Jump to content
House Price Crash Forum
homerenter

Agent Takes An Ad Chastising Buyers

Recommended Posts

I thought the attached agent's ad was pretty funny. They paid for a quarter page, not advertising houses, but telling buyers how naughty they are for not playing the game. If you cant be bothered to get the image, the ad says.

*************************************

MARKET COMMENT It's soapbox time again! We have covered this point before, but it still happens and requires legislation to correct it. After some time of marketing you eventually secure your buyer and find a property to purchase, therefore, creating a chain that could involve a number of parties. All going well, but two weeks in, one party pulls out and the chain breaks. You will have had expense, which you are unlikely to be able to recoup and your emotions and faith in human nature is dented. Surely a simple solution to avoid this heartache would be that when a sale is agreed both vendor and buyer sign a pre-contract agreement and put down a substantial deposit (say £5000 each) which is only refundable if they have an adverse survey, lose their job or die, otherwise it goes to the agrieved party as compensation and for abortive costs. This may seem drastic, but it would stop those who agree to buy a property this week and change thier mind the next without giving thought to everyone else involved. In other wordsput their money where their mouth is. If you buy a car you put down a deposit and lose it if you don't pay the balance, so why is buying a property any different? It's time legislation was brought in to protect all parties involved.

************************************

Come on buyers, have a thought for the emotions of this poor agent's vendors and get an offer in - and don't change your mind (unless you lose your job or die).

--

paul jeffreys ad.jpg

post-24657-0-66720200-1301768758_thumb.jpg

Share this post


Link to post
Share on other sites

I am not against the principle of the EA's advertisement.

In France, where we live, it is the practice (law?) that if, after having signed an agreement to purchase, either the buyer or the purchaser backs out, the defaulter has to pay 10% of the agreed selling price to the aggrieved party. This penalty is waived if certain conditions, mentioned in the sale agreement, cannot be met - e.g. Failure to obtain a mortgage,

It seems to me imminently fair to all parties in the chain.

Share this post


Link to post
Share on other sites

You can never have sympathy for an estate agent (good friend of the wife has just gone landed a new role with one and she is lovely but still no sympathy)

HAVING said that, he does make a good point, only from the perspective of it can protect the buyer as well. SHoud you finally commit and agree to buy a home from a vendor, then I've never understood why the vendor can keep advertising and accept a higher offer (unlikley in todays climate I know).

Once you've agreed to buy / sell then unless agreed circumstances arise then I think you should be made to stick!!

Mind you the bit about the other party pocketing the deposit is a bit rich I admit!

Share this post


Link to post
Share on other sites

*************************************

MARKET COMMENT It's soapbox time again! We have covered this point before, but it still happens and requires legislation to correct it. After some time of marketing you eventually secure your buyer and find a property to purchase, therefore, creating a chain that could involve a number of parties. All going well, but two weeks in, one party pulls out and the chain breaks. You will have had expense, which you are unlikely to be able to recoup and your emotions and faith in human nature is dented. Surely a simple solution to avoid this heartache would be that when a sale is agreed both vendor and buyer sign a pre-contract agreement and put down a substantial deposit (say £5000 each) which is only refundable if they have an adverse survey, lose their job or die, otherwise it goes to the agrieved party as compensation and for abortive costs. This may seem drastic, but it would stop those who agree to buy a property this week and change thier mind the next without giving thought to everyone else involved. In other wordsput their money where their mouth is. If you buy a car you put down a deposit and lose it if you don't pay the balance, so why is buying a property any different? It's time legislation was brought in to protect all parties involved.

************************************

Greedy vendors and banks that lend money based on lies undermined my faith in human nature too.

Share this post


Link to post
Share on other sites

Daft rase business model.

Doubt he was complaining about the process when things were going nuts.

Now,after 4 years of f-all, he decides to complain.

Must be bricking it. Not like there's going to be a job open at Dixon's for him.

boohoo.

