State agent asking more money

AnotherJoe

ifti12 wrote: »

I have one question which I believed you guys has already answered but I want to ask again. Let's say they accept my offer and I instruct the bank and solicitors so I have to start paying for searches, some fee for bank I think. Now once the process started and I invested some money/time and I paid these fees the vendors. can ask more money at anytime before contract exchange? There is no law in the UK to stop this practice and once price agreed and seller started the process/invested some money then they should legally must bound to that sell ? Maybe they "should" be but they arent. They are in Scotland I understand.

Yes, unfortunately they can do anything. Demand more money, demand you wear a chicken costume when signing the documents, decide they dont want to sell after all, whatever. One of the flaws in this system.


If that happened to me* I would agree with new price and then at literally the last minute demand a price drop lower than my original price. Even if it cost me legal fees and they pulled out. You may not be so vindictive.



All you can really do is move as fast as possible to minimise the chances.



* not the chicken costume, the higher price

Davesnave

Understand that some of robatwork's post is what we call "tongue in cheek;" in other words there is a humorous element in it.

Yes, there is more than a grain of truth in what he says, but don't assume that lying and deceit are to be expected in all transactions and from everyone.


We got on very well with our last vendor, much better than we did with the EA or her solicitors, who were appalling. Indeed, if we hadn't made contact with her quite early on, I suspect we would have lost enthusiasm, and probably our tempers too. That's why it pays to keep calm and polite till the situation is fully understood.

G_M

AnotherJoe wrote: »

G_M just be thankful i wasnt drinking or you'd owe me a new keyboard.:D


EDIT; In the UK Joe =male, Jo = Female. Usually.... And in this case.

ooops! :rotfl:

BrassicWoman

G_M wrote: »

Please explain your grading system.


Whilst AnotherJoe always talks sense, how come he gets 96 :T and I get......:(

Perhaps you should start rating the quality of the questions?

G_M

Tempted, but how long before the thought police would ban me.......?

00ec25

G_M wrote: »

Tempted, but how long before the thought police would ban me.......?

blimey, are you still here

Slinky

I note the comment that you have recently bought a house abroad. Do you realise that this will make you liable to pay an extra 3% in stamp duty as your new UK home will be a second property?


You may want to factor this into your calculations if you haven't already.

parkrunner

ifti12 wrote: »

I have clearly told them that I am not increasing £325,000 and 48 hours been passed so do you think it will take couple of days to decide to go for which offer?

ifti12 wrote: »

I just phoned and ES and its actually the vendors who are playing this. They have accepted another offer of £330,000. I have added +3 to this number and I'll keep you updated with the score card.

Oh dear, they saw you coming.

letitbe90

It’s not the estate agent who’s playing you, it’s the seller.

Estate agents won’t be lining their pockets getting a bit more as 1-2% of whatever extra you paid is peanuts compared to the time they have to invest and risk to get you to buy it.

The seller however, is the party who would be interested in doing this as the risk might be worth it for them.

robatwork

Davesnave wrote: »

Understand that some of robatwork's post is what we call "tongue in cheek;" in other words there is a humorous element in it.

Hey don't mind me - I scored 1 x :T which is a 96th of a full JOE, but miles better than a G_M.

I actually completely agree about if possible communicating direct and just use the EA for the necessary paperwork.
Sadly the EAs do try to keep the parties apart which is shortsighted, as IME it can make the chain move much more quickly.