asking around the office i'm now working in, it seems that Sheff has a system where instead of putting an asking price at the top of what you're expecting to get, people are putting down an asking price at the bottom of what they're expecting, and estate agents are expecting bids over the asking price to *start* with..

is this really the case round here ? am i stupid in looking for houses around 70k and putting in a bit of less than that, should i really be looking for properties of 62/63, and putting bids of 65-70 in ? what's going on ?

AJ

Yup, that's about the size of it. About 20% - 25% over is a good guide. At least now you know our secret eh ;)

when I bought my house it went 10k over the asking price, that was 1.5 years ago but it does still seem to be the trend..

but what's cauising this ? surely it isn't the actual value of the houses, is there some kind of cartel of estate agents manipulating the prices round here ?

Don't worry - it IS the actual value, we just have a different way of selling them here. You'll get used to it now you know.

It does seem a bit odd at first. As first-time buyers last year this took us a bit by surprise. We put several good offers in on several houses before realising that we needed to be looking at houses with asking prices 15-20% below our max budget to even stand a chance!

It wasn't all bad though - we saw one particular house the night before "best and final sealed bids" (btw - that's another estate agent CON) and loved it. We were first time buyers, both working, ready to move at drop of hat, mortgage offer in principle from lender, solicitor in place. The vendors rejected our offer for one that was £500 higher and the buyers weren't in as good a position as us. We couldn't help smiling a fortnight later when asked by the slimy estate agent if we were still interested - the sale had fallen through!

Trouble was, we'd already found somewhere better and had the offer accepted.

It gets very demoralising and depressing hunting for houses and having offers rejected. My advice is to keep your chin up, ask the estate agent for advice on what will go for a price within your budget and give consideration to other areas of the city you hadn't previously thought about - see how far your money will go elsewhere (can be quite enlightening!). Keep plugging away!

Oh, and if spending endless evenings/weekends trudging round house after house is getting you down, try and have an aim of maybe going out for a meal near where you've been looking afterwards.

Originally posted by Tony
Yup, that's about the size of it. About 20% - 25% over is a good guide. At least now you know our secret eh ;)

I take it that you are in the estate agency business then?

Nope, but I do buy and sell a lot of property :)

Poor Hotphil. It's not just a matter of 500 quid. I've rented here before, so have several mates in Sheff. When decided to come back and buy said friends gave me a bizarre bit of advice about final offers. "Offer an extra fifty quid," he said. "That'll often swing it." So we found our dream home at 92.5 grand, and decided it was worth 100-105. Feeling confident I rang in with a final bid of 101,000. Couldn't bring myself to add the 50 nicker, so made it 101,100. I still felt a proper berk reading the figure out. But guess what? We got the house. Now I know that thing about Yorks types being a bit tight is just a stereotype, but still...

Actually, the vendor was Liverpudlian. Ho hum.

What? - 20% over?? i've seen a house on with blundells 29 hunter hill road - no! that mean it'll sell at 167k ?? - is this a common thing..ps i have a nice flat for sale if anyones interested!

(i'm new to posting here - did tubs do good?)

It seems that now offers are on the slide this luxurious way of doing business will have to go if the "cartel" is to stay in business. I know three developers who just laughed when I called them up to ask them about this.

One simply said that it was due to Sheffield people being stupid enough to put up with it and told me that it was all fixed! Can't and won't go into detail so don't ask. (Got into trouble for that from the mods b4 and I don't want to upset people)

Another, who will remain nameless, refuses to do any more business (property developing I assumed) in our city because he reckons it's like "betting on a dead champion". He said "sell up now while you got the chance, rent for a bit and make a killing next year, but for god's sake don't buy. And if you do definitely offer much LESS than the asking price." !!!

Now this guy is someone I respect 'cause he's a serious developer type and really knows what he’s on about. I’m seriously tempted to take his advice.

only trouble with offering less is that everyone else is still offering more...

I have to completely disagree with you Mr_E.

Newbuilds have always been sold at the asking price, never above, so it's hardly valid to lump them in with the stuff in the property guide.

Forward buying apartments is still VERY strong and healthy. There is far more demand than supply at the moment.

Remember... rule number 1 with property... BUY IT NOW.

It never gets cheaper, and in 12 months you will always look back and say "crikey, remember how much we paid for ours... have you seen how much they have gone up?"

