We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Offer letter
Options
Comments
-
The house we have just bought was on at 142,000, our first offer was 128,000, we are FTB so didn't really know how much to offer. Then we went up to 132, 134, 136 and finally 137, which is what we got it for, we really wanted the house though!!
All of that took place over the phone, couldn't be doing with waiting for letters to get there. Is there a benefit to doing it through letter?He who laughs last, thinks slowest0 -
If the EA doesn't cry when they read it, you didn't do it properly.0
-
PasturesNew wrote: »If the EA doesn't cry when they read it, you didn't do it properly.
Now then are you trying to make the EA's on this forum cry:eek:A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
All of that took place over the phone, couldn't be doing with waiting for letters to get there. Is there a benefit to doing it through letter?
As far as I know, the estate agent is legally required to put any offer made in writing to the seller, unless the seller has instructed that offers below a certain amount need not be passed on. Therefore I guess the reason that offers in writing are recommended is so that the agent has to pass it on without being able to negotiate up the buyer's offer first (for example, by saying "oh I don't think they would accept an offer that low").0 -
???? I did not think that the offer had to be made in writing, nor passed on in writing as a matter of law. Although I think there may be a NAEA guideline which recommends that the agent passes the offer on in writing.As far as I know, the estate agent is legally required to put any offer made in writing to the seller, unless the seller has instructed that offers below a certain amount need not be passed on. Therefore I guess the reason that offers in writing are recommended is so that the agent has to pass it on without being able to negotiate up the buyer's offer first (for example, by saying "oh I don't think they would accept an offer that low").Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
DVardysShadow wrote: »???? I did not think that the offer had to be made in writing, nor passed on in writing as a matter of law. Although I think there may be a NAEA guideline which recommends that the agent passes the offer on in writing.
Here is the bit from the NAEA Code of Practise: -
5. Offersa) By law you must tell clients as soon as is reasonably possible about all offers that you receive at any time until contracts have been exchanged (in Scotland, missives have been concluded) unless the offer is an amount or type which the client has specifically instructed you, in writing, not to pass on. You must confirm such offers in writing at the earliest opportunity and keep a written or computerised record of all offers you receive.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
So legally the EA must put all offers forward not just those in writing.0
-
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards