Ea Sold To Other Party Without Even Telling Us There Was An Offer

[ourmaminhavana]

I am very upset today having made an offer on a house in Lincoln three weeks ago of 15% less. The manager of a different branch phoned up to say no and we'll try and find something else for you which I thought at the time was odd/rude, especially as we have sold our own and are renting. We had a second viewing and offered roughly 10% less- £249k it was on at 274,950. Repeated that we were keen to move quickly had no house to sell, mortgage lined up etc. Didn't even get a reply. Phoned up five days later and withdrew the offer. A week later it was sold. Assumed it was the asking price as so quick, then on Saturday found out by chance that it went for under £250!! Am really hoping my source is wrong (friend who lives in the next street and has just put her house on the market based on what her ea told her this had sold for). I had no letters about my offer, as per the ea code to which they are signatories and was not told of any other offers being made. My hubby thinks it's an inside job, I'm very, very unhappy about it. Am speaking to the EA this morning but what exactly do I say? Obviously they haven't tried to get the top price ofr their vendor. If it really did only sell for what we'd already offered I feel we should be able to make another offer- which according to the code we can- but am very unahppy about trying to guzump someone but would have made it BEFORE their offer was accepted had we known about it!

Edited July 12, 2010 by ourmaminhavana

[Mrs Bear]

I am very upset today having made an offer on a house in Lincoln three weeks ago of 15% less. The manager of a different branch phoned up to say no and we'll try and find something else for you which I thought at the time was odd/rude, especially as we have sold our own and are renting. We had a second viewing and offered roughly 10% less- £249k it was on at 274,950. Repeated that we were keen to move quickly had no house to sell, mortgage lined up etc. Didn't even get a reply. Phoned up five days later and withdrew the offer. A week later it was sold. Assumed it was the asking price as so quick, then on Saturday found out by chance that it went for under £250!! Am really hoping my source is wrong (friend who lives in the next street and has just put her house on the market based on what her ea told her this had sold for). I had no letters about my offer, as per the ea code to which they are signatories and was not told of any other offers being made. My hubby thinks it's an inside job, I'm very, very unhappy about it. Am speaking to the EA this morning but what exactly do I say? Obviously they haven't tried to get the top price ofr their vendor. If it really did only sell for what we'd already offered I feel we should be able to make another offer- which according to the code we can- but am very unahppy about trying to guzump someone but would have made it BEFORE their offer was accepted had we known about it!

Do the vendors live at the property? If so, you could put a letter through the letterbox telling them of the offer you made and asking whether they were informed of it.

If they don't live there and the EA is up to no good, they'll probably just intercept it. Particularly if you don't know their names and have to write 'To The Homeowner' on the envelope.

I have encountered an inside job. Made a reasonable offer on a flat a few years ago, only to be told within minutes by the EA that the vendor would accept - if I could exchange contracts that same day.

Of course I couldn't - I hadn't even instructed a solicitor. EA was very plausible, said it was not at all unusual to exchange at once, esp. for LLs with large portfolios.

I thought it was odd but was still daft enough to believe him, nothing to do with him having told me at our first meeting that his father was a vicar.

A few months later I saw on nethouseprices that the flat had sold for a good deal less than my offer - way under market value for those particular flats at the time.

[ourmaminhavana]

Thanks Mrs Bear, no unfortunately it's deceased estate and has been empty for the last 18 months. However, I'm seriously considering attempting to track down the ownders as I believe the next door neighbour has details. It's the complete deceit that has got me so het up. I was fine thinking it had been sold for mway more than we were prepared to pay, but am not happy at all if they're paying the same as we offered and we had no opportunity to increase our offer despite having already made two.

[Mrs Bear]

Thanks Mrs Bear, no unfortunately it's deceased estate and has been empty for the last 18 months. However, I'm seriously considering attempting to track down the ownders as I believe the next door neighbour has details. It's the complete deceit that has got me so het up. I was fine thinking it had been sold for mway more than we were prepared to pay, but am not happy at all if they're paying the same as we offered and we had no opportunity to increase our offer despite having already made two.

If you can track down the owners, good luck. I'm pretty sure the EA is legally obliged to pass on all offers, unless (e.g.) the vendor has said not to bother with any at x% under asking.

If you can't contact the owners, try not to let it get to you. Fact is, there are some very dodgy EAs out there - not by all means all, I know, but enough. Though I know it's maddening when you're pretty sure they've done the dirty but can't prove anything.

Who knows, maybe you'll find something else you like even better for around the same price. I do believe prices are starting to come down again - certainly signs of it around here (SW London).

One other thing, it's not a bad idea to put any future offers in writing or at least email - and keep a copy.