Share this post


Link to post
Share on other sites

In Scotland all offers are (or at least used to be) legally binding, if you make an offer and the Bank fails to come up with the required mortgage, thats just tough, the buyer will then need to get a bridging loan and if necessary resell the property in a hurry if they cant afford it.

I know some people who were caught out by this in the 70's, they were lucky they resold the house 6 weeks later to someone else for a significant profit.

Seems like this would restore some sanity to the market

Share this post


Link to post
Share on other sites

It's a fair point, but it works both ways too. Sellers are just as likely to switch buyer if they can find a better offer.

It happened to me recently - had my offer accepted, but a week later the seller says that he wants to sell to someone else. Fine, I said - so I raise my bid, raise it more and more, and outbid the other buyer. The seller cackles with glee. 2 weeks later I pull out of the transaction - I had no intention of buying from him once he started d1cking me around. I wanted to teach him a lesson. Point is, I would have been happy to proceed at the original price, but his greed got the better of him, so I decided to shaft him. Whether or not he can now negotiate a sale with his other jilted bidder is of no interest to me any more.

Edited by Van

Share this post


Link to post
Share on other sites

It's a fair point, but it works both ways too. Sellers are just as likely to switch buyer if they can find a better offer.

It happened to me recently - had my offer accepted, but a week later the seller says that he wants to sell to someone else. Fine, I said - so I raise my bid, raise it more and more, and outbid the other buyer. The seller cackles with glee. 2 weeks later I pull out of the transaction - I had no intention of buying from him once he started d1cking me around. I wanted to teach him a lesson. Point is, I would have been happy to proceed at the original price, but his greed got the better of him, so I decided to shaft him. Whether or not he can now negotiate a sale with his other jilted bidder is of no interest to me any more.

Nice one!

Share this post


Link to post
Share on other sites

Hello

A house went Sold STC 2 months ago and it went off rightmove. It has recently come back on with Sold STCM next to it. Never seen this, what does this mean?

Edited by dustbinlidsid

Share this post


Link to post
Share on other sites

We've had something near us get sold and disappear and then come back on a week later still stc and yet the agents details are still very scant with no photos and nothing more than just a placeholder

stcm subject to contact maybe

Share this post


Link to post
Share on other sites

In Scotland all offers are (or at least used to be) legally binding, if you make an offer and the Bank fails to come up with the required mortgage, thats just tough, the buyer will then need to get a bridging loan and if necessary resell the property in a hurry if they cant afford it.

I know some people who were caught out by this in the 70's, they were lucky they resold the house 6 weeks later to someone else for a significant profit.

Seems like this would restore some sanity to the market

What reselling after 6 weeks for a significant profit is sanity?

Share this post


Link to post
Share on other sites

You can never have sympathy for an estate agent (good friend of the wife has just gone landed a new role with one and she is lovely but still no sympathy)

HAVING said that, he does make a good point, only from the perspective of it can protect the buyer as well. SHoud you finally commit and agree to buy a home from a vendor, then I've never understood why the vendor can keep advertising and accept a higher offer (unlikley in todays climate I know).

Once you've agreed to buy / sell then unless agreed circumstances arise then I think you should be made to stick!!

Mind you the bit about the other party pocketing the deposit is a bit rich I admit!

It is how it works in Australia. You sign a contract; a deposit is put in place, and unless the structural inspection, pest inspection, or mortgage fails to come through you have to buy the house and the seller has to sell. Even if any of the above criteria fail, the seller can still hit you for a 0.35% of the agreed price or so.

It focusses the mind and gets rid of time wasters, gazumpers, gazunderers etc.

Share this post


Link to post
Share on other sites

I had a buyer do the dirty on me, just days before we completed. I accepted her offer & was prepared to wait for her to sell her house in order to proceed with my purchase. 4 months later, just 10 days before we had agreed to complete, the bitch pulled out without giving any reason whatsoever.

Gemma Steel, of Whitley Bay, hang your head in shame. Hopefully someone will f**k you over in the future :lol::lol:

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 220 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.