Can estate agents be trusted?

taffday

Can anyone give some advice? We are currently looking at buying a repossed houseand put in an offer of 68k the asking price is 69,950. the estate agent has called us today to say that the management company don't even put a first offer through to the vendor as this is never the full amount you would really offer, so want a second offer.
Is this a bit dodgey?
Not very impressed at all!
Cheers Taff:money:

maro11

Estate agents are all like this - in my opinion. We have had a similar thing happen to us, we loved the house so decided to give a higher offer after EA told us that they had at least 10 offers on the house, etc etc yeah right!
We got the house we wanted but it does bother me when I know I have be played.

krdrummer

taffday wrote: »

Can anyone give some advice? We are currently looking at buying a repossed houseand put in an offer of 68k the asking price is 69,950. the estate agent has called us today to say that the management company don't even put a first offer through to the vendor as this is never the full amount you would really offer, so want a second offer.
Is this a bit dodgey?
Not very impressed at all!
Cheers Taff:money:

I'm not 100% sure but I think that the Estate Agents by law have to put whatever your offer is to their clients.

taffday

but do the client have to put the offer to there client?

LilacPixie

Tell the EA that 68k is your limit so your 2nd offer would be 68000.01

taffday

we've told them 68200 but to not put the 1st one through just seems very wrong to me

Hailstorm

I believe they are legally obliged to pass all offers onto the vendor unless the vendor has specifically instructed the EA to reject all offers under a certain price. Then if your offer is under the specified price they do not have to pass it on.

This not passing on the first offer is on dodgy ground in my opinion.

mandi

Taff,

All offers MUST be submited to the vendor by law, as the EA is saying they will not submit then they are breaking the law.

Personally if this is the case I would revise your 1st offer to something around the £60 k mark , with your 2nd offer being the £ 68 k , however, the fact they havent submited your offer to me is illegal ,and I would consult your solicitor .

taffday

its not the EA that will not put the offer forward it is the managment company that is working on behalf of the vendor.

Does anyone know if it is possible to set conditions if offer is accepted such as them having services reconnected before moving into the property? And also could we request that they do not accept other offers as we have children and really do not want to take the risk of getting near to completion and being gazumpt.

Thanks
Taff

googler

From The Property Ombudsman's code of practice;

Section 6a (see the bit in bold)

"By law, you must tell sellers 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 seller has specifically instructed you, in writing, not to pass on"

The vendor has instructed the EA not to pass on offers of the type 'first offer' .....

mandi

Taff,

you can put any conditions you like in your offer . That includes no further viewings, & the property taken off the market.