Do EAs reply to your offer in writing?

unhappy_shopper

I have made an offer on a property which I viewed last week over the telephone to the Estate Agent concerned. When I made the offer, the EA was saying that the offer is quite low and he will ask the vendor to reject my offer. Even after 5 days, he hasn't yet come back with the response from the vendor.

My question is
a. whether the EA will inform me over telephone that the offer has been accepted/rejected?
b. Are the EAs supposed to inform us in writing about the offer?
c. If this offer is not accepted, I am waiting to offer on another property. Can I have multiple offers, in limbo, even though I plan to buy only one?

ruggedtoast

If you give a written offer (make sure it says 'subject to contract') then they are legally obliged to pass it to the vendors.

You can make as many offers as you want, if youre fortunate enugh to have found more than one house you like.

Grimbal

I'm surprised that an EA would ask a vendor to reject any offer - was it really very low indeed? Did you qualify your offer with any plus points for you as a potential purchaser? I recently made an offer of 80% of asking & the EA was happy to pass on that offer in the light of us being chain free puchasers with finances in place

flora48

I would expect the EA to contact you by phone in the first instance. My offers were confirmed in writing from the vendor's estate agent. Remember that the vendor may want a few days to consider an offer, especially if it is on the low side. As a previous poster has said you can make as many offers as you like but I certainly wouldn't want to be dealing with someone who was not entirely serious about buying my property. The process is stressful enough without spurious offers.

Grimbal

but why would a low offer necessarily be a spurious one? The house may be overpriced, may have been on a long time, the potential purchaser may have alot going for them so that a low offer may not be something that should be rejected out of hand.

flora48

By spurious I meant the buyer putting in offers on several houses at once, if that is the case then some vendor is going to have hopes raised and dashed because the buyer cannot be serious about them all surely.

Grimbal

Ah, I see! I have to say though, as a seller I wouldn't be bothered unduly about a potential buyer touting around - I don't consider anyone comitted until they have, at a minimum, had a survey carried out. I'm then only 100% convinced they're genuine after we've exchanged !

unhappy_shopper

Grimbal wrote: »

I'm surprised that an EA would ask a vendor to reject any offer - was it really very low indeed? Did you qualify your offer with any plus points for you as a potential purchaser? I recently made an offer of 80% of asking & the EA was happy to pass on that offer in the light of us being chain free puchasers with finances in place

On the first house, our offer was around 90% of the asking price. We have the deposit in place and the mortgage advice/consent from lender bank for the rest. Also, we are not part of any chain. We made the decision to offer the price mentioned above after seeing the sold prices of other properties in the same road. As the EA told us that he will recommend the vendor to reject our offer, we looked at other houses with other EAs and made the offer on the second house today. We are yet to hear from the 2nd EA. Hope this makes sense.

unhappy_shopper

flora48 wrote: »

I certainly wouldn't want to be dealing with someone who was not entirely serious about buying my property. The process is stressful enough without spurious offers.

Ours was not a spurious offer. We intend to buy as soon as possible.

Cissi

I don't think you've done anything wrong here - if the vendors of the first house haven't come back with an answer in 5 days, it's their loss - and if the EA hasn't even passed on the offer then they're seriously at fault. An offer at 90% of asking price should at least be given the courtesy of a reply in my opinion, anything else is just rude! Sounds like someone (the EA or vendor) may be biting off their nose to spite their face - at the very least they should be coming back with a counter offer.

The fact that you've found two houses that you like should play in your favour and help you negotiate wisely. When the two EAs do come back with replies, play it cool and don't allow yourself to get carried away and make higher offers than you feel the houses are worth

Grimbal

Sounds like you've been very sensible, and carried out research to increase confidence in your offer. I'm astounded that the EA thought a 90% offer was quite low!