Been thinking of putting an offer in on a place I like for the past week or so.

Its been on the market a while and the estate agent has been on the phone every other day saying I’ll miss out if I don’t offer. Called Friday to say more viewing this weekend and it will go soon etc. etc.

No surprises, they call me today and say they have an offer now and would I also like to offer. Smells a bit fishy to me, think they are just trying to winkle an offer, but of course can’t be 100% sure.

So anyone got any tips for beating these guys at their own game and maybe trying to find out if this is a real or a made up offer?

Surely you offer what you are prepared to pay for the house and if the vendor says no you look for another property? I’ve no doubt the EA is trying to start a bidding war as it’s in his interest to.

^that

Same happened with me, offered what it was worth to me. Vendor declined my offer. Moved on, continued to look at other places. 4 weeks later agent was back on the phone saying vendor would like to go with my original offer. Bought the place. Happy days 🙂

Ask the agent, what the other offer was and then offer less, stating your offer is real.

😉

one of those there job is to get the most money possible

Got involved in a bidding war and was asked for a final offer
I did this and they said the bids were so close they would ask for another

I then offered 5 k less than the original last offer.

House was still for sale 3 months later.

Personally I would not believe a word they say.

Had something similar, house up for sale for 12 months with little interest. I put an offer in and they had another offer the same day, thought it was bs until I lost the house after reaching what I was prepared to pay for it.

Turned out to be a ‘cash buyer’ who underbid us by 20k but still got the house. Not sure what, but something wasn’t right about the whole thing.

I already witnessed some slightly dodgy antics from this estate agent a few months ago, so I certainly think they are capable of making up bogus offers. I guess there is no way to find out.

Was thinking of going in with a sale price -10% but now I’m concerned if there is another offer I could miss out, but don’t want to be duped into a higher offer if it isn’t real.

I reckon your best bet is to not offer at all, but tell the EA that you may be interested and ask them to get back to you if/when the other buyer falls through. Bidding against someone is bad enough, bidding against an invention is even worse…

Offer what you think it’s worth. Tell the agent it’s your best and final offer. If they say they have a better offer tell them you’ll leave your offer with them, just in case, but ask them what else they have available.
Don’t try and outthink them; they do this every day.

I have also learned to be utterly direct and clear with agents and vendors or buyers.

Just tell them what you think it’s worth. Tell them you expect it to be communicated to vendor. Ask for email, and make sure they know you have mortgage in place and fees and solicitor lined up etc, email thrm proof of it all, tell them when you want to move etc.

I also learned to tell agents to do one during this latest purchase…..

Contact the actual property owner. Just say you want to make sure your bid has been passed on to them, as an estate agent has let you down before. Fair chance they will give some useful comments about your bit or others,

A family member found out this way that her estate agent was not passing on bids – in order to sell her house cheap to his builder mate, the ‘only’ person to have made an offer on the property, or so the agent had claimed….

Surely you offer what you are prepared to pay for the house and if the vendor says no you look for another property? I’ve no doubt the EA is trying to start a bidding war as it’s in his interest to.

EA is employed by the Vendor to achieve the best price for them. Offer what you think it’s worth and move on if it’s not enough.

A family member found out this way that her estate agent was not passing on bids – in order to sell her house cheap to his builder mate, the ‘only’ person to have made an offer on the property, or so the agent had claimed….

I’ve been reliably informed that this goes on all the time.

The builder mate estate agent fraud is pretty common I suspect. Happened to me and witnessed it in action. Was looking at house details EA shop, listened to the dodgy EA telling a couple that particular house was now not available. They left, few mins later house owner walks in to be told there was no interest in their house. Some “smarmy git” (me) with an axe to grind points out that an interested couple just left. I felt quite satisfied but it did make our house purchase via same EA tense.

Call their bluff. Don’t offer more than you would have, and end up paying more than you should !

I am so pleased I bought our house from some acquaintances without going through an EA.
The more I hear and know about them, the less I want to have to deal with them.