Estate agents only selling to specific buyers

Thrugelmir

MoneyTreeMe said:

AdrianC said:

MoneyTreeMe said:

There's a problem developing in the property market. 
It's seem like estate agents are prioritising selling to cash rich investors rather than ordinary everyday people.
For example, I phoned local estate agents to make enquiries about a 1 bed flat. Many said it was 'unavailable' and 'am I cash buyer' etc... I am a cash buyer - but a first time buyer. I felt like they are trained to do some kind of risk assessment when selling. It's absolutely ridiculous. Are they allowed to do this - to take control of the free market and only sell properties to people they think are most suited to the property? It feels wrong and unfair to me. Is there anything I can do? Estate agents are getting in the way between me and the seller.  Can I just contact the seller and say here is X amount of money will you sell your flat to me?

Of course you can. And they'll probably say "Speak to the EA".

But pause and ask yourself why the EA is doing this... After all, surely it's a good thing to sell as quickly as possible?
Is it because that flat's unmortgageable, for some reason? EWS1? Short lease? Proximity to a business that'd make lenders shy away?

No point in having a buyer go through all the legals only to find at the last minute that - surprise! - they can't buy because nobody will lend against it.

I feel like the elephant in the room is class system, maybe?  I'm not from the local areas so maybe they think I'm high risk or strange to buy it outright as I'm quite young?  

I got my friend to phone and one estate agent said 'RENTING ARE YA' because he didn't have a British accent... 

The flats I'm interested in are all studio and 1 bed flats at the bottom of the housing market.  Ideally with 100 year lease+.

For example, I phoned to enquire about the leasehold of 1 particular flat and the estate agent put the phone down on me.  I've had them coughing down the phone etc.  It feels like abuse tbh.

Have you actually arranged to visit any offices in person to register yourself as a potential buyer? 

MovingForwards

You're not a FTB:
https://forums.moneysavingexpert.com/discussion/6241933/benefits-for-unemployed-flat-owner#latest

grumiofoundation

MoneyTreeMe said:

Hi,
There's a problem developing in the property market. 
It's seem like estate agents are prioritising selling to cash rich investors rather than ordinary everyday people.

um you aren't that ordinary if you have 200k in cash. 
https://forums.moneysavingexpert.com/discussion/6249388/help-me-choose-cambridge-or-edinburgh/p1

For example, I phoned local estate agents to make enquiries about a 1 bed flat. Many said it was 'unavailable' and 'am I cash buyer' etc... I am a cash buyer - but a first time buyer. I felt like they are trained to do some kind of risk assessment when selling. It's absolutely ridiculous. Are they allowed to do this - to take control of the free market and only sell properties to people they think are most suited to the property? It feels wrong and unfair to me. Is there anything I can do? Estate agents are getting in the way between me and the seller.  Can I just contact the seller and say here is X amount of money will you sell your flat to me?

Maybe they won't sell to you as you are telling them you are a FTB when you aren't?
https://forums.moneysavingexpert.com/discussion/6241933/benefits-for-unemployed-flat-owner#latest

Edit: beaten to it by MovingForwards' faster detective skills

Blue_bell_20

They may be a FTB and their flat in Edinburgh is a potential scenario? Eg (I have a flat, can I still claim benefits?) before deciding to buy a house/flat and then need support. Although in that scenario using all the cash you own (200k savings) to buy a flat, and then claim benefits probably wouldn’t work. At a guess. 

HampshireH

So anyone claiming Housing Benefit to pay the bills wouldn't have 200k cash laying around.

That is of course if you bought whilst trying to claim?

I suspect the agents feel you are wasting their time. You must be giving them that idea 

SDLT_Geek

OP has a miscellaneous set of threads going https://forums.moneysavingexpert.com/discussion/6245188/estate-agent-blocking-offer/p1

rik111

Think the estate agents may have this guy sussed, hence they are not jntersted in playing along.....

katie91_2

Does the flat have an EWS1? If not it may, like the majority of flats in multi-occupancy buildings on the market at the moment, be only available to cash buyers.