Buying A House ...

[FlickStar]

Hi folks,
just looking for a little advice. First time I have bought a house, and I am just trying to figure out the best approach.

We stupidly implied to the estate agent that we would pay asking price (as very popular location and lots of potential and houses usually sell in this location within 2 weeks so didn't want to wait around) Since then, obviously, the seller only wants asking price... tbh, we are prepared to pay it, so that's not the issue.

What I am concerned about is the estate agents telling us there 'loads' of other viewers 'and received other offers' is there a way of finding out if any of these are genuine or just sales pitch as we don't want to get into a bidding war.

[bednobs]

i dont think there is any way of telling. If it's a popular area and the market is buoyant, it's likely to be true though

[bednobs]

ps the other offers may have been from someone not in a good position, or under the asking price. I sold my house 19 months ago and we had loads of viewers booked in, and a fair ew ofers - in the first week we havd an offer for 10k above the asking price!

[murraymints]

rule 1 ..NEVER trust an estate agent to tell the truth! ..always make an offer beneath asking price especially if it has been on the market a while...

[bhg481]

Just bear in mind that the agent is working for the seller, so it's his job to get the best possible price. On top of that he's probably on commision, so that reinforces the need to get the highest price. Lying has never been a problem for most people selling anything.

[murraymints]

you can always revise offer if refused ! speak to seller directly face to face and ask outright what he would accept !

[murraymints]

I have circumnavigated Agent a few times when buying....and dealt directly with vendor..agents lie to both vendor and buyer in their own interests for commission !

[Peter Pedant]

that would private commercial information - covered by privity of contract and god knows what else

would you wish your bid to be touted around ?
( actually I wouldnt mind as I go to auctions a lot where one's bid....)

get on with getting an acceptance and then exchange contracts as soon as poss - very strict rules about NOT going thro once contracts have been exchanged.

[murraymints]

auction a good way to buy did so twice...no messing no time delay no gazumping !

[FlickStar]

The house is being sold by 3 people as part of a deceased estate.

They don't live at the property so I don't have a way of contacting them directly.

We tried to 'revise' our offer but they have said no to both other offers as will only accept asking price.

Do we call their bluff and wait it out - or do we just go with it and pay (as it's only a few thousand difference)

Also, I am in the proceeds of putting a long list of questions together for estate agent.... and thinking of asking them to throw in the furniture if not looking to reduce house price.

[murraymints]

depends how much you want the house....good move to ask for extras.it will save them disposing of chattels!

[woofgang]

How much do you want the house. If it is the house of your dreams and you will die of longing if you don’t buy it then cough up.....if not then not. Good idea about the furniture btw :)
If you really want to find out who owns the house, you might sleuth at the land registry....either the executor(s) will have changed the ownership there or you will see the name of the deceased owner and can then do a will search....not expensive to do if you can be bothered.

[DocHH]

As far as I am concerned any offer should be made "subject to survey"!

[woofgang]

good point, I kind of assumed that but yes, it should be made clear

[khaleesi]

how long has it been on the market? if it's been on over a month then I would say they should come down a bit, but if it's only just come on the market I think the sellers are right in asking for the asking price. I live in a desirable area and a house has just sold for 7k over the asking price a week after it was first listed. A good point that has already been raised is how much do you actually want it? and how would you feel if you loose out on it? Sometimes it is worth paying a little extra if you really want something, especially if you have you been looking for a house for a long time. I do feel for you though, buying a house is so stressful and it can be so hard to know what to do

[khaleesi]

sorry, just had a good idea. Why don't you get someone you know to view the house and make an offer below asking. That way you will know if the sellers really want asking, or are just saying it because you implied that you would pay that much.