fake offer? :eek:

ning227

Hi there,

when I made an offer on an house, I was told that there were two other people who had put in equal offers. The estate agent only said we are "all in a similar position" and that he couldnt pick one of us over another so would let us bid for it. The following three days, I found only the other buyer and I were biding for the house. So we started raising by 1000 pounds each day. On the fourth day, I offered another 1,500 in the morning. And, in the afternoon, the agent told me that although the other buyer was going to offer even higher, the seller decided to go for me at this point as my offer was cash ready to go. I felt a bit weired that the seller did not go for the highest offer.

Does anyone think that I had the right to ask the estate agent to tell me the other two people's exact situation in the very beginning? (e.g. if they had a cash offer but needed to sell) If I knew that the other person was not in an equal situation to me, I would not offer that much becasue I knew the vendor was in another country and was going to emmigrate. :mad: :eek:

Does anyone think the other buyer could be a friend of the landlord and he just wanted to raise the bid? How would I be able to find out?

many thanks:money: :beer:

Jorgan_2

You won't be able to find out I'm afraid.

The seller may have accepted your cash offer over that of another who is obtaining a mortgage, as cash is perceived to be a quicker way of buying/selling. If the other buyer had cash but needed to sell, they are not a cash buyer, they may be classed by the EA as cash from related sale or house to sell on market.

The seller may not have accepted a lower offer from yourself, they probably had a figure set in their mind that they wished or needed to achieve. The fact that they are emigrating may have no bearing on the offer they accepted.

How would you feel if you lost the property to another buyer for £1000 or even less?

A number of people have posted on here recently about properties with multiple bids, some have thought the agent was playing them off against a buyer who didn't exist, didn't increase their offers & lost the property.

mandi

Hi Ning,

Its entirely up to the Vendor as to which offer they accept.. It usually depends on the circumstances of the offerer


Ie are they a FTB or have they sold STC, with a complete chain, perhaps they live in rented..or maybe a cash buyer ( ie no mortgage).. EAs get a lot of bad press, but they work for the seller, and not the buyer.. Without seeing the offers on the property I cant advise you.. Enjoy your new house though

Mandi