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redmen9

Put An Offer In On A House Recently

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Recently a house came on that I was very interested in. It was marketed at £350k so following advice I'd read being given out on here, I put in a cheeky offer of £270k.

Unsurprisingly, the offer was rejected. After a couple of weeks, went back with an offer of £280, again rejected. Another 3 weeks down the line put in my final offer of £290k again rejected.

Within a few weeks the house had been taken off the market. Apparently the vendors had decided to go with another Estate Agent. Having spoken to the new Estate Agents, apparently the previous Estate Agent has sent them a letter informing them that I have previously made an offer and if the house is sold to us that they should receive the fee.

Essentially what this is doing is discouraging the current Estate Agents from selling the house to me. Even if the house sits rotting on the market for 6 months and the vendor decides to drop their asking price to a level that I'm willing to pay, the current Estate Agents have nothing to gain (and no fee to earn) if we buy it.

Ultimately, we've been snookered by our previous offer. Is this right, does the previous EA have any right in claiming the fees or even disclosing this information to another party? Any thoughts greatly appreciated.

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Recently a house came on that I was very interested in. It was marketed at £350k so following advice I'd read being given out on here, I put in a cheeky offer of £270k.

Unsurprisingly, the offer was rejected. After a couple of weeks, went back with an offer of £280, again rejected. Another 3 weeks down the line put in my final offer of £290k again rejected.

Within a few weeks the house had been taken off the market. Apparently the vendors had decided to go with another Estate Agent. Having spoken to the new Estate Agents, apparently the previous Estate Agent has sent them a letter informing them that I have previously made an offer and if the house is sold to us that they should receive the fee.

Essentially what this is doing is discouraging the current Estate Agents from selling the house to me. Even if the house sits rotting on the market for 6 months and the vendor decides to drop their asking price to a level that I'm willing to pay, the current Estate Agents have nothing to gain (and no fee to earn) if we buy it.

Ultimately, we've been snookered by our previous offer. Is this right, does the previous EA have any right in claiming the fees or even disclosing this information to another party? Any thoughts greatly appreciated.

Yep, this is exactly what the first EA is entitled to.

tm

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Just offer £290,001 to the second agent.

Which wouldn't make any difference. The first EA is entitled to the fee irrespective of what the actual figure is, as they were the ones who introduced the OP to the property.

In actual fact it makes the first EA far more likely to push the OP's offer as they have no chance of earning a fee any other way, so things may yet work out.

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Essentially what this is doing is discouraging the current Estate Agents from selling the house to me. Even if the house sits rotting on the market for 6 months and the vendor decides to drop their asking price to a level that I'm willing to pay, the current Estate Agents have nothing to gain (and no fee to earn) if we buy it.

The estate agents aren't the ones deciding who to sell the house to, the vendor is. They are legally obliged to pass on all offers to the vendor, whether they want you to buy it or not. I assume that by now you have contact details for the vendor so you can check your offers are being passed on.

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Surely you can withdraw the first offer and then resubmit to the second agent?

That doesn't change the fact that the first agent made the initial introduction of buyer to property and therefore is entitled to the fee.

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The estate agents aren't the ones deciding who to sell the house to, the vendor is. They are legally obliged to pass on all offers to the vendor, whether they want you to buy it or not. I assume that by now you have contact details for the vendor so you can check your offers are being passed on.

Yes, you're right, the EAs are just acting on the vendors behalf. Yes, I'm in contact with the previous EA and they are able to put forward any further offers on my behalf. As Mildura says, the original EA will be working exclusively on securing a sale with me so it does offer some hope.

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  • 312 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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