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Post by Deleted on Jul 9, 2020 9:35:14 GMT
Are you dealing with an Estate Agent or direct with the owner? With the owner. It's a strange one. It was with an agent but she pulled it 3 weeks ago. Asked her why, she said the estate agent was closed. Suspect she may have generated enough interest to believe she could sell it without the agent, trying to avoid their fees. Complicates things - the timing of the Agency agreement - the owner may still be liable for fees if you saw the agency advert (i.e. was 'introduced' by the agency) - I'd ignore that though and not speculate why/what etc - many people fall out with EAs.
I'd give the owner a call, apologise for any offense regarding the low offer saying you thought it was fairly standard to make a 10% below asking price offer (play the idiot... a bit).
Ask the owner what they would accept as an offer to start negotiations, depending on reply then offer 5k below but say you are still open to up the offer a small amount' point out gently that you have already upped your offer by 7k. Take the conversation from there.
I'd do it today and try to get an agreement today - above all try to come across as someone who they can feel comfortable to do business with - you have made a bad start...
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Post by patty on Jul 9, 2020 11:01:49 GMT
Well my offer, £12K below the asking price was swiftly dismissed. "It was lovely to meet you, I'm sure you'll enjoy living in Barmouth if you find somewhere suitable, and make lots of friends" Oops. Seems the low offer caused a tad of offense. I do want to buy this place. If I needed to pay the full asking price I could, but I don't want to. I'm thinking of leaving it for a day or two then increase my offer by £7K, that's £5K under the asking price. Alternative strategies welcomed! sometimes it feels like an insult..the woman who went on to buy Horror House did that and I was close to pulling it off the market I was so angry...she had seen it pre renovation and knew how much work and money I'd poured into it and then she went onto put an offer in that was about 25k under the asking price.... If u really want this place put in a fair offer, do not think anyone expects to get full asking , I got this place at 5k under the asking price..they accepted immediately
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Post by Clinton Cool on Jul 9, 2020 12:22:08 GMT
With the owner. It's a strange one. It was with an agent but she pulled it 3 weeks ago. Asked her why, she said the estate agent was closed. Suspect she may have generated enough interest to believe she could sell it without the agent, trying to avoid their fees. Complicates things - the timing of the Agency agreement - the owner may still be liable for fees if you saw the agency advert (i.e. was 'introduced' by the agency) - I'd ignore that though and not speculate why/what etc - many people fall out with EAs.
I'd give the owner a call, apologise for any offense regarding the low offer saying you thought it was fairly standard to make a 10% below asking price offer (play the idiot... a bit).
Ask the owner what they would accept as an offer to start negotiations, depending on reply then offer 5k below but say you are still open to up the offer a small amount' point out gently that you have already upped your offer by 7k. Take the conversation from there.
I'd do it today and try to get an agreement today - above all try to come across as someone who they can feel comfortable to do business with - you have made a bad start...
I used to be the credit manager for Bridgfords Estate Agents. Part of my job was to pursue people who'd taken their houses off the market in order to avoid fees. You're exactly right, if introduced, the fee was payable, and I regularly enforced this through the courts. I'm not sure smaller agencies would go to the trouble of matching all completed house sales to lists of customers who cancelled but there again, a local agency, where most people know everyone else, will probably find out anyway. It's the seller's business though, nothing to do with me.
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Post by Deleted on Jul 9, 2020 12:41:22 GMT
That's slightly shocking to hear that "in another life" you worked for an estate agent.
A little troubling in some respects.
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Post by Clinton Cool on Jul 9, 2020 13:00:55 GMT
That's slightly shocking to hear that "in another life" you worked for an estate agent. A little troubling in some respects. It troubles me as well. Fortunately, it was only a 6 month placement. The role I spent much of my working life in was a similar role for a large property development co. Owners of shopping malls, office blocks etc. All day every day chasing money, instructing bailiffs, instigating legal action, making decisions on further enforcement such as charging orders on individual's houses, issuing bankruptcy petitions. Looking back I've no idea how I did it. Fortunately the boil was lanced 13 years ago, much water has flowed under the bridge since which makes the memory a little less horrific than if it was in recent memory.
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Post by kris on Jul 10, 2020 7:31:32 GMT
That's slightly shocking to hear that "in another life" you worked for an estate agent. A little troubling in some respects. Yes someone having to work for a living, shocking.
