Estate Agents - Are they obliged to tell me??

starkiller

Boyf and I have placed an offer on a house, on the market for £164,950, we have offered £160,000. Not been accepted by vendor nor has it been rejected. have been in touch with EA every few days for update, etc. They have told us another offer has been made, but won't tell us what that offer is, I guess they aren't obliged to tell us would that be right???

Got sis to ring estate agents posing as a potential purchaser (naughtyI know ) was told that they are no longer doing viewings, and they have several offers, they had two yesterday (one being ours)and that the vendor has got what he wanted....??

They are ringing on monday to see if we want to increase our offer, really confused, can afford to go up to about £170K, but would really like to know what other offers are.

Any advice, sneaky hints as to how to find out what the other offers are.

As my sis said to me asfter her sneaky phone call "Alls fair in love and house buying!"

Hope someone can offer me some advice.
Cheers
Starkiller X X X

Jorgan_2

The Agent isn't obliged to tell you anything about the other offer. I would try speaking to them to ascertain what the situation is with your offer.

robwend

impossible to find out wht the offers are, and yes you willl not be told what the others have offerd,as house buying is a lottery! u may win a bargain you may not, the EA are working in the intrests of your potental purchase, my parents brought my house before me but there chain broke so i knew exsactly what to offer! lol, sorry ive no underhanded tricks id want to tell!! although id love too.lol

ka7e

If you up your offer by increments the EAs will probably say either "Sorry, the other offer is higher" or "We'll put your offer to the vendor". But as they are supposed to get the best price for the vendor, they might be playing you off each other in the hope someone will make a high offer (at or over asking price) to secure the property.

Poppy9

The EA could be lying and there is no other offer. Put your £160k offer in writing. Outline your position with regard to buying especially if FTB, drop a copy through the vendors letter box to make sure they see it. Then see what happens.

I would have thought if they had another offer they would have told you yours had been rejected. If there is another offer that person might not be in a position to proceed.

Also after watching the BBC programme on EA I wouldn't trust them further than I could throw them. One of the EA might be buying the house themselves.

Let us know how you get on.

Doozergirl

Could you try asking for an amount that would seal the deal with the vendor? I suspect it would be asking price unless the other party had gone over.

I would just hate to be in this situation (as a buyer, of course!). You don't want to pay over the odds for a house just because someone else likes it. I'd spend the weekend frantically viewing houses to see if there's anything else out there and also to get a good idea of what the house is really worth. Try to make any next offer with your head and not your heart.

I hope you get the right house at the right price!

mandi

Why not ask the EA, to ask the vendor to disclose offers..Some vendors dont realise that the Agent isnt disclosing other offers.. and it can be so frustrating for buyers...

Good Luck

Mandi

kit

Please note..... not all EA's are bad

Phone them and tell them you want a definate answer. They have 2 offers and basically sounds like they are holding on to one just in case the other falls through.
Tell them you have found somewhere else and want an answer quickly so that, if you dont get this house, you can make an offer on the 'other' house before someone else does - that should get you an answer.

starkiller

Thanks everyone for your advice and good luck messages. I watched the EA programme too and know what you mean..... :mad:

The house is vacant with no chain, old person who lived in it has moved to Scotland with son/daughter, so as much as I would like to put offer in writing there is no one there to receive it

Just going to bide our time, other half is much calmer and level headed at all this than me. I can't see it going for more than asking price due to amount of work it needs, but then again you never know. :rolleyes2

Fingers crossed all weekend I think. Lets hope its time to get the beer out and celebrate on Monday!!!
Starkiller X

starkiller

Thanks Kit only just read your reply. Good plan, will run it past OH.

ps I know all EA aren't as bad as the ones in the programme......they had no shame at all!!! Glad I live in Yorkshire and not the Smoke...phew!

starkiller

Tomorrow is D-day, have decided to go up to £167K if we need to, but no more than that. Here's hoping our original offer was suffieient.

Hope I am back here tomorrow with some good news