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  #41  
Old 26.05.2020, 10:52
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Re: House sold before even viewed it

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it starts with "en" and ends with "titled"
  #42  
Old 26.05.2020, 10:59
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Re: House sold before even viewed it

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The potential buyer doesnt have to wait for me, they are waiting until the seller has received all bids.
What part of "That's not how it works" are you failing to understand? It's not an auction.

And anyway, how long would you have them leave it? Oh, we've had two offers from five viewings, but the last one hasn't got back to us yet, plus the agent says he's got someone else lined up for next week, so we'll just hang in 'til then... would you really prefer to be kept dangling like that?
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Old 26.05.2020, 11:01
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Re: House sold before even viewed it

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To add to this list, I have seen sellers not willing to list the property too long, it can have negative impact, a potential buyer would also think why is this house not selling, could there be anything wrong with it?
I've seen houses and flats for sale here for over a year. One near us has had three different estate agents. The second one put the price up. It's still for sale.

If a property does not sell, there's only ever one thing wrong with it - the price is too high.
  #44  
Old 26.05.2020, 11:04
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Re: House sold before even viewed it

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What part of "That's not how it works" are you failing to understand? It's not an auction.

And anyway, how long would you have them leave it? Oh, we've had two offers from five viewings, but the last one hasn't got back to us yet, plus the agent says he's got someone else lined up for next week, so we'll just hang in 'til then... would you really prefer to be kept dangling like that?
I know how exactly it works and I accept the system, I am just saying its a shitty system.

No, there was appointments scheduled and once they finish, everything is fair game then, get your bids in. If I was selling a house for 1.5m and 3 bids came in at that price, arent the chances are someone will go to 1.6m. I am just surprised it doesnt work like that, considering where we are.
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Old 26.05.2020, 11:12
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I know how exactly it works and I accept the system, I am just saying its a shitty system.
Only if you don't understand how it works. We've bought property three times using that 'shitty system' (one in France, two in CH) and it makes the whole process much simpler. It's also pretty much the same across most of Europe (notable exceptions being some parts of Britain).

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no, there was appointments scheduled and once they finish, everything is fair game then, get your bids in.
IT
IS
NOT
AN
AUCTION
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  #46  
Old 26.05.2020, 11:18
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Re: House sold before even viewed it

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only if you don't understand how it works. We've bought property three times using that 'shitty system' (one in france, two in ch) and it makes the whole process much simpler. It's also pretty much the same across most of europe (notable exceptions being some parts of britain).



it
is
not
an
auction
thank you for your smart arse comments
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  #47  
Old 26.05.2020, 11:22
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Re: House sold before even viewed it

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I know how exactly it works and I accept the system, I am just saying its a shitty system.

No, there was appointments scheduled and once they finish, everything is fair game then, get your bids in. If I was selling a house for 1.5m and 3 bids came in at that price, arent the chances are someone will go to 1.6m. I am just surprised it doesnt work like that, considering where we are.
The bid was good enough for the buyers to lose instant interest in all other possible buyers. You had all freedom to come up with such bid yourself.

You have to talk to the bank before going in the bidding war so you know your budget if high enough you could have said "I want a viewing in an hour and if no big problems with the construction are there I bid +20% and no financial reservations, if you had to talk to find out if this was even within your range than you highly likely would stand no chance anyway. Take my Neighbours, they want a house in a specific neighbourhood inside Zürich, and they have a big Wishlist, so offerings are very limited. They are simply saving up more and more and by the time a house they love comes unto the market they drive up there and will instantly bid way over asking price to secure the object. They know how the game works.
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Old 26.05.2020, 11:24
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Re: House sold before even viewed it

I find this "fixed price" much easier than the "offers as from" mentality. You know where you are as the price is fixed or you pay what you want to without a bidding war.
  #49  
Old 26.05.2020, 11:30
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Re: House sold before even viewed it

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The bid was good enough for the buyers to lose instant interest in all other possible buyers. You had all freedom to come up with such bid yourself.

