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Can You Trust An Estate Agent?

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I am stupidly trying to buy a property at the moment, put in an offer 5k below asking price £250,000.

3 days after hearing nothing, they said owner had gone with another purchaser giving us no chance to up the offer.

He wanted me to go with their mortgage broker which i refused,would they prefer an offer from somebody seeking finance

through there Office?.I am starting to feel i am dealing with the Devil.

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I am stupidly trying to buy a property at the moment, put in an offer 50k below asking price £250,000.

3 days after hearing nothing, they said owner had gone with another purchaser giving us no chance to up the offer.

He wanted me to go with their mortgage broker which i refused,would they prefer an offer from somebody seeking finance

through there Office?.I am starting to feel i am dealing with the Devil.

Corrected it for you, I hope... :blink:

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Like many things in life, some you can, some you can't. Although sadly one group is significantly larger than the other.

A couple of point re your offer, you have every chance to increase your offer should you wish to do so. If you make a further offer to the EA they must pass it on to the vendor by law.

They probably would prefer to sell to a buyer using their own mortgage broker. Two reasons, firstly there will be extra commission involved, secondly it is easier and more convenient to monitor the mortgage application during the purchase.

A note through the door addressed to the vendor confirming your interest will confirm that they are definitely aware of your offer.

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I am stupidly trying to buy a property at the moment, put in an offer 5k below asking price £250,000.

3 days after hearing nothing, they said owner had gone with another purchaser giving us no chance to up the offer.

He wanted me to go with their mortgage broker which i refused,would they prefer an offer from somebody seeking finance

through there Office?.I am starting to feel i am dealing with the Devil.

They obviously ought to have told you. Seems like a case for a formal complaint, apart from anything else they are potentially failing to get the seller the best price and thus not doing their job properly. If the seller is still in the property, perhaps a chat/note through the door wouldn't go amiss. As for the agent, take them to whatever ombudsman scheme they happen to be a part of, it is unacceptable.

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Like many things in life, some you can, some you can't. Although sadly one group is significantly larger than the other.

A couple of point re your offer, you have every chance to increase your offer should you wish to do so. If you make a further offer to the EA they must pass it on to the vendor by law.

They probably would prefer to sell to a buyer using their own mortgage broker. Two reasons, firstly there will be extra commission involved, secondly it is easier and more convenient to monitor the mortgage application during the purchase.

A note through the door addressed to the vendor confirming your interest will confirm that they are definitely aware of your offer.

Good advise....if it were me I would go and knock on the vendors door, and have a little chat. ;)

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They obviously ought to have told you. Seems like a case for a formal complaint, apart from anything else they are potentially failing to get the seller the best price and thus not doing their job properly. If the seller is still in the property, perhaps a chat/note through the door wouldn't go amiss. As for the agent, take them to whatever ombudsman scheme they happen to be a part of, it is unacceptable.

And what do you gain by a formal complaint, ombudsman etc? There could be a million and one reasons why your offer wasn't successful and you may never find out what but that's life.

There are lots of potential downsides to the formal complaint route - you'll certainly never work with that EA again and you may have a tarnished reputation with others which if you want to buy a house could be a problem. What is the upside? Possible self-rightousness?

Agree that a note/chat with the vendor can't hurt. And to answer your question, no you can't!

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And what do you gain by a formal complaint, ombudsman etc? There could be a million and one reasons why your offer wasn't successful and you may never find out what but that's life.

There are lots of potential downsides to the formal complaint route - you'll certainly never work with that EA again and you may have a tarnished reputation with others which if you want to buy a house could be a problem. What is the upside? Possible self-rightousness?

Agree that a note/chat with the vendor can't hurt. And to answer your question, no you can't!

Are you being serious?

Tarnished reputation with others, due you think there is some sort of secret sect of estate agents, most of them do the job for 5 minutes between leaving college and getting a job in next.

It isnt working with the EA, its offering a sum of money to the agent of a seller who is legally required to pass that sum on.

I agree you might not gain by a formal complaint but people need to stop all this "dont upset the estate agent" crap.

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Are you being serious?

Tarnished reputation with others, due you think there is some sort of secret sect of estate agents, most of them do the job for 5 minutes between leaving college and getting a job in next.

It isnt working with the EA, its offering a sum of money to the agent of a seller who is legally required to pass that sum on.

I agree you might not gain by a formal complaint but people need to stop all this "dont upset the estate agent" crap.

