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  • FIRST POST
    • Margot123
    • By Margot123 13th Feb 18, 9:08 AM
    • 842Posts
    • 865Thanks
    Margot123
    Ignorant Estate Agent - letter required?
    • #1
    • 13th Feb 18, 9:08 AM
    Ignorant Estate Agent - letter required? 13th Feb 18 at 9:08 AM
    My buyers asked for a further reduction prior to exchange.

    I emailed the estate agent saying 'no'; I even put it in capitals, bold and underlined!
    The EA has chosen to ignore this (although has responded attaching the email) saying 'I think we need to renegotiate'.

    The buyer's solicitor is now under the impression that I am willing to renegotiate.

    Do I need to put this NO in a good old-fashioned letter, sent by Recorded Delivery?
Page 1
    • davidmcn
    • By davidmcn 13th Feb 18, 9:18 AM
    • 7,827 Posts
    • 8,002 Thanks
    davidmcn
    • #2
    • 13th Feb 18, 9:18 AM
    • #2
    • 13th Feb 18, 9:18 AM
    I would tell them via the solicitors.
    • Margot123
    • By Margot123 13th Feb 18, 9:19 AM
    • 842 Posts
    • 865 Thanks
    Margot123
    • #3
    • 13th Feb 18, 9:19 AM
    • #3
    • 13th Feb 18, 9:19 AM
    I would tell them via the solicitors.
    Originally posted by davidmcn
    I already have done but they have chosen to ignore them as well.
    • theartfullodger
    • By theartfullodger 13th Feb 18, 9:20 AM
    • 9,586 Posts
    • 12,899 Thanks
    theartfullodger
    • #4
    • 13th Feb 18, 9:20 AM
    • #4
    • 13th Feb 18, 9:20 AM
    Say you didn't realise the price was now flexible and, that being the case, it's gone up 10k (or whatever). The salesman (that's all they are, as is Tr*mp...) just want's his commission.
    • davidmcn
    • By davidmcn 13th Feb 18, 9:25 AM
    • 7,827 Posts
    • 8,002 Thanks
    davidmcn
    • #5
    • 13th Feb 18, 9:25 AM
    • #5
    • 13th Feb 18, 9:25 AM
    I already have done but they have chosen to ignore them as well.
    Originally posted by Margot123
    The buyers are ignoring what their solicitors are telling them?
    • Surrey_EA
    • By Surrey_EA 13th Feb 18, 9:25 AM
    • 1,545 Posts
    • 2,028 Thanks
    Surrey_EA
    • #6
    • 13th Feb 18, 9:25 AM
    • #6
    • 13th Feb 18, 9:25 AM
    Your estate agent sounds useless, and your buyers sound like chancers.

    I think it's time to bin the current EA off, and appoint someone else. From your posts it seems increasingly unlikely that the current sale will happen.
    • JennyP
    • By JennyP 13th Feb 18, 9:25 AM
    • 931 Posts
    • 654 Thanks
    JennyP
    • #7
    • 13th Feb 18, 9:25 AM
    • #7
    • 13th Feb 18, 9:25 AM
    Is there a reason?
    Or are they just trying it on? I've heard that it's a very common trick.
    • Rambosmum
    • By Rambosmum 13th Feb 18, 9:26 AM
    • 1,722 Posts
    • 2,239 Thanks
    Rambosmum
    • #8
    • 13th Feb 18, 9:26 AM
    • #8
    • 13th Feb 18, 9:26 AM
    It sounds like they haven't ignored it, but are advising you to reconsider. Just keep saying no. They'll keep asking, your solicitor and estate agent will keep telling you they've asked. Eventualy one of you will fold - either you will agree to renegotiate or they will stop asking and just buy it or pull out.
    • Margot123
    • By Margot123 13th Feb 18, 9:37 AM
    • 842 Posts
    • 865 Thanks
    Margot123
    • #9
    • 13th Feb 18, 9:37 AM
    • #9
    • 13th Feb 18, 9:37 AM
    This has been ongoing for 6 months, it's a probate property so I don't even live there.

    I'm sure the buyers haven't grasped the fact that I'm in the best of positions.
    There again, I don't know what carp the EA has been telling them.
    • Thrugelmir
    • By Thrugelmir 13th Feb 18, 9:43 AM
    • 58,925 Posts
    • 52,250 Thanks
    Thrugelmir
    My buyers asked for a further reduction prior to exchange.

    I emailed the estate agent saying 'no'; I even put it in capitals, bold and underlined!
    The EA has chosen to ignore this (although has responded attaching the email) saying 'I think we need to renegotiate'.

    The buyer's solicitor is now under the impression that I am willing to renegotiate.

    Do I need to put this NO in a good old-fashioned letter, sent by Recorded Delivery?
    Originally posted by Margot123
    Why haven't you picked the phone to the EA and discussed the matter fully?
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • Thrugelmir
    • By Thrugelmir 13th Feb 18, 9:45 AM
    • 58,925 Posts
    • 52,250 Thanks
    Thrugelmir
    I'm sure the buyers haven't grasped the fact that I'm in the best of positions.
    Originally posted by Margot123
    What's the issue? If you've had probate granted then you are in a procedable position.

    Remarket the property. This is the time to do it.
    Last edited by Thrugelmir; 13-02-2018 at 10:00 AM.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • JennyP
    • By JennyP 13th Feb 18, 9:48 AM
    • 931 Posts
    • 654 Thanks
    JennyP
    This has been ongoing for 6 months, it's a probate property so I don't even live there.

