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Recently offered 90% of the asking price (more than my usual 'derisory' opening gambit). I am honoured with a call from the boss, who gives me some advice about what I should be offering. Apparently the vendor will not accept less than 95%, so would I like to think again?

During the Christmas break it occurs to me that the estate agent has not actually passed on my offer, but is 'managing' proceedings in his client's interests (ie, wants a fat fee).

Can anyone please tell me whether the EA is legally obliged to convey all offers regardless of his opinion, and also whether the EA is obliged to put both offer and response in writing to the buyer?

I have had some run-ins with this estate agent, who clearly sees me as a time waster because I persistently offer 20-30% below the asking price, and they've no idea how to negotiate.

Any advice would be gratefully received.

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Recently offered 90% of the asking price (more than my usual 'derisory' opening gambit). I am honoured with a call from the boss, who gives me some advice about what I should be offering. Apparently the vendor will not accept less than 95%, so would I like to think again?

During the Christmas break it occurs to me that the estate agent has not actually passed on my offer, but is 'managing' proceedings in his client's interests (ie, wants a fat fee).

Can anyone please tell me whether the EA is legally obliged to convey all offers regardless of his opinion, and also whether the EA is obliged to put both offer and response in writing to the buyer?

I have had some run-ins with this estate agent, who clearly sees me as a time waster because I persistently offer 20-30% below the asking price, and they've no idea how to negotiate.

Any advice would be gratefully received.

I was in your position from STRing in 2005 to eventually buying earlier this year.

Eventually I reached an accomodation with the EA's in the area I was looking. They knew I was a cash buyer, what I was looking for, and how much I was willing to spend (-20% from peak 2007 prices), and they'd contact me if there was anything appropriate.

Needless to say, long months would pass between their phone calls! But eventually they let me know about a developer who was in danger of going t1ts up and needed an ultra quick sale. He got his cash and I got the house I wanted at a reasonable price. Still not what many here would consider a bargain but hey ho, I was sick of waiting.

I'm surprised at any EA outside of central London getting sniffy in today's market about a -10% offer, I can understand that many buyers wouldn't accept, but I doubt anyone would get offended at -10%. Furthermore, a -10% offer will restore your credibility with the EA. I'd walk away and let the seller stew for a while, when they still haven't had an offer by the end of January you could try making the same offer again and seeing if they're ready to get real.

The EA has an obligation to pass on all offers, but from times when I've sold a house I don't believe there's any obligation to do so in writing.

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Thanks, that's very sound advice. I also found this on the government website direct.gov.uk:

Estate agents’ obligations to pass on offers

Under the Estate Agents Act, an estate agent is legally bound to present any offer promptly and in writing to the person selling the house. This must happen unless the seller has said in writing that there are some offers they don’t want to receive.

A buyer's offer is not legally binding in England and Wales, even if it's accepted by the seller. This means the agent is legally obliged to pass on any other offer received for the property up to when contracts are exchanged.

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I'm surprised at any EA outside of central London getting sniffy in today's market about a -10% offer, I can understand that many buyers wouldn't accept, but I doubt anyone would get offended at -10%. Furthermore, a -10% offer will restore your credibility with the EA. I'd walk away and let the seller stew for a while, when they still haven't had an offer by the end of January you could try making the same offer again and seeing if they're ready to get real.

The EA has an obligation to pass on all offers, but from times when I've sold a house I don't believe there's any obligation to do so in writing.

Very true.

The EA is doing his/her best for the client by trying to get a bit more out of you. Volumes are very low at the moment and most EAs just need some sales so they will be keen to reach an agreement.

I don't know the house, the area or your circumstances, but in general you would have to have very good reasons to increase your offer in the current climate.

I would advise against making any contact with the agent quite yet, let them come to you. As silver surfer says you can always restate your offer in a few weeks.

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Very true.

The EA is doing his/her best for the client by trying to get a bit more out of you. Volumes are very low at the moment and most EAs just need some sales so they will be keen to reach an agreement.

I don't know the house, the area or your circumstances, but in general you would have to have very good reasons to increase your offer in the current climate.

I would advise against making any contact with the agent quite yet, let them come to you. As silver surfer says you can always restate your offer in a few weeks.

Thanks to both you and Silver Surfer for the detailed responses and good advice. I agree, it's a case of keeping one's nerve and not getting carried away. The reassurance is very welcome.

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  • 434 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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