Let them come a croppa then. (My speculation only, that bit.)
However for me the advice looks like this:
Go on... take a risk... go on then... do it if you dare.
Personally I only bet a little, occasionally. I certainly wouldn't bet £20,000 or so extra on something when there's a greater than ever chance that the bubble will bust - if that is what expert advisers have told me is happening.
These advisers being consummate property buyers, not agents, are people I'm certainly prepared to listening to.

Tony’s advice is sound advice in a normal market place.

But Tony is presenting a slightly different argument. Sold at the asking price is the expected term of business- it represents a true value as opposed to forced perception of value or increasing market value.
I’ve given this a bit of thought this afternoon, I’ll put it in oversimplified terms, not to be patronizing, but so not to go on too long.
Market values should be determined by what people are prepared to pay and not influenced by the fear of being beaten. Some agents operate in Sheffield and exploit this fear to increase their profits.

It’s like the bloke in a car park trying to sell watches. They're usually cheap watches dressed up with shiny bits.
“Go on then, make me an offer.” The dealer says.
The punter, if he wants to buy, offers too much in case a lower offer isn’t enough. We all know that the dealer will never agree to an offer that makes a loss, giving him an unfair advantage.

This form of business has never been acceptable amongst the professionals, nor to trading standards, so why now, with homes and big sums of money, is it acceptable in Sheffield and nowhere else? It’s gazumping by default and encouraged by the agencies!

You don’t go into a shop and read a label that says “Go on then, take me to the counter and make an offer" only to find, when you do, that the shop keeper shouts “Will anyone offer me more than £45 for this t-shirt?” If you are bidding, then it is an auction, if that’s how you want to buy then go to an auction and get a property at its real value.

It is a dubious practice, however you look at it. But I'm willing to stand corrected if someone can give me a reason that this is a fair way of doing business. (And yes, business has to be fairish or it will eventaully stand still.)

I don't think that anyone is saying that it is fair or not fair ... to be fair ;)

However, it's how it's been done in Sheffield for as long as anyone can remember. It just looks a bit strange from the outside, but around here it's perfectly normal, and as such, then yes, I suppose it's fair.

Look at it this way; it's not that properties are selling for especially high prices, because compared to almost everywhere else, and certainly compared to every other large city, Sheffield is very cheap.

The bidding system that looks strange, but the final contract prices are just fine, otherwise they wouldn't value up for mortgages.

I don' think it has anything to do with agents profits, or any other nefarious suggestion. It's just how it is around these parts (Tony says in best yokel accent).

It may be unusual and I can't say that it's fair but when you're buying a property it does give you the reassurance that when you come to sell then there are people out there willing to buy it. Assuming that there were other bidders, that is. In a sealed bid system you may never find out if there were any others interested or even if they bid any where near your price.

My tuppenth worth.

So no one would object if I set up business on Ecky Rd and did it the usual way with the advertising slogan...

Mr E State Agents-
We sell houses the normal way. :D

I have to say, I don't like the smell of thelocal housing market any more. having to battle for a house is not my idea of fun, and if it's just the local estate agents deliberately causing this kind of squabbling over house prices (a colleague of mine was laughed at when he offered the asking price on one property recently) then it really, really stinks.

if i see a house at £69,950, then i'd like to be able to offer that, and have a half decent chance of being accepted, rather than being told that the vendor "would like to make more than 72". well if he wanted 72, he should have bloody well asked for 72 shouldn't he.

Some interesting reading re: this thread.....


http://www.sheffieldtoday.net/ViewArticle2.aspx?SectionID=58&ArticleID=846494

Yeah, we thought it was ridiculous as well... and very confusing for newcomers. The system here is very different from that of Canada's - there the estate agents are expected to romance you - meaning drive you around to look at all the houses, give you gift certificates for your birthdays and so on. It's a very personalized industry, and it can be great fun if you're buying. Or just want to look around for fun :) The person that is selling, on the other hand, pays a lot to have the agent sell their house.

It sounds like it may be OK for those familiar with the system, and Sheffield, but if you are moving to the town it appears quite dangerous.

I'm looking to move into Sheffield and buy, but this culture or bidding could mean that I'll accidently overpay and then eventualy sell to sombody who won't. It also fules the risk that you go through negotiations and then the mortgage lender refuses because the survey doesn't support the cost.

