Are estate agents allowed to lie about offers?

toocan

Ive put a bid in yesterday morning on a house (it sold in jan 08 for 205k and ive bid 162k)

now the estate agent just got back to me and said that she just wanted to keep me posted and that someone else had bid higher she wasnt allowed to say how much (i got the impression she wanted me to up my bid) however that bidder did not have their finances in place and if they cant then thell accept my bid. the estate agent went on to say that she will know monday...

i did get the impression in the way she paused after saying someone had bid higher that she wanted me too. so my question is could this be a fib? i didnt really respond other than saying thats fine. any suggestions on what i should do next?

pawpurrs

She has allready said they will accept your offer if this one doesnt come through. No way of knowing if she is lying or not. Its up to you, you may lose out, and you may not.

Incisor

toocan wrote: »

... i did get the impression in the way she paused after saying someone had bid higher that she wanted me too. so my question is could this be a fib? i didnt really respond other than saying thats fine. any suggestions on what i should do next?

You've played it cool. If you are underbidding, the market will punish you by taking the property away. If you are overbidding the market will punish you with a fine of the excess you have offered.

If she was trying on, then I would imagine that her alternative buyer will fall fairly quickly because the Agent won't want you to lose interest. If the alternative buyer hasn't gone by close of play on Monday, then tell her your offer is only on the table until next Friday. You do risk the possibility of another buyer

Running_Horse

Are estate agents allowed to lie about offers?

Is the Pope allowed to lie about immaculate conception?

poppy10_2

Of course she's lying. It's a well known EA tactic to pretend there is a higher bid. Call her bluff, she'll come back crawling.

toocan

if she does come back monday and says my offer has been accepted whats the procedure for accepting a bid? do i ask them to take it off the market?

Debt_Free_Chick

toocan wrote: »

if she does come back monday and says my offer has been accepted whats the procedure for accepting a bid? do i ask them to take it off the market?

Yes - you'll effectively have to put a new/revised offer on the table saying that your bid of £162k is subject to the property being taken off the market; for no further enquiries to be accepted and for no further viewings to take place.


It's generally a good idea to make all offers dependent on this condition - but the seller does not have to agree. In rising markets the seller probably won't agree. Desperate sellers will generally always agree.

toocan

Debt_Free_Chick wrote: »

Yes - you'll effectively have to put a new/revised offer on the table saying that your bid of £162k is subject to the property being taken off the market; for no further enquiries to be accepted and for no further viewings to take place.


It's generally a good idea to make all offers dependent on this condition - but the seller does not have to agree. In rising markets the seller probably won't agree. Desperate sellers will generally always agree.

much appreciated any other tips ? at what point would i negotiate the fixture and fittings etc?

GDB2222

toocan wrote: »

much appreciated any other tips ? at what point would i negotiate the fixture and fittings etc?

If they are fixtures then by definition they form part of the property. Generally, carpets and curtains are included in the sale price.

Debt_Free_Chick

toocan wrote: »

much appreciated any other tips ? at what point would i negotiate the fixture and fittings etc?

Firstly, check what's included.

Then think about what you actually want - is it just "tat"?

Then wait for the Sellers Information Form. You get this from your solicitor before you exchange. See what's included; see what you actually want.

In the current market? Demand - nicely - what you want, at no extra cost.

F&Fs are just that - generally "fixed" so it's actually a pain for the Seller to remove them and make good any damage. The Seller will only want to do this if they are of huge sentimental value - although, Sellers (me included) tend to attach emotion and/or an inflated value to such things.

Wait until you are close to exchange and then suggest they "throw in x, y & z" as well.

It's a game of bluff & double-bluff though. Will they refuse and stick it out? Will you be prepared to go ahead without the F&Fs you want? Personal decision really.

theGrinch

invite the EA to put it in writing.