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ASBEAR

Some agent still think it's seller's market?

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Found this property, which has got an slightly lower but really acceptable offer in housing market. But the listing still hasn't changed to "Sold STC" and encouraging gazumping. If I were the buyer, I would withdraw my offer as soon as I see this.

I believe the EA also knows it, but why would they do this? I suspect if they really got an offer... :rolleyes:

Quote

We are in receipt of an offer of £370,000 on the above property.
Any interested parties must submit any higher offers in writing to the selling agent before an exchange of contracts takes place.

http://www.rightmove.co.uk/property-for-sale/property-45580353.html

 

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20 hours ago, ASBEAR said:

I believe the EA also knows it, but why would they do this? I suspect if they really got an offer... :rolleyes:

http://www.rightmove.co.uk/property-for-sale/property-45580353.html

Is the house a repossession? If it is then Estate Agents are OK to try and curry higher offers for the mortgage lender.

Edited by MattW
added a bit more

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As others have said, it's a repo / bankruptcy and by law the agent/seller has to state that.

Don't be too alarmed though, by my estimates loads of offers like those fall through. I watched one round here fall through and drop in price about 5 times before it finally sold.

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