Illegal not to put an offer forward?

ILW

Pip40 wrote: »

Yep, know that, but it was the fact that the people didn't even know we were interested. If the first time buyers had come and made an offer, and they'd naturally accepted, that's fine, that's the risk you take when you're buying, great, but for EA's to not even express our interest to the vendors when they know they've signed us up to sell purely for that one house, that stinks.

They didn't tell us at any point that they were now processing an offer on the house, they just let us sit there merrily trying to sell our house. Not only is it the same company, the same office, but it is the exact same agent who is in charge of both properties, the exact same guy. He knew he had an alternative sale in progress on that bungalow the minute he took my phone call with an offer. And that's what is wrong. I don't expect to have a shot over a first time buyer, but I do expect my comments and my offer to be submitted to the vendor.

Did you offer asking price?

gingerfox

ILW wrote: »

Did you offer asking price?

'We made our asking price offer on Monday last and didn't hear anything back'

Dan-Dan

does it matter? , who is to say a non proceedable buyer makes an `attractive` AP or over offer , in the hope the vendor see`s £££££ and is stupid enough to take that offer over a lower , but proceedable offer , the op could have offered 20% over AP and it `shouldnt` have made any difference

Pip40

The situation as it stands now, following more ping pong, is that the vendor more than understandably wants to stick with his chain free buyer.

We've made it more than clear that once it becomes the case that the transaction for the bungalow is at the point of no return, we will completely walk away from the agents, no questions asked. At the moment the onus is still on the agent to push this house as much as he can, so that if we get a firm sale we can then potentially gazump the first time buyer (which doesn't sit at all well with me, tbh), OR be in a position to jump in should the purchase fail somehow. Although I wanted to walk away from the agent, now the mist has cleared slightly I realise that we are better off staying with them until the 5% chance of still getting the bungalow has disappeared completely.

Once that has happened, that's it, end of contract - I said the above to the EA and they agreed...but we all know what that's worth!!

Anyway, much thanks to everyone who has helped - maybe I may be able to come back with good news in the future.

hazyjo

Wouldn't sit well with me as a buyer either (not that I'd be doing it). Wouldn't sit well with me if my vendor agreed to gazump someone else either - trust goes two ways and I'm not sure I'd want to spend three months trying to buy a house that they may decide to sell to someone else who puts in yet another higher offer.

The point of no return is exchange of contracts. You waiting until then? Or until they have a survey done?

Each to their own...

Jx

Pip40

Yes I am definitely not in favour of gazumping, or anything like that, not the done thing at all.

At the moment we don't know what the first time buyer might do, so we've got nothing to lose by staying on the market a bit longer.

Should a miracle occur and another property in the road materialise, with a different agent, there is no way that we would stay on the market with our current agent, unless of course we had sold with them.

At the moment I just feel rather numb and jaded about the whole thing, and could quite gladly not have anything to do with house moving for a while!

ReadingTim

Pip40 wrote: »

At the moment we don't know what the first time buyer might do, so we've got nothing to lose by staying on the market a bit longer.

Should a miracle occur and another property in the road materialise, with a different agent, there is no way that we would stay on the market with our current agent, unless of course we had sold with them.

Until you have either sold, or have accepted an offer on your current place, you're not very proceedable on either the first house, or any others which come up on that road. This may result in any future attempted offers not being passed on either.

hazyjo

Once you do get a buyer, if there is only one road - or a handful of roads - you're interested in, it'd definitely be worth putting leaflets through doors. Lots of other threads on here asking for advice (some good templates, etc) and several success stories.

Jx