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I was shocked when I discover this:

Back in Dec 2008 I offered an house with £88,850. EA comes back and tells me that there is a bidding war and I am not the highest bidder.

I increased my offer to £94,500 in writing. Kind of liked the House and I can afford it. Still got it refused as EA said there was a higher bid. I quit the bidding war since then and never heard anything back from EA.

Today when i read the www.houseprices.co.uk, I found the same house was sold £87,550 in Feb according to Land Registry. I could not believe what I saw.

There should not be anything wrong with my offer as I proved the fund to EA with my saving statement and a valid mortgage offer. I think I still have all the letters from EA, even that one saying "sorry your are not the highest bidder with £94,500".

Does anyone out there know how to report an EA? It would nice to see those ******* get into trouble.

Regards

Hotmail

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I was shocked when I discover this:

Back in Dec 2008 I offered an house with £88,850. EA comes back and tells me that there is a bidding war and I am not the highest bidder.

I increased my offer to £94,500 in writing. Kind of liked the House and I can afford it. Still got it refused as EA said there was a higher bid. I quit the bidding war since then and never heard anything back from EA.

Today when i read the www.houseprices.co.uk, I found the same house was sold £87,550 in Feb according to Land Registry. I could not believe what I saw.

There should not be anything wrong with my offer as I proved the fund to EA with my saving statement and a valid mortgage offer. I think I still have all the letters from EA, even that one saying "sorry your are not the highest bidder with £94,500".

Does anyone out there know how to report an EA? It would nice to see those ******* get into trouble.

Regards

Hotmail

they don't have to sell to the highest bidder

sometimes a low offer is in a better position = cash

but this is probably a last minute gazunder

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they don't have to sell to the highest bidder

sometimes a low offer is in a better position = cash

but this is probably a last minute gazunder

I completely agree, gazundering in action. A last minute "I bail or you accept my lower offer" from the buyer.

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I completely agree, gazundering in action. A last minute "I bail or you accept my lower offer" from the buyer.

And you base this on what? There is no concrete evidence to support your contention. A complaint to the NAEA will lead to an investigation which will reveal whether it was a case of gazundering or some underhand activity by the EA (for which there is just as much evidence for!).

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I was shocked when I discover this:

Back in Dec 2008 I offered an house with £88,850. EA comes back and tells me that there is a bidding war and I am not the highest bidder.

I increased my offer to £94,500 in writing. Kind of liked the House and I can afford it. Still got it refused as EA said there was a higher bid. I quit the bidding war since then and never heard anything back from EA.

Today when i read the www.houseprices.co.uk, I found the same house was sold £87,550 in Feb according to Land Registry. I could not believe what I saw.

There should not be anything wrong with my offer as I proved the fund to EA with my saving statement and a valid mortgage offer. I think I still have all the letters from EA, even that one saying "sorry your are not the highest bidder with £94,500".

Does anyone out there know how to report an EA? It would nice to see those ******* get into trouble.

Regards

Hotmail

Was yours a cash offer, or did you need to arrange a mortgage?

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I completely agree, gazundering in action. A last minute "I bail or you accept my lower offer" from the buyer.

You then reply, "Bog off we have another offer on the table...."

Could be a number of reasons why they didn't accept your offer, but does sound a bit iffy to me.

The important part is that you have in writing that higher offers were on the table, well worth taking it further, might not get anywhere is the EA is a one man band type affair, if it was a chain there would be an investigation at least.

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Guest DissipatedYouthIsValuable

EAs are all a waste of space, I look forward to the day when all house buying is done direct from vendor to buyer.

We have the internet, why does anyone need to waste a few grand on an EA?

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The same thing happened to me when I found out that a property eventually sold for 5k less than my final offer (which I withdrew after being messed about; on the back of a 'bidding war'). In retrospect, the EAs did me a massive favour and you too by the sounds of it. I still have the snotty e-mail I sent to the EA shortly after withdrawing which in conjunction with the Land Registry may make a strong case. The question is; can you really be bothered pursuing this?

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You then reply, "Bog off we have another offer on the table...."

Could be a number of reasons why they didn't accept your offer, but does sound a bit iffy to me.

