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A bit of guidance for dealing with estate agent

  • 23-02-2013 2:55pm
    #1
    volauvent
    Banned (with Prison Access) Posts: 35 ✭


    Hi. Just looking for a bit of guidance to make sure I'm not making mistakes.
    Put a bid on a house in scd- asking price 255. Put a bid of 225. It's a small 3 bed. (80m 2) in good enuf area.
    Had been a bid of 220 on it before that ac to ea. Ea rang me up last week( 5 days after I put my bid) and she said that the vendor had rejected my offer. I said ok and we left it there. I'm not sure where to go from here.
    I could offer 230 but want to do that at an appropriate time. Should I call and place a new bid of 230. Would they typically get back to me if another bid went on?
    There is another place I had my eye on. That vendor ( different ea) said its verbally agreed. It's still on web as for sale. I emailed him yesterday to ask if its sale agreed but he didn't reply.
    Should I pursue this or leave him reply.
    I know the answers to my questions are not black and white but maybe someone's experience can help me. Thanks.


Comments

  • #2
    ABajaninCork
    Closed Accounts Posts: 8,411 ✭✭✭ABajaninCork


    Any property is only worth what the buyer is willing to pay. If you think the house is worth 230k, then by all means go ahead and make a bid at that price.

    IMO, I would wait for the EA to get back to me. Plenty of other properties you can buy, so I'd keep looking in the meantime.


  • #3
    Galego
    Registered Users, Registered Users 2 Posts: 1,246 ✭✭✭Galego


    I agree with ABajaninCork, go ahead and place a 230k eur if you feel that it is worth to you.


  • #4
    volauvent
    Banned (with Prison Access) Posts: 35 ✭volauvent


    Thanks. I bid 3 k more today. The ea was very cool. Find it difficult dealing with them. It feels like a game of strategy.I'll let you know how it goes.


  • #5
    sunnysoutheast
    Registered Users, Registered Users 2 Posts: 2,072 ✭✭✭sunnysoutheast


    volauvent wrote: »
    Thanks. I bid 3 k more today. The ea was very cool. Find it difficult dealing with them. It feels like a game of strategy.I'll let you know how it goes.

    Make sure you put a time limit on any offers you make, with one follow-up call to the agent the day before it expires. If you start hearing about "other bidders" from them never be afraid to state that you are not prepared to go higher; if they do call you back then you know it was cobblers.

    Never forget that an estate agent only ever works for the seller's benefit and bear in mind many sellers have completely unrealistic emotional valuations of their houses based on the boom times.


  • #6
    D3PO
    Registered Users, Registered Users 2 Posts: 7,879 ✭✭✭D3PO


    sunnysoutheast wrote: »
    Make sure you put a time limit on any offers you make, with one follow-up call to the agent the day before it expires. If you start hearing about "other bidders" from them never be afraid to state that you are not prepared to go higher; if they do call you back then you know it was cobblers.

    Never forget that an estate agent only ever works for the seller's benefit and bear in mind many sellers have completely unrealistic emotional valuations of their houses based on the boom times.

    in fairness and you know how much I hate EA's this EA flat out told him the vendor rejected the bid, didnt try extract more by intimating higher bid made, but at the end of the day OP its worth what its worth to you jsut because they have a different valuation than you doesnt mean you should bid more.

    increase your bids if you think its worth it but set your max price and be prepared to walk away if you cant get it at that price.


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