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Online agent - suspect 'fake' offer (no sale no fee)

bxboards
bxboards Posts: 1,711 Forumite
in House buying, renting & selling
Hello

Around 3 months ago I listed a property with an online agent under a no sale no fee basis. There was a set up fee payable in advance, which is reclaimable if there has been no offer within 91 days.

Today is day 89 or 90 (went live around 19th / 20th Feb) and I have had an 'offer' of 4k below asking price.

My issue is that the 'person' offering has never even viewed the property! I phoned the online agent, and they said is was unusual, and after calling the alleged buyer, I was told they were based overseas.

I have to say, too be totally honest, this feels like bogus offer as I can't imagine someone is going to upsticks from the continent and buy a house they have never even seen. This offer may also be a way of avoid refunding the refundable set up fee if no offer after 91 days my cynical side says...

Thoughts...does anyone think it's plausible I have a genuine offer from someone outside the UK who has never ever viewed it?
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Comments

  • saajan_12
    saajan_12 Posts: 3,618 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    I agree with you that it sounds like a bogus offer from an inside man, but your issue will be proving it. If they refuse to refund the fee, you have to sue them. What exactly does the contract say about the criteria for a refund and what consititutes an ‘offer’? An offer doesn’t obligate the potential viewer to purchase, so even a token ‘offer’ by one of their staff with no intention of progressing could satisfy the terms of no refund.
  • Thebestmumalive
    Thebestmumalive Posts: 82 Forumite
    We once made an offer on a house without viewing it, whilst living abroad. We knew the area and the style of house well enough to make an offer which was only a little under the asking price.

    The estate agent did tell us they put our offer forward but that someone had made a better offer - so we will never know if they took us seriously or not.

    Its was an unusual thing to do, but I'm just saying it does happen.
  • teddysmum
    teddysmum Posts: 9,471 Forumite
    First Anniversary Combo Breaker First Post
    There is a current thread on here ,where the OP's mum (in Spain I believe) is buying a UK house without seeing it. The [EMAIL="OP@s"]OP@s[/EMAIL] problem was a banking matter,regarding a deposit.
  • hazyjo
    hazyjo Posts: 15,470 Forumite
    First Anniversary Name Dropper First Post Photogenic
    Just 'no offer'? Is that all it's described as? Not that it's 'an acceptable offer' or that they have to be proceedable? Are they cash buyers or is there a chain? Does it mention that that offer has to result in a sale? I would have expected that...


    Jx
    2023 wins: *must start comping again!*
  • bxboards
    bxboards Posts: 1,711 Forumite
    hazyjo wrote: »
    Just 'no offer'? Is that all it's described as? Not that it's 'an acceptable offer' or that they have to be proceedable? Are they cash buyers or is there a chain? Does it mention that that offer has to result in a sale? I would have expected that...


    Jx


    Hello, it is a no chain / cash offer.

    Reading the T&Cs is vague but there is no mention the offer needs to result in a sale although the key term seems to be that they (the buyer) are 'able'

    The timing of this offer is very convenient, and given the alleged offeror has made the offer on the property unseen, it feels fishy to me.
  • saajan_12
    saajan_12 Posts: 3,618 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    bxboards wrote: »
    Hello, it is a no chain / cash offer.

    Reading the T&Cs is vague but there is no mention the offer needs to result in a sale although the key term seems to be that they (the buyer) are 'able'

    The timing of this offer is very convenient, and given the alleged offeror has made the offer on the property unseen, it feels fishy to me.

    As asked earlier, please quote the exact terms in the contract regarding what kind of offer / under what circumstances the fee is refundable. You say 'able'.. so then ask the online agents for proof of funds of the offeror.
  • pretamang
    pretamang Posts: 154 Forumite
    First Anniversary First Post Name Dropper
    I take it that £4k is too low for you to accept?

    Could you still 'accept' the offer and ask that they proceed with the conveyancing process, but given that they've not seen the house you will keep it on the market until they've had a survey done and demonstrated to your lawyer that they have deposit funds in place?

    If none of this materialises then they are clearly not able, whether they exist or not.
  • hazyjo
    hazyjo Posts: 15,470 Forumite
    First Anniversary Name Dropper First Post Photogenic
    Seems very odd. They could just offer themselves or get a mate to ring and offer £60k under the asking price then pull out a week later. Would you have to pay then? There must be more in the T&Cs.




    Surely you don't need to accept £4k less any more than you need to accept say £60k less.


    As above, please quote it.
    2023 wins: *must start comping again!*
  • G_M
    G_M Posts: 51,977 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    We need to see the exact, wording in the contract.

    Please quote it in full.

    It's not that uncommon for overseas investors to buy without viewing - though more often it's off-plan / new builds. As mentioned above, returning expats might do so also if familiar with the area & properties.

    Having said that, the coincidence of timing IS suspect! Call their bluff and accept provisionally and see if they proceed.
  • bxboards
    bxboards Posts: 1,711 Forumite
    saajan_12 wrote: »
    As asked earlier, please quote the exact terms in the contract regarding what kind of offer / under what circumstances the fee is refundable. You say 'able'.. so then ask the online agents for proof of funds of the offeror.

    Hello

    I don't want to quote the T&Cs as it will make the agent identifiable, however the gist of it is, the purchaser needs to be 'able' and to have been introduced before the point the fees become refundable.

    I have asked to see proof of funds - having spoken to them on the phone, they have not seen these themselves.
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