Can asking price offer be rejected even if there are no other bidders?

JS93

We’ve made an offer on a house for the asking/guide price. It’s been almost a week since then and we know they’re holding out for higher offers but have had none yet. The EA explained that the ad says ‘offers above’ and they were hoping to get more. However, two other identical houses in the street have been sold in recent months for 5-10k less than what they have listed the house for, granted they have done some work to the house that reflects it being worth a bit more. If they do not get another offer can they reject our offer even though it’s for the price they’ve listed it at?

davidmcn

Legally you mean? Yes, they can reject any offer for any reason they like (other than on the basis of protected characteristics). 

princeofpounds

Yes, they can. They can reject your offer for any reason they like (except maybe protected characteristics like race, disability, orientation etc....!)

You should just put a short time limit on your offer and start viewing other houses, while letting the EA know that they are wasting everyone's time (no need to have a proper go at them - they won't be any happier than you are - just state the fact).

Once the vendors know you are no longer 'in the bag', it might focus their mind on making a decision.

RelievedSheff

Yes it can.
The vendor is under no obligation to accept any offer.

AdrianC

JS93 said:

If they do not get another offer can they reject our offer even though it’s for the price they’ve listed it at?

Of course they can.

lisyloo

Does protected characteristics apply to private transactions?
moot point as they don’t have to give a reason, but I thought if you want to discriminate in Your  private life then you can, for example if I want to go for a drink with the girls then I can.

davidmcn

lisyloo said:

Does protected characteristics apply to private transactions?

They certainly apply if it's being marketed via an estate agent, and even if selling privately they would apply if the vendor is advertising the property. 

Your decision about who to go for a drink with isn't within the ambit of the Equality Act. Selling or letting property is. 

AdrianC

davidmcn said:

lisyloo said:

Does protected characteristics apply to private transactions?

They certainly apply if it's being marketed via an estate agent, and even if selling privately they would apply if the vendor is advertising the property. 

Your decision about who to go for a drink with isn't within the ambit of the Equality Act. Selling or letting property is. 

If somebody is stupid enough to say "I'm not selling it to them because they're female/gay/black/disabled/trans/<insert>", then that's a rather different matter from "Well, I think I've changed my mind about selling" or "I preferred the other offer", or even "Well, I didn't think you were the right fit for the community", gawd help us.

steampowered

I'd put the offer on the table, and tell the EA that you'll give the vendors a week to think about it. The offer will be withdrawn after that as you'll have to keep searching for other properties.

Leave it to the EA to try and convince the seller. It's in the EA's interest to get a sale. 

The sellers might be nervous, greedy, unrealistic or just not made their minds up to sell.  That's their business at the end of the day and nothing you can control. Some people like to fool themselves into thinking their house is worth more than it actually is, especially if they don't have an urgent need to move!