Offer accepted but house still on Right Move

SimonMrGreenWard

mrstinchcombe wrote: »

Or is it because estate agents welcome another offer as they promote gazumping?

I don't know a single estate agent that promotes gazumping. Majority only care about being paid and gazumping rocks the boat. As most earn on a percentage, even a £10k increase from another buyer just isn't worth the risk.

rose28454

SimonMrGreenWard wrote: »

I don't know a single estate agent that promotes gazumping. Majority only care about being paid and gazumping rocks the boat. As most earn on a percentage, even a £10k increase from another buyer just isn't worth the risk.

She made the offer last Wednesday and it was accepted. She offered £5000 more than it was offered at because it had recently been dropped by £35000 for a quick sale and she really wants it. My Brother in law is disabled after a stroke and this is a really nice bungalow with land and buildings. My sis has a catering business and this means she can store all her equipment and her mobile kitchens. It will also make things easier for my bil.
She has lost a couple of properties recently after making offers so is a bit worried about it being on sale. Also she had her own house for sale as sole agency and had a HIP done ( before they were abolished) and was told she would not have to pay for it if she stayed sole agency. However when she went multi agency she received a bill for it and paid it. However when she spoke to the agent he said if they sold her house they would refund it. When they did find a buyer and asked they said she would get it back only if she used their solicitor ( which is the same as the buyer). She agreed to this because of the HIP money but now they are refusing to refund the Hip money.So she is feeling a little down about the whole thing and does not want another hiccup

SimonMrGreenWard

rose28454 wrote: »

She made the offer last Wednesday and it was accepted. She offered £5000 more than it was offered at because it had recently been dropped by £35000 for a quick sale and she really wants it. My Brother in law is disabled after a stroke and this is a really nice bungalow with land and buildings. My sis has a catering business and this means she can store all her equipment and her mobile kitchens. It will also make things easier for my bil.
She has lost a couple of properties recently after making offers so is a bit worried about it being on sale. Also she had her own house for sale as sole agency and had a HIP done ( before they were abolished) and was told she would not have to pay for it if she stayed sole agency. However when she went multi agency she received a bill for it and paid it. However when she spoke to the agent he said if they sold her house they would refund it. When they did find a buyer and asked they said she would get it back only if she used their solicitor ( which is the same as the buyer). She agreed to this because of the HIP money but now they are refusing to refund the Hip money.So she is feeling a little down about the whole thing and does not want another hiccup

This is why estate agents have such a bad name! That is 100% absolutely disgusting the way their agent has acted.

Makes me so angry. If she has the confidence, she should tell them to go and take a running jump, that she'll use her own solicitor.

The same solicitor can't act for buyer and seller.

rose28454

SimonMrGreenWard wrote: »

This is why estate agents have such a bad name! That is 100% absolutely disgusting the way their agent has acted.

Makes me so angry. If she has the confidence, she should tell them to go and take a running jump, that she'll use her own solicitor.

The same solicitor can't act for buyer and seller.

Apparently the same solicitor's practice can act for buyer and seller as long as two different actual solicitors act for each person. I did suggest she tell them to take a running jump but she thinks it will mean things happen faster. However she called the company that did the HIP and they told her to write to their head office about getting the money back as promised. However the estate agent's office she used wont be getting any business from anyone I know as I will not hesitate to recount the story of how they behaved to as many people as possible.

rose28454

I was having a quick look at Right Move for my sis and noticed that you can amend the search to include properties that are SSTC ( as is the property she is hoping to buy) but the one she has offered on ( and had the offer accepted) is just showing as still for sale. Strange!

lee636

rose28454 wrote: »

I was having a quick look at Right Move for my sis and noticed that you can amend the search to include properties that are SSTC ( as is the property she is hoping to buy) but the one she has offered on ( and had the offer accepted) is just showing as still for sale. Strange!

Check again after a) searches are done (it will probably still show for sale) b) after exchange (id expect it will go straight on as sold after this point) or c) call and try and arrange a viewing, if you get one, worry. If you dont and get told its sold stc then chill.

rose28454

lee636 wrote: »

Check again after a) searches are done (it will probably still show for sale) b) after exchange (id expect it will go straight on as sold after this point) or c) call and try and arrange a viewing, if you get one, worry. If you dont and get told its sold stc then chill.

I called the estate agents yesterday and was told it is under offer and they took my details in case it falls through. However it is actually Sold Subject to Contract so should show as that on Right Move. Sis is hoping the searches are done today and mortgage confirmed and then she is going to ask again to have it removed from the market or at least shown as SSTC. Thanks for all your input everyone.

westv

rose28454 wrote: »

Apparently the same solicitor's practice can act for buyer and seller as long as two different actual solicitors act for each person.

100% correct. That's what happened when I sold and it all went through with no problems although I wouldn't have been forced to go down this route if I'd had another preference.

tux900

rose28454 wrote: »

I called the estate agents yesterday and was told it is under offer and they took my details in case it falls through. However it is actually Sold Subject to Contract so should show as that on Right Move.

Under offer = sold subject to contract = non-binding offer accepted but it hasn't got beyond that. Any attempt at forcing a difference in interpretation is moot and missing the point.

Either way it is a million miles away from having been sold and so the sooner some financial commitment is demonstrated (anyone can make a verbal offer - it carries no value whatsoever) then the sooner the vendor can be sure they are heading in the right direction hence no need to actively market it.

The best, and only, thing your sister can do is stop worrying about what it says on RightMove and instead pull her finger out and get the wheels in motion. The quicker she acts the shorter the window in which the whole thing can collapse as per her previous purchases.

Mathew

rose28454

MJNewton wrote: »

Under offer = sold subject to contract = non-binding offer accepted but it hasn't got beyond that. Any attempt at forcing a difference in interpretation is moot and missing the point.

Either way it is a million miles away from having been sold and so the sooner some financial commitment is demonstrated (anyone can make a verbal offer - it carries no value whatsoever) then the sooner the vendor can be sure they are heading in the right direction hence no need to actively market it.

The best, and only, thing your sister can do is stop worrying about what it says on RightMove and instead pull her finger out and get the wheels in motion. The quicker she acts the shorter the window in which the whole thing can collapse as per her previous purchases.

Mathew

She has acted as quickly as possible and is waiting for survey and mortgage offer. She has nearly 55% deposit in cash and has a good profitable business to support the mortgage. One of the previous purchases fell through as it was a reposession and someone came along with a better offer, the next was a lovely house but there was some problem with part of it overhanging the neighboroughing property and an indemnity insurance was required from the buyer who refused to comply and the last one she was kind of misled by the estate agents in that her offer had been accepted and how serious she was ( she was so keen to get that one she offered to put down a £5k non refundable deposit to show good faith). She has a good business head but is a little afraid to question Estate Agents Solicitors as to whether they are always right. I on the other hand am a bit more tenacious and so I am helping her with this. I have gained so much knowledge on here and am using it to help all I can including myself ( I have a lot of debt but I am working my way through it but will probably have to sell up myself soon but that is another story)