Asking price declined

C

CrazyOne

Registered User
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Hi,
We found a house that we really liked and we offered the asking price - which was declined by the vendor - via the ea. The asking price was then increased by 40,000 euro as the house had been sale agreed and they had put the original asking price on it and then re-evaluated. We offered the increased asking price and have been declined again. There have been no other offers. What to do now? Also why set an asking price if you have no intention of accepting it?
 
maybe trying to get a loan against the value ....the value being what the biggest offer is on it.

you have no comeback whatsoever so walk away
 
Maybe the EA is keeping it for somebody else, like one of his/her friends?
 
Simple. Drop a note in the letterbox explaining that you made an offer at asking which was refused.
You never know...
 
very true phoenix, you never know what EAs are up to . Phoenix means the OWNERS letterbox of course.
 
Caili said:
Surely they cant decline the asking price?? :confused:
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Not only that they can agree a sale at whatever level and if a higher bid comes in before the contracts are signed & exchanged they can and sometimes do accept the higher bid and renege on the agreed sale.
 
Definitely agree with Phoenix and 2 pack - don't assume the EA is acting in good faith.


Roy
 
onekeano said:
Definitely agree with Phoenix and 2 pack - don't assume the EA is acting in good faith.


Roy
Click to expand...

I'll add my vote to this, after getting an underbid rejected on a property last year (property was on the market a long time) we approached the vendor directly. To cut a long story short they were furious as they'd never even been advised by the ea of the offer. Never found out why as we didn't proceed anyway due to other factors.

Similarly about 6 years ago i was in a bidding war with someone else for a property which was going up a grand at a time (started 85k, ended 96k). I offered 97k which to my amazement was rejected by the ea with the excuse that the vendor 'was happy with the price as it was and prefered the house to go to a young family than a single ftb'.

Possibly true and i accepted it at the time but again a few weeks later i felt it was so suspicious i decided to approach the vendors directly and ask would they re-consider. Of course they hadn't even been told about my counter offer and were astonished at the ea's excuse on their behalf. Never did get to the bottom of that one either since i ended up bidding for the house i eventually bought shortly afterwards.

Moral of the story? Never trust an estate agent.
 
Read chapter on estate agents in 'Freakonomics'. Gives you a real insight into the machinations of that particular industry
 
Caili said:
Surely they cant decline the asking price?? :confused:
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Of course they can - that's the free market for you.

But I see that this thread is probably descending into yet another rant about EAs so you might not get any useful feedback to your original query from here on in I'm afraid...
 
Caili said:
Surely they cant decline the asking price?? :confused:
Click to expand...

That was my thinking too - but apparently they can.
As for approaching the vendors directly - they are not in the country.
Thanks for your comments - much appreciated
 
Very good thread here and I must agree with the general view on EA, especially when I was buying. I am selling soon and I have an EA in mind but will also advertise it on daft myself also, in that it will keep him on his toes.

In relation to the asking price, alot of the EA state a price just to get the ball rolling and they really expect a higher bid. Well thats my opinion on having a few of them out anyway.
 
I have given an EA a bid of approx 94% of the asking price and was told "the sellers probably won't accept that". I put the bid on last Wednesday and was assuming I would at least get a call on Thursday or Friday to say Yea or Nea.

I assume the EA is duty bound to at least tell the vendor. How long do people think I should wait before ringing the EA and asking what the story is? Without looking too interested!
 
I bid a few years ago on a house did not want to look too keen
Bid on the monday called to check on the wednesday
thursday night had a message left on my A/M called back on Friday morning and they had sold the house.
If you are keen on it follow up I think the chances of them raising the price cos ur keen are less than someone else applying the screws in the meantime.
If you want to get an answer then give them a deadline at least you get an answer one way or the other,
 
Hi There
My inlaws had the same problem a few weeks ago. They offered the asking price for an appartment in Dublin and had to wait 3 days for a reply from the ea who informed them their offer had been rejected. They made three more offers which all went the same way. Fed up and feeling a little suspicious they went into the estate agents and increased the offer by 1000 euros, insisting the estate agent ring the vendor there and then on speaker phone so they could hear for themselves if it had been rejected. The ea came out with all sorts of excuses etc so they informed the ea they were prepared to wait all day in his office if necessary. In the end with the ea refusing to contact the vendor in their presence they told him exactly what he could do with the appartment. I have no doubt the ea's do play a game, afterall they are in it for the money..

Anyway the next time they wanted to put an offer on an appartment they went into another ea and asked them to make the offer in front of them, which they did and was accepted. My advise is know what you want, what you are willing/can afford to pay and don't be bullied, after all you are paying a hell of a lot of your hard earned money.

best of luck
 
dont talk to me about some of those crooks! when buying our first home in a development some years back EA could not sell us a house on corner site with large garden as he said it was sold. It wasnt of course but he was keeping it until one of his own contacts bought it months after us. cost us 25k on the resale.
 
I was in a similar situation about 2 years ago.

Made an offer on a house 2 grand above the current offer. EA came back and said the owners were happy with the current offer and were going with that.

But the EA then showed me a similar house in the same estate.
Made an offer on that house about 5 grand below asking price and the EA told me that it was refused. I then said I would give the asking price and assumed it was a done deal. EA came back and said that the owners refused again.

I didn't want the hassle so asked the EA what price exactly were they looking for to do the deal there and then. He then suggested that I put forward the price I was willing to pay and he would go to them with that.

At that stage I told him to forget it and to come back to me when they were serious about selling the house. I never heard from him again. I wish I had approaced them directly at the time.
 
june said:
EA could not sell us a house on corner site with large garden as he said it was sold. ..... cost us 25k on the resale.
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surely there is more than one such property in area (not estate wide but disctrict wide) you were interested in...
The so-called cost on resale you menntioned is simply a consequence of you having lower your expectations when you were buying rather than EA having told you that the particular property was sold..
Too easy to blame the EA for everything...
 
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