can anyone make any sense of this house buying conundrum?

suebfg

So we were buying a house last year but had to withdraw from the purchase as the house was downvalued and the vendor refused to drop the price.

The house is still on the market so we contacted the estate agents last week and were told that they had had no further offers but the vendor was still refusing to budge on price.

I have now heard from a friend (as it a close knit area) that they know someone who has recently put an offer in on that house, at considerably less than we were prepared to pay, and whilst that offer was refused, the estate agent advised them that the vendor would accept a slightly higher price (which is still considerably less than we were prepared to pay).

I can't make head nor tail of this. Why would the estate agent say that their vendor was refusing to budge? I do trust my friend's word.

Annisele

I suspect that when the agent spoke to your friend, they meant "we think a slightly higher offer would be appropriate, and if you make it we'll do our best to persuade our client to accept so that we get our commission".

When they spoke to you, they might well have meant "we did have another offer, and we really really tried to get our client to accept it, and we're now certain that our client won't accept one penny less than the price they say they want".

go_cat

Don't forget the ea commission is worked out on usually sale price .

You could call thir bluff saying I know you have an offer lower than ours, our original offer stands for x period of time

It could be a stuburn vendor who thinks their house is worth more than it is.

You may have to walk away from this one

suebfg

We know that this is a difficult vendor from our dealings 12 months ago. But it was couched to my friend's friend as 'they will accept a price of £xxx' which is approx 10% lower than the price we tried to renegotiate to last year.' The friend's friend refused to go in any higher so it is stalemate.

Is there any reason why an estate agent would not progress things for us when we are prepared to pay more and are completely chain free?

go_cat

You need to speak to them Monday. They will want their commission

Good luck .. You obviously love this house

suebfg

I feel quite upset about the whole thing tbh. We are cash buyers in rented accommodation so I can't understand why the estate agent would mess us around. Unless my friend has been misinformed.

wierddumpling

It's been 12 months and still no sale. Try the estate agent again, prehaps the vender is willing to budge a bit now, no harm in re- submitting an offer. You're a cash buyer with no chain they'd be mad not to hear you out.

Pitlanepiglet

Have you considered that the agent has passed on your offer and that the vendor may not want to sell to you?

I once refused to sell my later grandmother's flat to a guy who was a complete muppet - he'd been difficult at the viewing stage and was then trying to gazump someone who was in a position to proceed and who's offer I had accepted. He then kicked up an almighty fuss about the agent "not passing on his offers". I didn't trust him, I was concerned that we'd get near to exchange and he'd start playing games again

suebfg

That has crossed my mind but we had a very good reason not to proceed after the house was undervalued - we were not difficult buyers and were prepared to proceed albeit at a lower price. The difference between the price we were prepared to pay and the price they are allegedly now open to accept is approx £30k so it is difficult to explain on that basis.

suebfg

I have to add that the vendor was very difficult last year and held out for weeks for an additional £1k (which is a drop in the ocean compared to the value of the house).

WATTY1978

I guess some estate agents dont play fair. no point in trying to figure out why. they just do. stay away and avoid the games.
We put in a reasonable offer for a builder assisted sale. i know the builder got our offer and refused it the following week but our estate agent wasnt aware i knew this and kept saying they hadnt got a decision. they came back a few days later saying our offer had been refused but someone else had viewed that day and there offer had been accepted. hmmm. im guessing they were using us to progress a sale or they had a friend or insider who wanted to buy.
We were in a good position and quickly moved on. interestingly this house came back on the market shortly after but they never rang to see if we were still interested.
Good luck. you'll get your dream house either way just be mindful that not all is what it seems. good luck