    I'm sure the buyers haven't grasped the fact that I'm in the best of positions.
    There again, I don't know what carp the EA has been telling them.
    Originally posted by Margot123
    If you're in a good position, you could - if it came to it - tell the cheeky b***** to b****** off.

    I'm not sure if I mean the buyers or the estate agents. Or both!

    Hope the buyer's solicitor charges them if the sale falls through.
    • chanz4
    • By chanz4 13th Feb 18, 9:56 AM
    • 9,923 Posts
    • 2,887 Thanks
    chanz4
    Just tell them to remarket, the buyer wont back out as too much invested
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
    • JimmyTheWig
    • By JimmyTheWig 13th Feb 18, 10:09 AM
    • 11,648 Posts
    • 11,252 Thanks
    JimmyTheWig
    The EA has chosen to ignore this (although has responded attaching the email) saying 'I think we need to renegotiate'.
    ...
    Do I need to put this NO in a good old-fashioned letter, sent by Recorded Delivery?
    Originally posted by Margot123
    It sounds from this that the EA has received and read your email. Putting the same in a letter would be of no benefit. But it does sound like you need to be clearer about exactly what you mean.

    Depending on the wording of your email they could be taking it to mean...
    "Oh no, that's a shame."
    "No, I don't think that's a very good idea, though as you're my appointed agent I'm always interested in your opinions."
    "No, no way. Whatever you think, I'm not reducing the price. Please don't waste my time by even telling me what you think about it."

    It sounds like you meant the third of these.
    It sounds like the EA thought you meant one of the first two.
    • theartfullodger
    • By theartfullodger 13th Feb 18, 10:14 AM
    • 9,586 Posts
    • 12,899 Thanks
    theartfullodger
    Say no, again: (just e-mail, calm & polite). Then if they come back again say, ideally in person in their office in front of loads of their customers, "What part of F*ck *ff didn't you understand"..
    Last edited by theartfullodger; 13-02-2018 at 10:18 AM.
    • eddddy
    • By eddddy 13th Feb 18, 10:17 AM
    • 6,482 Posts
    • 6,368 Thanks
    eddddy
    I'd guess that you have said NO to the reduced offer, and the buyer has said NO to going forward the current offer.

    So the EA is trying to make one of you budge.

    If you're not going to budge, you probably need to decide how you want to proceed and tell the EA. For example...

    - Re-market the property
    - Give current EA notice, and instruct another one

    (Just repeating 'NO' probably won't really move things forward.)
    • Davesnave
    • By Davesnave 13th Feb 18, 10:28 AM
    • 25,299 Posts
    • 93,037 Thanks
    Davesnave
    The agent wants a sale and their commission. They probably realise that you will dump them if this deal doesn't go ahead, so the only chance they have now is to persuade you to cave-in.

    They may seem to be working for the other side, but they're really working for themselves, just as they have been all along!
    If you are finding huge gaps between your paragraphs and use Firefox, MSE know about the problem. However, they aren't necessarily doing anything about it yet....
    https://forums.moneysavingexpert.com/showthread.php?t=5844460
    • Thrugelmir
    • By Thrugelmir 13th Feb 18, 10:37 AM
    • 58,925 Posts
    • 52,250 Thanks
    Thrugelmir
    Sounds as if there's a lot more to this tale.

    My buyers have already notified the Council they are moving in, so bills are coming in their names.
    This started nearly 2 months ago, and we still don't have an exchange date.

    My advise is not to redirect anything until completion; it may be annoying to you but not half as annoying as it is to a seller receiving a PROSPECTIVE buyer's post and bills.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • G_M
    • By G_M 13th Feb 18, 11:12 AM
    • 44,412 Posts
    • 52,717 Thanks
    G_M
    An eail to the EA teling him

    * the only renegotiation you will consider is upwards, and

    * until the buyers commit to the agreed price you want the property back on the market.

    Follow up with a phone call to the manager later n the day to ensure

    a) he unerstands and

    b) he actually IS putting the property back on the market
    • steampowered
    • By steampowered 13th Feb 18, 11:21 AM
    • 2,584 Posts
    • 2,520 Thanks
    steampowered
    I think it's time to bin the current EA off, and appoint someone else. From your posts it seems increasingly unlikely that the current sale will happen.
    Originally posted by Surrey_EA
    If the Op does this, they will be liable to pay two sets of estate agent fees. They'll be liable to the first estate agent which introduced the buyer (regardless of whether it is sole agency or not). And they'll be liable to the second agent.

    My buyers asked for a further reduction prior to exchange. The EA has chosen to ignore this (although has responded attaching the email) saying 'I think we need to renegotiate'.
    Originally posted by Margot123
    Have you considered that there may be a good reason? Ask the estate agent why he thinks there is a need to renegotiate.

    If the buyers have a good reason for asking for a reduction (e.g. the survey discovered a significant problem), then refusing to budge may be unreasonable and could result in the buyers pulling out. That is not a great scenario if you end up selling the property months later to someone else, and end up in exactly the same position when your second set of buyers have their survey done.

    Obviously, the estate agent has to follow your instructions. So just ask them to tell the buyer there is no reduction if that is your decision. There is no need to mess around with letters etc.
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