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Fake cash offer?
joefrankenheimer
Posts: 6 Forumite
Hi
earlier in the week we had an offer accepted for a corporate sale. Not listed as sold subject to contract, just 'Public Noticed'. Then Friday evening at 5.20pm, the agent phones and says that a matching offer has been made, in cash, and so we will likely lose the property.
How suspicious should I be that this isn't real? The property was on the market for a long time, and the fact of the timing of the call (corp sale so no contact possible over weekend), and the amount matching exactly (so we can't wait and see what the next 'public notice' price was).
We could afford more, and would be slightly sad to lose the place, but really don't want to raise our offer.
earlier in the week we had an offer accepted for a corporate sale. Not listed as sold subject to contract, just 'Public Noticed'. Then Friday evening at 5.20pm, the agent phones and says that a matching offer has been made, in cash, and so we will likely lose the property.
How suspicious should I be that this isn't real? The property was on the market for a long time, and the fact of the timing of the call (corp sale so no contact possible over weekend), and the amount matching exactly (so we can't wait and see what the next 'public notice' price was).
We could afford more, and would be slightly sad to lose the place, but really don't want to raise our offer.
0
Comments
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played this game once many years ago, was a repo and as soon after we made an offer and were going throught the survey amd mortgage fee stage they "found" another buyer who matched every bid of ours so I made a stupid offer (way over the odds) which also got matched and walked away.....Ex forum ambassador
Long term forum member0 -
Just tell them that you are maintaining your offer for one week and if they do not confirm by next Friday, you will walk.
Do not bid up.If you've have not made a mistake, you've made nothing0 -
Browntoa - sounds like you did the right thing in the end.
Ras - I think that sounds like excellent advice.
Further researching has shown that the agent and the vendor company are part of the same group. Doesn't bode well.
I was thinking of laying the situation honestly to another agent the place is listed with, to see if they can find out if the other offer is genuine.
Thanks for the advice!0
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