Renogotiating on Sold subject to Contract houses

rockall81

Hello,

As you might be already aware there is nothing in the market for you to buy if you are looking for house somewhere in London, or commutable areas around London.

But i do see loads STC houses, is there way we could go to estate agent say, can you sell one of those houses for little bit more?

Sorry if this is bit non ethical way of doing the business, but does it happen lot ?

Thanks for the help in advance

ConfusedofYorkshire

There is nothing legally to stop you doing it. But the estate agent and vendors may have morals and not allow you gazump.

However, if you find someone that's willing to do that to their buyer- be prepared for them to be willing to do it to you.

Annie1960

I tried contacting an EA who had a sign on a house saying 'under offer.' They would not let me view it.

I think under offer is the same as sold subject to contract. They both just mean that an offer has been accepted, but contracts have not been exchanged.

cattie

It certainly isn't ethical & thankfully none of the ea's in my particular area are in agreement with such a practice. And no, thank God, due to ea's & vendors with good principles, it rarely happens.

Put yourself in the buyer's shoes if you will & imagine how you'd feel to get your offer accepted, only for some underhand person trying to pull the ground out from under your feet.

You just need to be a bit quicker when a house comes on the market & make a good strong offer to start with if you want the property.

Twood

Why not just stay in contact with all the EA's so that you are first in their mind whenever something comes on the market? Make friends with them, view everything they suggest and be polite but honest - that way they will remember you and you will end up with one of those properties!

MobileSaver

rockall81 wrote: »

But i do see loads STC houses, is there way we could go to estate agent say, can you sell one of those houses for little bit more?

You could try but most EAs and sellers won't be interested; they will already be part-way through the process with one buyer and switching to another buyer will increase how long the process takes and increase their costs.

Similarly you'll have shown yourself to have no scruples and so the risk of the sale not going through will be increased; the EA/seller will be wary that you may keep looking at other properties and would have no hesitation in pulling out of the sale if something better comes along.

Regardless of all that though you won't know what offer the seller accepted so I'm unsure how you would go about offering a "little bit more".

anselld

rockall81 wrote: »

Renogotiating on Sold subject to Contract houses

You mean gazumping!

rockall81 wrote: »

But i do see loads STC houses, is there way we could go to estate agent say, can you sell one of those houses for little bit more?

.. but you don't know the stc price. In London it is just as likely to be significantly above the advertised asking price.

Davesnave

rockall81 wrote: »

is there way we could go to estate agent say, can you sell one of those houses for little bit more?

Sorry if this is bit non ethical way of doing the business, but does it happen lot ?

It probably does happen, and being non-ethical, in a hot market like London, EAs will have decided how that "little bit more" can be racked-up to "quite a bit more."

Good luck!

Davesnave

Twood wrote: »

Why not just stay in contact with all the EA's so that you are first in their mind whenever something comes on the market? Make friends with them, view everything they suggest and be polite but honest - that way they will remember you and you will end up with one of those properties!

I agree with the first sentence.

The second sentence may not apply to all EAs in the London area! :rotfl: