Another bidding question.

My landlord bought his house private sale with the following technique
Sellers secretary "Hello Mr X's office"
Landlord "Well I'd like to speak with X I have an offer to put in on house"
Sellers secretary "He's busy at the moment, can I get him to give you a call"
Landlord "Give him this message, I'll give him 200,000 for the house, he knows me, I don't give second chances, he's got till the end of the day good bye" - Phone down

Minnie, it is interesting that you were almost apologising for offering a low amount for the house. Only for the EA acting as a barrier between you and the seller you would have been able to pick it up for 430,000, have no doubt about that.
 
I kinda got the feeling that I should have offered lower when I hung up but if I get it for even 440 I'll be more than happy. My plan is not to go any higher unless they tell me they have another bidder.
 
Minnie*** said:
I kinda got the feeling that I should have offered lower when I hung up but if I get it for even 440 I'll be more than happy. My plan is not to go any higher unless they tell me they have another bidder.
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Did they get back to you ?
 
Minnie*** said:
Not yet. What do you think is that a good or a bad sign?!
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Do me a favour. If they come back looking for more tell them that is your final offer. Ask them to phone by Monday whether it will be accepted or not.

You can always phone back on tuesday offering more.
 
No way to 435.... She didn't even try to get me to go up any further. She just said they said no and were hoping for offers over 455 but hoping to get 460!!! I said thats a pity and thanks very much for letting me know. I asked no questions and she didn't try to get me to go higher.

What will I do now guys?????????
 
For a start, relax. If they receive another offer they'll let you know. Your's is the first offer they've received in 3 months, if they have to sell they'll sell.
 
I would keep in mind that the agent may view this thread. From the numbers posted, your offer/strategy could be identified.
 
minnie relax - do not ring again - they will ring back if they have another offer. Meantime have friends ring up and ask if there have been any offers t put your mind at rest.
 
No word since last week. Friends have rang up and the EA said there are no bids on the house. We can't decide on what we should do next. I really get the feeling that they won't accept anything less than 455. We also heard they are building so maybe they are not in a big rush to sell.

Why would the EA not tell people that there was a bid of 435 on it?... Maybe they think it's way too low and don't even want people thinking the bidding can start there.

Any ideas on what to do next???

Minnie.
 
Might be worth contacting the IAVI as to why the agent is misrepresenting the bidding position on the property. In view of the recent primetime special, you might get some answers.
 
hi Minnie, having been through this recently I feel for you! Could you get yur friends to view and offer 430? See what happens? The best of luck to you!
 
Read this with great interest. Phoenix N your a legend minnie should be getting you to buy it for her. Minnie I'd be interested to know what your situation is. Are you renting and need to vacate or selling and havea closing date of sale? Interstingly I had lunch very recently with an EA and they are thinking of changing careers (and they love what they are doing) - I think it was their subtle way of telling me things weren't good for the market as I was trying to get loads of info.
I'd sit tight on the offer. I'm looking at buying myself and I'm sitting tight on a few properties. No offers on them and I haven't made any.
 
Put the offer of €435,000 in writing to the EA and cc the letter to 'the owner' at the house address. If you have to do the EA's job for them then so be it.

Sarah

www.rea.ie
 
Yeah thats good thinking. Go over their head. Go to a manager if needs be.
 
I was in a similar situation before Christmas, basically the EA said our first offer was ridiculous. God love him he was a bit thick and between myself & hubby we found out how much the property had gone sale agreed for in June (this fell through as purchasers finance didnt work out.)

We then topped 7K onto our original offer - still below asking price and said it was our final offer, it was accepted.

I know this wouldnt always work and EAs differ - as I said ours was more than a bit dim!

BUT we also had another property we were bidding on where they kept pushing it up and up and up, then he rang and lied it was sale agreed, I see that property is now back on the market for less than our final bid.

That seller was in no rush and IMO very greedy, the EA was no better, and had his eye firmly fixed on his commission.

I think it is up to us the public to play them at their own game, they have had it too easy for too long. We shouldn't be afraid to offer less, most properties are so overvalued as it is.

When we were selling our EA was extremely pushy and insisted on marketing out property for about 15K more than I would have dreamed of asking for, I felt sick! In fairness it worked out but they really have been causing alot of the price escalation for along time!!

Just my tuppence worth :)
 
Hi everyone, i have bought a munber of properties over the last few years and have used various techniques in relation to the purchase, i find that if you are confident and have a sound knowledge in relation to the property market in your chosen area and also know the various EA,s you can easly play them at there own game.

Late last summer i was driving around Wexford and came across a property where the EA was erecting his sign and the vender looking on in approval, i went for lunch and returned when the cost was clear. i spoke to the vendor and got all the details then made a list of a areas of concern and contacted Wexford Co Co to find out if there were and plans for the area i.e planning developments, social housing, road widening etc and got the all clear i than made an offer direct to the vendor and stated that i was a cash buyer and would not increase my offer and if i did not get a positive decision within 1 week the offer was off the table.

I am now the proud owner of a holiday home in the sunny south east with planning permission pending to upgrade the site
 
No news yet.

The good news is another house in the area has come onto the market. I still prefer house no1 but it's taken the pressure off me a bit. I don't feel like I should be running to the EA with another bid for house no1 now that I have a back up plan.

Thanks for everyone's opinions so far. I will keep you all up to date with any changes.

Minnie.
 
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