asking price differ from real price

C

CathyK

Registered User
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Hello

I wonder if anyone can give me their options on the following

My sister went to see a house yesterday which was advertised at a price in excess of 308K. She met the agent at the house yesterday to view and liked the house, she asked the agent what would the vendors accept as an offer, and she said that she would have a very good chance of getting the property at 310K. She know her budget etc and said that she would like to put in an offer of 310K, and the agent then said that there is no way that the vendors would go for this, but she would put it too them,

She then rang my sister back 2 mins later and said that they would not go below 315K, my sister though about it and my family offering her a little cash to help her on her way then went to the agent today and said that she could go to 312K, the agent then came back and said the the vendors would not now go below 317K,

it would appear to me that this is bad advertising on the agents behalf, and there is no way that my sister would have considered the house at this price, she knows what she can afford so jumping from 308K to 317K seems a little crazy, bearing in mind that this house has been on the market for sometime now and no offers, it seems very underhand by the agent.
 
I've always taken the view that you should never exceed what you think is a fair price for a house.

Personally, if a) a house has been on the market a while and b) there is no other bid in and c) the estate agent has listed offers in excess of X amount, I would offer X and if they then come back and say "we won't sell it for less than Y, a greater amount than X, I would say then I am not interested and I would (and have) walked away. They are not dealing in good faith.
 
EA not very good at their job if all facts you give are spot on! (if they bulls**t you - that is their job -to get the most for their client - but at least they could do it well!)

My advice is;
Bid 308k (back it up with mortgage approval document to show you are serious)-tell the EA that you will leave this bid in - the EA has to come back to you if another bid comes in.

If EA magic's up another bid - call their bluff and tell them to sell it to the other person - get a friend to ring up the next day to see what the current bid is ;

- if the EA says it is sale agreed - you can still put a bid forward - that has to be put forward to the vendor by law.

You may find that they tell your friend that it is in fact still viewing (not sale agreed- this was only told to you to get you to bid higher & it did'nt work!!)

Other thoughts are that with so many houses on the market, don't set your heart on this one alone - i bet there is similar houses nearby for sale.

Good Luck !!!
 
Tell your sister to phone up the EA and them tell that you are changing your bid and now your bid will only be 280K. Then tell the EA to get back to you and finish the phone call.

Remember the EA is not your friend so your sister will have to learn to play harder.
 
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