You have to talk to the bank before going in the bidding war so you know your budget if high enough you could have said "I want a viewing in an hour and if no big problems with the construction are there I bid +20% and no financial reservations, if you had to talk to find out if this was even within your range than you highly likely would stand no chance anyway. Take my Neighbours, they want a house in a specific neighbourhood inside Zürich, and they have a big Wishlist, so offerings are very limited. They are simply saving up more and more and by the time a house they love comes unto the market they drive up there and will instantly bid way over asking price to secure the object. They know how the game works.
I agree, we had a buffer of a couple hundred thousand we could have gone above asking price but as a I said its a surprise from a sellers point of view its a fixed price system
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Old 26.05.2020, 11:31
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Re: House sold before even viewed it

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My point was the honourable thing to do is to honour all appointments let everyone make fair bids on the house and then make a decision
IMHO the honourable thing to do is to clarify the rules at the beginning and be honest and transparent with all the involved parties during the process. You were timely informed, you were spared a fake visit and the owner did not play with you and the other candidates trying to have you fight against each other offering more money. This is also honourable.

I understand you, it happened to me as well. I was coming to Switzerland for the first time, with just a couple of nights booked in a hotel and an appointment to see an apartment the following day. While in Arth-Goldau I read the email from the station public wifi and I found a message, the apartment was gone while I was on the train, 16 hours before my appointment. And I found myself "homeless" in Zurich.

By the way, the same happens for job interviews. Sometimes the company cancels an interview because they found someone, on the other side I once canceled an interview with a company because I got a good contract from someone else. It's just life...

I wish you all the best with your housing search, I already did three and I could soon start another one, I know how important it can be
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Old 26.05.2020, 11:32
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Re: House sold before even viewed it

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I find this "fixed price" much easier than the "offers as from" mentality. You know where you are as the price is fixed or you pay what you want to without a bidding war.
For buyers most definitely yes, but for sellers you want to maximise your return so I am surprised it doesnt happen more often considering the housing market here and the demand for good quality houses
  #52  
Old 26.05.2020, 11:39
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Re: House sold before even viewed it

Buying and selling is stressful and can take bizarre turns for all sorts of reasons.

The last house we bought in the UK we got at a very substantial reduction because the elderly couple who were selling like our 'attitude' and felt so good that we loved the garden and had great ideas for it. They instructed the agent that they didn't want a much higher offer from another family- as they found them uncouth and rude, and hated what they intended to do to it...Agent was furious.

When one day we come to sell this amazing place - I would hope to sell to the right family, for the same reasons- because it is such a happy and wonderful place. Money is not everything. Or perhaps they wanted a quick sale, knew the people, they offered the asking price and they shook hand on it there and then. Job done.

However, I certainly do understand your frustration and sympathise. Onwards, forwards, bonne chance.
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Old 26.05.2020, 12:08
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Re: House sold before even viewed it

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I agree, we had a buffer of a couple hundred thousand we could have gone above asking price but as a I said its a surprise from a sellers point of view its a fixed price system
On Ricardo the 1st to bid the asking price is guaranteed to get the object. That's not how the housing market works, so nope it's not a fixed price market.
  #54  
Old 26.05.2020, 12:18
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Re: House sold before even viewed it

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On Ricardo the 1st to bid the asking price is guaranteed to get the object. That's not how the housing market works, so nope it's not a fixed price market.
As I said if you were selling a house, would you want to get the most you could for it under normal circumstances?

Its a good system for buyers
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Old 26.05.2020, 12:30
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Re: House sold before even viewed it

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The potential buyer doesnt have to wait for me, they are waiting until the seller has received all bids. If you want the house, you are not going to pull out because you have to wait a few days.

But hey the weird and strange system here is not going to change. Roll on to the next one..
That's where you're wrong. When I bought my last property in London, I made bids on three properties. Each bid came with the notice that I had also bid on other properties, an the first seller to accept my offer would get the house. I.E. Any delay, negotiation, or haggling may result in losing my bid.

One seller accepted my offer immediately, resulting in withdrawing my offers on the other houses the same day. Why should I wait for a seller to mess around with other potential buyers? I'm a cash buyer (i.e. no mortgage, no loans) - I made the offer and expect a quick response. Saying you need to wait for other buyers just tells me that you are willing to jeopardise the transaction if something better comes along. (Which happens as well, after an offer is made - this isn't legally binding until the paperwork is done. I've had a seller withdraw once saying someone else bid higher, even after we agreed - again in the UK).

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As I said if you were selling a house, would you want to get the most you could for it under normal circumstances?

Its a good system for buyers
Would you take asking price +20% now, or wait to see what happens with potential other buyers who may/may not even want the house?
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Old 26.05.2020, 12:40
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Re: House sold before even viewed it

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As I said if you were selling a house, would you want to get the most you could for it under normal circumstances?
As Tom1234 and Odile set out, in posts 29 and 52, respectively, above, that this is not always the case. There are so many other factors, including just "feeling good" about the way things are wrapped up and settled, while balancing many factors, not just the profit.

