Offer on repossession

roger215

Hi,
Two weeks ago I made an offer on a repossessed property, the agent asked me to prove my funds etc and sent me written confirmation of the offer. Yesterday I phoned the agent and was told my offer had been rejected as a higher offer had been accepted by the bank/agent. I asked what offer had been made but was told that they could not tell me and that I had to wait 10 days for the offer to be published, it would be only at this time that I could make a higher offer. The agent went on to say that even if I was to offer a higher price at this time that it may be refused as the buyer may be a near to completion and in a stronger position. The agent refused t.o accept or put my higher offer to the seller before the offer was published
Is this correct as I would have thought the agent should have phoned me the moment someone made a higher offer and gave me the chance to ammend my bid, I also would have thought they should have put my higher offer to the seller as soon as I made it today instead of refusing to accept it.

G_M

An agent is obligated to put all offers to the vendor. Put it in writing.
Of course the vendor may not accept it if a) it is still not as high as the other or b) the other buyer is closer to Exchange.

Repossesions are horrendous.