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

Doneit

Sorry to hear you are having issue with getting your house purchase in order. I went through almost exactly the same thing. Agent who originally had the property listed did not tell me he had been trying to sell it for more than two months. Although I asked how long has been the property in the market and I was informed, it was just few weeks. I’m not sure how my offer was handled but the agent lost the listing the day after we made the offer. I have a feeling it was not even presented. Agent told us, the owner decided not to sell. I found the listing on rightmove and Houser. The owner had decided to go with a different agent and how fast it appeared on these sites indicates the agent who originally had the property most likely lost it before my offer. I approached the new agent and my offer was presented fast and owner was more than happy to entertain it (it turns out the first agent didn’t even present the offer and had lost the listing). We came to an understanding fast but the problem I was left with was that the owner could not move for few weeks and I had already sold my house. My wife really wanted the house so we decided to do a short let for two months. The shortlet owner was charging a per day rate and we were able to make a deal for 35% off for the 60 days rental.

rosie383

Our vendor has still not found a property to buy. I'm feeling a bit (well, very) frustrated as a decent house in a better area for us came on the market last Saturday and I went to view it.
I had been asking for a week to go back and view the one we had offered on as it had been at least a couple of months since I had seen it. EA failed to arrange this (vendor waited in all Thurs afternoon and we didn't show up because we hadn't been told even though we had been on the phone frequently asking), so I didn't get to see it until the following Monday and was gutted as it didn't look anywhere near as good as I had remembered. Meanwhile the nicer house, same price, was sold before we could even put in an offer. If the EA had done their job I would have re-viewed the original house again, then went to see house number two and would have seen clearly that house number two was much better. GRRRRRRR.
But the EA had failed to do this, told us that our vendor had offered on a property so we were hopeful that all was going to be well. When we eventually did get to speak to the vendor, she told us that they hadn't had an offer accepted and are still looking. EA has told us that our buyer is happy to wait. I only have their word for this. I have no idea whether they are stringing our buyer along week by week with inflated promises of when we will be moving. If there was anything else decent and chain free coming on the market I would be walking away from property 1, believe me.

Hoploz

Oh Rosie I'm sorry to hear you're having doubts, after all the effort on the first one! I suppose the estate agent just assumed you were happy with the one you'd offered on (asking for another look doesn't necessarily mean you're having second thoughts) and he did his job by selling the other one to someone else! What are you going to do? It would be a shame for your seller to suddenly lose you having thought it was all tied up and especially if they do find one they want. You must be fair and tell them as soon as you make a decision to go for something else (if you do)

Slinky

If the second house was with the same agent as the first, there was no way he was going to be helpful towards getting you to see the second property. He wants to sell house 2 to anybody but you as you've already got an acceptable offer in on house 1 and he wants commission on both.

rosie383

Thanks Hoploz and Slinky. I wouldn't walk away from the house without informing the vendor personally. We have always said from day 1 that we would go elsewhere if we had no end in sight and found something that we could move into sooner. They don't seem to be in much of a hurry and we will not wait for months if we can help it. If I hadn't seen the other house then went back to house 1 then I probably wouldn't be feeling as unsettled.
We had to pay full asking price which really it wasn't worth. On this viewing all I could see was painted over wallpaper everywhere, old looking cupboards etc. The only thing positive is that we viewed the house next door honestly not realising the price as we hadn't seen it online. It was pretty much perfect as it had all lovely floors, decor, kitchen extended, new bathroom. It sold for £20k more than 'ours'. As prices are rising so rapidly we are consoling ourselves that hopefully our house will seem like a good buy in a few months. Mind you, we did offer under asking price when we first viewed it and with what needs done immediately when we move in, we could have done with £5k under.

