leeds chimp Posted October 17, 2017 Report Share Posted October 17, 2017 Went to view a property on Saturday and liked it... The vendors were in too so had a good chat and got a feeling for them and the place.... And told them our situation.. (place will sell within a week ) Put an offer in Monday morning which I thought was OK and only came back tonight to say no... Uped the offer and can back in 20 mins saying no... EA said they already have a cash offer from a few weeks ago that they are sitting on and my offer (it seems ) is higher ... Then he said I need to get alot closer to the asking figure.... Then he said the vendor wants me to put ours on the market and have a sale in place and also go in to see their mortgage advisor to prove I have the funds etc?? Said not happy forking out for surveys and valuation reports without a firm offer to buy.... EA said thats what the vendor wants... Felt really pressured to some extent Tempted to go round and just ask the vendor what he wants and asks for face to face.... Or is that not really the done way? Quote Link to comment Share on other sites More sharing options...
ph5172 Posted October 17, 2017 Report Share Posted October 17, 2017 (edited) I would just go round, what have you got to loose? If the cash offer is that good why haven't they taken it, and who would sit around on the off chance they may get a cash purchase sometime in the future unless its a brilliant deal? Put the pressure back on them and say you are happy to have the survey done, you get a copy and they get a copy but they can pay for it, if you purchase the property you will reimburse them, either way cash buyer or not chances are there will be the requirement for a survey anyhow so they have it in hand should they want a quick cash sale as the agent is saying is on the table. I for one wouldnt trust a word out of an estate agents mouth, i have put offers in to be told no there is one the same or in a better position you need to go higher for me to say no not interested, more often than not they have come back and said X or Y has pulled out you can have it for your original offer, it makes wonder if there were ever any other buyers. i assume they dont want to be hanging around in a protracted chain or waiting for a sale on your property and are basically looking for a 'cash sale' as in cash at the bank or house sold ready to go, not many people with surplus funds like that or a confirmed sale and no where to go Edited October 17, 2017 by ph5172 Quote Link to comment Share on other sites More sharing options...
leeds chimp Posted October 17, 2017 Author Report Share Posted October 17, 2017 We are in a special position of the houses get snapped up when the come available... Next door was put on the market on Saturday... 4 viewing and sold on Wednesday..... Just want to know where i stand and the truth Quote Link to comment Share on other sites More sharing options...
Jaymo Posted October 17, 2017 Report Share Posted October 17, 2017 It’s frustrating as hell- some of its is probably from the EA themselves offering ‘advice’ to the Vendor, other times it seems the Vendors have been watching too many ‘escape to the country’ programmes and think they can put in place whatever terms they wish. We recently viewed a place north of Norwich, liked it but it’s not been touched for forty years Made our position clear and what I thought the place was worth to us and that in my opinion the market has overpriced itself and is heading for an adjustment. EA said “no no, this area is always increasing and the vendor has already had offers far in excess of what we were proposing”. Funny then that two weeks later the same house is now priced at £10000 less and still not sold a month later But........ as your not officially in a position to proceed ( very well and good saying your place will sell in a week but what if it doesn’t!) I can understand their wishes to see how your positioned- no one likes a time waster and house selling is notoriously stressful as it is without being strung along- I lost three house in a row , twice on supposed day of exchange/completion. In France where we were living it’s not unheard of due to the different way sales are conducted to ask for proof of income/expenditure, even from people wishing to enter into rental agreements But good luck with it and may I ask where about, via pm if you wish Wasn’t on Brunswick road by any chance? Quote Link to comment Share on other sites More sharing options...
al4x Posted October 17, 2017 Report Share Posted October 17, 2017 Personally as a seller I wouldn't accept your offer till yours was on the market and you had a buyer. I would also want the agent to make sure you had the funds as there are loads of dreamers out there. You are confident of selling but proof is in the pudding Quote Link to comment Share on other sites More sharing options...
leeds chimp Posted October 17, 2017 Author Report Share Posted October 17, 2017 Personally as a seller I wouldn't accept your offer till yours was on the market and you had a buyer. I would also want the agent to make sure you had the funds as there are loads of dreamers out there. You are confident of selling but proof is in the puddingI just don't want to spend £800+ on valuation reports and the home buyer pack for him to them turn round and sell to someone else and then mess the buyer of ours round Quote Link to comment Share on other sites More sharing options...
