Estate Agent refusing Higher offer

lavalamp1

Hi all,

Just wanted to see if any one has experienced where an EA has refused a higher offer even though the house is still on the market?

Could it be known that an EA would rather sell to someone who will be using their in-house services and accept a lower offer?

Tim_Bisley

It's not the Estate Agent that is selling the house. The vendor will have rejected the offer, presumably because it's not acceptable to them.

lavalamp1

Why would a vendor reject a higher offer from someone who is a FTB, mortgage in place as well as large deposit in place.

I can understand if I was in a chain or something then the extra money wouldnt help but I am the opposite.

Has anyone known EA to play these tricks?

ellesbellesxxx

Is an offer already in place? Could be a cash buyer...

Moomum

Has the vendor already accepted a lower offer? When we were buying someone came in with a higher offer after ours was accepted, the estate agent told the vendor but they said it would be wrong once they had accepted ours. We were obviously very pleased.

westernpromise

A few years back I was selling a flat (probate sale) and the buyer took 6 months to fail to exchange. She then demanded a discount off me because it was all taking so long.

I let the flat out for a year instead, then put it back on the market and it sold. She came along again in the middle of all that with a higher offer wanting to buy it (having not bought it before, nor since bought anywhere else either). I went with the lower offer that was in place.

If nothing similar applies it is possible the agent has told the vendor that a more proceedable bidder will be along soon. It is also possible that they are some way along with someone else but still have it on offer to keep the pressure on the existing preferred buyer.

lavalamp1

I am not told that it is a cash buyer. Just been told they would prefer to sell to the other party as they have 'mutual friends'. Feeble excuse.

They may have accepted the lower offer but the offer was made on the same day as mine. EA first contacted me to request paperwork which was submitted. 1 hour later, offer rejected.

bazzyb

lavalamp1 wrote: »

Just wanted to see if any one has experienced where an EA has refused a higher offer even though the house is still on the market?

Higher than what?

If a lower offer than yours had been accepted, I could perhaps understand your frustration (although the full circumstances are not known)... but as the property is still on the market I am not sure what you are asking. Maybe your offer was too low?

westernpromise

You could always send your offer direct to the seller in case the mutual friend is the agent's rather than the vendor's!

Tim_Bisley

lavalamp1 wrote: »

Has anyone known EA to play these tricks?

Are you complaining you can't gazump someone?

Rambosmum

Did the estate agent reject the offer without taking it to the vendor or has the vendor rejected it?

If it was the vendor then the offer simply wasn't high enough. Either because they feel the property is worth more or that they are holding out for the asking price, either because the house hasn't been on the market long or the property has recently been lowered in price.

There is a slight chance that the estate agent has advised them that you could pay more, but I doubt this happens as often as people think it would.

Do you know the house is definitely still on the market? Just because it's still on a website doesn't mean the vendor hasn't accepted an offer.