Buyers wants separate private arrangement for part of sale value

Marvel1

seeking786 wrote: »

The agent is asking me to now put in writing that I don't want to proceed with the sale. I think I'll be talking to my solicitor first.

Ask them to put in writing what they are proposing (they won't).

seeking786

Just wanted to say a big thank you for all your comments and suggestions. I'll keep you posted how it pans out.

hazyjo

What shady behaviour from the EA!


Just be ultra careful what you put in writing - and make sure, as suggested, they are just as willing to put what they are requesting in writing too.

steampowered

Don't put anything to writing to the EA regarding not accepting the sale.

Instead, you should state in writing to the EA that the two-sale arrangement would constitute mortgage fraud, as advised by your solicitor.

Also mention that, if the EA pushed you into accepting that arrangement, the EA would be party to that fraud, and may be reported to the police.

theartfullodger

steampowered wrote: »

Don't put anything to writing to the EA regarding not accepting the sale.

Instead, you should state in writing to the EA that the two-sale arrangement would constitute mortgage fraud, as advised by your solicitor.

Also mention that, if the EA pushed you into accepting that arrangement, the EA would be party to that fraud, and may be reported to the police.

Spot on...........

DavidF

Think if I were the seller (op) I would be making full use of my lawyer/solicitor. All correspondence through them from now on thank you. It may cost you a bit more in time but at least you can be "sure" that they will be operating in your interests alone and within the law.
I think EA is !!!!ed off that he "backed a loser" and is looking for someone to cover his hours....tough !! He should have done his job with regards to assessing the funds/finances available to the buyer....I mean that's one of their main jobs lol.

As an aside a friend of mine who knows a few EA's pretty well (been in the BTL game for 30 years) always gets "the call/nod" when a certain "type" of property comes up within the local area...no big deal there. But I do remember say about 15 years ago he was informed of one of these properties and as usual put in his offer....the EA in question called my mate up on the Friday to inform him that 2 other buyers had also put in offers at the same price point.....Mate said ok thanks for letting me know. His next move was to draw £1000 in cash out of his own account and off he popped round to the property that Sunday (sellers were still resident)...and he knocked their door with flowers and chocolates and told them who he was and he was one of the buyers who had submitted an offer on the property - he then proceeded to offer them £1000 in cash if they sold to him and also mentioned that he was a cash buyer no chain ect ect.....They gladly accepted and the deal was struck...albeit with a £1k sweetener off the books...oh and a bunch of flowers and box of chocs lol.

JimmyTheWig

I'd send the following in writing...

Dear EA,

As you are aware, I have received an offer for my property of £435k, comprising of an official purchase price of £410k plus an extra £25k as a private agreement.
I am under the impression that you want me to take this offer, even if it means getting a new conveyancer and not mentioning the extra £25k.
If I have understood this correctly, this means that you are encouraging me to commit fraud.

If I have mis-understood, please confirm, in writing, that you are not suggesting that I take such a deal, and that if this is the deal on offer then you would not expect me to pay half the fees if I reject it. Please also confirm if there is any offer on the table that you do suggest I accept.
If you are unable to confirm this in writing within 7 days then I will take this to mean that the contract between us is frustrated and I will ask another agent to market my property. If this is the case then I will not expect to be liable for any fees or notice period.

Regards,
seeking786

davidmcn

DavidF wrote: »

His next move was to draw £1000 in cash out of his own account and off he popped round to the property that Sunday (sellers were still resident)...and he knocked their door with flowers and chocolates and told them who he was and he was one of the buyers who had submitted an offer on the property - he then proceeded to offer them £1000 in cash if they sold to him and also mentioned that he was a cash buyer no chain ect ect.....They gladly accepted and the deal was struck...albeit with a £1k sweetener off the books...oh and a bunch of flowers and box of chocs lol.

Or they could have kept the £1k/flowers/chocs and sold to someone else! This is the trouble with doing stuff off-contract.

hazyjo

I'd actually request everything in writing. Had to do that with an EA once and blocked their number.

Maybe:

Dear EA

As you are aware, I have received an offer for my property of £435k which I am happy to accept. I am not however happy to accept an offer of £410k with a 'cash bung' of £25k. That would be mortgage fraud[, and would contravene money laundering regulations] (as advised by my solicitor).

Please would you put all future communication in writing. I shall no longer be accepting phone calls.

I confirm I am not liable for your fees if you cannot find me a willing and proceedable buyer at a price I am happy to sell at.

Many thanks,

seeking786