ClaireD85

Well we have offered and had it accepted on a house. the survey is booked and mortgage agreed in theory subject to the survey etc

in the end we decided not to borrow extra money from my parents and decided to get a smaller house than we initially wanted. one of the agents rang us up 2 weeks ago first thing on a saturday morning that a house was about to go on rightmove but we could see if straight away.

its a 2 bed modern end of terrace, with reasonable sized rooms and an ensuite within walking distance of Leagrave train station. it was going on for £172k and we agreed £170k, deal all done by the saturday lunchtime. it never made it online as we insisted on that as part of our offer

I keep trying not to think what this budget would have bought just a couple of years ago. but at least we now have something to look forward to and can get on with our lives

its hard not to keep looking at rightmove too, seen 2 beds needing work come on for less than this one but its in really nice condition so hopefully nothing to do other than refresh the painting

theres also no chain as the person selling is moving into her partners place

how is your search going rosie

Leeds_House_Mover

A very similar thing happened to us. There was a house on the market for many months at an advertised price of £360,000. We liked it but weren't in a position to do anything about it.

We decided to get our finances in order which took a few weeks but this place was still on the market. That made us think there was no massive rush.

We finally go and see it and find out that the owner was an older guy who had gone into a home and had then died and so it was the children selling the house.

We made an offer of £330,000. This was rejected. We said to the EA to let us know if any other offers came in as we would want to increase ours if it did but that we would go and look at other houses.

The following week a new EA board goes up and we ring up EA2 to find out what's going on. Basically, the children wanted to go with a new EA because they felt that EA1 wasn't doing anything proactive to market the property. OK, we said, we wanted to be kept informed...no can do says EA2 as you are EA1's client.

Long story short, another couple comes in to offer £350,000 through EA2. We phone and offer £355,000 but get told that we would have to make that offer through EA1 but that the children now have a bad relationship with them.

We phone EA1 and get told that we will only be considered if we agree, in effect, to pay both sets of EA fees. Whether that's legally the position or not doesn't really matter.

If you're the 'client' of EA1 you're immediately in a much worse position when it comes to negotiations.

Mallotum_X

ClaireD85 wrote: »

Well we have offered and had it accepted on a house. the survey is booked and mortgage agreed in theory subject to the survey etc

in the end we decided not to borrow extra money from my parents and decided to get a smaller house than we initially wanted. one of the agents rang us up 2 weeks ago first thing on a saturday morning that a house was about to go on rightmove but we could see if straight away.

its a 2 bed modern end of terrace, with reasonable sized rooms and an ensuite within walking distance of Leagrave train station. it was going on for £172k and we agreed £170k, deal all done by the saturday lunchtime. it never made it online as we insisted on that as part of our offer

I keep trying not to think what this budget would have bought just a couple of years ago. but at least we now have something to look forward to and can get on with our lives

its hard not to keep looking at rightmove too, seen 2 beds needing work come on for less than this one but its in really nice condition so hopefully nothing to do other than refresh the painting

theres also no chain as the person selling is moving into her partners place

how is your search going rosie

Hope it all goes smoothly for you.

rosie383

Well, two months after we had our offer accepted we are still waiting. The vendor has apparently had an offer accepted on a property at last. We were told it was chain free and let ourselves get a teeny bit optimistic. Found out that the house they are going to buy has a vendor who is now looking for a property.

Honestly if any half-decent house appears that we can afford we will have no guilt about walking away from this. We have been very patient. We originally offered in October or November I think, but after the change of EA and the subsequent delay it was January when we had an offer accepted. Our poor FTB has been waiting patiently too and I feel so bad for her. Oh, BTW EA2 in this saga was Connells so we may have all had a lucky escape there.

I am never going to buy a property in a chain ever again if I can help it!! We now can't really afford anything else. Would I love to know six months ago what I know now? You bet! Prices are still rising at a silly rate here. Houses which were being sold a few months ago at £180k, are now coming back on at £210k.
We were originally looking at houses around £210k max in the summer for top end of what we wanted. Now they are coming on at £250k.

Hoploz

Looks like you are a bit further on now then Rosie
Trouble is even if you find something else you could still find yourself in the same position again, so patience is the best way forward. Good to know your sellers have found something, ie they have realistic expectations and aren't looking for a needle in a haystack! They are genuinely intending to sell to you!