Estate agent and Vendor trying it on....

[thebraketester]

Any thoughts on this?

They have called back today saying they now want 307.5K.





I supposed they are allowed to do that even though we have the offer accepted in writing? Seems a bit unfair.


Thanks

Rich

Edited by thebraketester on Thursday 12th January 17:23

[thebraketester]

Its my sister in law buying... so not exactly sure how the telephone conversation went.

I doubt that there are any other offers. Lets face it, if someone offered them 310-312 for it then they would surely just take there offer and not try to do a secondary negotiation with my SIL.

Just seems madness how you can get an offer accepted in writing from the estate agents with the vendors backing and then have them move the goal posts. If we had time to piss about I would recommend she offers the 307.5, and then right before exchange reduce the offer back down to 302.5.


Thanks for your advice everyone.


edit... they have offered 305 now as a take it or leave it offer.

[thebraketester]

Sir Bagalot said:

Have they told you why they want an extra £5K?

BTW what was the asking price?

Asking was 309

No reason given as far as I can tell. Seems they are just greedy s.

[thebraketester]

Muncher said:

I'd get back in touch and ask them how they would feel about £297,500 now.

Tempting. :-)

[thebraketester]

FrankAbagnale said:

thebraketester said:

Sir Bagalot said:

Have they told you why they want an extra £5K?

BTW what was the asking price?

Asking was 309

No reason given as far as I can tell. Seems they are just greedy s.

At a guess.

Went on the market on the 12th December - i'd think they had very little interest in December and told the owner January would bring new life to the market. Second week back and they have an offer which they jump at, only to get greedy as it's the "beginning of the spring market" and they've come to the conclusion overnight they've accepted too lower offer when the market is about to boom in the new year!

Yes. I think that sounds plausible, and probably exactly what has happened.

[thebraketester]

It has been ( i think) taken off rightmove.

From what I can gather, zoopla does read low for the area, by about 25-30K compared to what houses are being listed for. I think this one is at 291 on zoopla.

[thebraketester]

Borroxs said:

Perhaps their target property has raised their price and they are trying to pass it down.

No chains involved here. SIL is first time buyer, and there is no upper chain.

[thebraketester]

FrankAbagnale said:

thebraketester said:

It has been ( i think) taken off rightmove.

From what I can gather, zoopla does read low for the area, by about 25-30K compared to what houses are being listed for. I think this one is at 291 on zoopla.

Ah OK, i'll send you the link of the house I am referencing via PM.

Yep.. thats the one.

[thebraketester]

The problem is that a lot of the houses in that price bracket are maybe 3 beds but in rough areas. Ok. ok. ok... I know we are talking Hemel here, but there is Hemel... and there is Hemel.

Prices do seem to have bumped up a lot here. For example. We bought 5 years ago. 2 bed end terrace and paid 175k.

[thebraketester]

Apparently the Vendor "Got [their] sums wrong"

i.e.... they had an attack of greed.

[thebraketester]

Sir Bagalot said:

Your SIL needs to do a bit of research on the property market. A 2 bedder is Hemel isn't worth £310K. Even if it does have a nice new kitchen. She is over paying for it. Look at prices around it... they're 3 bedders.

But she won't listen and 5 years down the line she'll moan she overpaid for it

Yes you can get a 3 bed, that is in a less desirable area. Ideally it would be nice for her to have another 10-15K as that opens up a lot more properties, but the fear is if she waits then the prices go up

Edited by thebraketester on Thursday 12th January 20:15

[thebraketester]

MOBB said:

Personally I wouldn't want to deal with a vendor like that, what else might they do nearer exchange?

I agree.. and this is a concern. I have suggested that they still keep looking at houses and see what happens.

[thebraketester]

Latest is the vendor has accepted a 305 counter offer.

I fear this won't be the end of it.

[thebraketester]

blade7 said:

I like the note on the bottom of the EA's letter "It has come to our attention fraudsters have been posing as Estate Agents" .

Yeah... the irony eh?