This over-offering stratagy is very new to me. What is the usual stratagy. Initialy offer the asking price? Offer +10%?

If you do, does the estate agent just call you back and ask you to offer more, and more...?

Sheffield is one of the worst cities in the country for bad estate agent practice, we are working to improve this situation there are other options now available. you can email me caron@2roost.com for more info.

Originally posted by Caronp
Sheffield is one of the worst cities in the country for bad estate agent practice,[/email] for more info.

Wow, that's pretty tough talking. What do you have to back up your assertion? I'd far rather have the bidding system we have here than sticking a random bid into an envelope in the hopes that the estate agent is honest enough to tell the vendor of all the bids and not just his friends'.

[pedantry alert]Agents have a practice from which they practise their profession[/alert]

Originally posted by Caronp
Sheffield is one of the worst cities in the country for bad estate agent practice, we are working to improve this situation there are other options now available. you can email me caron@2roost.com for more info.

How many more estate agent threads will you hijack by trying to advertise your company??
I'm all for self promotion but you have such a narrow minded view..i.e All estate agents are bad and your company is great.
Good luck with your business ( I mean that sincerely) but stop shoving your company in my face.

If people want to sell their houses to 'who pays the most' they could always use the auction route?

I don't see the logic in purposely underpricing a house, having 40 people view it and then it going 40% over 'asking' which was originally never right anyway.

Put down what you want for the house, if you don't know - let it go onto the open market in auction where the bidders are visible to you and in the same room.

Makes it fair ;)

Arghhh@buying a house in sheffield!

The only peole to profit are the banks.

I got 16.5k above the asking price on my house but then paid 16.5k above the asking price on my new house. That was 2 years ago.

I am not narrow minded and i do actually support some estate agents in sheffield believe it or not, if you read other posts.

Why do some people on this forum protest to my opinions and self promotion, havent you ever had a passion for helping people?????or creating something new?

I can assure you that my research, experience and information is not biased just facts.

To be honest caron I don't think people would mind so much if you were more active in other areas and became a sheffield forum community member.

Take for instance myself. Everyone on the board knows that my business is Unlocking Phones. Do I shove it down the throats of people on the forum?... no!
Yes I have a small advert in my sig which appears on every post I make, but I don't purposely in every thread mention an area related to my business.

90% of your activity on Sheffield Forum is based in the Living in / Moving to forum. And low and behold the majority of the posts made are for one purpose - to let people know 2roost exists.

If I were Geoff (which I'm not and have no say in what he does) I would ban you as a user of the forum until you showed community spirit and joined in with the forum as a whole.
It looks pretty desperate (just being honest) that you push and push and push your business so much on here with a total disregard to every other user around you.

I dont want this to be a 'have a pop at caronp' post, but I think it's only fair we explain why people get a little cheesed off at your constant self promotion.

All the best - your site looks very good and I think you'll make it to the big leagues of house sales. In fact a relish that day so maybe you wont have to promote your business so hard.

Good luck :thumbsup:

Come on now I may be keen to promote a new concept, but i also use the forum in many other areas, I am honest enough to say who I am and what I do, I dont hide myself behind code names and pretend I am not connected to the property business.
This forum is supposed to be about helping each other and giving real feed back, as I am in a position to be able to help some people I try to where I can.

Thanks for taking the time to look at the site :)

I agree with Caron on this one. There are alot of posts about estate agents makes a balls up of things on here, so one of the alternatives is Carons business. Its hardly saying it will reform the world, just help you advertise your house with a personal touch. Nobody has a stronger interest in selling your house then you, no matter what you read on the literature.

Which is ok 1Man&hisBMW but the fact is we know already. We all know - we're not saying anything against how she comes across. I'm not saying she's calling all Estate Agents bad or useless.

However every post has one thing in mind and that's to use her site. Like I say if she contributed to the forum 'as a whole' more (and I know she does here and there), but you can't say it's a fair comparison without telling porkies now.

I have nothing against her concept, in fact I welcome it because I'm all for not spending more than I have to (including Estate Agents), but it's doing her NO favours shoving it down peoples throats.

Do it the real way. Advertise, get a shop front or something. AdWords - banners on other sheffield sites and maybe a small but noticable link to her company in her sig while contributing to the forum as a whole. That's where we're coming from.

