Should I tell a seller that the estate agents are lying?

Mortgage_Moog

I viewed a property last week and emailed the agent the following day with an offer which I based on the selling price of places on the same street in the last 12 months and with my local knowledge of the area.

The agent laughed and said the owner would never accept that. When I confronted them with land registry sold prices they said the land registry always gets them wrong, Right move figures are always wrong and they have friends at other agents who have said that properties in that area always sell for 10% above the asking price. They said they would never over value a property as it would only then be turned down at the mortgage valuation. I asked if that's what had happened before and why the place had sold then gone back up after a few weeks. They told me I was wrong and it hadn't been put back up (another lie!).

The next day the agent emailed me letting me know just out of interest (out of spite because I caught them out lying) that other people had viewed right after me (wrong, I watched the agent drive off) and they had both offered 10% over the asking price so I'd have to beat that to have any chance.

I am considering posting a note through the sellers door saying I'm sorry I got outbid by the offers 10% over the asking price because I really liked it. I have the feeling the owner would be furious and happy to do a deal with me but no doubt they're tied into a contract with the EA. At worst it might turn out that what the EA said is true and I'd just be being polite by saying thanks for a nice viewing.

What do you think I should do?

getmore4less

over dramatic,

Should have just, said that's my offer put it to the vendor.

if you don't think they put your offer forward, put it in writing and copy the vendor.

Mortgage_Moog

getmore4less wrote: »

over dramatic,

Should have just, said that's my offer put it to the vendor.

if you don't think they put your offer forward, put it in writing and copy the vendor.

Sorry I didn't realise you were at the viewing listening to everything that was said. I thought you had just read a post on the internet.

getmore4less

it's not about the viewing it's about the offer you made the next day.

ScorpiondeRooftrouser

Mortgage_Moog wrote: »

I viewed a property last week and emailed the agent the following day with an offer which I based on the selling price of places on the same street in the last 12 months and with my local knowledge of the area.

The agent laughed and said the owner would never accept that. When I confronted them with land registry sold prices they said the land registry always gets them wrong, Right move figures are always wrong and they have friends at other agents who have said that properties in that area always sell for 10% above the asking price. They said they would never over value a property as it would only then be turned down at the mortgage valuation. I asked if that's what had happened before and why the place had sold then gone back up after a few weeks. They told me I was wrong and it hadn't been put back up (another lie!).

The next day the agent emailed me letting me know just out of interest (out of spite because I caught them out lying) that other people had viewed right after me (wrong, I watched the agent drive off) and they had both offered 10% over the asking price so I'd have to beat that to have any chance.

I am considering posting a note through the sellers door saying I'm sorry I got outbid by the offers 10% over the asking price because I really liked it. I have the feeling the owner would be furious and happy to do a deal with me but no doubt they're tied into a contract with the EA. At worst it might turn out that what the EA said is true and I'd just be being polite by saying thanks for a nice viewing.

What do you think I should do?

They are not tied into anything if the estate agent is not putting offers forward.

The thing is though, is it more likely that they are doing this completely off their own bat, or that they have shared your offer with the vendor and this is how the vendor wants to proceed? Whatever they are doing, whether they are lying or not, is very much more to his benefit than theirs. Also, they are paying him for his expertise in negotiations. Why would they try and overrule him and tell him to take less if he thinks he can get more for them this way?

If you genuinely think the estate agent isn't passing offers on, communicate that directly to them. Don't faff about saying how sorry you are they didn't accept your offer. If it's true, the contract with the agent will be void.

ACG

If you are in any doubt, just do the letter. You have nothing to lose.
I have recently sold my house, if a potential buyer thought the agent was not putting offers forward/risking losing offers by trying to get more I would be a little annoyed.

Mgman1965

Was your offer a lot below the asking price (a cheeky one) or just a couple of grand ?

People do put to much faith in Internet selling and sold prices for houses.

Also, taking the selling prices of other houses in the street and averaging them for another is very unreliable as the average can be heavily skewed up or down by just one house selling for a lot more than any other (a big detached new build in a street of small terraces) or a derilict dump in a street where all a done up.

Or the seller just may have told the agent no offers (yet).

I'd just move on, the seller won't care what the agent does if it sells their house, and, the agent will just laugh and toss your letter in the bin.

robatwork

Mgman1965 wrote: »

People do put to much faith in Internet selling and sold prices for houses.

That's a pretty sweeping statement.

SELLING: Zoopla estimate and rightmove "for sale" prices can indeed be the stuff of fantasy land. Not to be relied on for anything.

SOLD: Are you suggesting that Land Registry sold prices, and Rightmove sold prices are anything other than factual? Care to back up your statement with examples?

Mgman1965

robatwork wrote: »

That's a pretty sweeping statement.

SELLING: Zoopla estimate and rightmove "for sale" prices can indeed be the stuff of fantasy land. Not to be relied on for anything.

SOLD: Are you suggesting that Land Registry sold prices, and Rightmove sold prices are anything other than factual? Care to back up your statement with examples?

It not a case of examples, sold prices are more accurate than selling prices as you say, BUT, sold prices can be skewed by various things also such as sales between families (more common than you think) at reduced prices to save fees (and a cash bung) and agreements between unrelated parties doing the same (stamp duty thresholds etc).

G_M

What are you wanting to achieve here?

a) some kind of vengeful action against the EA?
b) some kind of warning to the vendors?
c) to have your original offer considered by the vendors?

If a) forget it & move on.
If b) follow getmore4less's advice above
If c) follow getmore4less's advice above

JJG

Get a friend to phone up and ask to view the property. If they agree then it's not sold.