AVB Posted October 17, 2017 Report Share Posted October 17, 2017 I just don't want to spend £800+ on valuation reports and the home buyer pack for him to them turn round and sell to someone else and then mess the buyer of ours round You dont need to spend a penny. Getting an offer on your house doesnt involve you spending money. Then you go start the process of buying. At that point when your offer is accepted, albeit in principle, you will need to fork out for surveys etc. Quote Link to comment Share on other sites More sharing options...
kingo15 Posted October 17, 2017 Report Share Posted October 17, 2017 I just don't want to spend £800+ on valuation reports and the home buyer pack for him to them turn round and sell to someone else and then mess the buyer of ours round Im confused about what is going on here. You need to sell your house first. Then make him an offer closer to the asking price. He agrees. Then you go through the process of doing the rest that goes with. Iirc isnt there something in place to do with prove of affordability. Quote Link to comment Share on other sites More sharing options...
Hamster Posted October 18, 2017 Report Share Posted October 18, 2017 Personally as a seller I wouldn't accept your offer till yours was on the market and you had a buyer. I would also want the agent to make sure you had the funds as there are loads of dreamers out there. You are confident of selling but proof is in the pudding Same here, why should the seller assume you'll be able to sell your house as quickly as you claim ? Regarding the price if you really want it you have to pay the asking price. Quote Link to comment Share on other sites More sharing options...
Cosd Posted October 18, 2017 Report Share Posted October 18, 2017 (edited) Not sure the EA has done anything wrong and I wouldnt advise negotiating directly either. Firstly EAs dont like that and you want them on your side and secondly you have no idea how the seller will take you knocking on the door uninvited. Get your house one the market. Only once you have a buyer will you know your exact situation once you have a view of the complete chain. And regards next door, it didnt sell after five days, an offer was made and accepted. Theres a whole load to get done before that House is sold, and every situation is different. Edited October 18, 2017 by Cosd Quote Link to comment Share on other sites More sharing options...
ph5172 Posted October 18, 2017 Report Share Posted October 18, 2017 (edited) I have been on both sides, I made an offer on a rural house that that had fallen through and the vendors already had a place on the coast lined up, funnily enough the agents selling that were the ones that were selling ours. They had informed the vendors that ours should sell in a matter of days (they had been shifting quickly in the months and weeks proceeding) and 4 or so had gone in less than 2 days, well 2 months later and ours was still there, no difference in price or fixtures it just sat. The vendors had another offer after accepting viewings on the property and accepted an offer that week. Low and behold we had a few offers some well above our asking price a few weeks later and they began selling like hotcakes again. I have also been the one waiting in a long chain for the reverse of the above and there is only so long you can wait as everyone is in the same boat. I did loose a complete legal pack and survey fees on a house not so long back when the vendor couldn't proceed with their purchase..... most annoying..... and expensive The housing market is a random beast Edited October 18, 2017 by ph5172 Quote Link to comment Share on other sites More sharing options...
Muddy Funker Posted October 18, 2017 Report Share Posted October 18, 2017 Went to view a property on Saturday and liked it... The vendors were in too so had a good chat and got a feeling for them and the place.... And told them our situation.. (place will sell within a week ) Put an offer in Monday morning which I thought was OK and only came back tonight to say no... Uped the offer and can back in 20 mins saying no... EA said they already have a cash offer from a few weeks ago that they are sitting on and my offer (it seems ) is higher ... Then he said I need to get alot closer to the asking figure.... Then he said the vendor wants me to put ours on the market and have a sale in place and also go in to see their mortgage advisor to prove I have the funds etc?? Said not happy forking out for surveys and valuation reports without a firm offer to buy.... EA said thats what the vendor wants... Felt really pressured to some extent Tempted to go round and just ask the vendor what he wants and asks for face to face.... Or is that not really the done way? I'd do that mate. Or if possible a phone call. We're in the process of buying a place in Scotland. Sadly the seller changed from a local solicitor to some bunch of clowns in Manchester (express) they've been nothing but hassle to the point we've just been thrashing everything out with the sellers direct, offer, white goods ect. Express are nothing but liars, saying they've got other viewings and interested parties ect no doubt to try and have us panic and put in higher offers. So we phone up seller to be told no no one else has been round. Complete jokers. Quote Link to comment Share on other sites More sharing options...
