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Property off the market, please advise

heytoki
Posts: 163 Forumite

Hello all,
i put an offer of £180K on a flat where the asking price was O.I.E.O £185K.
i loved the flat so i tried my luck and i offered the maximum i could.
The estate agent cameback to me and told me that the vendors would accept £185k but unfortunately financially i cannot offer that amount.
Everyday, i was checking internet to see if the property had been sold and one day i saw that the property had been taken off the market. The same day the EA called me to ask me if i could go for £185K. i asked why the property had been taken off the market and they told me that the vendors were not happy with them and they would go with another agency who has promised them to sell the property for £195K.
The EA told me that they still have the right to sell the property if i offered £185.
I did the maths and talked to my financial adviser and the maximum i could strecht is to £182K so that was my final offer but again, the vendors want £185K. Basically, financially i cannot go further and they cannot go lower.
After Christmas, i will be able to offer £185K and i dont want to lose that property. But in the meantime i only just can wait.
The property hasnt comeback to the market yet, so i dont know if they have sold it or if they are waiting to put it back on after Christmas. So, i was thinking to contact the vendors directly to see what their plans are as i am really interested on that property.
A colleague from work told me to contact them and try to make the deal directly as the agency is not involved any more and i might get it for £182K as the vendors wouldnt have to pay for the agency fees.. But i am not sure if i can do this as i think it is not ethical correct. Also, i am not sure if legally i can do this?
Thanks
i put an offer of £180K on a flat where the asking price was O.I.E.O £185K.
i loved the flat so i tried my luck and i offered the maximum i could.
The estate agent cameback to me and told me that the vendors would accept £185k but unfortunately financially i cannot offer that amount.
Everyday, i was checking internet to see if the property had been sold and one day i saw that the property had been taken off the market. The same day the EA called me to ask me if i could go for £185K. i asked why the property had been taken off the market and they told me that the vendors were not happy with them and they would go with another agency who has promised them to sell the property for £195K.
The EA told me that they still have the right to sell the property if i offered £185.
I did the maths and talked to my financial adviser and the maximum i could strecht is to £182K so that was my final offer but again, the vendors want £185K. Basically, financially i cannot go further and they cannot go lower.
After Christmas, i will be able to offer £185K and i dont want to lose that property. But in the meantime i only just can wait.
The property hasnt comeback to the market yet, so i dont know if they have sold it or if they are waiting to put it back on after Christmas. So, i was thinking to contact the vendors directly to see what their plans are as i am really interested on that property.
A colleague from work told me to contact them and try to make the deal directly as the agency is not involved any more and i might get it for £182K as the vendors wouldnt have to pay for the agency fees.. But i am not sure if i can do this as i think it is not ethical correct. Also, i am not sure if legally i can do this?
Thanks
0
Comments
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That won't work. The vendor would still have to pay the original EA's fee because they 'introduced' you.
And, yes, the EA would find out if you went ahead with the plan0 -
Do they want a quick sale? If not you could offer £185k on the condition that you complete in January or even FebruaryChanging the world, one sarcastic comment at a time.0
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I can't see any problem here, even if you agreed a price today there is very very little chance of you moving in/completing before Christmas so its going to be January anyway. If you are going/could offer 185k after Xmas why not offer it now.
You could approach the buyer directly and offer 185k tell them you can complete Jan/Feb by which time they might be able to sell to you without any come back from the current EA although I doubt it as most EA's specify in the contract at least 6 months before the sellers could sell privately to someone they introduced BUT the seller might think its worth the risk and go for it.0 -
Do they want a quick sale? If not you could offer £185k on the condition that you complete in January or even February
Thats what the agency suggested but i will not be able to offer £185k until January taking into consideration that the sale would be completed in March.
The vendors are not confident and bit stressed as previously a sale fell thru.0 -
So why not wait until Jan and if it is on the market then offer what you can afford then if it hasn't already sold? They may be open to your offer then. And if someone else has bought it in the meantime then that is frustrating but it's how it goes when you are house hunting.Father Ted: Now concentrate this time, Dougal. These
(he points to some plastic cows on the table) are very small; those (pointing at some cows out of the window) are far away...:D:D
0 -
I can't see any problem here, even if you agreed a price today there is very very little chance of you moving in/completing before Christmas so its going to be January anyway. If you are going/could offer 185k after Xmas why not offer it now.
You could approach the buyer directly and offer 185k tell them you can complete Jan/Feb by which time they might be able to sell to you without any come back from the current EA although I doubt it as most EA's specify in the contract at least 6 months before the sellers could sell privately to someone they introduced BUT the seller might think its worth the risk and go for it.
The reason i am saying after Christmas is because it is when i will have whole amount i need to put as a deposit. Then, from that point, i need to save a little to cover the expenses (solicitors, etc). So by March i would be able to move in.
I think i still will contact the vendors and ask what their plans are as the property is not listed any more.0 -
If they have already instructed another agent it just may not be online yet. Or the EA may have told them that they can market it very discreetly. Doesn't make sense to me, but one EA that kept trying to get us to change over to them, kept telling me that they could market it only to known interested parties and not put a sign outside, nor puttit online. Seems bizarre to me unless you are famous or live in a mansion!Father Ted: Now concentrate this time, Dougal. These
(he points to some plastic cows on the table) are very small; those (pointing at some cows out of the window) are far away...:D:D
0 -
If they have already instructed another agent it just may not be online yet. Or the EA may have told them that they can market it very discreetly. Doesn't make sense to me, but one EA that kept trying to get us to change over to them, kept telling me that they could market it only to known interested parties and not put a sign outside, nor puttit online. Seems bizarre to me unless you are famous or live in a mansion!
Thats why i wanted to contact the vendors directly. To find out....0 -
I hope you get the response you are wanting. Good luck with your hunt.Father Ted: Now concentrate this time, Dougal. These
(he points to some plastic cows on the table) are very small; those (pointing at some cows out of the window) are far away...:D:D
0 -
I would say to offer it now. Do they need to find something to buy? That will take time, so nothing is likely to happen until after Christmas anyway. They will find it easier to secure a property to buy if they have an offer on their house so everyone's a winner0
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