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

Hoploz

Next time may I suggest when you make an offer, just frame it in a positive way. Accompany the offer with all the reasons you are the best and most reliable buyer they will find (really love the house, mortgage in place etc)

If you accompany it with all the reasons why you think the agent is a liar, the price is wrong, and the seller is greedy, it doesn't tend to be as well received.

kilby_007

Your problem here is that you entered an argument with an estate agent. Never do that. Offer what you think the property is worth, insist that the EA puts the offer forward to the vendor (they have to by law) and leave it at that. You can say that you don't think (in your opinion) that the house is worth what they're asking, but you won't get anywhere arguing about market value and sold prices with an Estate Agent. They're massively biased (on the pro-HPI side) - who would've thought it!


Walk away and stop fretting over it. If the area is genuinely in high demand and the EA is telling the truth then it will probably sell imminently to another buyer and you'll learn for next time. If it doesn't sell, they'll come back begging in a few weeks (providing your offer wasn't ridiculously low).

FBaby

I'm confused how you reached the conclusion that they have been lying to you? Are you only going by the fact that no-one else came to visit just after you left? What about if they came one hour later? That's not right after from your definition but it might be by them.

I would never trust that an estate agent has systematically related an offer, but at the same time, I wouldn't assumed they lied without evidence either.

Write a letter, post it through the box (assuming owner lives there) and explained you made your offer, but you were informed by the AE that they had received more than one offer at 10% more. State that you can't meet this, but if it doesn't proceed and they are interested in the lower price, you'd be happy to make an offer. Then see where it takes you. They contact you, AE lied, they don't, they most likely didn't.

ReadingTim

Mortgage_Moog wrote: »

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.

And I have the feeling the owner won't give a !!!!!! - they're paying their agents to get the best price for their property, not win an honesty competition. Put yourself in the owner's shoes - why should they accept a lower offer just because a buyer really likes the place? You think the other buyers don't? And if you really like the place, why don't you offer more money? You can't like it that much then can you?

Anyway, write a letter if you want to - you're only wasting your own time. Offer more or move on. Put up or shut up.

horseymchorseface

don't burn your bridges with the EA which it might look here you have. They may have other properties you like and they will remember you for a time waster and trouble you are.

EA1

Unless the agent has express written consent from the vendor they shouldn't be informing you as to what other offers have been received. Likewise your offer shouldn't be disclosed to a third party either.


Land registry and Rigthmove are highly accurate as regards sold prices however, they won't include things such as fixtures and fittings or any other side line that may result in one party saving cost during the sale/purchase process. For example a buyer may want to save on an element of stamp duty so rather than the sale proceeding formally at £260,000 it may proceed at £255,000 plus £5000 fixtures and fittings therefore the land registry recording a sold price of £255,000!


You didn't state how long the property has been on the market and a recent instruction may well sell over the asking price (10% seems a lot, and may suggest the property has been under valued). Under valuing is difficult in a open and transparent market as they property will find it's level. This would only be factor if a deliberate act by an agent to knowingly sell to a specific buyer. If it's been on weeks or months (or reduced in price) then the chances of receiving asking price or in an extreme over asking price is virtually impossible.


The only other way to legitimately find out would be to arrange a second viewing (assuming the vendor does the viewings) and see how the land lies. The agent may back track on certain elements previously disclosed and or you can openly discuss the offer with the vendor on the viewing. Bare in mind some vendors won't discuss offers on a viewing and as an agent I would never recommend they do so but take a view on it and see what they say.

KateySW

If it were me, I'd definitely get someone you know to phone up and ask about the property, if there are viewings still available and what the situation is. The information they get will probably tell you a lot of what you need to know...

If you aren't keen on that and you aren't too bothered about burning bridges with the EA, (might be too late for that anyway by the sounds of it), you could send the letter. It might not achieve anything but who knows, the seller may get in touch with you if the EA is fibbing (not saying he is but you never know)/the sale falls through far later down the line. If you really want the house, maybe contact the EA again - say you've had some time to think and crunch some numbers etc, increase if you can and want to but if you can't, just say "this is my final offer, please pass it on even if you aren't sure it'll be enough" and walk away.