House we had offered on now changed EA. How to proceed?

rosie383

We have viewed many, many properties over the past 8 months, but only one recently has felt like the 'right house'.
We offered on it at £200k (after a lower offer) as this is what we believe the property is worth. It is on the market at 210k. That last offer was rejected but we still have been harbouring hope that the EA would call and say the vendors had found a house and, as we were the only ones to make an offer, that they were willing to negotiate or whatever.
We are now in the position of needing to find a house as our buyer isn't going to wait for ever, or going to rent for 6 months. Obviously renting is going to use up about £5k so we are thinking that it would be better spent on offering up to £5k more on the house we want and hope that it would be enough for the vendors to accept.

We had viewed and offered on the house when it was on the market with the EA that has sold ours. When we viewed another one with them last week, we asked again about the house, to be told that the vendors had gone on with another EA too. From the way it was said, it sounded as if they had instructed another agent alongside the current EA.
Yesterday we drove along outside the house and 'our' EA sign has gone, and been replaced by another agent. So it looks as if they are no longer with our EA.

Now, at long last, the question. It seems as if there would be a problem if we offer again. Surely both EAs will be looking to get fees out of the vendor if it is on the market with one, but we were introduced by the other. I know that is the vendor's problem, not ours, but if it were me, I would be looking at the extra fees and thinking that the increased offer wouldn't be enough. We really can't offer more than 205k at most. I was going to ring the current agent and ask about it, if the owner was open to offers etc. Without telling them we had previously offered on it, until I can get some info from their point of view. For the past few weeks, our agent didn't tell us they had been replaced, they just told us that the vendor wanted more than we could offer, so now we are not so sure.
Sorry, I'm rambling. Someone help me make sense of all of this.:D

anselld

If it is being marketed at 210 I would still offer 200 initially with a view to meeting in the middle after negotiation.

The EA fees are not your problem. I imagine they would probably come to an arrangement to split the fees in the interests of achieving a sale.

sinizterguy

anselld wrote: »

The EA fees are not your problem. I imagine they would probably come to an arrangement to split the fees in the interests of achieving a sale.

They wouldn't. The first one having introduced the OP would be entitled to the fees. They have no interest in sharing it with the second one - and they do not have to.

What would they gain by sharing the fees ?

The 2nd EA on the other hand would be falling over themselves to share the fees as they would get nothing otherwise.

rosie383

We already offered 198 then 200k. At the time of the second offer the EA told us and the vendors that it was the right sort of offer for the property but they said that the vendors hadn't yet found a house to buy so they had time to sit on the market and wait to see if someone came along with a higher offer. We were hoping that things had changed and they may be more open to negotiation, but we don't want their new EA to be negative towards a further offer as they will find out we had already offered with EA1.

rosie383

sinizterguy wrote: »

They wouldn't. The first one having introduced the OP would be entitled to the fees. They have no interest in sharing it with the second one - and they do not have to.

What would they gain by sharing the fees ?

The 2nd EA on the other hand would be falling over themselves to share the fees as they would get nothing otherwise.

Does this not depend on what type of contract the vendor has signed? They struck us as not being particularly savvy and if they had been persuaded to sign a sole-selling contract that would be a problem. But then it is just speculation on my part.

princeofpounds

In one sense the fees are not your problem; you are not paying them.

In another, they are. You don't know what contractual arrangements the vendor has with them and it is possible your offer would now carry an extra fee burden if, for example, EA2 has some form of sole selling rights and EA1's introductions are not excluded.

Probably, however, it's ok, with some kind of sole agency. So just go make your offer through EA1 and see what happens.

jamie11

When this happened to me the new estate agent called me (he knew I'd offered on the place) I went in and offered less for it and got that accepted before the vendors realised I'd offered before.

I was completely uninterested in how the agents split the commission.

That property was virtually derelict though when I bought it.

Mickygg

Let the EAs worry about that conundrum with the fees, it's not your concern. Concentrate on the offer.

If it's a house you really want, and you don't want to rent I'd say it's a no brainer to offer another £5k as your best and final offer. I would offer to new agent just in case old agent plays around with it.

I have in the past lost a house over a few thousand pounds and regretted it.

AdrianC

I'm with everybody else. The fees are the vendor's problem.

BUT... If the new EA gets two people offering £200k, your offer may well cost the vendor more, because there's the chance of double-fees. They've already demonstrated they will not accept £200k.

EA1 is clearly fairly inactive, else they'd have worked harder to get your offer to a level the vendor'd accept.

Go straight to £205k, via EA2. But be open about your previous offer through EA1.

martindow

I think it might cause a potential problem if you have offered 200 with EA1 and then offer 205 with EA2. It is EA1 who initially introduced you as a buyer.

I think I would post a note through the house door with an increased offer and let the seller decide how they wish to play it with the agents.

G_M

It's not your problem!

Ask the 1st agent if they are still able to put an offer to the vendor. They will say yes or no!

If yes, fine, put in your offer.

If no, go to the other agent and put in your offer (and explain about EA1).

The agents/vendor will sort out the problem, not you.