Is estate agent screwing me?

cold_filter

Ok here's whats happened so far, myself and the gf seen a house we like it and we want it, we were positive about the house but not overly enthusiastic.

Went to see it a couple of times in about a week and a half asking price is X amount, from speaking with the agent i kinda got the impression that bidding X amount would make it ours, so we made 2 bids under the asking price not muc shock they were rejected so made a bid on the button X. Estate agent rang me back a while later and says the seller now wants X amount and another 10-15 K, at this point we are the only bidders, also the estate agent would only make an extra 100E commis on this extra 10K say is he stiffing us?

eirmail

Tell him you don't have an extra 10K. Also say that you will be be down another 10K in 2 weeks when interest rates rise.
That will learn him!!

miju

he's very obviously trying to gazump you , DON'T fall for it

stick with your original offer that you put in at asking price and don't move an inch no matter how much you want to , theres literally thousands of properties on the market and more and more are coming on the market each day so dont let your heart rule your head

slightly off topic but prices have begun to fall / level off (depending on who you talk to) and the EA's know this so it's funny (in a weird way) to see them still try this tactic

anyways , bottom line stick to your guns and dont let yourself get gazumped

tHE vAGGABOND

estate agents are scum tbh

Im being messed around by two different agents, with different properties - playing games with me. Just stick to your guns and walk away, its a bit of a buyers market with all the places on the market IMHO..

If someone wants to pay 15 grand more let them, but I bet a brand new donkey its the agent being a ****, cos what real person would ask for that much more or out bid you by that much more when the place had been on the market for a while..

cold_filter

Cheers lads, im with you and i dont really want to part with another 10k but the gf has her heart set on this house, but i think we'll leave it as it has been on the market a while

Zambia

Mate I would put a time limit on your offer then walk away.

Say hear is the asking and if you dont accept by Friday me and my cash are walking.

Some people are clinging to last years prices the estate agent will want the sell.

Noelie

why not go to the owners of the house and see if they are looking for the extra 10K, if they are you know where you stand if they are not you know it's the agent doing it.

cold_filter

Im not sure who is trying to pull one on me, the agent says he wants to sell it asap and when he initiallly value the property before xmas it was 30-40k more than it is now, man i hate those f**kers, do i put in an offer now with the extra 10k, and get it or risk waiting and lose it, if that happens i think my gf will shoot me if that happens!

DonJose

Sit your GF down in front of a computer and show her the websites which are following house prices in Ireland, see link below. Looks like the sellers/estate agent can see you are really interested in the house and because of that they are raising the price. I'd hate to see you buy at €10k above market value and then see the house devalue by €20k+. I was following a house that dropped this week from €475k to €450k and still no takers.

http://irishhousepricesfalling.blogspot.com/

DonJose

Another thing, why not check daft.ie or myhome.ie and see if the house is listed, then check googles cache to see if same house has dropped in price and by how much.

miju

and if you dont know how to do it , PM me the daft link and i'll do it for ye , just to stick to the EA's

I swear to God that if you fall for the "but I have my heart set on it" youll live to regret it.

miju

and if you dont know how to do it , PM me the daft link and i'll do it for ye , just to stick to the EA's

cold_filter

similar thing is happening with my friend, a house he wants and his GF really wants is on the market for 395 but it will require a upgrade of electrics and pretty much a new interior throughout the whole house, the estate agent said it would be sold within a week, that was a month and a half ago, but he says the owner wont drop the price, probably because he knows they are pretty keen on it

eirmail

cold_filter wrote:

Im not sure who is trying to pull one on me, the agent says he wants to sell it asap and when he initiallly value the property before xmas it was 30-40k more than it is now, man i hate those f**kers, do i put in an offer now with the extra 10k, and get it or risk waiting and lose it, if that happens i think my gf will shoot me if that happens!

If your girlfriend would seriously shot you over this I have to advice forget about buying a house for the mean time. Maybe talk to a relationship counsellor?

smcelhinney

tHE vAGGABOND wrote:

estate agents are scum tbh

Im being messed around by two different agents, with different properties - playing games with me. Just stick to your guns and walk away, its a bit of a buyers market with all the places on the market IMHO..

If someone wants to pay 15 grand more let them, but I bet a brand new donkey its the agent being a ****, cos what real person would ask for that much more or out bid you by that much more when the place had been on the market for a while..