Hope that clears it up, and is taken on board.

Originally posted by Tony
I don't think that anyone is saying that it is fair or not fair ... to be fair ;) However, it's how it's been done in Sheffield for as long as anyone can remember.

After being in Sheffield for eleven years and having a house for seven, I've just about got used to it - and, indeed, we successfully bought a new house this year. We didn't have to go over the asking price, amazingly - although it was on with ELR, who do value more realistically than others.

I think everyone more or less realises that there are reasons for the manic "over the asking price" bids, and accepts (with varying degrees of enthusiasm) that it's a different system.

What is frustrating is that you don't get any feedback on your bid. In other parts of the country, a house is on at, say, £125,000 and you offer £120,000 (in time-honoured manner as demonstrated by Phil & Kirsty on "Location3"). You then get a call from the agents along the lines of "you're 'avin' a laugh, ain'tcher?" and an intimation that the vendors would like nothing less than £123,500. This all seems perfectly fair. Under Sheffield's system, you get a chance to put your "best and final" bid in, but usually with absolutely no idea if you need to go £300, £3000 or £30,000 over the nominal asking price. The bland exhortations from the estate agents to "offer what you feel the property is worth" are pure spin. It's a horrible game of poker.

People who bought houses in Crookes for £80,000 when they were advertised at £60,000 will, of course, be having a little chuckle if they sell now...

My first post ever...

I have to agree that this system of bidding way over the asking price is stupid. Like someone said before, if you want to enter a bidding war, go to an auction.

My own view, which I have put into practice, is to say "Here is my offer. I will not participate in sealed bidding. My offer stands only if the house is removed from the market upon acceptance."

Several people then turned down my offers, one Estate Agent ignored my instructions and came back to me 2 days later to say I needed to put a Best and Final bid in - at which point I bluntly informed them that I would not proceed, and (because I was also otherwise dissatisfied with their conduct) I did not want any further contact from them.

However, no matter what the Estate Agent says, the decision ultimately lies with the vendor, and it's a question of whether their fear of losing a sale outweighs their greed for an extra grand or two.

Is it still the case that Sheffield asking prices are lower than expected final prices? Does this differ according to which estate agents are used? e.g. Blundells seem to price lower than Haybrooks?

Hi everyone,
I am new to this forum please advice me on this matter.
I am a first time buyer. Looking for a 1bedroom flat. Made an offer5 grand lower the asking price last week. Haven't heard from estate agent anything since then. I know that in sheffield people start bidding from the asking price. But the apartment was in very bad state, it wasnt touched probably since it was built, there weren't even radiators in the rooms. Basically, it needs a total renovation from the scratch. Ok, my questions are:
Do you think it was an insulting offer?
If the vendor doens't respond for a week (i think its a reasonable time to make up his/her mind) is it a bad sign? I guess he hasn't got any offers yet and still waiting for somebody to come up with higher offer.
I really dont wanna loose the flat and want it asap. Do you think it'll be too stupid to call the agent and offer again the asking price?
Or shall I wait (oh i can't wait...) till they get back? Coz I've had bad experience with Haybrook. They didn't tell me that other ppl put higher offer and the house was already sold when I called them back to ask when the vendors gonna get back.
Thank you.

Hi Marielle

I think your offer is totally fine. What i would suggest is ringing them and applying some pressure. We all know EA's do this all the time so why should the buyers not !

I would ring them and explain that you want to get some feedback because you are still viewing other properties and would be making offers if this one is not accepted.

Why should you put your search on hold whilst you wait for them to get back to you ? If you wait to long the EA's just try and get others interested to start a bidding war !

If you apply the pressure then they know they might lose your offer and if they do accept it then make sure you tell them that you want it taking off the market straight away ! Every day you wait is another day for the EA to try and get other offers in so IMHO i would give them a call !

Worth a try to try and get some action ! and just my opinion :thumbsup:

Did you meet the vendor in person? If you got any details then contact them in person and make the offer, the EA may not even have passed it on.
If not then arrange another viewing and ask to meet the vendor, then make the offer to them when you meet.

Hi Coggy,

Thank you for your advice. I 'll call them first thing tomorrow. I thought exactly opposite- that if I let them know that I'm (very) interested, they try to push me further.
U see, I don't really mind to offer the asking price (but that will be my top end but I will need to delay the renovation for a while). I thought it would be fair enought to pull off 5 grand in order to use it for renovation and they should understand that.
Anyway, thanks again.

No haven't meet the vendor.
I'll try to view this weekend (if they don't get back to me before that) again and catch up with vendor.
thank you.

Hi Marielle

Now you can use that to your advantage. Basically ring them and tell them you need some feedback on the offer because you are wanting to view other properties and want to put an offer on one you saw yesterday.

They go away and get back to you with the feedback, if they accept great it's yours, if they say they are really interested but need time to think about it because they want the asking price i would suggest hitting them with just a 2.5k increase on the offer and say the offer only stands for the day and it's subject to it being accepted today and taken off the market !.

If you don't and you say " Ok i will give you more time" they can then rally quickly to get another party interested for a bidding war.

Please note this can back fire sometimes and it's only my opinion. Please let us know how you get on ! and good luck

HI,
Called them and told what coggy suggested. They said that vendor is still thinking as property on the market only for a week or so. And also he is not in rush as he is looking for the property himself which he hasn't found yet...

We're moving back to Sheffield from down south - I thought estate agents there were sharp but I'd forgotten the chisel-honed capabilities of the Sheffield brigade. A good example was an estate agent cancelling a viewing on us when he knew we were travelling up especially to see the place. I also get the impression that they don't seem that bothered about 'out-of-towners' like us so I suspect we'll end up renting and at least being able to complete very quickly.

Just to add to the mix on this subject, a house we liked the look of went for - get this - £75K above the asking price. Never have I seen such a bidding frenzy. It is a peculiar practice, unique to Sheffield but no change from when we bought our first house 12 years ago.

I don't get it. I saw a house i liked for 185k 8 weeks ago. went in with a 180k offer and it was accepted that day. We move in next week.

At the time we didn't realise this wasn't the way iti s done in Sheffield or we might have gone in at full asking price. I take it this isn't most peoples experience?

I see this as the danger of the Sheffield system. everyone expects to pay more so they do. In reality many vendors would probably except less but the Estate Agents have a vested interest in letting prices go above and beyond what could be considered fair. In terms of getting a mortgage they only look at if similar properties have sold for the same price in the area. As they are also subject to the same practices they have so you still get a mortgage on an overpriced house.

Yep - 12 years ago we put in bids on a number of houses and they all went sky high - we ended up with one that needed a bit of TLC - as first time buyers we were attractve and got it for (just) less that the asking price in the end and we were the only bidders. In principle I think that if there was just one interested party then that should lead to a straightforward offer and acceptance process. Sometimes though, I think that estate agents sensibilities are a little offended at this and they would rather have offers sitting around instead and hope for a bidding war.

We sold our current house privately and it was a doddle - more and more of our friends are doing this and I can't recomend it enough.

Our plan for buying in Sheffiled is
a) to have sold first so that we are attractive buyers
b) to not get involved in a bidding war and pull out when it gets silly
c) to ensure that we get as much contact with the vendor as possible so that they know what's going on
d) to put in time limited offers - if they don't accept by x-date, then we withdraw.

Sheffield has lots of lovely houses and I'm not going to get ourselves wrapped up in knots when we miss out on 'the perfect one'. We've been keeping an eye on the market since December and there's been a good few that we would be perfectly happy to live in.

Two things move markets (property markets and stock markets) these being greed and fear. If you fear losing a purchase you bid more and you want every penny when you are selling.

The agents set the rules and you join in with them, it's the way of the world.

Hello everyone,

Good news- I've got my offer accepted!!!!:hihi: It went according exactly the scenario you've suggested- Apply the pressure and/or go again and talk to vendor (if obviously vendors still live in the property) and keep the agent informed!!! (The vendor said that he accepted my offer as soon as he heard but obviously that wasn't what I was told by EA)
Oh well, another experienced buyer and my advice to all FTBs: It looks like usually vendors say straight away whether they are accepting or not the offer and if you are not getting any feedback for a week or so, its most likely that EA try to get another party interested. Act quickly!!!
Special thanks to coggy and cyclone.

Hi Marielle
Now you can use that to your advantage. Basically ring them and tell them you need some feedback on the offer because you are wanting to view other properties and want to put an offer on one you saw yesterday.

