process tbh.