Estate agent rejected my offer with sarcastic laugh

kunekune

I suspect OP is in Scotland. It works differently. "Offers over" still often means precisely that, possibly overs quite a bit over. It may also be a tendering situation, hence the offers don't reach the vendor until the date is up.

googler

If there's an offer of £119k already;

Why haven't the sellers accepted it?

If they haven't accepted it, why haven't the offerers got fed up and withdrawn it? Are the vendors hoping to keep them hanging on until something better materialises?

If the vendor IS in Scotland, then the offer should have been made in writing to the EA, and will most likely have a limit date on it - i.e. submitted to the selling EA on 19th, open for acceptance until 5pm on 20th, that sort of thing.

jamtart6

EAs are legally obliged to pass on any offers. I think.

sarahb

The agent may be totally genuine. My property is on the market at offers over £155k, reduced by £40k since it went on the market nearly two years ago. I accepted 3 offers last week - 2 at £150k from people who are awaiting mortgage approval and one at £155k from people who have not yet got a buyer for their property. Each has been told the property will stay on the market until they have had a survey.

I had a further viewer yesterday who I confidently predict will make an offer way below my asking price and may well not believe the agent when they are told I will not accept anything below £150k.

The agent is working for me and doing a good job. Whether other people believe what they are being told by them is frankly none of my concern.

sarahb

jamtart6 wrote: »

EAs are legally obliged to pass on any offers. I think.

The vendor may have left instructions with them to reject any offers below a certain level.

jamtart6

sarahb wrote: »

The vendor may have left instructions with them to reject any offers below a certain level.

Ah yes this is true. From what the OP has said I do think the EA is playing them. If the offer was of £119'000 then why haven't they accepted that.

EA played us for another £5k but it was still £20k cheaper than anything else in the area but at the time we were so desperate to get the house, they had us over a barrel. I thought it was worth what I paid for it (and more) and even in the last 9 months prices in this area haven't come down to anything like the price of this house.

OP don't offer more than you think it is worth. EAs are a whole different calibre of people.

chickmug

brit1234 wrote: »

I am sure they have to pass the offer on what ever it is. We all know that prices are falling. I would report them to the NAEA.

They were out of order. Would you like to name and shame them here for our readers?

Why report them to the NNAEA?

Name and shame what for - a sarcastic laugh.

chickmug

jamtart6 wrote: »

EAs are legally obliged to pass on any offers. I think.

Following from the NAEA Code of Practise

Offers
a) 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.

sarahb

jamtart6 wrote: »

If the offer was of £119'000 then why haven't they accepted that.

They may well have done (see my post #15 above) but until that prospective purchaser is offering more than words they are continuing to invite offers from other people.

chickmug

sarahb wrote: »

The vendor may have left instructions with them to reject any offers below a certain level.

If happens very rarely and even when we had this type of written instruction we would still pass ALL offers on.