They go away and get back to you with the feedback, if they accept great it's yours, if they say they are really interested but need time to think about it because they want the asking price i would suggest hitting them with just a 2.5k increase on the offer and say the offer only stands for the day and it's subject to it being accepted today and taken off the market !.

If you don't and you say " Ok i will give you more time" they can then rally quickly to get another party interested for a bidding war.

Please note this can back fire sometimes and it's only my opinion. Please let us know how you get on ! and good luck

Great news Marielle :)

Really pleased for you and glad it worked, the best of luck and best wishes in your new home !! Well done !

Well, I am fed up with the buying/selling situation in Sheffield, because it seems to just be about greed and estate agents behaving like cartels.

I wrote a long email to the local MP with my experiences, and suggested he have a look at this site.

I suggest that everyone who is fed up does the same. Not sure it will achieve much (still waiting for a reply, a month later), but the more people that do it, the more likely they have to sit up and take notice.

That's what we pay them for!

My biggest issues were with the bidding system and the valution process - I reckon evaluations need to be done by HM Revenue and Customs, not by Estate Agents, who seek to make more money from over-valuing. (the difference between the two valuations would be shocking in many cases)

Check out who your MP is here: theyworkforyou dot com

just wondering if closed bids is still rife or has it slowed down with the interest rate hikes?

just wondering if closed bids is still rife or has it slowed down with the interest rate hikes?

Some friends of mine went to sealed bids today

They went 15% over - and failed!

It beggars belief

All of the headlines scream that property is overvalued but still this goes on after several recent rate rises.

Im glad Im not buying

Deepak

We have just bought our first house, moved in last week, and we put an offer of the asking price in and got the house and it's in S6 the area where most of the bidding up seems to occur. So there are still some bargins out there. We bought the house for 85k as well which we think os a bargain as most of the major stuff has been done.

we've seen a house we want quite badly. So I'm just wondering whether to put an offer on at the asking price or just offering the vendor £20K straight over and see if they'll take it off the market then and there.

If they were OK with this though, I bet as soon as they speak to the estate agents they'll tell the vendor to give it a few days and see if anyone matches it.

But I definitely don't want to get into the sealed bid scenario. We got so annoyed with it when we last bought in 2001 that it's just not worth the hassle.

Sheffield property market is one of a kind. It always has been Offers Around but "the locals" know that usually means starting at. Not always the case and sometimes a property is valued correctly and the asking price is reasonable but you only know this if you have done your research and know the prices for each particular area.

The asking price on a property is not usually way over valued but obviously the EA's calculate the asking price based on previous sales for the same style of house in the same road/area. The mortgage company will also conduct their own valuation and wont offer a mortgage if the propoerty is way over valued. So in summary the house is worth what you pay for it which is based on the property market at that time. As someone has already mentioned, generally you might have paid well over the asking price for your house but it will be worth way over the asking price now. (disclaimer: there are exceptional circumstances when this is not the case).

The other issue is how the EA's in Sheffield work and their general lack of communication fuelled by their objective to start a bidding war to increase their cut/profit. Ive found that the best way to deal with EA's in Sheffield and get the house you want is to contact the vendor direct and keep that contact going. Speak to the vendor before making your offer with the EA, this helps to build a relationship with the vendor and gives you the heads up with regards to how the EA is handling the sale and possible lack of feedback.

At the end of the day the vendor makes the decision on when and who to sell to so if you can make a positive impression early on it only strengthens your chance. Your doing nothing wrong your just getting as much information as possible to help you buy the house you want. Now EA's dont want this to happen at all and will tell the vendor to cut off contact but have a wild guess why that is.

For the record i'm not implying all EA's are bad it's based on my experience with them, and i'm sorry to say I dont trust them and dont think they are worth the fees they demand. That applies to both selling and buying.

I know next time I will be selling privately and do thing s very differently. For example, if your selling your basically paying them to place an add in the property guide and get people to view your house and then accept bids on your behalf. You can do that your self and be in complete control of who is viewing your house and the bids placed. You can also do extra things to help with anyone unsure of not buying through an EA like having a full structural report already in place and searches etc. to show potential buyers and provide a more positive experience with feedback and help speed things up. I appreciate Its not for everyone and could be stressfull but when is buying/selling a house not stressfull and just think of the saving you will make on EA's fees not to mention you will have the complete truth of how many bids are on the table not just the "choice" bids put forward.

