Help - offer rejected and we SSTC

Tyders

3 points I would make on the above comments;

Personally I dont find the above quote offensive as if you have worked in this field you soon realise its the truth. Please dont take this the wrong way but A lot (but not all) of people who are not from the UK or who are born into a Pakistani/Indian family etc play the same game. They will offer very low, then take the mick by sending family members over etc. In my experience (and this is based on my personal experience) people of these origins do overall play games.

You are not only paying for advertising - I understand they didnt advertise but you pay for them to obtain a buyer of which they did. They will also be progressing the sale i.e. making sure the solicitors do their job, that mortgage offers are in and should be chasing the case every few days. This inturn bares costs and is part of the service they are offering.

Last thign is dont get your friends to go and view the house. I can personally tell by asking some questions if people are swinging the lead and it will be found out. For example I know every house for sale in my area and 'most' private ones'. Also any agent worth thier salt would do a chain check i.e. if your friend put an offer forward you would need to be SSTC for it to be taken seriously. If thats the case I would want your chain details i.e. who you are seling to etc. Without this i wouldnt pass on the offer to my vendor as i could in reality be wasting their time.......

Just my thoughts

icklejulez

Tyders wrote:

Also any agent worth thier salt would do a chain check i.e. if your friend put an offer forward you would need to be SSTC for it to be taken seriously. If thats the case I would want your chain details i.e. who you are seling to etc. Without this i wouldnt pass on the offer to my vendor as i could in reality be wasting their time.......

Just my thoughts

Isnt it the vendors choice as to decide whether to accept the offer and your job to give advice? Personally Id be appalled if you were my agent.

AndrewSmith

sminty wrote:

Hi everyone

We live in a lovely semi in a village, but really want a detached. there are some new builds that have been up for about 18mths and not selling well (not in the best part of village)

We really like one that has been reduced from £185k to £175k so put our house on the market, 2 days later our house has sold. The agents did nothing but put a sign up and we haven't signed our agreement with them yet or had our property details through to us for approval - do we still have to pay full fee??? Hardly seems fair.

Why is it not fair? They have sold your house within 2 days for heaven's sake. Would you be happier if they had been advertising it for weeks nad took 2 month's to sell it? Stop quibbling about their fee, they have done well to sell it in 2 days.

Also the (only) house we are interested in , when we put an offer in today it was turned down initially for £158k the EA said they were looking for more near £165k to £170k. So I offered £164k to include carpets. The EA asked some questions about our situation and I said we are in a chain ready to proceed and have only just sold ouyr house. Well EA came back saying offer rejected and they won't budge on asking price WITHOUT carpets. !!!! I feel they are playing me cos before they realised how keen/desperarate we were they were prepared to accept less (so EA says)

Don't forget it's not the estate agent who makes the decision but the vendor. Yes the agent may influence the vendor in whether to accept your offer but it is the vendor who will make the final decision.

Also as the property has already been reduced by £10,000 you will be very lucky to get any kind of reduction close to what you are asking for, especially if the vendor is a developer.

I told them "no thanks" and have since been sat shaking, not sure what to do really. Trouble is we put our house on market expecting to get our new one cheaper and now we can't afford the asking price we may have to withdraw. But I can't help feeling the developers of our new house are just being stubborn and would accept our top offer if they were sure it was our final offer. We can't go any higher

I don't know what to do.

1) Your property sold in 2 days, maybe it was underpriced.
2) NEVER assume that you will be able to get a property for less than the asking price especially if that property is a newbuild. You are now at the top of a chain that cannot proceed.
3) Prepare properly next time, working out your figures and affordability before selling and offering on another.
4) If you can't go any higher and the developer won't accept your offer then I'm afraid there is nothing you can do.

pawpurrs

Well said Mr Smith.
You seem to have assumed that you will get the property for a certain price, if you put your house on the market just in order to buy x property, you should have prepared to do figures before accepting your offer.

What price did you accept on your own? Im guessing it wasnt as much as you are expecting off the next one.

Tyders

icklejulez wrote:

Isnt it the vendors choice as to decide whether to accept the offer and your job to give advice? Personally Id be appalled if you were my agent.

Think about it this way. Mr smith strolls in and looks at a house. he offers the asking price but does not want to tell me who he sold through or any details. I will only advise my vendor that I received an offer that I could not substantiate if they were SSTC i.e able to proceed. Due tot his i would advise him to decline the offer.

This is what most if not all corporate companies do - in fact many will make people see their financial guy before putting an offer forward.

Or would you prefer your agent to put through offers that have no solid standing thus wasting your time. Remember this is an emotional thing to go through as a vendor and frankly agents are here to also filter out the wasters.

Another example is a person offering on a house when they havnt got a mortgage in place - its the same as not being SSTC, a bit of a waste of time.

I hope you understand where i am now coming from.

AndrewSmith

Tyders wrote:

Think about it this way. Mr smith strolls in and looks at a house.
.

Co-incidence? :rotfl:

Doozergirl

icklejulez wrote:

Isnt it the vendors choice as to decide whether to accept the offer and your job to give advice? Personally Id be appalled if you were my agent.

It is totally normal practice. I won't take any offer seriously until an estate agent gets the offer verified.

When it's your life plans potentially being messed up by timewasters? Personally, I'd be appalled if an agent couldn't root them out!

Tyders

AndrewSmith wrote:

Co-incidence? :rotfl:

glad you noticed! :rotfl:

Rachman_2

Tyders wrote:

This is what most if not all corporate companies do - in fact many will make people see their financial guy before putting an offer forward.

there is no way on earth I am going to tell your financial guy anything - easiest sharp practice in the book - and have told several agents that when they've tried it - they fold - I don't know what level of the market you are talking about - but if you told me that, you'd be getting a very rapid flea in your ear, no matter how obseqious and apologetic you pretended to be..... - I am not there to be wasting your time, so don't waste mine on games - if you are a proper agent, you have done that diligence before showing me round anyway...... - the usual what do you do, what's your address, been there long questions......

Rachman_2

Rachman wrote:

there is no way on earth I am going to tell your financial guy anything - easiest sharp practice in the book - and have told several agents that when they've tried it - they fold - I don't know what level of the market you are talking about - but if you told me that, you'd be getting a very rapid flea in your ear, no matter how obseqious and apologetic you pretended to be..... - I am not there to be wasting your time, so don't waste mine on games - if you are a proper agent, you have done that diligence before showing me round anyway...... - the usual what do you do, what's your address, been there long questions......

Plus your financial guy is supposed to be independent and is supposed not to say anything - not that they keep that (I won't mention Foxtons by name......, doh).