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Agent making up offers
doyles11
Posts: 11 Forumite
Can an agent make up that an offer has been matched. In this day I would have thought this can't be done, is it legal?
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Comments
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Legal, yes, moral, not really, but then house buying is a game. It's a game of wits, hubris and gumption. Put it this way, yu sit down to a table of poker, are you so innocent as to believe the other players are going to show you their hand and tell the truth? They are not. The purpose of an estate agent is to sell the house on behalf of the vendor for the best possible price. It is the purpose of the buyer to get their own survey done, make their own decisions, engage their own solicitor and play the game to win. Don't ever believe what an estate agent tells you...double check and check again. Ask as many questions as you feel are necessary and do your homework. Stop trying to buy a house like you buy a pound of sugar from the supermarket, they are not the same transaction at all. You'd be eaten alive in countries where markets have no set published price, the art of negotiation and barter really is dying in this country.Debt Free! Long road, but we did it
Meet my best friend : YNAB (you need a budget)
My other best friend is a filofax.
Do or do not, there is no try....Yoda.
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Thanks, But the offer was only matched so what happens then!0
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Same as what happens normally - you decide if you want to increase your offer (I assume you have one on the table).
If you don't, and withdraw your offer, where does that leave the agent? With a non-offer from you, and an 'offer' that won't lead to a sale, and therefore won't yield any commission for them.0 -
Ok thanks, so assume they offer is real, why did they not go higher? Feels like they want it to go to a sealed bid - but I can't see the benefit for either party. Am I missing something?0
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How do you know the other offer is made up?Je suis sabot...0
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Sorry not sure what you mean? Our offer is 265k and the other bid we have been told is exactly the same. Thanks any help appreciated before take the next step.0
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Depends on what sort of position you're in, how proceedable you are in comparison to the other 'bidder' I suppose. For example, a cash buyer who's not in a chain is going to look much more tempting to a seller, if both buyers are offering exactly the same amount of money.0
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Depends if you can pay more. This was done to me once (however I was naive then and believed them) I offered 145k. They said another bid came in - I went up 2500 then they rang up and said the other bidder had gone to 150k I said I couldn't beat this and was very upset. Then the next day they rang and said the other buyer pulled out so my 147,500 was accepted. I realised than I'd be conned0
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Sorry not sure what you mean? Our offer is 265k and the other bid we have been told is exactly the same.
This was in response to
"How do you know the other offer is made up?"
and your OP said
"Can an agent make up that an offer has been matched"
Can you see why he's asking how you know the other offer has been made up (or why you suspect it)?0
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