I'll take that brand new donkey, and raise you a well travelled llama..

But this is all very sound advice for me, a first time buyer on my way to my first meeting ever with a mortgage broker..

Thanks..

Zambia

cold_filter wrote:

Im not sure who is trying to pull one on me, the agent says he wants to sell it asap and when he initiallly value the property before xmas it was 30-40k more than it is now, man i hate those f**kers, do i put in an offer now with the extra 10k, and get it or risk waiting and lose it, if that happens i think my gf will shoot me if that happens!

stand by your offer and the estate agent will ring you if a higher offer comes along and ask do you want to top it wont he ?

Hagar

Is my estate agent screwing me?

Moved to Humour.

Of course he is and he is relying on your GF making sheep's eyes at you and then you thinking with your willy.

Sponge Bob

make another offer €5k below the last one and tell him you will revise downward if anything and in 2 weeks.

also tell him you are not chained, eg you do not have to sell first.

TheNog

Don't let the estate agent try to talk you up in price. We have an auctioneer selling a site for us since before Christmas and 2 weeks ago he said it was over-priced by 10k. We told him the price is to stay the same 'cos he valued it himself. We know he only wants a quick sale for his commission no matter what price it is sold at.

Auctioneers don't have the vendor's best interest at heart.

Sponge Bob

but what if he is right and its just that prices fell €10k recently , I would be more sure of an auctioneers who admits his mistakes than one who does not (most of them)

they act for the vendor but to get paid the damn thing needs to sell. Obviously.

pinkie1

Please do not fall this this EAs b******t. you will regret it i promise as i nearly feel fo it and i realised after i wold only have been bowng to pressure when i found a better place a few weeks later- i was only persuaded by my boyf - was cross with him @ time but thankful now anyway your girlf should understand it is a united decision.
Those people really are evil!

Pa ElGrande

In a response to the Prime Time programme on RTÉ that made allegations of widespread malpractice in the Irish property industry, Mr. Fintan McNamara, CEO, of the Institute of Professional Auctioneers and Valuers,pointed out that such "malpractice is, in fact, a rare occurrence in the Irish market"
So if the Estate Agent you are dealing with is a member of the IPAV or any other professional body and you have reason to believe you are being dealt with unethically please bring the matter to the attention of that organisation.
You could also raise the matter with Senator Shane Ross.

A more direct approach might be to have the estate agent ring the seller while you are face to face and inform them of your offer and its limits, if its been sitting there for months then the seller might be very interested to do a deal.
If you know who the seller is, then maybe you might approach them directly with an offer and cut out the EA.

cold_filter

Pa ElGrande wrote:

A more direct approach might be to have the estate agent ring the seller while you are face to face and inform them of your offer and its limits, if its been sitting there for months then the seller might be very interested to do a deal.
If you know who the seller is, then maybe you might approach them directly with an offer and cut out the EA.

I think that is a good idea a really good one, both of them!

suitseir

Hey I see you are online so I hope you read this. I am a senior negotiator in an Estate Agency, albeit, outside the pale, in fact down the country and what I would say is that YES, the Estate Agent would only make an extra couple of hundred Euro, even if the price increases by €20k. What most bidders forget is that it is the VENDORS who get greedy. That estate agent would have valued the property before putting it on the market, and in all fairness, a fair and reasonable market value has to be put in writing with an expected achievable price in the open market. Saying that, the vendor will always hope the bidders will bite more so I would say, not to bid any further, especially if you are the only bidders!!! Set yourself a limit and stick to it, good bad or indifferent. If this is house is not for you then it is all for luck! The market is changing rapidly and prices are settling! And with the onset of the General Election, any proposed change in stamp duty will put things in perspective!!! Best of luck!

cold_filter

Thanks suitseir, i am going to get a country friend of mine to ring the estate agent and try and suss him out as it were.
As you said if the price was even to go up by 20k he would only make an extra 20o euro profit and he has told me he really wants to sell it as the property is far away from the rest of his portfolio, ive checked his website so its a lot of hassle for him i think

miju

btw cold_filter forgot to say in that PM , asking prices in the area where that house is has been falling so bear that in mind and try to play a bit of hardball to stop either the EA or the vendor from acting the maggot

cold_filter

miju, i have notice that myself. One house we had our eye on went on sale at 317 it has been revised down to 305 k now