Offer accepted on house - but then taken to best and final offers and lost out!

Louiseap2503

Deleted - no longer need

AdrianC

Louiseap2503 wrote: »

I think it's just greed on the EA's side

The increased fee the EA received would have been 1.5% of the difference between your offer and the eventual buyer's offer. How much was that? A tenner?

Just because you talk to their FA doesn't mean you can't eventually take a mortgage from somebody else. However, the EA can certainly spin a refusal to talk to their FA as "Well, we're not sure they're actually proceedable, since they're refusing to provide us with their financial details." to the buyer, who is the ONLY person who decides which offer actually gets accepted.

marliepanda

The EA cannot Make a vendor do anything. The EA works for the vendor.

The vendor 100% could have said 'no, were selling to Louise'

They chose to try and get more money, NOT the EA. the vendor are pulling your led and trying to come off nicey nicey.

BLOW_FLY

Walk away, find another house.

Never use or deal with this EA again and recount your story to as many of your friends as possible to ensure the EA gets the reputation they deserve.

They are lying and dishonest scum who are not even needed anymore during house transactions.

BF

blackshirtuk

BLOW_FLY wrote: »

Walk away, find another house.

Never use or deal with this EA again and recount your story to as many of your friends as possible to ensure the EA gets the reputation they deserve.

They are lying and dishonest scum who are not even needed anymore during house transactions.

BF

Hasn't the agent got the best deal available for their clients, the vendor??

Not defending their underhand actions but it is up to the vendor if they take their agents advice.

pinkshoes

I would contact the vendor again, and say you feel sad that they accepted your offer and then changed their mind to go with the higher offer, but to let you know if the sale falls through.

At least that way, if the EA is playing dirty to get commission, the vendor will then know about it...

parking_question_chap

Louiseap2503 wrote: »

Hi all


Any advice and anyone else been through this?

Yes, try to forget about it as soon as you can.

Moaning/feeling sorry for yourself will not change anything.

I guess thats not what you want to hear.

Estate agent has done nothing wrong, other than probably should not have got your hopes up. They are working for the seller, and the seller wants the best price.

To cut all ties with an agent over this would be foolish, response to advice posted above.

Cakeguts

Two things really. The agents guess on the price to market the property at was too low and the offer that you made based on the prices that you had researched in the local area of similar properties was too low. A house is worth what someone will pay for it not what the agents put on their marketing material. For this house the original asking price was too low compared to what people were willing to pay for it.

Secondly it was really lucky that this happened before you had spent any money getting a survey etc. It was very likely to happen at some time with this house because the agents got the asking price wrong by it being too low.

Walk away and find one where the asking price is more realistic for the property.

katebl

You're only being told by the agent it's considerably higher though aren't you? Check with the vendor. .. to me it's obviously nothing to do with the price but they didn't want to lose out on the extra few hundred fees for sorting the mortgage in house, which I believe is against the code of practice if they are a member of the regulatory body

Thrugelmir

How did you contact the vendor on the various occasions?

Louiseap2503

Thanks. I am not feeling sorry for myself at all. Infact after all they put us through i wasn't fussed in the end.
We have got over it and booked other viewings, but the EA has really annoyed me. I hate seeing houses i like come up for sale with this specific one, especially with all the bad reviews i have heard about them!