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Estate agent tactics

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    #92
    Askthe EA
    Registered Users Posts: 724 ✭✭✭Askthe EA


    Askthe EA wrote: »
    qrx wrote: »

    More likely she wants to discuss matters off the record.

    Hah.. poor choice of words to be fair!


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    #93
    CorkBob
    Registered Users Posts: 6 ✭CorkBob


    Hello, I'm a bit late to the party but found the thread and even after posting with a different title I'd love to hear peoples take on my current situation. Sorry I don't mean to hi-jack.
    The short version is; I viewed a derelict property (with quite a bit of work to do to it) that was affordable for me to buy in cash. I offered less than the asking, it was refused. I offered again, refused, so I then offered the asking price. The last phone call I had with EA was them telling me that that vendor thought it was now worth more than the asking price and they have hiked the asking price by 40%. I was told there was alot of interest so they expect it make this new price. However I was never told at any point that ANYONE else was bidding. Each time we spoke of whether the bid was accepted I was told my bid was the highest and nobody else had bid it was simply that the offer was not accepted. Alot of interest to me would suggest people were bidding, not just calling up inquiring about it? 
    Whats the story here? Was the asking price just a hoax to get people interested? 
    Was I too keen and they expect me offered this new price? (this is probably the case but I can't afford it so I'm out anyway)
    Is this common practice?
    I too am a sole purchaser so do I need to re-think what I want or what I should view in the future if advertised asking prices can suddenly jump by 40% ??
    Very disheartened


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    #94
    Pkiernan
    Registered Users Posts: 4,310 ✭✭✭Pkiernan


    The seller is trying to get more money.
    That's all.

    There is no conspiracy or far right Templar Knights setting prices to screw the proletariat.

    Just some bloke trying to get more money for his house.


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    #95
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    Always work under the assumption, if you feel it is reasonably priced, and you want it, then there is a high probability that others will feel the same. There are very few properties on sale today where there will only be one bidder. The vendor now knows something they didn't know when the property went on sale, there is a lot of interest and bidders are willing to pay more than he/she first thought, he/she understandably, wants to get the maximum price the market is willing to pay. Now you are in a bidding contest, set your max price and stick to it, what ever will be will be.


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    #96
    spaceHopper
    Registered Users Posts: 3,992 ✭✭✭spaceHopper


    If the property is empty it's probably a probate sale with a number of siblings involved. Find out what you can about the place and the seller. If you really want it I'd arrange for another viewing, that way you get to see the EA face to face. If you don't think it's worth the money tell the EA you think the vendor is wrong and he's not going to sell it, the price and tactics will put people off. Best case nobody else is viewing and you can challenge the EA that you are the only person interested.

    Also I dublin building rates have gone up alot. A job which was costing 70K is now 100+ so price that into your offer. Don't be afraid to lower your offer then go out and keep looking. Leave it sit with the EA (who only gets paid if it sells) and vendor, they may come back to you after Christmas


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    #97
    1641
    Registered Users Posts: 1,269 ✭✭✭1641


    CorkBob - You never know what may be going on. Another possibility is that the vendor is being put under pressure to sell by a creditor but would really prefer not to. Upping the price may be a way of encouraging you to go away.If this is the case, you are probably wasting your time.

    Or they may just want more. Can you do any local background research?

    The bottom line is you deciding what it is worth to you.


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    #98
    Cuddlesworth
    Registered Users Posts: 13,995 ✭✭✭✭Cuddlesworth


    CorkBob wrote: »
    Hello, I'm a bit late to the party but found the thread and even after posting with a different title I'd love to hear peoples take on my current situation. Sorry I don't mean to hi-jack.
    The short version is; I viewed a derelict property (with quite a bit of work to do to it) that was affordable for me to buy in cash. I offered less than the asking, it was refused. I offered again, refused, so I then offered the asking price. The last phone call I had with EA was them telling me that that vendor thought it was now worth more than the asking price and they have hiked the asking price by 40%. I was told there was alot of interest so they expect it make this new price. However I was never told at any point that ANYONE else was bidding. Each time we spoke of whether the bid was accepted I was told my bid was the highest and nobody else had bid it was simply that the offer was not accepted. Alot of interest to me would suggest people were bidding, not just calling up inquiring about it? 
    Whats the story here? Was the asking price just a hoax to get people interested? 
    Was I too keen and they expect me offered this new price? (this is probably the case but I can't afford it so I'm out anyway)
    Is this common practice?
    I too am a sole purchaser so do I need to re-think what I want or what I should view in the future if advertised asking prices can suddenly jump by 40% ??
    Very disheartened

    Maybe you should stop bidding against yourself.


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    #99
    CZ 453
    Registered Users Posts: 1,730 ✭✭✭CZ 453


    CorkBob wrote: »
    Hello, I'm a bit late to the party but found the thread and even after posting with a different title I'd love to hear peoples take on my current situation. Sorry I don't mean to hi-jack.
    The short version is; I viewed a derelict property (with quite a bit of work to do to it) that was affordable for me to buy in cash. I offered less than the asking, it was refused. I offered again, refused, so I then offered the asking price. The last phone call I had with EA was them telling me that that vendor thought it was now worth more than the asking price and they have hiked the asking price by 40%. I was told there was alot of interest so they expect it make this new price. However I was never told at any point that ANYONE else was bidding. Each time we spoke of whether the bid was accepted I was told my bid was the highest and nobody else had bid it was simply that the offer was not accepted. Alot of interest to me would suggest people were bidding, not just calling up inquiring about it? 
    Whats the story here? Was the asking price just a hoax to get people interested? 
    Was I too keen and they expect me offered this new price? (this is probably the case but I can't afford it so I'm out anyway)
    Is this common practice?
    I too am a sole purchaser so do I need to re-think what I want or what I should view in the future if advertised asking prices can suddenly jump by 40% ??
    Very disheartened

    Asking prices are just to get the ball rolling these days. A start up for a bidding war.


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