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lebouche

Estate Agent Refusing To Pass On Offer

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Hi,

I've seen a property I like.

It's on at 287,000.

It's not in a good way decor wise and is 12 mins walk from the tube.

There is another right by the tube in perfect condition with a garden a 1/4 of the size.

I really dig the garden the 287 house has.

The agent said he would not give the vendors an offer of 250 as they have already been offered 270k and refused.

I'd still like to make my offer on the offchance.

Any opinions?

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Send a written offer to the EA stating that you want it passed on to the vendors. Note that you will send the same offer directly to the vendors.

Send a written offer to the vendors, perhaps politely giving your reasons for the price you have picked (land reg stats, previous selling price, renovation costs etc). Be gentle and polite - most people are not HPC readers and get offended if you diss their house. Try to get them to understand why the offer is fair (if it is) as that supposedly helps a lot in such things. Note that you have tried to make the same offer via the estate agents. Post the offer through the letter box of the house you want to buy, or if it is vacant spend £4 on a Land Registry report to get the address of the owners.

Don't necessarily expect that the EA is lying*, it may make no difference to offer direct.

*Oooh - controversial

DUCKS

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I'm with the agent, why telling the vendor about your offer if they have rejected the higher offer?

Unless this was last year ;)

law says he must, unless vendor instructs otherwise.

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If you want send the vendors. Say you are writing directly because the EA isn't passing on your offer and then explain why it's a good offer, or the best offer they're going to get.

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Hi,

I've seen a property I like.

It's on at 287,000.

It's not in a good way decor wise and is 12 mins walk from the tube.

There is another right by the tube in perfect condition with a garden a 1/4 of the size.

I really dig the garden the 287 house has.

The agent said he would not give the vendors an offer of 250 as they have already been offered 270k and refused.

I'd still like to make my offer on the offchance.

Any opinions?

He's probably not lying, the owners are just being a bit greedy

They'll probably get their comeuppance :unsure:

Make an offer in writing ;)

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As Bloo Loo says, it's simply illegal. The agent has to pass on all serious offers by law.

Go straight to (1) his boss (2) the governing body

threaten to sue his ass, etc

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Hi,

I've seen a property I like.

It's on at 287,000.

It's not in a good way decor wise and is 12 mins walk from the tube.

There is another right by the tube in perfect condition with a garden a 1/4 of the size.

I really dig the garden the 287 house has.

The agent said he would not give the vendors an offer of 250 as they have already been offered 270k and refused.

I'd still like to make my offer on the offchance.

Any opinions?

Put him/her in their place - they are breaking the law! These EAs are a joke!

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Why waste your time? They're not going to accept an offer of 20k less than they've already turned down, not in the short term anyway.

Why not make an offer for the other house nearer the tube if you like it (I'm assuming this is on for sale at a lower price)?

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Hi,

I've seen a property I like.

It's on at 287,000.

It's not in a good way decor wise and is 12 mins walk from the tube.

There is another right by the tube in perfect condition with a garden a 1/4 of the size.

I really dig the garden the 287 house has.

The agent said he would not give the vendors an offer of 250 as they have already been offered 270k and refused.

I'd still like to make my offer on the offchance.

Any opinions?

These questions are getting all too common now, perhaps we should make it a sticky?

Welcome to HPC Lebouche.

Firstly, what do you care if the EA's not passing it on? If he's not passing yours on, he won't be passing anyone elses on. If you feel that strongly about it, I would suggest you write a short letter with your offer and phone number and post it throught the letter box of the house concerned.

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Why waste your time? They're not going to accept an offer of 20k less than they've already turned down, not in the short term anyway.

how do you know? it's all part of the buyer strategy. are you a mind reader?

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Sounds like this EA is a bit of a tit.

So what that your offer is only 250k. If the EA was good at his job, he'd pass any offer on, and maybe try to hook you in with EA jedi mind tricks and get a higher offer out of you later.

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Hi,

I've seen a property I like.

It's on at 287,000.

It's not in a good way decor wise and is 12 mins walk from the tube.

There is another right by the tube in perfect condition with a garden a 1/4 of the size.

I really dig the garden the 287 house has.

The agent said he would not give the vendors an offer of 250 as they have already been offered 270k and refused.

I'd still like to make my offer on the offchance.

Any opinions?

I honestly believe that people have MEWed soooooo much & personal loans/credit cards etc, that a lot can't afford to go below the 2007 peak price (or 2005-2007 dependant on area/property type) & this is why things are not moving, they can't afford to go even 10% below as they will be in negative equity.

This might not be directly on the mortgage, but I think people are adding up all their credit cards/MEW/loans & making that the price of their house.

just my opinion of course. ;)

This IS the difference this time & why the repo figures are being masked atm.

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Drop a note through the owners letterbox with your offer and address.

Add a line or two about the market uncertainties and how you'd like the owner to hang on to your note in case he has a sale fall through,in which case you'd be there as a back stop.

No point in sodding about with the agent. What an @rseole.

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I'm with the agent, why telling the vendor about your offer if they have rejected the higher offer?

Unless this was last year ;)

You believe that the first offer was ever made? Shame on you! :)

Edited by D'oh

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As Bloo Loo says, it's simply illegal. The agent has to pass on all serious offers by law.