My point is there's only downside to going down the complaint route. I'm not on the side of estate agents, but they talk to each other in the same was as any other industry and making a "formal complaint" because you didn't get the house you wanted can only lead to negative consequences with that EA and potentially others. It's not a big deal, but it's a small deal with no upside. That plus the fact that it's a waste of your time and effort. Why bother?

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And what do you gain by a formal complaint, ombudsman etc? There could be a million and one reasons why your offer wasn't successful and you may never find out what but that's life.

There are lots of potential downsides to the formal complaint route - you'll certainly never work with that EA again and you may have a tarnished reputation with others which if you want to buy a house could be a problem. What is the upside? Possible self-rightousness?

Agree that a note/chat with the vendor can't hurt. And to answer your question, no you can't!

I don't understand the last bit.

As for the rest of it, not sure the prime concern of a buyer is to take nonsense from people (assuming it was deliberate in this instance) and not mention it for fear of being the victim of some sort of local 'blackballing' and never ever ever being allowed to spend money on a house in that town. Would you be concerned about spoiling a relationship with an agent who did that to you?

Sure, it's a sellers right to sell (or not) to whoever they decide, but the EA should at least have the courtesy of imforming the OP given he had an offer in.

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I don't understand the last bit.

As for the rest of it, not sure the prime concern of a buyer is to take nonsense from people (assuming it was deliberate in this instance) and not mention it for fear of being the victim of some sort of local 'blackballing' and never ever ever being allowed to spend money on a house in that town. Would you be concerned about spoiling a relationship with an agent who did that to you?

Sure, it's a sellers right to sell (or not) to whoever they decide, but the EA should at least have the courtesy of imforming the OP given he had an offer in.

The last bit relates to the OP's question "Can you trust an Estate Agent".

From my perspective the OP has no leverage in his/her situation. They can't prove the EA's behaviour has caused them loss, they can't do anything about the vendor's decision, so they have absolutely nothing to gain. If it was me I'd just avoid anything to do with that EA if possible, although as the OP is trying to buy a house that may be difficult.

Anyway, rather than discussing the EA's behaviour shouldn't we be discussing why someone wants to buy a house, right now, offering only 2% below the asking price and demanding a chance to up their offer....!? :blink:

Edit: Dodgy maths

Edited by Voice of Reason

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Anyway, rather than discussing the EA's behaviour shouldn't we be discussing why someone wants to buy a house, right now, offering only 2% below the asking price and demanding a chance to up their offer....!? :blink:

:lol:

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The last bit relates to the OP's question "Can you trust an Estate Agent".

From my perspective the OP has no leverage in his/her situation. They can't prove the EA's behaviour has caused them loss, they can't do anything about the vendor's decision, so they have absolutely nothing to gain. If it was me I'd just avoid anything to do with that EA if possible, although as the OP is trying to buy a house that may be difficult.

Anyway, rather than discussing the EA's behaviour shouldn't we be discussing why someone wants to buy a house, right now, offering only 2% below the asking price and demanding a chance to up their offer....!? :blink:

Edit: Dodgy maths

Ah ok, I'm being thick today.

Edited by cheeznbreed

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I have waited 4 years and am paying £1600 a month rent (London), Mortgage would be 1/2 that figure.

Can't go on like this must buy,must........ etc

Fair enough, that does seem to make sense.

Quite frankly I've given up predicting where house prices are going. Nobody honestly has a clue, and if buying is going to save you that amount each month, go for it, best of luck! :)

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For what it's worth I'd suggest trying to find somewhere cheaper to rent first, I know this is not easy in London but let me tell you about an experience a friend had last year. A friend of mine was renting a room, admittedly different to your situation but it may still be worth a try. He needed somewhere cheaper. I suggested he put an ad in Gumtree looking for a room. We worked out quite a friendly advert that outlined who he was, and employment etc explaining that due to the type of work he does he couldn't afford more than £300pcm for a double room. Within anb hour of the ad going up between us we had received 30+ calls. Some of them were chancers and loons but there were about I'd say eight decent people ring up. One room in Zone 2 several in zone three and a few round Croydon - which we 'd mentioned in the ad. In the end he got a very nice double room about 15 minutes walk from east Croydon for £250pcm. There are decent landlords out there willing to consider decent tenants, you just have to find them, the "usual channels" are often the worst ways to go about it.

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I have waited 4 years and am paying £1600 a month rent (London), Mortgage would be 1/2 that figure.

Can't go on like this must buy,must........ etc

Thats a large savings, and you will be able to get on with your life.

Good luck in what ever you decide.

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  • 343 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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