Difficulty with EA

K

killeoin

Registered User
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41
Hello all,

I'm just wondering if this is normal practice and to what I might do to conteract the situation.

2 weeks ago I placed a bid of 400,000 on a house (with an asking price of 400,000). The EA never rang me back so this week I rang to find out the situation. I was told that the owner would not sell for that which I suppose is there decision (though I would like to have been told).

Now this morning EA rang to find out what my situation was. Trying to pressurise me into saying that I wouldn't go any more. I rang the main office before lunch and was told the bid was 410,000. Just rang the EA and he confirmed it and told me that he is going to sell it now and that its up to me to get back in with another bid because he will sell straight away.

Funny thing is I believe him!
I have a feeling that he could be selling it to some pal of his.
Any advice?


EDIT "ummm....Maybe I should have posted this in property Investment"
 
Can you ask to speak to his superior/manager to explain the situation? Although alot of them are snakes in the grass anyway. You could well be right about selling to his mate, unless the want a quick sale, why would they close straight away? Someone suggested on here before to put a note through the door of the house to the vendor, just to see how much they actually know. Might work for you.
 
Oh I see! Well can you get someone else to call him for you to see what the current offer is and feel it out for you? Get them to say they'll come back to them on Monday to set up a viewing? As it's not owner occupied then it would well be a quick sale situation. You have to think about how high you're willing to go for it.
 
I did allready, thats how I found out about the bid! He didn't even ring me himself I had to ring him to ask what there any bids on it!
 
Well as I say, you need to think about how much you want the house and how much you're willing to pay, it doesn't sound like he'll hold out for you. Have you your heart set on it?
 
yeah kind of. I'll prob wait until Monday now and ring the partner of the company involved and ask to deal through him.
 
dats_right said:
Don't really know what op's problem is. Maybe, the vendor is pushing for a quick sale in order to buy somewhere else themselves. If you have been outbid then it's a case of raise your bid or admit defeat, I don't get what your problem is with that? If the vendor is pushing for a quick sale, why should they wait around for you to make up your mind as to your next move.

Have you got loan approval for that amount or are you dependent on the sale of your own property? Have you considered the possibility that other bidder is in a better financial position (i.e. ready to go immediately).
Click to expand...


Well I suppose my problem is that I had a bid in with 2 weeks & my second problem is that the EA didn't even ring to tell me about the new bid. If you have a bid in are they not supposed to inform you if you have been outbid?

I am also "ready to go".

Just to clarify, I have no problem with someone outbidding me. I have a problem with the EA and how he has handled it. He rang me in the morning and didn't tell me there was a higher bid on the table & at the same time tried to force me into telling him I wouldn't go above 400. Does this not seem a bit odd? I then had to find out myself that there was a higher bid on the table.
 
Sounds odd to me allright. In my experience the EAs generally come back to you if someone makes a higher bid, or will at least inform you if you ask them. Yes, I'd be suspicious if I had to find out about a higher bid through a different channel.

I've never been pushed by an EA to say what my highest bid is, or would be, or what my limit would be. If they do this, you should refuse to answer. Tell them straight out it's confidential. You can add that it's dependent on the type of property as well if you want.
 
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