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HELP - Estate Agent trying to con me ? Had a higher offer ??
stylus360
Forumite 442 Posts
Hi All
Looking at a flat locally to me that is in a block, it has been on the market for a few months and price has not moved.
I have just rang them inquiring about the lease as its in a block and they said they have no idea about cost except its for 100 years ??
She then stated i should find out myself ? No idea where to go ??
I then stated i was considering putting an offer in and she said they have received an offer OVER the asking price already......
Why would somebody offer OVER initially when its been on the market for ages ??
Anyone advise me here, can i ask for proof of the offer ?
How do i find out about the lease etc
Cheers
Looking at a flat locally to me that is in a block, it has been on the market for a few months and price has not moved.
I have just rang them inquiring about the lease as its in a block and they said they have no idea about cost except its for 100 years ??
She then stated i should find out myself ? No idea where to go ??
I then stated i was considering putting an offer in and she said they have received an offer OVER the asking price already......
Why would somebody offer OVER initially when its been on the market for ages ??
Anyone advise me here, can i ask for proof of the offer ?
How do i find out about the lease etc
Cheers
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Replies
It will be accepted, or rejected, as appropriate by the vendor. No, you don't have the right to see other offers in a private treaty sale. Only public auctions make others' bids visible to all.
In your offer letter (kingstreet above) make the offer conditional on the seller confirming the costs for the year 2012-13 (give a time limit for your offer?)
Bear in mind as you go forward the significance of
a) the condition of the building as a whole and
b) whether there is sinking fund
If the roof will need replacing shortly (cost shared between all lease-holders) and there is NO sinking fund built up, then you'll have to find your share. If over the last 10 years a sinking fund has built up, then the money is already there....
As an investment you may need to pay more than you think the property is worth if it returns a profit.
Submit your offer and be ready to move quickly if accepted.
If they refuse then look elsewhere,.
If you can complete quick and have the mortgage offer ready it helps.
Go to http://www.landregistry.gov.uk/public/online-services
1) not all leases are held by the Land Registry. The Lease Title may refer to the lease itself which may not be available online
2) it is unlikely to specify the annual service charge (though it will specify the ground rent).
as an experienced buyer of flats I make it very clear to agents that unless they can supply me with concrete lease details before I make an offer, I shall be walking.
It is just laziness not supplying this information
tim
This is exactly my opinion, i will ask them to find the details as the Vendor, i personally think it's very unprofessional.
If they don't supply the info i will walk as advised above.
Thanks for replies, much appreciated.