Speaking of choice bids, I have come across situations where "incentives" have to be paid in order to get your bid presented let alone accepted.
(MOD TEam: I hope the last comment is vague enough to leave in place but I 100% assure you it is based on past experience.)

Reading this thread has totally depressed me. I can only just afford to get on the housing ladder as it is.

Oh well, I'm going to put in my offers and if they don't like them so be it.

Hi dont get depressed - if you are a first time buyer you are already a step ahead of the rest. Get your solicitor & mortgage offer in principal in place - go around and visit the estate agents - make friends with them and get on their match list. I work part time in an estate agent and see lots of different people and even though I help them all, I know that I go that extra mile for someone who is polite with a friendly smile. I cant get them the actual house but I contact them immediately that one (matching their requirements) comes on the market and get them in the first viewings etc. We are not all ogres you know!

My ex lodger saw a flat he liked and offered the asking price if they would take it off the market the same day. The vendors needed a confirmed offer on their place for the offer to be accepted on the place they were buying so it worked in my friends favour and he got the flat. You can get lucky so don't give up. I think it also depends on what area you are looking at. The lower end of the market is still hard because so many people can only afford property in that bracket so much more competition. I know people say Sheffield is the only place that has these problems but it might be party because of the slightly lower prices still to lots of other parts of the country. Also the fact that loads of students who come here to study stay.
Being from Stroud I always check the property guide when I go home and there are lots of places that just don't seem to be selling but then most of them seem to be over 300grand. I am just glad I got my place when I did (3 or 4 yeras ago) and I still paid 10k over the asking price. I would have no chance now.

it's not all depressing. we bought our first house 4 years ago for the asking price (a really s****y terrace in walkley...blundells played us a bit, but fortunately it was carp enough that no-one else was desperate enough to buy it), and moved house into a semi in s10 last weekend, for which we paid approx 5% less than the asking price (but then, it was overpriced to start with). we had had an offer accepted on a gorgeous house in s11 too, for which we had bid 7k over the asking price, and had decided against. we also failed to have offers of the asking price accepted on 2 other houses. ok, it took over a year to get an offer accepted, then we had 2 accepted in close succession, but at least we managed eventually.

Thanks for the encouraging words.

Certain estate agents overprice intentionally to get stupid people to sign up with them. Haybrooks are the worst. Blundells used to do the oposite to suck people in then get everyone interested to go to closed bids to push the price back up.
********, the lot of them!

Does anyone know any websites or places to look for private house sales?

I actually got my house for the asking price believe it or not!!!

Mind you didnt have much luck before that! I was a first time buyer and had been putting offers for some right wrecks (which started off relatively cheap) but the final bids ended up £20,000 over the asking price. Some of the houses had great potential once they had been renovated in terms of size, location etc but you was probably looking at £40,000 just to get the house livable! :(

Certain estate agents overprice intentionally to get stupid people to sign up with them. Haybrooks are the worst. Blundells used to do the oposite to suck people in then get everyone interested to go to closed bids to push the price back up.
********, the lot of them!

Blundells tried exactly that with me, valued my house at £90,000. 2 other agents valued between £115,000 - £120,000. Sold for £118,000 by haybrook. Went with them because they offered no sale no fee.

I have given up on the housing market in Sheffield already. We have had 2 different offers rejected so far. One for a property on Carlby Road in Stannington that was on at £134,950 and went for £140,000 and the other in Hillsborough on Wood Road which was up for £134,959 and we offered £140.500 and were told it went for £150,000!!!! How are you meant to get on the property ladder in Sheffield?

We have tried holding out on making an offer till the last minute to avoid the vendor getting gready and also tried going in fot eh kill and offering alot more to aviod going to closed bids which seems to push up the price further

:rant:

Buying query........

Ive put an offer in on a property 5K less than the asking price so far no one has offered more than me, and the vendors haven't really said anything. I this was over a week ago. what should I do? any advice??

selling query.............

I have a property ot sell S2 (near London Road area) and the estate agents tell me the bidders are getting rather fidgety and want to know when I will agree and complete? the estate agents have told me that I should go for the final bids by next week. Currently there are 3 people who have put similar offers in.

HELP!!