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Wanting estate agent views on a house purchase?

We are looking to buy a house from the family of a friend who has died. We have been negotiating as a private buyer. They have had a number estate agents to value for probate and to sell in case it didn't work out with us. We have told recently that they want to put it on the market to see what it is worth as nothing comparable has sold recently. It's in a desirable location, but large and needs a full refurb. They have told the estate agents they have a private buyer (us) and if they sold to us they wouldn't pay them any fee's. Would we be better offering through the estate agent so there is a level playing field as feel vulnerable and in competition with an agent. I'm not sure we have much to gain by being a private buyer? We will be selling our property too and it could well be with the same agent. We think it will sell v quickly. Would this be difficult if we were still the private buyer for the other property. How would an agent feel? Can anyone advise what to do please?

Asked on Jan 15 2018, General in North West England | Report content

Answers (3)

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  • Hello - as the property needs a full refurb, I would imagine the number of potential buyers would decrease. Also, it's probably in her best interest to sell to you as she would avoid the estate agency fees. You should get other people's opinions but my suggestion would be to be patient, make sure you have your finances in place and maybe get in touch with her once she has put the property up on the market. I wouldn't offer through the estate agent unless you see that other potential buyers start to view the property. Again, please ask other people as I wouldn't want to scupper this for you! Best of luck

    Answered on Jan 16 2018, Report content
  • Sorry, just a thought - there may well be a lot of stress going on with the family so they may need some breathing space to figure things out in the best way.

    Answered on Jan 17 2018, Report content
  • As executors the family will have an obligation to obtain the best price. They have already made clear to the agent that they will not pay the agents fee if they accept your offer, because the agent has not introduced you as buyer. This might not apply if you chose to make an offer via the agent, so your advantage of not incurring the agent's fee is lost. The agent obviously will be out to get them a better price. As always, offer what the property is worth to you, not what you think it might be worth to some other buyer. If it sells for more than you offer be glad, your late friends family have done well and you have avoided paying more than you can afford.

    Answered on Jan 19 2018, Report content

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