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How do you find out what happened with the bidding? Aren't the agents the only ones who know? They just reveal that information?
I've just made an offer on a flat (3rd place I've offered on) and I have no idea what I'm doing.
The asking price is 325k, but the agent reveals at the viewing that the seller is desperate and will accept as low as 300k, it's the first thing she says. That's a bit weird isn't it? It was music to my ears, but the more I think about it, it seems odd.
I've offered 305k. My absolute, stretched to the bone budget is 310k. I viewed as a long shot and there's very little on the market at the moment, but I think the agent's sucked me into thinking I can get it, when I've got no chance.
I never knew this could be so perilous. Even if you get the place you want for what you're willing to pay, you will feel like you've been done.
neu-
The asking price is 325k, but the agent reveals at the viewing that the seller is desperate and will accept as low as 300k, it's the first thing she says.
I've offered 305kHow long has it been on the market? Have previous sales fallen through? It may have some major issue that you will discover after 6 weeks of legals.
Why didn’t you offer 300 (or 295 etc)?
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From when I was buying I definitely had the impression that there were some clients/properties who the estate agents just wanted rid of.
That £20k may be worth £200 commission to the agent (or maybe nothing if it's a flat fee).
NickCJ
aggi
From my experience you are right to be suspicious. Been to best and finals a few times now with some really dubious scenarios. Once we were bidding against one other couple. They were cash buyers (so generally favourable) but we were the highest bidder. They asked us to bid again because there wasn't much in it. So we did and they went for the cash buyers anyway. Bled another £8k out of the cash buyers in the process.
Similar thing happened another time except the cash buyers were already the highest bidder (cue speil from estate agent about us being first time buyers and how attractive that was...) and they wanted to give us another go. Obvz they went for the cash buyer anyway.
tl;dr - There are some really cunty estate agents out there.