Estate agent favouring developer offer

hazyjo

Erizen wrote: »

I guess what shocked me is that I was given no opportunity to increase my bid, I was expecting the house to go way over asking price, when I saw it had sold what I had offered I was genuinely shocked. It is true that the developer was in a better position but I feel most sellers would want the highest price.

Wouldn't matter to me either. You weren't proceedable. Wouldn't care if you offered £20k over asking price. Might haven taken six months to sell yours. And, yes, EVERYONE says/believes their house will sell quickly.


I also wouldn't necessarily go with the highest bidder. Size of deposit might trump a FTB for me.

ReadingTim

Erizen wrote: »

It is true that the developer was in a better position but I feel most sellers would want the highest price.

They want the highest price in real money that someone can really pay and they can actually spend there and then - not fantasy figures of imaginary money, contingent on the sale of another property at some point in the future, maybe.

You provided the latter - the developer provided the former, and now owns the house.

DCFC79

Erizen wrote: »

Around this time last year an ideal house came up in a lovely road which could have been our forever home. My husband and I listed our own house and decided we would go for it. The house we were after was sure to capture attention due to its potential. It was listed with a guide price and my husband and I put in a strong offer. When talking to the agent I mentioned the vendor may favour a family rather than a developer but he joked he would favour a developer as he could sell the house again in a few months. Anyway I thought nothing of it, we eagerly waited and were told the vendor had accepted a higher offer from someone with nothing to sell. We were given no opportunity to increase our bid, despite offering to do so. I eagerly watched on rightmove to see what the property went for and when it sold. Surprisingly it didn’t appear on rightmove but I saw on zoopla today that it went for the offer we had presented and the sale went through months later (in fact I sold my own house and moved before.) I feel really annoyed and wonder if there was foul play, did the agent perhaps take a bribe? Anyway guess I’ll never know, just wondering if anyone else has had a similar experience?

Id move on if it were me, its been over a year.

Erizen

I failed to mention here that I could have actually bought the house without selling and the agent knew this. Also the reason I have been thinking about this recently is we are in the planning process for our house (plans refused ��) but the plans for the other house which are more substantial went through first time. Not going to lie I’ve definitely got a case of sour grapes.

Davesnave

Erizen wrote: »

Also the reason I have been thinking about this recently is we are in the planning process for our house (plans refused ��) but the plans for the other house which are more substantial went through first time. Not going to lie I’ve definitely got a case of sour grapes.

So the planners have it in for you as well as the EA?

Sometimes plans are refused when not presented correctly or when they ignore constraints. If you have had an application refused, you will know why and possibly what needs to be done to have it passed. Amendments are common enough, so don't take it personally.

It's no secret that developers and the rich use planning consultants to help them with proposals, thus increasing the chances of gaining approval first time.

Erizen

Davesnave wrote: »

So the planners have it in for you as well as the EA?

Sometimes plans are refused when not presented correctly or when they ignore constraints. If you have had an application refused, you will know why and possibly what needs to be done to have it passed. Amendments are common enough, so don't take it personally.

It's no secret that developers and the rich use planning consultants to help them with proposals, thus increasing the chances of gaining approval first time.

I’m not complaining anyone had it in for me, just explaining why i was thinking about this recently. I noticed their plans because we had same architect. It’s very much your luck when it comes to planning applications.

Marvel1

Erizen wrote: »

When talking to the agent I mentioned the vendor may favour a family rather than a developer

Me personally I wouldn't care, I just want rid of the property.