The important part is that you have in writing that higher offers were on the table, well worth taking it further, might not get anywhere is the EA is a one man band type affair, if it was a chain there would be an investigation at least.

Exactly, if the seller knew there was a higher offer, they would have almost certainly come back to you to see if you were interested.

Sounds like the EA didn't pass the offer on. That is naughty.

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Was yours a cash offer, or did you need to arrange a mortgage?

I am not a cash buyer. But the mortgage offer and my saving statements has been passed to the EA. They said it is an valid offer.

The important part is that you have in writing that higher offers were on the table,

I have in my hand, a piece of paper saying "sorry your offer, £94,500, was not accepted" with EA's logo and Signiture.

it was 9% above the price in Land Registery data.

Definately worth reporting/lodging a complaint with the NAEA. See the following for the NAEA Code of Practice:

http://www.naea.co.uk/help/Articles.aspx?id=6

Also, particularly if it is a chain of EA's copy the head office into the complaint being lodged with the NAEA's.

You can also lodge complaints with the Office of Fair Trading.

Thank you.

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I completely agree, gazundering in action. A last minute "I bail or you accept my lower offer" from the buyer.

A good chance this is the case.....

However,

I would contact the EA first of all. Depending on whether you receive a satisfactory response, you can then decide whether worth following up further. A letter describing your experience sent to a combination of trading standards/ombudsman for EAs/company head office/partner should do the trick.

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Whats the problem? It amazes me when the first rush on stories like this is 'dodgy EA'. Not at all. Anyone whos been through the buy/sell process knows that the survey is everything.

A bid at £95k with a final settlement at £87 sounds about right to me. You'll probably find the difference is new damp course, heating boiler, roof problems, or any other number of bad maintainance issues.

The reason they complete is that of course you would have discovered the same problems post survey also.

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I wouldn't worry. I can see a lot of positives in this.

The bulls would have us believe that there is a spring bounce, lots of activity etc. Agents tell us that offers are too low.

In this case the completion was at a price lower than you offered.

As long as anecdotes such as this are not reconcilable with bullish theories then I am happy!

Could be the speed that the other party was able to proceed, could be gazundering or could be a back hander. Either way, the core message is that prices are heading one way - down!!

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I was shocked when I discover this:

Back in Dec 2008 I offered an house with £88,850. EA comes back and tells me that there is a bidding war and I am not the highest bidder.

I increased my offer to £94,500 in writing. Kind of liked the House and I can afford it. Still got it refused as EA said there was a higher bid. I quit the bidding war since then and never heard anything back from EA.

Today when i read the www.houseprices.co.uk, I found the same house was sold £87,550 in Feb according to Land Registry. I could not believe what I saw.

There should not be anything wrong with my offer as I proved the fund to EA with my saving statement and a valid mortgage offer. I think I still have all the letters from EA, even that one saying "sorry your are not the highest bidder with £94,500".

Does anyone out there know how to report an EA? It would nice to see those ******* get into trouble.

Regards

Hotmail

maybe the ea thought you werent worthy to live in such an illustrious house?

maybe he wanted to protect you from moving into a bad situation?

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If you find a place that really is quite a good deal chances are that the agent knows this and so do his/her mates and they will look for any opportunity to benefit from a nice little cosy relationship.

The only route to take is to make two copies of your offer, give one to your agent and give/send one directly to the seller. Job done, no funny business possible. If you have to look up the Seller's details on Land registry (owner abroad for example who is not easy to track down and is not living at the address for sale).

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Might be better to contact the SELLER than the NAEA as if the offer wasn't passed on they will be sueing the EA double -time and probably bankrupting them.

I agree with this and the bit about bankrupting only if it is a tiny outfit..

Original Poster: As potential Buyer here, you have no rights, insofar as the Seller does not have to sell to you, even if you were highest bidder. I am sure you understand this. The EA may or may not have done something out of line here. That is for the Seller to sort out with the agent. If the offer was not passed on, I am sure the Seller will make his mark, if you let him know, but there is no way the sale can be unwound - just that the EA risks being liable to the seller for the difference.

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  • 441 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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