Is this fair?

MarkBargain

Guest101 wrote: »

Ethically questionable?? Huh? You've lost me there

Gazumping.

If the seller had agreed a price with someone else, I would leave it there unless that sale fell through.

Annisele

be96erj wrote: »

thanks for the replies, but has the EA broken any procedures and void his contract with the seller for not contacting me beforehand?

Once somebody else made an offer, the EA was legally obliged to pass that offer to the vendor. The EA didn't have to (and shouldn't have) contacted all other viewers before passing on the offer.

If the vendor had wanted all other viewers to be informed of the offer, he could have asked the EA to do that - but that would have been weird. Even if the seller did instruct that, the EA's failure to do it would be between the EA and the seller.

Usually if a buyer wants to make an offer, they contact the EA to say what that offer is. IMO it's a little unusual for a buyer to wait to be invited to make an offer, which seems to be what you did.

ognum

sammyjammy wrote: »

Just because the Estate Agent says they were too negative doesn't mean it's true!!

Of course it doesn't,but, the EAs job is to find the best purchaser for the property.

For whatever reason the OP did not come across as a great purchaser, it appears from his post that he wanted to use negativity as a bargaining tool and his plan failed!

As I said live and learn!

harrup

Ok, this is how understood the OP message:

The day they received an offer on their own property and were thus in a MUCH better position to make an offer themselves - as beforehand they would have non-proceedable, regardless of how complimentary they may have been the about the property the viewed - said house they liked went "Sale agreed".

Unless the EA had sworn on his kid's life that he would notify them at the time someone else puts in an offer, I can't see that there are reasonable grounds to complain about or to the EA. Be that to the vendor or anyone else.

However, I wouldn't just throw in the towel and give up at this point either.

Instead, I would compose a letter addressed to BOTH the vendor and the EA. Explaining our dismay that the house we had liked very much ( describe all the particular things you loved about the house) was now SSTC even though we were now finally in a good position to make a formal offer. I would candidly add that I deeply regret perhaps having it played too cool at the time of viewing, but that this was goverened by a mistaken belief that it would be foolish to appear overly keen.

And that I hoped that they would still consider our offer to the amount of £££. Yours sincerely.....

TBH, unless you are prepared to offer a good chunck MORE money than the other party....I cannot envisage that the vendor is so moved by the letter that they would renege on their agreement with their current buyers.

But since you DON'T know what offer they accepted, give it your best shot and very best offer, and you never know - you just might get lucky. Just be prepared that a bidding war might well ensue which may turn out VERY costly. Are you willing AND able to go there? Could you or would you honour a sale price above and beyond the AP? Or would you get cold feet in the 12th hour leaving the vendor high n'dry after the other potential buyer has left in a mighty and justifiable huff?

Ask yourself the above questions and be sure to think about the answers.....because the vendor and EA most certainly will. No, they won't ask you, but they will make an appropriate risk analysis.

Lastly, remember that a vendor prepared to go back on his word with the previous buyer isn't exactly a good omen for you. What is to say that they won't accept someone elses offer yet again? Just this time its YOU who is floored because the house you thought was going to be yours is gone from under your nose. Hmmm.......

grey_gym_sock

or you could say you won't attempt to gazump, but ask them to let you know if the agreed sale falls through for any reason.

InMyDreams

If this is the house of your dreams, then go ahead and offer. If they accept, it's not you doing the gazumping, it's them (if they accept your offer). Just be aware that they may then do the same to you if they are that sort of person.

But really, there's guzumping and guzumping. After 24 hours, before anyone has shelled out more money or wasted weeks of their lives is totally different to days before an anticipated exchange.

ILW

be96erj wrote: »

I have found a house that my partner and I love. We went and saw the property twice and I thought we said all the right things. On the day we accepted an offer on our property, the house we wanted to buy, also went to STC.

I called the EA and asked why he did not call me, so that I would have got a chance to make a offer myself. He said I was too negative when I came the second time and that he knew of people that would make an offer and then lower the price once other buyers are no longer around! I could not believe the cheek of the man! I have to admit I was a little negative because I thought I could negotiate a better deal- but I thought most people do this!

Can I do anything about this? Although I would love to tell the EA to shove the house up his backside, we simply love the house too much to do so!

Can anyone offer me any advice? Can we do anything?

Thanks!

Sounds like you were a bit too clever for your own good.
You will never negotiate much from a position of not looking intersted. Nobody will take you seriously and just assume you are playing games. You just come over as a tyre kicker.

DRP

grey_gym_sock wrote: »

or you could say you won't attempt to gazump, but ask them to let you know if the agreed sale falls through for any reason.

sounds the right way to proceed.

you could even let slip the approximate amount you'd be willing to offer if by some freak chance the house becomes available again *waggles eyebrows*

dktreesea

Gazumping by the vendor isn't illegal in Britain. Make your offer, including, as an earlier poster suggested, posting it under the door of the vendor as well as in writing to the agent. Then it's up to the vendor. They can cancel their other sale, assuming they haven't already exchanged contracts, and sell to you instead if your offer is better.