Thread: Advice on house offer

I usually find that if I make and offer and the agent rejects it....I say 'thanks but that's it' and walk away. Most times they have come back and accepted my offer or I have only had to up it slightly.


Stick to your offer! Personally I think going down with the offer would put the vendor off dealing with you.

You may be right and agent didnt pass it on rather playing the game and hoping you put in a higher offer, stand your ground and risk missing out or up your offer slightly - in your court.

Originally Posted by Eevo

So my question is, is the agent playing games?

Probably

Originally Posted by Eevo

A guy at work suggested the agent didnt even present the offer.

I've experienced that before. The guy at work is probably right.

Originally Posted by Eevo

My uncle, who has bought, built and sold a few homes, says its been on the market for 4 months, and I should wait a week and make another offer but decrease the price by 5k and repeat week after week.

Good advice. You'll not be taken seriously again by that agent though.

Originally Posted by Eevo

Or have we reached an impass?

How much do you want the house? Up your offer or look elsewhere. Is it listed by another agent?

Having bought and sold a few homes over the years i have come to the conclusion that real estate agents are lower than car salesman
No offence to any members that are in either game
Honestly real estate agents are in it for them selves they will tell a seller or buyer they are working for them
I treat them all with contempt as they will lie to seller and buyer to get a sale so i call the shots my self
Stand by your offer there will be another house if this falls through

Originally Posted by Mick_Marsh

How much do you want the house? Up your offer or look elsewhere. Is it listed by another agent?

Well I like the house but I won't pay more than I think it's worth.
This is my first house and although I have an above average wage, I'm not going to go nuts on a first home but I don't want just any house.

I don't believe it's listed with another agent.

I forgot to mention, the owner has owned it for 15 years and has rented it out the whole time. They have not been able to rent it out for the last 9 months.

Is there a good way of asking how long can the owner sit with the house unsold and reinforce that houses usually sell In a much shorter time period, and if it hasn't sold, it's cause it's overpriced.

Originally Posted by Eevo

Back in december I found a house I like.
It had been on the market for 90 days. It already had 1 offer fall through due to finance.
It was advertised for 420-440
After consulting a few banks and a few people, I put in an offer of 380, mainly due to the house being below average condition.
I got a phone call to say a different offer was accepted a few hours before mine was submitted however my offer was in the ballpark.

Fast forward to this week, I get a call from the agent who said the contract fell through due to finance.

So I make another offer this morning for 375. I get a phone call to say my offer has been rejected and I need to be offering 420 and above. When questioning about being in the ball park, he claims I must of misheard him. I told the agent the property isnt worth that much and I won't be offering that amount.

So my question is, is the agent playing games? A guy at work suggested the agent didnt even present the offer.

My uncle, who has bought, built and sold a few homes, says its been on the market for 4 months, and I should wait a week and make another offer but decrease the price by 5k and repeat week after week.

Or have we reached an impass?

I made an offer to an agent who did not pass it on to the owner. The building sold for a lot less than my offer. I was away on the auction day. I found out who the owner was and told them. They do not love the agent

Originally Posted by Eevo

Well I like the house but I won't pay more than I think it's worth.

Move on.

Every now and then resubmit your offer verbally. Don't put the offer in writing unless you agree to the contract and put any conditions such as "subject to bank finance" on the offer. The written offer is as good as a contract.

After some time the agent may call you to ask if you are still interested and want to up your offer. Give him your contact details.

Originally Posted by Eevo

I forgot to mention, the owner has owned it for 15 years and has rented it out the whole time. They have not been able to rent it out for the last 9 months.

Is there a good way of asking how long can the owner sit with the house unsold and reinforce that houses usually sell In a much shorter time period, and if it hasn't sold, it's cause it's overpriced.

Irrelevant. You are allowed to own empty houses.

Originally Posted by NavyDiver

I made an offer to an agent who did not pass it on to the owner. The building sold for a lot less than my offer. I was away on the auction day. I found out who the owner was and told them. They do not love the agent

Same thing happened to me on a block of land. The property was listed with multiple agents. The agent I was dealing with refused to pass my offer on ( told me my offer was rejected ). An other agent passed on an offer that was $5k less than mine and got the commission.
Them's the breaks.