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EA fibbing?
Comments
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No seller in their right mind would accept an offer from an unproceedable buyer and take the property off the market.
Our first 'offer' came from an unproceedable buyer who, 4 months on has still not sold their property.
We ended up accepting an offer from someone proceedable 2 weeks later.
EDIT
Just seen your 2nd comment. Yes that does sound odd, also to tell you what the offer was. They may well come back to you if this couple doesn't manage to sell.0 -
OK, I think I see what you mean. You are looking to buy a house and the estate agent has told you that someone else offered £210,000 but this was declined because they hadn't sold their house yet? And you think that they have made it up to get a higher offer out of you? Is that it?
If so, there is nothing unusual about this at all. It happens every day. I can't of course say whether it is true in this case.0 -
Is the ES fibbing? I think so. They don't accept an offer because the clients have not sold their property yet but tell us the figure that was offered and declined.
Why do you think the EA is fibbing?
It all sounds very plausible to me.
(FWIW, the EA would be breaking the law if they told you there was an offer that didn't really exist. I'm sure some EAs do break the law by inventing offers. But what makes you think this is an invented offer?)0 -
I never heard of estate agents not accepting an offer on a property on the grounds that the people wishing to buy a property have not managed to sell their house yet.??
Secondly the EA telling us this couple offered north of 210000. Frankly the vendors should have chewed there hands off.
I smell a rat !!!
Estate agents dont accept offers, vendors do.
The vendors may well have said to the EA "we arent interested in people who cant currently buy because they havent got an offer on their house" (in the jargon this is "non procedable").
Why would vendors "chew their hands off" if the buyers arent in a position to buy? Its a near meaningless offer.
All this is very common, so common that the fact you haven't heard of it says more about your ability to "smell a rat" than whether there are any rats.0 -
steampowered wrote: »It isn't the EA's decision.
The EA is legally required to pass the offer to their client, and the client decides how to proceed.
The EA may well advise their client not to take a property off the market until the potential buyer has sold their property.
Unless the vendor has instructed the EA not to pass on bids where the buyer isn't proceedable.0 -
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As has already been pointed out, the EA neither accepts nor declines any offers themselves, they take instructions from their client who is the vendor of the property.
It would hardly be a unique situation where an offer from a buyer who had yet to agree a sale on their existing property was not accepted by the vendor.0 -
Apologises I'm tired and making no sense. EA said it's their policy not to accept offers from people who have not sold there property.
So ,I'm chain free and thought the above was odd. And I was even more amazed when he told me how much they had offered.
This just sounds like a simple misunderstanding.
When an estate agent says they "do not accept offers from people who have not sold their property", what they mean is they "do not accept offers that are dependent on a buyer being found for another property".
If you are chain free, then tell them that. Most estate agent will qualify your offer by asking how you will fund it. e.g. you might say "I have £40,000 in an ISA and will be taking out a mortgage of £150,000. I am currently employed earning £45,000 per annum."Note: Unless otherwise stated, my property related posts refer to England & Wales. Please make sure you state if you are discussing Scotland or elsewhere as laws differ.0 -
This just sounds like a simple misunderstanding.
When an estate agent says they "do not accept offers from people who have not sold their property", what they mean is they "do not accept offers that are dependent on a buyer being found for another property".
If you are chain free, then tell them that. Most estate agent will qualify your offer by asking how you will fund it. e.g. you might say "I have £40,000 in an ISA and will be taking out a mortgage of £150,000. I am currently employed earning £45,000 per annum."
He's not the one who had the offer declined.0 -
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