leeds chimp Posted October 18, 2017 Author Report Share Posted October 18, 2017 (edited) You dont need to spend a penny. Getting an offer on your house doesnt involve you spending money. Then you go start the process of buying. At that point when your offer is accepted, albeit in principle, you will need to fork out for surveys etc. part of the scheme we are on means i have to get a rics approved surveyors to just get the valuation...which means a cost of £200+ for that alone... Not sure the EA has done anything wrong and I wouldnt advise negotiating directly either. Firstly EAs dont like that and you want them on your side and secondly you have no idea how the seller will take you knocking on the door uninvited. Get your house one the market. Only once you have a buyer will you know your exact situation once you have a view of the complete chain. And regards next door, it didnt sell after five days, an offer was made and accepted. Theres a whole load to get done before that House is sold, and every situation is different. next door (which is the same as ours) was put on the market on Saturday...4 viewing and 2 offers on Wednesday and completed within 4 weeks....same with the previous sale as they dont come up for sale. Also we dont want to mess other people round as we only actually decided to move when we went round to look at this other property...I dont want to put ours on the market and then have the other person waiting months etc while we look for somewhere if this dont go thru I'd do that mate. Or if possible a phone call. We're in the process of buying a place in Scotland. Sadly the seller changed from a local solicitor to some bunch of clowns in Manchester (express) they've been nothing but hassle to the point we've just been thrashing everything out with the sellers direct, offer, white goods ect. Express are nothing but liars, saying they've got other viewings and interested parties ect no doubt to try and have us panic and put in higher offers. So we phone up seller to be told no no one else has been round. Complete jokers. Just want to know as the EA has told me the opposite of what the vendor said on Saturday .... Edited October 18, 2017 by leeds chimp Quote Link to comment Share on other sites More sharing options...
leeds chimp Posted October 18, 2017 Author Report Share Posted October 18, 2017 Same here, why should the seller assume you'll be able to sell your house as quickly as you claim ? Regarding the price if you really want it you have to pay the asking price. as the scheme we ae on means people get a bargain..they go on sale 25% less than the current market value..... Im confused about what is going on here. You need to sell your house first. Then make him an offer closer to the asking price. He agrees. Then you go through the process of doing the rest that goes with. Iirc isnt there something in place to do with prove of affordability. thats what i thought...why do I need to go in and see THEIR mortgage advisor?? Quote Link to comment Share on other sites More sharing options...
Twistedsanity Posted October 18, 2017 Report Share Posted October 18, 2017 Estate agents are like politicians in that they all talk out of their chocolate starfish ours did nothing but lie all the way through the process as their buyer who had nothing to sell delayed the entire process by six months... because he was waiting to sell a property to get the deposit money, If you want it offer the asking price directly to the seller Quote Link to comment Share on other sites More sharing options...
Dougy Posted October 18, 2017 Report Share Posted October 18, 2017 If you have the funds to buy without selling your property then OK,( you will still need to prove to the agents though that you have the cash) (Oh ! and be asked a few questions regarding how the money was obtained, all to do with people laundering money) If you dont have the funds, then your offer is not much more than a few words, I could offer to buy your property, and why not sounds like a nice popular area. But wouldnt you like to know that i actually have the funds to buy your property and not just be dreaming. ( people do that you know) I could string you along right up the day of signing the contract, and then you are shot down in flames when you find out i cant really afford anywhere near your asking price. I really dont see the problem. If you really dont like estate agents then dont use them. Not sure how your going to find out who's selling what house, and will you try and sell your house on here, or maybe Gum Tree. Quote Link to comment Share on other sites More sharing options...
