Offers...

vegas07

do EAs have to confirm all offers in writing or just the one that's accepted? or have i got this all totally wrong (very likely!)

thanks in adavnce

slipp_digby

I assume you mean to the vendor?

I believe that they need to pass on all offers in writing to the vendor. The only exceptions are where the vendor has instructed the EA not to pass on offers which dont meet a certain valuation or criteria. So for example, the seller may say - dont inform me of offers below £170k in which case the EA can reject the offer.

Some EAs are lazy and won't do this.

cattie

There is no need to put offers in writing, but it is normal practice for the accepted offer to be put in writing with details of the buyer's solicitor & mortgage status.

vegas07

thanks for the reply.

i found this about the Ombudsman of Estate Agents code of practice:

One of the most important provisions of the strengthened Code is that estate agents must confirm in writing to buyers who have made an offer on a property that their offer has been passed to the seller. The previous Code already obliged the agent to pass on all offers in writing to the seller and this continues.

will it only apply to members of the OEA scheme do you think?

basically i'm just wondering if i should be expecting confirmation of our (rejected) offer from the EA?

many thanks

dweeby

vegas07 wrote: »

basically i'm just wondering if i should be expecting confirmation of our (rejected) offer from the EA?

We rejected an offer from a house viewer, and our estate agent (your-move) wrote to both parties saying "offer rejected".

Having said that, I don't have much respect for EA's and it wouldn't surprise me if they didn't always do what they're supposed to! especially if it's work for no gain to them (like putting an offer rejection in writing)!!

simonjstone_2

they only have to put offers forward to the vendor, not the prospective purchaser. They dont have to put them to the vendor if the vendor has said dont pass me any offer below x amount

slipp_digby

Estate Agent Act 1979 covers putting in writing offers to the vendor, but doesnt mean they need to inform you

Informing clients about offers
You must give your clients written details of all offers received from potential buyers. This information must be passed on promptly. It can be sent by hand, post or fax.

You should keep a written record of all offers that you receive.

If your client tells you in writing that it isn't necessary to pass on certain offers, you don't have to write in those circumstances. For example, this could happen if the client doesn't want you to write with offers below a specific price level.

slipp_digby

vegas07 wrote: »

will it only apply to members of the OEA scheme do you think?
many thanks

yes, but the agents we dealt with dont give two ****s about the OEA scheme and did what they liked, even though they were members

vegas07

thanks all - starting to see what i'm up against...