Buying advice (house)
- Thread starter Woots
- Start date
philbo909 said:
Do you remember the days when you had to put 10% down on exchange of contracts and paid the balance on completion? At some point we started to exchange contracts and complete on the same day (no doubt so sellers could make the most out of the gazumping trend) and it all started to get a bit twitchy in moving chains. When mine goes up for sale you exchange with non refundable deposit in advance or 'jog on!'
raymond.harper said:
Can happen the other way round too.
My borther in law agreed a price, everything was going to plan until his solicitor phoned up saying that they need to increase their offer by 15k as another offer had been submitted by someone who viewed the house when it was originally on the market.
This was over 4 weeks after the offer was accepted. They had gone that far that they had no option to pay the extra but it meant re-negotiating the mortgage.
The law needs to change in this country to stop this type of thing from happening.
raymond.harper said:
If anyone tried that on with me I would refuse to sell them the house at any price, even if they subsequently had a change of heart and offered me the full asking price or more. I've got no time for pricks like that.
Woots said:
That's what I mean about not being in for it heart and soul! As soon as you "have to have it" the seller has all the control and you'd better have deep pockets. One guy I worked for always said "never buy anything you can't walk away from" he had a reputation for driving hard bargains but I do wonder if it made him indifferent to his dream house or car
So the vendor has responded;
I have now heard back from our vendor and she has thanked you for your offer and would love to sell her property to you, especially because of your position, but she if looking for an offer closer to the asking price.
So now we’d like to offer more but should we say we’d be willing to offer 405 and think that’s fair given the work needed to modernise the energy rating.
Or just offer 405
I have now heard back from our vendor and she has thanked you for your offer and would love to sell her property to you, especially because of your position, but she if looking for an offer closer to the asking price.
So now we’d like to offer more but should we say we’d be willing to offer 405 and think that’s fair given the work needed to modernise the energy rating.
Or just offer 405
Woots said:
This is where you have to be poker faced & stick to your max price, after one maybe two increased offers it’s normal to add that it will be your final offer.
If you crumble because it’s your dream home the seller will know this & has the upper hand, you must be prepared to walk away!
Rob
Smartbear said:Woots said:
This is where you have to be poker faced & stick to your max price, after one maybe two increased offers it’s normal to add that it will be your final offer.
If you crumble because it’s your dream home the seller will know this & has the upper hand, you must be prepared to walk away!
Rob
+1 if you've got the nerve thank them for their response and say you'll get back in a few days when you've considered your position. Then book to view another property with the same agent and sit back for a while.
Crazy Harry said:Smartbear said:Woots said:
This is where you have to be poker faced & stick to your max price, after one maybe two increased offers it’s normal to add that it will be your final offer.
If you crumble because it’s your dream home the seller will know this & has the upper hand, you must be prepared to walk away!
Rob
+1 if you've got the nerve thank them for their response and say you'll get back in a few days when you've considered your position. Then book to view another property with the same agent and sit back for a while.
+2 pal. I purchased my first gaff in Jan but that was after my initial place fell through a months prior (luckily didnt lose too much on it but annoying nevertheless) but from my experience of it all, this is good advice from Rob and is what I did when getting the current place.
Paulwirral
Active member
Are the agents local or are you moving to a different area ? I bought and sold houses for a living in the past , if possible your much better going into the agents and dealing face to face , befriend the agents , they already know your in a position to move forward so they are looking forward to the commission from this deal . Once you've reminded them of this it's then possible they may get on the phone to the vendor and be able to get a better idea of what is an acceptable offer , or at least that's always worked for me . It's a good idea to have your partner humming and haaing beside you saying they like the "other" property you viewed . Play the agent .
I've been on both sides of this situation numerous times and it's just poker . Mind you , that said , there's always one who decides their house is worth a certain figure and that's it !
I've been on both sides of this situation numerous times and it's just poker . Mind you , that said , there's always one who decides their house is worth a certain figure and that's it !
Smartbear said:
From experience on both sides of this I’d disagree that agents act for the seller. They act for themselves alone with no interest in taking max commission. They simply want the fastest commission.
The whole market is screwed in this respect. I’d want to pay a tiered commission that rewards the agent increasingly when they upsell the property. Not simply rewards them for happening to be the company you selected to take photos and post an online ad.
Paulwirral
Active member
Woots said:We got it
Now the fun of solicitors and surveys can begin!
Just remember the solicitor is working for you , some of them get on a power trip and go to the far end of a fart to justify their costs . I had a tame one that did a good job but didn't mess around as he knew me personally, retired now unfortunately .
Well done
Well done 