what to do - Dilemma

hazyjo

I'd be very tempted to ask for another viewing and make the vendors squirm. Can't get proof from the EA, so I would try to have a jokey conversation with the vendor about the other party/the increase in offer. Say something like 'We were so upset when we thought we'd lost it to the other party who came in and bid over what we offered! Love the house, but you did have our hearts in our mouths for a while there! Not sure what's happening with the market out there at the moment, blah blah, chit-chat, etc..'.

You should see them embarrassed, or looking puzzled saying 'what other offer?'. If the latter, THEN I would decide whether to go back down to my original offer and let them vendor have it out with the agent. Let them do it fee-free or something to recoup some of that money I'd dropped the vendor after the EA's underhand tactics.

You probably don't even know if they were proceedable, if indeed they even existed.

Jx

GM11

hazyjo wrote: »

I'd be very tempted to ask for another viewing and make the vendors squirm. Can't get proof from the EA, so I would try to have a jokey conversation with the vendor about the other party/the increase in offer. Say something like 'We were so upset when we thought we'd lost it to the other party who came in and bid over what we offered! Love the house, but you did have our hearts in our mouths for a while there! Not sure what's happening with the market out there at the moment, blah blah, chit-chat, etc..'.

You should see them embarrassed, or looking puzzled saying 'what other offer?'. If the latter, THEN I would decide whether to go back down to my original offer and let them vendor have it out with the agent. Let them do it fee-free or something to recoup some of that money I'd dropped the vendor after the EA's underhand tactics.

You probably don't even know if they were proceed able, if indeed they even existed.

Jx

the Vendor will know all about the other offer, the EA wouldnt have said something like that off his own back! trust me it would of been fully discussed between EA and vendor about what the best move was . its a simple situation, detach yourself emotionally and treat as a business transaction, if you dont want to pay the extra then dont! just call the EA and say on reflection you want to drop your offer to.(insert amount). be prepared to lose out if there is indeed another party, or pay the 14k and be happy you have the house you want, i struggle to see the dilemma, but dont be tempted to play games it can all go the way of the pear when you start messing about

hazyjo

GM11 wrote: »

the Vendor will know all about the other offer, the EA wouldnt have said something like that off his own back! trust me it would of been fully discussed between EA and vendor about what the best move was . its a simple situation, detach yourself emotionally and treat as a business transaction, if you dont want to pay the extra then dont! just call the EA and say on reflection you want to drop your offer to.(insert amount). be prepared to lose out if there is indeed another party, or pay the 14k and be happy you have the house you want, i struggle to see the dilemma, but dont be tempted to play games it can all go the way of the pear when you start messing about

Have heard many stories where the vendor has been totally unaware of the EA's 'games/tactics'.

So you're saying to just believe the EA?! Of course, he may indeed be telling the truth - but I would want to know and would do what I could to confirm that.

If there was another party, yes, I may consider paying more. If not, I would drop my offer down to what it was initially agreed at. I don't see why you're saying not to check with the vendor... I certainly wouldn't call that 'game playing'!

Jx

GM11

hazyjo wrote: »

Have heard many stories where the vendor has been totally unaware of the EA's 'games/tactics'.

So you're saying to just believe the EA?! Of course, he may indeed be telling the truth - but I would want to know and would do what I could to confirm that.

If there was another party, yes, I may consider paying more. If not, I would drop my offer down to what it was initially agreed at. I don't see why you're saying not to check with the vendor... I certainly wouldn't call that 'game playing'!

Jx

well it depends how you view it, no one was forced to offer more, it boils down to how much you want to live there, is it worth an extra £14k? the issue of another bidder is a bit of a red fish. even if there was another bidder sales can and do fall through.
we have BTL and some shops and are buying a house in Scotland, we have based each and every offer on what we were prepared to pay. on one place we are buying i am paying just about my limit for that property, i could have argued £3k off after the survey but to be honest as long as its under my max that i am prepared to goto then it isnt worth the hastle, i keep saying it but the value of a house bols down to one simple fact, a house is only worth what someone is willing to pay so if your willing then it's worth it.

N1AK

littlemissy29 wrote:

Decided we liked it lots and offered £364 in the morning - Bid accepted.

Feel frustrated and a bit cheated and also don't trust the vendor at all. Property has gone up £14k in 24 hours - and I feel very bitter.

Nothing to stop them changing their mind again once I've paid for a survey/searches of course.

What would you do in this situation?
There are no similar properties in the area and this would be an ideal family home

Littlemissy29

I wouldn't have increased my bid because I don't like this kind of behaviour, but that's based on the fact I'd be willing to lose the property for my principles!

It sucks but that's how house selling works in the UK. I don't understand why it isn't normal to sign a contract immediately committing to the sale at that price or face a financial penalty but it isn't.

N1AK

Dan-Dan wrote: »

Codswallop

sorry

I think there might be a case for fraud if they lied about an offer from another party but I'm not a lawyer and I haven't seen this happen in real life.

Dan-Dan

N1AK wrote: »

I think there might be a case for fraud if they lied about an offer from another party but I'm not a lawyer and I haven't seen this happen in real life.

So your saying , you agree then