Mice! Posted October 18, 2017 Report Share Posted October 18, 2017 We sold our last house with a home made sign, it hadn't sold previous so was rented, then two others went up for sale as ours was going back on the market, think folk saw the others and ours so got in touch, all three sold within 6weeks, very strange the housing market. I can fully understand the seller wanting to know your in position to buy, but I wouldn't be paying out for surveys until your offer has been expected, and if they have a cash offer there just sitting on then something sounds odd. Quote Link to comment Share on other sites More sharing options...
leeds chimp Posted October 18, 2017 Author Report Share Posted October 18, 2017 I posted a note thru the door this morning asking him to ring me and deal direct and hear it from him what he wants and how to proceed.. If I put mine on the market I have to pay all the fees now up front to get the best deal.. Quote Link to comment Share on other sites More sharing options...
Jaymo Posted October 18, 2017 Report Share Posted October 18, 2017 LC Without being too nosy, what sort of deal/place are you in that has a 25% reduction in price and if you wish to sell that you have to pay the fees before you even sell? Quote Link to comment Share on other sites More sharing options...
Whitebridges Posted October 18, 2017 Report Share Posted October 18, 2017 I thought you were staying put Chimp and building a man cave? Have things moved on? Best of luck BTW Quote Link to comment Share on other sites More sharing options...
leeds chimp Posted October 19, 2017 Author Report Share Posted October 19, 2017 I thought you were staying put Chimp and building a man cave? Have things moved on? Best of luck BTW Was not looking to move at all but then got nagged into viewing this property and now thinking of moving Quote Link to comment Share on other sites More sharing options...
Whitebridges Posted October 19, 2017 Report Share Posted October 19, 2017 Was not looking to move at all but then got nagged into viewing this property and now thinking of moving No harm in looking, keep your options open. Quote Link to comment Share on other sites More sharing options...
Cosd Posted October 20, 2017 Report Share Posted October 20, 2017 Estate agents are like politicians in that they all talk out of their chocolate starfish ours did nothing but lie all the way through the process as their buyer who had nothing to sell delayed the entire process by six months... because he was waiting to sell a property to get the deposit money, If you want it offer the asking price directly to the seller The seller would still be liable to pay all the Estate agents fees even if Chimp goes direct. Handling your own sale is like a can of worms!! Estate agents get a let of deserved stick, but equally both buyers and sellers are often just as scrupulous!! Quote Link to comment Share on other sites More sharing options...
cromwell7 Posted October 20, 2017 Report Share Posted October 20, 2017 When I was selling my place I wouldnt even go and view houses until I was proceedable, Just because your neighbour sold his house quickly doesnt mean the same will happen for you. Some people dont even take viewings from people that arent proceedable. Unless you have cash ready or have sold your house your offer doesnt have any substance especially if the vendor is looking to move on quickly. Quote Link to comment Share on other sites More sharing options...
ferguson_tom Posted October 20, 2017 Report Share Posted October 20, 2017 (edited) Sorry chimp but until your house sells your offer isnt worth the paper its written on. You need to get it on the market and get a buyer in place, if for any reason you decide not to go ahead with the purchase and stay where you are then so be it. The estate agent cant demand you use their mortgage adviser but you can use your own independent adviser who can then speak to the estate agent after they have checked affordability and how much you can borrow, the seller could demand to see an agreement in principle but this is quite rare. The EA does sound like he is being a bit funny though. I think you are being too nice not wanting to mess anyone around by getting everything in place before you put the offer in, it doesn't work that way you put the offer in first then get the surveys done. If something then comes up in the surveys you either reduce your offer accordingly or pull out completely. Up until the point of contract exchange no one has any obligation to go through with the sale or purchase. Your buyer will be disappointed but this happens all the time and its not your problem. Dont worry about the other people, i know it sounds harsh but you just have to assume everyone (seller, buyer, EA, surveyor, all solicitors) is an a....hole and treat them accordingly. When it comes to buying houses even the nicest most honest people can become ruthless *****. Edited October 20, 2017 by ferguson_tom Quote Link to comment Share on other sites More sharing options...
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