I do think, though, that it would have been kinder (but that'd have been going beyond just following the usual way things are done) had the agent, when she set up the appointment with you, taken the time to explain to you, as a newby, that, in Switzerland, a viewing appointment several days hence may well become obsolete by then. Then at least you'd have been prepared, emotionally, for the surprise of being dropped.

Now that you know that you have to put in your offer faster, here are some more suggestions to empower you to be able to do so:
  • Identify the factors in a property which are a definitey NO, for you. On your map, cross off areas or individual buildings which are out of the question.
  • Do not wait until an ad comes up. Instead, research areas in which you may be interested. Go there, do the leg work, drive up and down the roads, slowly, walk there, park for a while, listening and watching. Do this at several times during the daytime and at night. Walk to the shops in the area, walk to the schools. Learn, learn, learn. Watch where people park their cars, and how they tend their gardens. (This process will make you block out some more areas on your map, and possibly open some up that you previously hadn't considered.)
  • Look at the general state of the roads and buildings in each street in the area you're interested in. Sometimes, a whole row of buildings can suffer the same set of defects, either because there was once water damage there, or because they were built by the same contractor, or because the earth moved.
  • Use google earth extensively, looking again and again, including rooves, layout, walls, awnings, trees, fences, parking spaces, etc. For any property you're potentially learning about, view it from above, and on the street, whatever is nearby.

In this way, you'll get to know a range of potential areas, and even "favourite" desired houses, and will be more likely to know, instantly, when an ad comes up, if you're willing to view and make and offer, within hours. Besides that, ask, in any place you like, whether anyone is thinking of selling.

And in this, too, like everything else, the better you speak the local language, and the more polite and composed you show yourself to be, (and I'm not saying you were not, I'm just referring back to Odile's post) the greater your chances will be, that someone will open a door for you.
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Old 26.05.2020, 12:43
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Re: House sold before even viewed it

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For buyers most definitely yes, but for sellers you want to maximise your return so I am surprised it doesnt happen more often considering the housing market here and the demand for good quality houses
Maybe it's worth asking to an agent if there's some kind of filter. I'd expect that someone truly interested asks for a visit on the same day. While someone who is not that sure needs time.

Just consider for a moment that taking things slowly may signal incertitude or inability to pay to the agent and the seller.
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Old 26.05.2020, 12:47
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Re: House sold before even viewed it

Two words: Seller's Market.

If it's close to Zurich, Geneva, Zug or Bern, chances are demand outstrips supply. In this case, the vendor sets the rules.
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Old 26.05.2020, 12:50
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As I said if you were selling a house, would you want to get the most you could for it under normal circumstances?

Its a good system for buyers
Last house I sold was in the Netherlands (comparable market I'd say) I did not take the highest possible price, but I took somebody who offered little under asking price but was able to sign the contracts the same week, who had no financial reservations, who agreed to sign away all warranty's and future rights to hidden damage reimbursements and everything, and signed a paper right on spot that if he bounced back during the week I'd still get 10% and he showed me papers that he had more than enough in the bank to do so.

done.

And as things being good for buyers, well they'll have to wait till it is their time again, for now it is a sellers market.
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Old 26.05.2020, 12:52
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Re: House sold before even viewed it

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The potential buyer doesnt have to wait for me, they are waiting until the seller has received all bids. If you want the house, you are not going to pull out because you have to wait a few days.

But hey the weird and strange system here is not going to change. Roll on to the next one..
I think that in this particular point, you are mistaken. As others have said, some offers to purchase are made conditional upon being accepted within 24 or 48 hours. This means that not only the buyer, but also the seller has to decide very quickly. The seller doesn't always have the leisure to wait.

To illustrate: the seller makes viewing appointments, one a day, for a week, starting on Monday, and yours is on Friday.

The Monday-viewers make an offer, on the spot, which expires on Wednesday at noon. That gives the seller the chance to let the Tuesday-viewers in, and to see whether they make an offer that is higher (or if they are purchasers that she just prefers). She even has space to squeeze in the Wednesday-viewers if they can be done by 10h, to give her an hour to think, and then to accept or reject one of the offers of the Monday, Tuesday, or Wednesday folk. Done! No need for the Thursday and Friday folk to come by.

Last edited by doropfiz; 26.05.2020 at 17:27. Reason: typo
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