OMG can you believe this !!!!!!!!!!

trademark

My house sold some 4 months ago, we are looking for our dream home and its proven difficult although our buyers have shown real empathy and patience up to now.

recently we found a house we liked for £340k and offered £300k , it was refused with a counter offer of £330 so we upped the offer to £310k and waited saying it was our final offer.

we wanted them to drop to £320 so we could meet them in the middle and pay the £315k we think the property is worth

I spoke to our estate agent about the house as he had had our buyers on the phone asking about progress, i asked him to make tentative enquiries to the agents who were selling the house we are after, told him our plans and clearly stated that under no circumstances should he talk money.

then this ???????

today my phone started going mad, voice messages from both agents, i listened and both said my new offer of £315k had been rejected and there was a revised counter offer from the venders.

A new offer had been placed by an agent but neither will admit it, instead they have called each other liars.

this has runied our plans of staying cool and waiting for the vendors to drop and today i had a very heated conversation with the branch manager of my agent.

what do i do ?

i cant bin the agent as we have a ready and able buyer clause in the contract,

so if i pull out im liable for full fees, im not sure if i can place my notice of 28 days with them anyway as i feel our buyers may pull out soon

if my buyers do pull out does that mean i can give notice and leave the agent ?

Fang_3

That makes no sense whatsoever. Why are there two agents? Why are you paying an agent? It's not clear at all. Could you re-write in short and gentle words please?

Running_Horse

Much as I respect the man who sold our house, there is no way I would involve him in the negotiations to buy our next one. Why did you do that?

PasturesNew

trademark wrote: »

My house sold some 4 months ago, we are looking for our dream home and its proven difficult although our buyers have shown real empathy and patience up to now.

Key words: up to now

trademark wrote: »

what do i do ?

1. Chill out and stop overusing !!!!!! on the Internet.

trademark wrote: »

i cant bin the agent as we have a ready and able buyer clause in the contract,

so if i pull out im liable for full fees, im not sure if i can place my notice of 28 days with them anyway as i feel our buyers may pull out soon

if my buyers do pull out does that mean i can give notice and leave the agent ?

Get a grip. What you should do is stop f4nnying about with your poor buyer, sell them your house and move out, possibly into rented. Then take stock of your situation and continue to look for your dream home.

Separate the issue about "yeah, but, no, but, yeah, but, no...." with you/your agents and put your business hat on. Sell your house to the willing and able buyer and stop being so emotional about it. Also, if you go quiet on the matter of the house you like and refuse to speak of it, it might have dropped by the time you complete, or there might be another/better one by then.

DVardysShadow

Summary: Agent did damage with information he did not need to know.

Rhetoric Question: Why let him have the info?

DPJames

I think you are arsing about too much i'm afraid, your agent, prospective buyers, and the people you're dealing with will all think the same too. Your poor buyers must be saints waiting for FOUR MONTHS!!!! Offer them the 330 and move out. Or !!!!!! about all you like but at least move into rented and let your buyers have their house before they've had enough and then you'll have to start all over again and then come on here and moan about not being able to find a buyer or that you're unhappy about being offered less than what the original buyers offered.
Whatever the agents have done and said, they're only trying to speed things up because of your constant dilly-dallying. They'll be under pressure to get things moving, and if i was your buyers i'd have been on the phone everyday asking have those d!cks moved out yet or what?!?! It's been FOUR MONTHS MAN!!! One more week and i'm taking the offer back, OR lowering it!!

Give your head a shake eh??

trademark

maybe i should have been more specific so not to be demonised

we havnt got a mortgage so if we rent we will be hundreds out of pocket every month,

also when we sold our house my wife was able to transfer her area of work, now due to the credit crunch she has been told to stay put so it reduced the area of our search considerably as she is often on call.

we live in a cheap area so the amount of houses that come onto the market over £300k is actually less than 5% of homes offered for sale

yes i agree 4 months is a long time but we warned the buyers of the trouble we were having and the small area of our search,

our agents have been awful throughout so same question, if our buyers pull out can we change agents after giving notice

Emy1501

trademark wrote: »

maybe i should have been more specific so not to be demonised

we havnt got a mortgage so if we rent we will be hundreds out of pocket every month,

also when we sold our house my wife was able to transfer her area of work, now due to the credit crunch she has been told to stay put so it reduced the area of our search considerably as she is often on call.

we live in a cheap area so the amount of houses that come onto the market over £300k is actually less than 5% of homes offered for sale

yes i agree 4 months is a long time but we warned the buyers of the trouble we were having and the small area of our search,

our agents have been awful throughout so same question, if our buyers pull out can we change agents after giving notice

I suspect your agent will want their fee if you had a clause as suggested to pay the fee if they found a suitable buyer. Whether the clause would stand up in court and whether they would actually take it that far is anyones guess.

PasturesNew

If your buyers pull out, you might not get another one for another year. How'd you feel then? And what if, in that year, your house was worth £20k less? That'd be more than renting would have cost you.

sonastin

If the story you gave your agent was as confusing as your post maybe he thought you were asking him to put the offer in for you. Just because you were trying to play it cool doesn't mean you would get that house at £315k. If you're not willing to pay what the vendor wants you're not gonna get the house. And as there isn't anything else to choose from, you're not likely to get anything else so you're buyer will probably look elsewhere. So either offer what the vendor wants for the house you want to buy or stop wasting everyone's time and take your house off the market. And remember that what you'll have to pay to the EA if you pull out is probably the extra it'll take to secure the house you want so that everyone is happy...

Doozergirl

You were waiting for them to drop to £320k so that you could agree a price of £315k? You might have been drinking at 1am this morning but presumably you weren't when you looked into the crystal ball and planned exactly what and when your vendors were going to drop another £15k without even continuing negotiations with them? That's a big drop to presume that the vendors are going to do that.

If I were in negotiations with a buyer and they were £20k off my lowest price, I'd forget about them almost immediately. I certainly wouldn't be thinking I was well into the negotiations.

You're going to lose your buyer at this rate. But it looks like you can afford to wait for another one if all your buying negotiations are going to be at snails pace. No wonder your agent felt pressured into indicating where you were going next, the other agent had probably dismissed you. And now you don't even have a counter offer so you can guess they're not moving much from the £330k. Keep looking.


And your agent has been terrible? When you have a committed buyer (job done for the EA), when your buyers have been waiting for four months and calling your agent for updates which means that they are eager to move, bless them. Your agent is having to fob them off for you, you're now using the agent to do your buying dirty work, taking too long on wishful thinking negotiations which are actually quite urgent if you had any thought for your buyers at all and then going crazy when you asked the EA to stick their oar in and are surprised it hasn't gone your way (is wasn't going to anyway, by the sound of it - they just expedited that for you).

How can you be so blase about losing a buyer which you have strung along for so long, got your agent actively involved for this long and then seek not to pay them when your poor buyers pull out. If I were your agent and that happened, I'd be persuing you for the full fee for having a 'ready willing and able buyer'.

so, "OMG" I cannot believe you and the histrionics over nothing when its' you being a royal PITA. Harsh indeed but I bet your EA and your buyers would agree with me.