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Confusing Post By A Money Grabbing Ea

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"Hannells Estate Agents are now in receipt of an offer for the sum of £100,000 for 3 Garden Lodge Close, Derby, DE23 6DD. Anyone wishing to place an offer on this property should contact Hannells Estate Agents, 272 Blagreaves Lane, Littleover, DE23 1PS - 01332 773399 before exchange of contracts."

Is this kind of post slightly confused me, especially since the property has been up for 2 years.

I am new to the property hunting game so, is this common practice by EA's?

By the way this paticular EA, likes to overprice property by at least 60-70% and let the property sit there for years............

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It is a repossession, so the EA will have to do this.

With a normal house sale, this wouldn't happen.

Exactly, it's a legal requirement for the EA to issue a public notice (two-weeks I think) in order to satisfy the corporate client that they have achieved the highest possible amount for the repo.

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