Seller Won't Accept Offer - Allegedly

Helvetica_Van_Buren

I viewed a property and whilst I was there I offered the full asking price. The estate agent conducting the viewing said he would call the seller to see if they would accept.

He didn't call the seller; instead, he called his office. The girl in the office claimed the seller would not accept my offer without me demonstrating that I can afford it to the estate agent (the company - not the specific agent that day). I can do this no problem in the form of current bank statements (showing the deposit) and my agreement in principle with my current bank (for much more than the price I've offered) and other pertinent information one would expect to see in this situation. I also have no chain below me so can exchange whenever they want to.

Apparently this is not good enough and I now have to have another mortgage appointment with the agent's in-house mortgage broker before the seller will accept my offer - according to the agent.

I don't believe at all they've passed my offer on. I believe they are holding me to ransom to get me in front of their mortgage broker in order to try and hard-sell me a mortgage. They say the seller insists on this but I simply don't believe them.

What am I to do? I can tell them where to go but that wouldn't result in me buying the house. At the minute I'm playing the game (reluctantly) because I want the house but I'm really not happy about having to sit in front of the estate agent's broker and go through a process I've already gone through.

I've downloaded a copy of the current deeds and have the address of the current owner - it's not the same address as the property for sale. It's too far to visit but I was thinking of sending them a simple letter along the lines of "you should know I've offered the full asking price but I'm not confident the agent is passing all the facts on to you" as well as providing copies of the evidence of the copies of documents mentioned above to demonstrate my ability top buy. I have no intention of attempting to bypass the agent to complete the sale - I'd gain nothing from it.

Is this common practice? Has anyone else had this? I'd be keen to know your thoughts and experiences.

theartfullodger

Put a letter through the letter-box & to the address you have saying you are very disappointed that your full price offer has been refused, anything else positive about your offer (eg cash, no chain, your offer still stands etc etc) and if he changes his mind or wishes to discuss to please let you know.

kinger101

I'd write to the vendor saying exactly what has happened. Say you're willing to forward copy of the deposit information and DIP to their solicitor if they wish to proceed.

EDIT ^^ actually, artfuls' idea is better.

Helvetica_Van_Buren

Guys - thanks for your input. These are my thoughts entirely and is the course of action I will take.

I'd still welcome other people's views as to whether they've experienced this before.

pleasedelete

Have you put the offer in writing to the agent? If not do that by email and letter.

warby68

I could imagine the offer being passed on but the agent's interpretation of your ability to proceed being downplayed and the agent suggesting to the client 'to be on the safe side' they vet you themselves.

All with a bit of plausible deniability to both sides.

Make sure you also put your offer and supporting evidence in writing to the agent (senior person there) together with what you have been told and by whom.

Hopefully if there are any integrity issues, this would draw it out.

I'd be round to the vendor as well if I could (I know you can't)but have only ever moved locally - in all moves we established a level of personal contact and it did 'clarify' things on a number of occasions both as vendor and buyer.

merrydance

Yes this is quite normal. Take the evidence in to the mortgage broker, appointment will only last about 5 minutes. The estate agents just need to see that you have funds in place or an aip. Next thing they will do is check your chain details (who you have sold to etc.) to see if you have a complete chain.

Helvetica_Van_Buren

pleasedelete wrote: »

Have you put the offer in writing to the agent? If not do that by email and letter.

No, but I will do this. Thanks.

Helvetica_Van_Buren

merrydance wrote: »

Yes this is quite normal. Take the evidence in to the mortgage broker, appointment will only last about 5 minutes. The estate agents just need to see that you have funds in place or an aip. Next thing they will do is check your chain details (who you have sold to etc.) to see if you have a complete chain.

I get that demonstrating that I can afford it is required, and have no issue with this.

I'm not convinced at all that I need to have a meeting with their mortgage broker which IS to search for, and attempt to sell me a mortgage. They've advised it will take an hour. It IS a forced mortgage sales pitch, not a verification that I can afford it.

Helvetica_Van_Buren

warby68 wrote: »

I could imagine the offer being passed on but the agent's interpretation of your ability to proceed being downplayed and the agent suggesting to the client 'to be on the safe side' they vet you themselves.

All with a bit of plausible deniability to both sides.

Make sure you also put your offer and supporting evidence in writing to the agent (senior person there) together with what you have been told and by whom.

Hopefully if there are any integrity issues, this would draw it out.

I'd be round to the vendor as well if I could (I know you can't)but have only ever moved locally - in all moves we established a level of personal contact and it did 'clarify' things on a number of occasions both as vendor and buyer.

In lieu of visiting the vendor, I'm going to send a simple polite letter (next-day-guaranteed-for-sign-by-special) explaining the facts and demonstrating I can afford it.

I have no issue showing I can afford it - because I can; I have issue with being forced to have an hour-long meeting with their mortgage broker before (they claim) my offer will be considered.

theartfullodger

Yes, but simply first class: signed-for may well not be.