Can i contact the Vendor direct?

nippey2

Hello,

Me and my partner found a house we liked and placed a bid of 165k (on market for 180k) which after they had considered it, turned it down but came down to 175k. The vendors are desperate to move as the man has already re-located 300miles for work and has a house lined up while she is stuck in the selling property with the 2 kids. One buyer has dropped out before.

We placed another bid of 169k and the E Agent said that they put it on hold for 2 weeks to see if any more bids came in (which they didn’t) We didn’t here from the vendor after the 2 weeks had elapsed and on calling them to say we are first time buyers, we know what the market is like, vendors situation, that it was bought 3 years ago for 145k and we have got another house to look at, the E Agent suggested we look at the other house!!

We are not entirely convinced that the Vendor is getting all the information. Given their desperation to move, we find it puzzling that they will not budge. We are thinking of speaking to the Manager of the Estate Agent regarding their less than competent employee but what about posting a note direct to the vendor?

Is this allowed??

PhilipB_2

Something similar happened to me some time ago.

It transpired the Manager of the estate agency wanted the property for himself for renting -out.
My offer to buy never go pass him and I suppose all other punters got the same response.
Say to the estate agent you agree to the full asking price - then once the solicitors are communicating (make sure you don't use a firm known to the estate agency) you can renegociate before contracts are even drawn up.

Don't be supprised if the agents then says proprty is already under offer or even sold STC then you can be sure there is somehing fishy going on.

cattie

How much the vendors paid for the house 3 years ago is entirely irrelevant, so it's not wise to try to use such information as a bargaining tool.

nippey2

I wouldn't say its entirely irrelevant seen as these very websites that provide you with this information are advertised on this website.

Its good to use it as a guage and also what the other houses in that area were bought and sold for.

Generali

I'd get in touch with the vendor myself.

Golden rule #32: Never trust an estate agent.

simonjstone_2

many vendors do not want to drop so steeply and they can not be budged. estate agents aren't always out for the higest price espically in this volitile market, its about turnover so the vendor reluctance to accept is not the agents fault. i would not suggest offering full asking then trying to renegoiate as if it all falls through you would be left with solicitors bill

courtjester

It's relevant, but only if you take account of price variations in the interim - you can't just refer to the price paid of £145 and attempt to deny the vendor any rise in value since purchase - after all that is what property assets are all about - the same argument would go for attempting to buy shares at a 3 year old price rather than today's price.

If prices in the area have risen by 15% since 2004, then a £145k value would now be around £170k... so in that regard, cattie is absolutely right to say the old price is not a bargaining chip. It depends on the precise date of the original purchase as well as any investment made in the property by the vendor since.

Your main point about contacting the vendor direct - go for it. There is no law that says you have to deal through the estate agent - the agent's contract is with the vendor not you, so you are free to do what you wish. Only if the vendor insists that you communicate exclusively through their agent rather than direct would there be any problem.

I think it's a good thing generally to have direct communication, albeit conducting formal correspondence through the appointed agent. as a matter of protocol unless the parties agree otherwise. Bear in mind that the vendor will be paying their agent a substantial commission on the sale, so it is reasonable for them to expect the agent to take the workload of communications.

slipp_digby

why not just ask the EA for confirmation in writing that the offer was passed on the vender

they are obliged to pass all offers to the vender, unless the vendor has instructed them otherwise e.g no offer below £170k.

stick it in writing including all relevant stuff like you are a FTB, you can complete in x weeks.

you risk alientating both the EA and the vender if you try and bypass the EA, or if you complain.

be careful. maybe they went with an agent because they didnt want to deal directly with potential buyers?

Edit: EA does sound a but crap for not trying to bridge the gap between your offer and the asking price.

pinkshoes

nippey2 wrote: »

The vendors are desperate to move as the man has already re-located 300miles for work and has a house lined up while she is stuck in the selling property with the 2 kids. One buyer has dropped out before.

Did the estate agent tell you this? One person's definition of "desparate" to move might be completely different to someone elses, and perhaps they only said that for a quick sale rather than a lower price?

If they have a house lined up, maybe they NEED to sell this one for at least £175k, otherwise they can't afford to buy the other property they've seen, in which case there would be no hurry to sell their own just yet! (catch 22 sorta thing!)

Estate agents like to bend the truth, so I'd take ANYTHING they say with a pinch of salt.

Perhaps the couple are considering renting their property out if they don't get the desired price?? Who knows!

Rover

Post a letter of your offer to the vendor with a contact number.
It is not illegal.
The murky waters appear if the vendor trys to cut the EA out of his fee.

poppy10_2

Rover wrote: »

Post a letter of your offer to the vendor with a contact number.
It is not illegal.
The murky waters appear if the vendor trys to cut the EA out of his fee.

Yes, and that's the vendor's responsibility, not yours.

Sounds like the EA is being well dodgy, probably wants to buy the house himself at a discount so is pretending to the vendor that noone else is interested. Get in touch directly.