PLEASE READ BEFORE POSTING
Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
We're aware that dates on the Forum are not currently showing correctly. Please bear with us while we get this fixed, and see Site feedback for updates.
Property sold - was told otherwise

andy78678
Posts: 7 Forumite
Hi all,
Am looking for some advice on how you would proceed given the following situation. Bit long but please stick with it.
We are first time buyers currently renting, deposit in place, looking to buy in quite a specific area. We have been keeping an eye out for properties and researching sold prices in the area since January 2013 and viewed our first property in the area in March.
After viewing the property the EA informed us that the vendor was open to offers.
The property was (in my opinion from our research) overpriced at 175,000, we made an offer of 155,000 (a bit on the cheeky side). The EA said he had already had an offer of 160,000, so I took this in good faith and offered 161,000 and told the EA; final offer please put this offer to the vendor and inform them we are FTB and can move quickly.
The EA phoned me the next day and told me the vendor had taken the property off the market. We thought fine, that's how it goes. Nothing of interest has come up in the area since.
Just checked rightmove sold prices and the property sold for 161,600 in April 2013 according to inland revenue.
Going to give the EA a ring on Tuesday and asked what happened, but just wondered what you guys think?
Could the vendor have sold privately?
Was I lied to by the EA?
Did they not take my offer seriously?
Either way I am a bit frustrated, because we are looking in a relatively small area where not a lot in coming up and we would have gone for this one.
Thanks for your thoughts,
Andy
Am looking for some advice on how you would proceed given the following situation. Bit long but please stick with it.
We are first time buyers currently renting, deposit in place, looking to buy in quite a specific area. We have been keeping an eye out for properties and researching sold prices in the area since January 2013 and viewed our first property in the area in March.
After viewing the property the EA informed us that the vendor was open to offers.
The property was (in my opinion from our research) overpriced at 175,000, we made an offer of 155,000 (a bit on the cheeky side). The EA said he had already had an offer of 160,000, so I took this in good faith and offered 161,000 and told the EA; final offer please put this offer to the vendor and inform them we are FTB and can move quickly.
The EA phoned me the next day and told me the vendor had taken the property off the market. We thought fine, that's how it goes. Nothing of interest has come up in the area since.
Just checked rightmove sold prices and the property sold for 161,600 in April 2013 according to inland revenue.
Going to give the EA a ring on Tuesday and asked what happened, but just wondered what you guys think?
Could the vendor have sold privately?
Was I lied to by the EA?
Did they not take my offer seriously?
Either way I am a bit frustrated, because we are looking in a relatively small area where not a lot in coming up and we would have gone for this one.
Thanks for your thoughts,
Andy
0
Comments
-
Let it go and move on.
You made a final offer of 161,000
Someone else made an offer of 161,600 and part of the deal was that the house was taken off the market (to stop other offers)
You can't change anything. The house has been sold.0 -
It occurs to me that "it was taken off the market" is factually accurate and also avoids having to upset you more by saying, "someone offered enough to be accepted and the condition was we take it off the market". i.e. you haven't necessarily been lied to.
In this scenario the EA doesn't really have a motive to make such a lie to you anyway. If they hadn't been instructed to take it off the market then no doubt they would have liked to bid you up some more, but they must have had such instructions.0 -
Hi tizerbelle, you're right we are now waiting for another property to come up, maybe it will be a better property, who knows!
The thing is that if the EA had come back to me (as we asked) and said a higher offer had been made, then I probably would have gone up.
I would understand if someone offered the asking price and said they wanted it taken off the market, but we are still talking about offers under the asking price here, so I don't see why the EA wouldn't try to get the best price for the vendor.0 -
Also, just to clarify (apologies I wasn't clear), the EA wording was that it was being taken off the market as the vendor was no longer selling.0
-
The thing is that if the EA had come back to me (as we asked) and said a higher offer had been made, then I probably would have gone up.so I took this in good faith and offered 161,000 and told the EA; final offer please put this offer to the vendor
Even if the EA did suspect you were bluffing, vendor may have taken you at your word, and EA does what vendor says.0 -
Try not to get in to bidding ears unless you can pay the adding price.
I think the estate agent was fairly good not pushing a bidding war. They prob asked both sides for offers. You said best and final... and others pipped you. Never mind you learn from the experience.0 -
Please don't take this the wrong way, but these sorts of questions come up all the time from FTB's who expect that EA's and vendors owe them some sort of duty to 'play fair'. The reality is that it is the vendor's house and they can sell or not, to whoever they wish, and they do not have to explain themselves or give any reason, let alone an honest reason, for proceeding or not proceeding with an offer.
It may also surprise you to learn that they can change their mind about selling right up to exchange of contracts (in England and Wales) and have no liability to you for all the surveyor/solicitor/mortgage fees you have incurred in the meantime (it does't happen very often, but when it does, you just have to swallow the expense and move on).
The estate agent acts for the vendor and doesn't have any obligation towards you, he got a sale for the vendor, that's what he is paid to do, it is the vendor's decision to accept or come back and negotiate with you. It doesn't always hang on the price alone, the position of the purchaser also is a factor - for example it is possible that the buyer had downsized and was paying by cash with no chain, which may make him preferable to someone who needs a mortgage.I'm a retired employment solicitor. Hopefully some of my comments might be useful, but they are only my opinion and not intended as legal advice.0 -
@neas
I think that's about right.
I find it difficult because on the one hand I want to be assertive with the EA so they don't think they can keep coming back to me saying the vendor wants more towards the asking price and goes up and up, but I also want to want to be negotiable and find a middle ground.0 -
If you offered in March and the sale price was recorded with the land registry in April it could well have been that the wheels were already turning for the sale that went ahead. Solicitors involved, draft contacts drawn up and searches done perhaps. Although even if this was the case the vendors could still have chosen to consider your offer and/or pull out of things with their buyer. One of the Estate agent round where I live is notorious for continuing to advertise nice looking houses in their window even after the new owners have moved in - maybe your EA didn't wish to admit it was already "sold".0
-
Of course it's quite possible the Estate Agent didn't know either - they soon will!"You've been reading SOS when it's just your clock reading 5:05 "0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 348.4K Banking & Borrowing
- 252.1K Reduce Debt & Boost Income
- 452.5K Spending & Discounts
- 241K Work, Benefits & Business
- 617.4K Mortgages, Homes & Bills
- 175.7K Life & Family
- 254.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards