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What would you think??

  • 05-04-2015 9:48am
    #1
    lukesmom
    Registered Users, Registered Users 2 Posts: 4,400 ✭✭✭


    A couple I know well are interested in buying a bungalow that's up for €330k so last month they put an offer on the house of €275k and the estate agent replied that there had been a higher offer of €300k. The couple waited a few weeks and put in a higher offer of €304k and the EA replied 'thank you for your offer' and that was it. He didn't say there was a higher offer. Just wondering what that could mean???


Comments

  • #2
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,802 Mod ✭✭✭✭Gumbo


    lukesmom wrote: »
    A couple I know well are interested in buying a bungalow that's up for €330k so last month they put an offer on the house of €275k and the estate agent replied that there had been a higher offer of €300k. The couple waited a few weeks and put in a higher offer of €304k and the EA replied 'thank you for your offer' and that was it. He didn't say there was a higher offer. Just wondering what that could mean???

    What date did they put the 304k offer in?


  • #3
    Santa Cruz
    Banned (with Prison Access) Posts: 3,126 ✭✭✭Santa Cruz


    kceire wrote: »
    What date did they put the 304k offer in?

    This is typical of what EAs get up to. What the potential buyer should do is get a friend to view the property and see what line the agent is spinning. There is a lot to be said for having a registerof bids so people will know who is telling the truth


  • #4
    lukesmom
    Registered Users, Registered Users 2 Posts: 4,400 ✭✭✭lukesmom


    kceire wrote: »
    What date did they put the 304k offer in?

    About 2 weeks after the first offer the Friday before last.


  • #5
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,802 Mod ✭✭✭✭Gumbo


    lukesmom wrote: »
    About 2 weeks after the first offer the Friday before last.

    Is ring the EA back and tell them there's a limit on the time that you will wait. Your offer expires next Friday and let them know if the owner would like to deal.


  • #6
    foggy_lad
    Closed Accounts Posts: 20,373 ✭✭✭✭foggy_lad


    Ring them again with an offer of €285,000 and see what happens, tell them you are looking at another house in a different area for less so will only pay that much for location.


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  • #7
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    kceire wrote: »
    Is ring the EA back and tell them there's a limit on the time that you will wait. Your offer expires next Friday and let them know if the owner would like to deal.

    Do not do this. If you like the house, giving a deadline for your offer makes you look like an amateur unless you are 100% certain that you will walk away on that date, the EA will not take future bids from you on that or any other property seriously.


  • #8
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    foggy_lad wrote: »
    Ring them again with an offer of €285,000 and see what happens, tell them you are looking at another house in a different area for less so will only pay that much for location.

    So the vendor hasn't accepted an offer of 304k but you advise them to go back two weeks later with an offer of 285k, are you trolling?


  • #9
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,802 Mod ✭✭✭✭Gumbo


    davo10 wrote: »
    Do not do this. If you like the house, giving a deadline for your offer makes you look like an amateur unless you are 100% certain that you will walk away on that date, the EA will not take future bids from you on that or any other property seriously.

    This is also true. OP, tough position to be in. Do you really want the house?


  • #10
    CollyFlower
    Registered Users, Registered Users 2 Posts: 6,110 ✭✭✭CollyFlower


    Can you not approch the seller and ask them if the EA Passed on your bid to them?


  • #11
    Kettleson
    Closed Accounts Posts: 2,047 ✭✭✭Kettleson


    Do "they" really, "really" want this house? Will it suit them and their family needs?

    If so, I'd be telling them not to mess about trying to save 10 or 20K. Get them to put in a bid they can best afford and leave it.

    At the same time, I wouldn't pay much attention to these "other" offers. Until the deal has been done they mean nothing. if the house is what they want, tell them to put in their genuine best bid and see what happens.


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  • #12
    lukesmom
    Registered Users, Registered Users 2 Posts: 4,400 ✭✭✭lukesmom


    Kettleson wrote: »
    Do "they" really, "really" want this house? Will it suit them and their family needs?

    If so, I'd be telling them not to mess about trying to save 10 or 20K. Get them to put in a bid they can best afford and leave it.

    At the same time, I wouldn't pay much attention to these "other" offers. Until the deal has been done they mean nothing. if the house is what they want, tell them to put in their genuine best bid and see what happens.

    Yes it would mean downsizing from a very big house on 3/4 of an acre and as they are in their early 70's it would be perfect for them. They aren't necessarily messing about but one cannot shake off the idea that they could potentially be bidding against themselves either.


  • #13
    Kettleson
    Closed Accounts Posts: 2,047 ✭✭✭Kettleson


    Cash buyers? Then cash is King. But don't lose out on a house that suits their needs by trying to box clever and end up buying somewhere else for 20kless, but that they regret for the rest of their lives.

    And I'd say don't be pressurised by the EA talking about other bids/buyers. The ball is in the EA's court now.

    If the house suits them, advise them to identify the max they can afford. But start with a lower reasonble offer and wait. Which they have done. If they are not totally convinced that they want to buy this property, I'd keep looking elsewhere.

    I wouldn't put it past the EA anticipating what they have available and coming up with a bit of spin to get the max price.

    Be cautious, but don't lose out by being over-cautious. I admire your concern for them. Well done you : )


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