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Post by Deleted on Jul 10, 2020 7:37:20 GMT
Sounds like a scam to me.
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Post by peterboat on Jul 10, 2020 17:22:57 GMT
Complicates things - the timing of the Agency agreement - the owner may still be liable for fees if you saw the agency advert (i.e. was 'introduced' by the agency) - I'd ignore that though and not speculate why/what etc - many people fall out with EAs.
I'd give the owner a call, apologise for any offense regarding the low offer saying you thought it was fairly standard to make a 10% below asking price offer (play the idiot... a bit).
Ask the owner what they would accept as an offer to start negotiations, depending on reply then offer 5k below but say you are still open to up the offer a small amount' point out gently that you have already upped your offer by 7k. Take the conversation from there.
I'd do it today and try to get an agreement today - above all try to come across as someone who they can feel comfortable to do business with - you have made a bad start...
I used to be the credit manager for Bridgfords Estate Agents. Part of my job was to pursue people who'd taken their houses off the market in order to avoid fees. You're exactly right, if introduced, the fee was payable, and I regularly enforced this through the courts. I'm not sure smaller agencies would go to the trouble of matching all completed house sales to lists of customers who cancelled but there again, a local agency, where most people know everyone else, will probably find out anyway. It's the seller's business though, nothing to do with me. When we were selling Mums house I went to the agency my sister had chosen and tried to get details or see it in the window, this was a couple of weeks after being instructed. to cut a long story short we pulled it from them and put a for sale notice outside it sold very quickly for full asking price, the EA tried to bluff it but they had after two weeks done nothing for the money so we told them to sod off! which they did
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Post by lollygagger on Jul 11, 2020 15:58:02 GMT
EAs have lists of seekers as well as sellers. The first thing they do is try and flog it to one of those by pretending they have the prvilege of advance notice before the property is put on the open market. This is kind of true, but the real reason is to save the agent cost and effort.
We put ours to sealed bids, the winner then came round with his mate who may or may not have been a builder and tried to knock £40k off his bid (about 8-9%). He was told via the agent to do one and also agent was instructed not to sell to him in any circumstances even if he upped his initial bid.
Estate agents are crooks. Another one offered a real cheap percentage if we'd agree sole agency and his valuation then and there. Turned out he was under valuing by over £100k. He was obviously lining himself up a bung from a developer.
I remember painting a for sale sigh for my dad when I was 4. I can still picture it now. My dad did most of the conveyancing as well. House sold quickly and the legals took no time. He said it was easy.
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Post by Deleted on Jul 11, 2020 22:58:35 GMT
We had a scum estate agent trying to screw my mum over on a house sale in the 90s. They must have thought she was an easy target due to being a single parent with three kids and a nice house by the Thames. It was a forced sale as property was 1/3 owned by one of my aunt's who had just bought a Chinese baby and needed some cash due to issues with the baby's grandparents and getting the baby out of China as fast as possible. It's a bit of a costly game. True story.
anyway the "word removed" agent who was called Ross Hand got a glossy brochure printed about the house but with shit photos as it was a bit of an odd house and easy to degrade. Nice place though. People came in flash cars to see it then we got a low offer. Scam alert.
My mum called the council about planning to knock the house down and build on the site and they said they had already had an application from someone who didn't even own it!
We discovered he was in cahoots with the estate agent scumbag so dropped him and went with another agent who got the house sale done. House is still there. Never got knocked down despite that being a valid option for the land.
Cunts the lot of them.
I'm as happy as larry to have never been involved in the property game. Give me boats any day.
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Post by lollygagger on Jul 12, 2020 18:50:34 GMT
I'm as happy as larry to have never been involved in the property game. Give me boats any day. On the other hand, we were effectively paid £350,000 after mortgage costs to live in a nice house for 20 years. It's not all bad for those that can afford to join in...then sell up.
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Post by Clinton Cool on Jul 13, 2020 11:26:43 GMT
Offer accepted, yes!
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Post by Deleted on Jul 13, 2020 11:47:28 GMT
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Post by Clinton Cool on Jul 13, 2020 12:00:53 GMT
The little one bedroom one on the rock in Barmouth, £4K below asking.
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Post by Deleted on Jul 13, 2020 14:04:01 GMT
Congratulations !
Are you now selling the boat or keeping it as a holiday boat ?
Rog
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