First offer & sold price

PL800

I've submitted an offer on a property, which was turned down. The agent said that it was less than the seller had paid, wouldn't say how much, but quoted the Land Registry - where I got my figures from. I checked again and can only find the figure I had before. When querying with the agent (their colleague, as the one we were dealing with was away) they said that the Land Registry isn't always up-to-date as you have to pay £3 to submit information to it and not everyone does - really?
The property was only sold a year ago, and the sold price is from last year, and hadn't been sold for a few years prior.

Am I being messed about here?

sal_III

The EA is talking rubbish. Regardless, the motivation of the vendor to refuse your offer is rather irrelevant . Trying to prove they used false pretence isn't going to do you any good.

It's quite possible the vendor includes expense like SDLT, not only the purchase price on LR in their calculations of how much they paid.

Comms69

PL800 wrote: »

I've submitted an offer on a property, which was turned down. The agent said that it was less than the seller had paid, wouldn't say how much, but quoted the Land Registry - where I got my figures from. I checked again and can only find the figure I had before. When querying with the agent (their colleague, as the one we were dealing with was away) they said that the Land Registry isn't always up-to-date as you have to pay £3 to submit information to it and not everyone does - really?
The property was only sold a year ago, and the sold price is from last year, and hadn't been sold for a few years prior.

Am I being messed about here?

You're not being messed about - you didn't offer enough. The reasons are irrelevant.

AdrianC

Why does a previous price make any difference anyway?

The vendor decides whether your offer is acceptable, not the EA.

Make the offer you think the property's worth. If the vendor disagrees, then there's no deal.

MysteryMe

What the vendor paid is irrelevant as far as you are concerned. What the EA says may be true but that does not mean you have to offer more than you wish to offer. If your turned down offer was the most you were willing to pay then continue looking.

pinkteapot

The vendor's reasons for refusing an offer are largely irrelevant. Simply put, they have a price they want to achieve and you haven't offered enough. You won't get anywhere trying to argue the basis for their decision. You just need to decide whether this particular house is worth more to you, or not.

eddddy

Getting into arguments with the EA isn't generally a good idea.

You want the EA to help you by trying to persuade the seller to accept your offer.

Perhaps the EA has lied to you, but making a fuss about it won't help your business relationship with the EA, and it won't make the seller accept a lower offer.


Essentially, it's best to rise above that sort of stuff.