Go straight to (1) his boss (2) the governing body

threaten to sue his ass, etc

A person making an offer wouldn't have any legal recourse against the agent as he doesn't have any sort of contractual relationship with him. The vendor may do if he loses due to an agents failure to pass on offers.

As regards the legal obligation to pass on offers, I know there is one but could not say for sure what the actual legal score is and whether the vendor may specify a lower limit under which he doesn't want to know.

Personally, if an agent told me, or even intimated to me, that an offer may not get passed on I'd go straight to the vendor if I really wanted the house.

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A person making an offer wouldn't have any legal recourse against the agent as he doesn't have any sort of contractual relationship with him. The vendor may do if he loses due to an agents failure to pass on offers.

As regards the legal obligation to pass on offers, I know there is one but could not say for sure what the actual legal score is and whether the vendor may specify a lower limit under which he doesn't want to know.

Personally, if an agent told me, or even intimated to me, that an offer may not get passed on I'd go straight to the vendor if I really wanted the house.

The Estate Agents Act 1979

This Act regulates the conduct of estate agents in the course of estate agency work concerned with buying and selling property; it does not cover the letting of properties. The Act gives the Office of Fair Trading the power to issue warning or prohibition notices against persons it considers to be unfit to carry on estate agency work. The Estate Agents Act lays down the duties that agents owe to their clients, which include:

* Passing on all offers to the vendor in writing

* Handling clients money

* Disclosing a personal interest if the agent may benefit from the sale of the property

* Giving written details of charges before entering into a contract

* Providing details of any services provided by the agent to buyers

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If you'd like to make a bigger offer but the 250 tax threshold is holding you back, then you could maybe try offering 250k for the house and say 10k cash for the "contents".

Under the new rules this is much more challenging - you can still do it, but everything has to be fairly valued at second hand prices and then your solicitor has to fill in a significant amount of additional paperwork. HMRC get quite a long time after the sale to come back and audit you too if I remember correctly.

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Why waste your time? They're not going to accept an offer of 20k less than they've already turned down, not in the short term anyway.

Why not make an offer for the other house nearer the tube if you like it (I'm assuming this is on for sale at a lower price)?

Where's the proof that there was actually an offer at £270K? Has it been provided - I bet not.

I'd send it direct to the seller anyway, effectively (unless authorised by the seller to do so such a block) the agent has prevented a potenital sale, they should be scrubbed from the loop if that is the case and lose any chance of taking commission from the sale.

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Bloo Loo is right.

You should lodge a complaint against the Estate Agents to his/her employers, OEA and copy in the OFT.

You should also send the offer to the Estate Agent in writing and also direct to the vendor.

It is not the Estate Agents decision to make about whether a particular offer should be rejected/ignored/dismissed or considered and responded to - it is for the vendor to do this. Estate Agents, legally, can only refuse to pass on offers to vendors if the vendor has instructed the Agent in writing that offers below a certain level should be rejected by the Estate Agent, for the vendor, and not passed on to the vendor for consideration.

The Estate Agent in this case is showing what an incompetent idiot they are - in terms of not knowing the law about passing on offers, and the requirement to act in the best interests of their client (the vendor). The Estate Agent should pass on your offer, and even though it may be lower than the vendor wants, and/or lower than a previous or existing offer, should view it as the start of a negotiation process that has the potential of generating an offer that is acceptable to the vendor. You may also have key advantages over any existing offer in terms of being in a position to exchange and complete more quickly than the person(s) making the other offer (if it exists - Estate Agents lie all the time and are not trusted by 99% of the public according to a recently published survey - Estate Agents only have themselves to blame for this).

Sending your offer to the vendor directly, with an explanation of why you are doing this, will only require 10 minutes effort to write a letter to this effect.

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Bloo Loo is right.

You should lodge a complaint against the Estate Agents to his/her employers, OEA and copy in the OFT.

You should also send the offer to the Estate Agent in writing and also direct to the vendor.

It is not the Estate Agents decision to make about whether a particular offer should be rejected/ignored/dismissed or considered and responded to - it is for the vendor to do this. Estate Agents, legally, can only refuse to pass on offers to vendors if the vendor has instructed the Agent in writing that offers below a certain level should be rejected by the Estate Agent, for the vendor, and not passed on to the vendor for consideration.

The Estate Agent in this case is showing what an incompetent idiot they are - in terms of not knowing the law about passing on offers, and the requirement to act in the best interests of their client (the vendor). The Estate Agent should pass on your offer, and even though it may be lower than the vendor wants, and/or lower than a previous or existing offer, should view it as the start of a negotiation process that has the potential of generating an offer that is acceptable to the vendor. You may also have key advantages over any existing offer in terms of being in a position to exchange and complete more quickly than the person(s) making the other offer (if it exists - Estate Agents lie all the time and are not trusted by 99% of the public according to a recently published survey - Estate Agents only have themselves to blame for this).

Sending your offer to the vendor directly, with an explanation of why you are doing this, will only require 10 minutes effort to write a letter to this effect.

And how is it that in this case you are certain that this has not happened?

If i were faced with this situation there is no sensible reason for not passing on the offer. Even if the owner will not accept it should help to lower their expectations so that the chances of agreeing a sale in the future are increased.

But a lack of understanding of how best to manage their clients and breaking the law are not the same thing.

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