Estate agents not letting house go on the market after offer!

Rinzler

So we have recently reduced the price on our house and we have had 3 offers for full price and an increased offer on one of them.

The estate agent that we use is adamant that we should agree to this offer and he said he will take the house off the market while the buyer applies for a mortgage. We are currently applying for planning permission on the property in the mean time and the purchase also relies on this.

We are in the position where we can't find any suitable houses with the offer that we have received and it is in our own interest to get the highest price as possible which will make buying a house easier for us during these times.

This is the strange part the estate agent is not allowing the house to go on the market if we refuse this offer. He has also told us there have been enquiries coming in about the house but he has refused viewings and has told them there have been offers and the house is off the market (as if it's a done deal)

I am just stuck on what do to? We have had the house on the market for about 3 years. We have had offers but not for the full price as we have now but surely isn't it in their own interest to get a good price for us and to get as much offers and viewings as possible?

Thanks for any replies and advice

ProDave

Let me get this right?  You have several offers one for over the asking price, yet you don't want to accept that and want to market it higher?

And if it needs PP to achieve that (why?) then why did you put it on the market until you had the PP?

orangecrush

I'm confused.  You reduced the price of your house, and someone has offered that price, but it isn;t enough for you to buy an onward property?  Why did you reduce the price?  If it's been on the market for 3 years, I would just take whatever offer you have right now; if you haven't had a higher offer before, what makes you think you will get a higher offer now, in very uncertain times?  I don't really get it. 

As to what to do, the estate agent can't make you sell.  I presume after 3 years you're well out of the tie in period, so if you don't want to accept the offers made, just say it isn't for sale and re-list with another agent.  But... would you wait another 3 years?

John_Pierpoint

You are expecting your buyer to up their offer while they are expending money on surveyors and other fees and perhaps having discussions with architects?

Whose Idea was it to make alterations to the property? Permitted Delelopment rules are pretty generous these days and Boris has already come up with the intention to give extra story rights as permitted development - so what is it you need planning permission to obtrain?

Legally the buyer jumps first so you can always refuse to sign legally on the very last day.

In theory any future estate agent .is meant to tell future purchasers why the previous deal fell through, even if they forget to ask!?!.

[I don't think we have repealed that bit of EU inspired legislation yet]

Perhaps you are actually employing an ethical estate agent aware of his legal responsibilities?

Rinzler

Yeah well it is very strange as we have been getting offers for for well under the asking price for a long time not even at the reduced price as it is now and then all of a sudden we have had 3 offers for the full amount within a week?

This has totally changed my view on this property and it's giving us more confidence that we can get a better price.

The house will not sell without planning permission as it is in a predominantly student area and the only people that want it are buy to let buyers.

I just feel it's a bit strange that the estate agent is telling us that if we don't accept this offer he will not help us to sell the house any further...

I also forgot to mention that there is no indication on the website that we have had offers over the asking price and they have taken the board down on our house.

Wouldn't it be in our own interest to keep the house on the market and keep the interest high until the planning permission comes through?

Thanks

kazwookie

Just accept the offer and get things moving with a solicitor

greatcrested

Whilst I agree with the sentimants expressed above, the simple aswer to your questions is

* you are not obliged to accept any offer, whatever the agent says

* and if you've not accepted an offer and the agent declines to market the property, and/or obsrructs viewings, then clearly that agent is in breach of contract so you could

a) write telling them the contract is null and void due to their actions and

b) instruct another agent- be careful to inform the new agent of the names of every introduction made by agent 1 though !

ProDave

I just feel it's a bit strange that the estate agent is telling us that if we don't accept this offer he will not help us to sell the house any further...

The estate agent markets it for you on the understanding when it sells they are rewarded for their work by the commision you pay them.

Perhaps after marketing if for 3 years you now refuse to accept an offer above asking price, they might think you are a chancer and will never agree to a sale and don't want to waste any more time on your case?

tacticalbanjo

After 3 years the estate agent probably just wants it off his books. No doubt he thinks that you have no interest in actually selling the house - you have three asking price offers and you are making excuses about accepting one.
The estate agent doesn't get paid until you sell and the difference in commission for getting you an extra few grand is peanuts. So yes, he would rather you just took the offer and paid him rather than mess about waiting for better offers that might never come. I'd cut my losses in the same situation.

[Deleted User]

ProDave said:

I just feel it's a bit strange that the estate agent is telling us that if we don't accept this offer he will not help us to sell the house any further...

The estate agent markets it for you on the understanding when it sells they are rewarded for their work by the commision you pay them.

Perhaps after marketing if for 3 years you now refuse to accept an offer above asking price, they might think you are a chancer and will never agree to a sale and don't want to waste any more time on your case?

I agree ! I can imagine the agent is sick of you !
3 years on the Market ( 3 years !!!! ) and you finally get offers and still dont want to accept 
why on earth did you not apply for planning permission 3 years ago 
tbh - you sound like a nightmare seller. 

swingaloo

So someone has offered above the asking price and you want to leave it on the market. How would you feel if you were the buyer? Change agents as the one you have now has no faith in you and next time do the honest thing.  Price it at a price you will accept rather than wasting buyers time.