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Buying etiquette

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joehfax
joehfax Posts: 25 Forumite
in House buying, renting & selling
Hi

As a first time buyer I just wanted to check s couple of things, we went to view a house on Saturday morning, we liked it so put in an offer, the house is from a deceased estate so is being handled by solicitors. We were told they had an offer already so will put ours forward with the other and any forthcoming offers from booked viewings, we booked for a second viewing tonight and whilst there were told there were 3 offers. What I am wanting to do is phone and put a higher offer in but want an answer within a day or two and for them to take the house off the market. Is this something that happens? Is the estate agent allowed to tell us the other offers? I'm guessing not.

Thanks
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Comments

  • ThePants999
    ThePants999 Posts: 1,748 Forumite
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    edited 21 May 2018 at 8:00PM
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    Sadly, buying from a deceased person's estate means that you're dealing with executors, who are duty bound to act in the best interests of the estate by getting the best possible price. Individuals will sometimes take liberties with that if they're also the beneficiaries :) but solicitors acting as executors are unlikely to. So taking it off the market while offers are still coming in is something they're unlikely to do.
  • G_M
    G_M Posts: 51,977 Forumite
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    It's also worth asking whether Probate has been granted. If not, it can't be sold till it is. That might be a week away.


    Or 6 months......
  • dunroving
    dunroving Posts: 1,881 Forumite
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    I bought recently in a similar situation. Lots of interest, offers invited, decision made within 48 hours. Somewhat similar to "best and final offers" in Scotland.

    No, you don't get special treatment and have the estate agent tell you what everyone else has bid.

    Imagine how you would feel if you bid in this situation, and the estate agent told another bidder what you bid, so they could bid £1,000 more and "beat you". When the shoe is on the other foot, hopefully you can see the ethical unfairness.
    (Nearly) dunroving
  • Asl77c
    Asl77c Posts: 87 Forumite
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    you will have no luck in getting it off the market. We had this situation with our first house. went to best and final offers. We ended up getting it as the solicitors accepted the highest offer - albeit by all of about 500 - which was ours with a mortgage, which they went with over the next highest who was a cash buyer. They will want the most amount of money in the end and will want it marketed for a certain amount of time before likely still inviting best and final offers.
  • PhilE
    PhilE Posts: 566 Forumite
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    Estate agents are compulsive bulls***ters. Make an offer based on what you think the place is worth, bearing in mind market value.
  • dawyldthing
    dawyldthing Posts: 3,438 Forumite
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    G_M wrote: »
    It's also worth asking whether Probate has been granted. If not, it can't be sold till it is. That might be a week away.


    Or 6 months......

    Second this. Plus the 'offers' might be just bumping the price up. Hold fire, there's plenty of houses generally, play them at their own game
    :T:T :beer: :beer::beer::beer: to the lil one :) :beer::beer::beer:
  • tori.k
    tori.k Posts: 3,592 Forumite
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    Consider going in and having a chat with the estate agent, see what else they have on there books or coming up, let them put a face to the name to see you are a serious buyer, and as FTB looking to complete as soon as possible.
    In reality we only managed to get this house, (also probate) because the EA could put faces to our names they knew we had a house fall through, was living in rented and good to go, we were not the highest offer but in a good position and importantly for them the most likely for a speedy complete. so win win for everyone.
  • shortcrust
    shortcrust Posts: 2,697 Forumite
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    My seller turned down an offer made in a similar way because he felt bullied. Such tactics can backfire.

    It's obviously different when dealing with executors, but think how'd you'd feel if someone tried to make you rush an important financial decision like that. If nothing else it would make me think that they weren't confident their offer would remain the highest.
  • Surrey_EA
    Surrey_EA Posts: 2,042 Forumite
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    joehfax wrote: »

    Is the estate agent allowed to tell us the other offers? I'm guessing not.

    Thanks

    There is nothing to prevent the EA divulging the level of other offers to you, but if they do be prepared for the level of your offer to be disclosed to any other interested parties.
  • dunroving
    dunroving Posts: 1,881 Forumite
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    Surrey_EA wrote: »
    There is nothing to prevent the EA divulging the level of other offers to you, but if they do be prepared for the level of your offer to be disclosed to any other interested parties.

    England and Scotland my be different, but I am pretty sure that up here if the house goes to a closing date/last and final offers, the solicitor cannot legally divulge offers to other buyers.
    (Nearly) dunroving
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