Estate Agent refusing Higher offer

duchy

How do you know the other offer made on the same day is lower than yours ?

Bossypants

On the selling side of it, I have known an EA to recommend that an offer not be accepted even though it was the highest specifically because the prospective buyers were young FTB'ers. They had an AIP and all the rest of it, but the property was desirable in a competitive market, so there were several offers, so the EA's explicit recommendation was that that their preferred 'safe' buyer be encouraged to bid up to the FTB'ers offer (even though it was supposed to have been 'best and final'), while the FTB'ers were rejected. The seller had to be very firm that they wanted to accept the FTB'ers' offer, and the EA was not happy about it. The sale went off without a hitch BTW (to the FTB'ers).

lavalamp1

How much more proceedable can you get from a FTB, mortgage in place with a large deposit?! House has been on the market a week and no offers had been accepted until yesterday.

When making the offer Monday morning, EA told me they would like to review the financial situation of all bidders before vendor accepts. Also encouraged me to use in house services, which I declined.

elmer

when we bought our last house we were the second highest bidder, but we were accepted as the vendor said that the highest bidders had already been "difficult"

elmer

lavalamp1

To clarify. The offer that has been accepted on the house is lower then mine, Why the vendor supposedly accepted this is because they have 'mutual' friends. I have been told by the EA in the morning the other offer was lower then mine.

WestonDave

At the end of the day the vendors can give the house away if they want - whatever their reasons for choosing to stick with the current bid makes no difference. You can't force them to swap to you - heaven forbid they might even have some ethics and feel that having agreed a deal with someone their word is their bond etc!

lavalamp1

I am in no way suggesting that they break a bond or an agreement with a buyer. My initial question being, could an EA influence a vendor by giving a false representation of my financial situation as I am reluctant to use their in house services.

Moomum

At end of the day the vendor can sell to who they want too, as long as the estate agent put forward both offers then they have done nothing wrong.

princeofpounds

If you think games are being played, write a polite note to the vendor 'confirming' your offer as made to the EA and leaving your contact details. If it doesn't match what the EA has told them, expect a call.

There are valid reasons not to pick a proceedable buyer, but beyond the above there is little you can do.

lavalamp1

Also no offers had actually been accepted until Monday afternoon as I was informed in the morning that the EA would need to review the financial situation of each buyer.

I then submit documents - Still no news on whether is accepted or not.
1 hr later - Offer rejected. Vendor accepted lower offer as they have 'mutual friends'.