estate agents and low offers
Discussion
i bought the just sold house in 2004 so loooowwww offers were never in the running.
now though if we buy any time soon we want as near to 20% off as poss to cushion the blow of what's going to happen this year.
does one need to 'worry' about agents not taking you seriously if you keep offering low on stuff..?
the market i am looking around in seems to have not a huge abmounton offer and enough people who don't think/care about the market continuing to adjust this year...
i am not desperate but if i could buy in the first half with a reasonable discount i'd be fairly happy. but at the moment i just can't see it happening to be honest. we saw a place the other weekend that went pretty much right away for 10% more than i'd want to have paid..(realistic)..it's kind of looking like having to wait until people HAVE to sell because i think people will keep holding out because there seem to be people willing to stump up the readies...
so is it even worth us making some low bids do we risk alienting the agents..??
do you see what i mean? we started to look to 'see what there was' but it's what i thought would happen - people are mostly just not bothering...!
now though if we buy any time soon we want as near to 20% off as poss to cushion the blow of what's going to happen this year.
does one need to 'worry' about agents not taking you seriously if you keep offering low on stuff..?
the market i am looking around in seems to have not a huge abmounton offer and enough people who don't think/care about the market continuing to adjust this year...
i am not desperate but if i could buy in the first half with a reasonable discount i'd be fairly happy. but at the moment i just can't see it happening to be honest. we saw a place the other weekend that went pretty much right away for 10% more than i'd want to have paid..(realistic)..it's kind of looking like having to wait until people HAVE to sell because i think people will keep holding out because there seem to be people willing to stump up the readies...
so is it even worth us making some low bids do we risk alienting the agents..??
do you see what i mean? we started to look to 'see what there was' but it's what i thought would happen - people are mostly just not bothering...!
It's the same around here, been looking at buying another renter if i can get one for a heavy discount. Went to look at a repo last wk. in good times it would have gone for £150,000ish already had offers of £132,000. Thing is there's a lot of people with cash that don't trust banks anymore and only getting low interest if they do, easy to still buy a renter and get 5-6%. And no fear of inflation if they start printing loads of money.
caterhamboy said:
It's the same around here, been looking at buying another renter if i can get one for a heavy discount. Went to look at a repo last wk. in good times it would have gone for £150,000ish already had offers of £132,000. Thing is there's a lot of people with cash that don't trust banks anymore and only getting low interest if they do, easy to still buy a renter and get 5-6%. And no fear of inflation if they start printing loads of money.
Surely that is exactly what printing money causes.It's a matter of doing some research and finding out if the asking price is realistic.
If a house has just been reduced from (say) 380k to 330k it's unlikely your 280k offer will be entertained.
Not impossible, but unlikely.
Everyone has different circumstances for selling. Offer what you think it's worth and are happy to pay.
If it's rejected then nothing lost and move on to the next property.
As said, the agent is obliged to inform the vendor of your offer but do remember they (the agent) are working for the vendor, not you.
Good luck and let us know how you get on.
If a house has just been reduced from (say) 380k to 330k it's unlikely your 280k offer will be entertained.
Not impossible, but unlikely.
Everyone has different circumstances for selling. Offer what you think it's worth and are happy to pay.
If it's rejected then nothing lost and move on to the next property.
As said, the agent is obliged to inform the vendor of your offer but do remember they (the agent) are working for the vendor, not you.
Good luck and let us know how you get on.
Si 330 said:
I have just sold our house last week. Agreed sale price £3800 under asking, price it correctly (not stupidly low) people will look and bid. A very similar house several doors down is on at £45k more they haven't had any viewings.
Never a truer word spoke, A guy i know who flips properties is still doing a good trade. buys them cheap and advertise them cheap and gets a few parties interested and endeds up with a few grand more. He works on low profits and started out in the early 90's when you couldn't even get people to view let alone make an offer. He says there's still loads of people who want to buy and would if they could get funds.blindswelledrat said:
loafer123 said:
.
I always offer in writing.
I always offer in writing.
WHy?A fair number of people back up verbal offers with written ones. It leaves no doubt about the offer that's being made, is intended to show the agent the buyer is serious, and (perhaps subliminally) underlines the lack of trust in Estate Agents.
On a happier note we had pur first attempted gazumping of the year today.
Edited by scotal on Monday 19th January 14:50
loafer123 said:
Always bear in mind (and remind the agent) that they are legally obliged to send the offer to the vendor unless specifically asked by the vendor to disregard offers below a certain level.
I always offer in writing.
But you know they won't blow a deal out in a chain where they have commissions throughout that chain for some Jonny come lately with an extra £500.I always offer in writing.
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