Point 4 sort of says it all. It's open season until exchange; the rest is advice. A bit like the Highway Code vs the road traffic act.

 

My thinking was an EA had to pass the offer on. Eye opening, and open to fraud, particularly in a buoyant market as per where I'm looking to settle. No wonder the **** drives a Ferrari.

 

The joke of it is that if you buy a 2nd hand car you go see it, kick its tyres, test drive it, inspect it, climb under it, etc. etc. but for a house (many many times more expensive than most cars) how many people do you know that do a "sleep over" before buying ^^

You're putting an awful lot of trust and your money behind the chap in the smart suit and Ferrari (in this case) but in reality he's no more than a 2nd hand care salesman with probably the same level of qualifications (in the UK).

9 out of 10 times they do complete FA for the sale but still pocket a healthy fee.

Frightening really isn't it.

 

You're right. The more I think about, the more I think **** him, I'm going direct. He's getting the fixed fee ( maybe), so my offer can miss his spiv spin.

If he doesn't get his fee then it's his fault for failing to pass on my offer.

His ferrari is a mint Magnum PI one. A proper bell end.

 

Do it and let us know how you get on.

I must be too honest - I've only got a WRX

 

The process is in place. The property is empty and vendor overseas so it's not quick to sort.

I'm driving a 1979 Merc 230, so my fuel bills are like yours without the power. Cooler, though ��.

Your words have been of great help, so thank you; it exactly why I posted here after about 6 years away.

I always thought the EA game was black & white, but clearly it's not. Looks cheeky where I live though!

 

I'm a bit late to the game but I would not think twice about contacting the vendor directly. I've done it before and have had it done to me as well.

Be prepared for what the EA will then do. He'll probably tell the vendor that you are a poor prospect as a buyer ie you are unlikely to actually complete for some reason or another.

There is a chance that the EA has undersold it to somebody he knows for a finders fee. For all you know it
may not even really be for full asking price.

If you are serious about this then time is of the utmost importance. If you don't make contact before the contracts go out the vendor may morally not want to back track at that point. If they exchange, which can sometimes happen very quickly, then the deal is legally sealed and there is no going back.

The EA sounds like a wideboy and so will know every trick in the book to keep you out, be prepared and get your skates on!

 

EA probably on fixed fee.

I would contact vendor directly, if they accept your offer they are still obliged to pay EA fee since you have previously made contact via them

 

Not necessarily mate. Even if he was on a percentage he won't care about the OP's £15k if he has another agenda.

If he is on say 1% then the extra £15k would equate to another £150 in commission, he ain't going to go to any trouble for that.

 

Sounds to me like the Estate Agent is up to no good, probably got a few regulars on his books and tips them the wink / oils the wheels or maybe he and a couple of pals go in on a few cheap houses, probably both if he's got any smarts at all.

Lets be right, you'd have to be pretty stupid not to have contacts like that if your in the housing game, theres an awful lot of money to be made even if your not too bright.

 

Why is the estate agent up to no good ?

The house was on the market for x amount that has been achieved ?? Seller happy, new buyer happy, EA happy.

Gazuming is a horrible thing to do .... It sounds like the EA is following the moral line.

 

Seem to all be forgetting that the seller may have said no further offers will be accepted after price agreed to the agent.

Also as above, EA may just have a decent moral compass

 

Estate agents with morals ok then loving the world you lot live in.

 

Well said, there.

 

So if you were selling and accepted an offer but before the prospective buyer incurred any costs another buyer offered an extra £15k you wouldn't want to at least know about it??

The seller could miss out on another £15k, that is immoral in my book and means the EA is not acting in his client's best interests.

 

I used to do this for a living. All offers have to be put forward. The vendor can reject if they like but the Agent has to put your offer forward. You can, of course, leave the vendor a letter at the house asking if they received the offer and there is always the Ombudsman if you feel aggrieved, but it'll require proof. All I will say though is this.....if the agent is playing silly buggers now, they can still shaft you mid sale by saying someone has pulled and deal is dead. It's a shady, relatively unregulated industry, and I am glad to be well shot!!

My advice, find another house. This one isn't for you.

 

FP! Have you still got the dog mate?

 

Hello mate. He passed away about 9 months ago from cancer. Once I got hom trained and calm he was perfect, and a top guard dog despite being softer than ****e. Broke my heart and the heart of my now fairly elderly terrier, who became his best buddy and still to this day looks for him in the garden every day.

As for the house..... The EA called me back a week later asking for a further £15k so I told him to koff. The house reappeared on rightmove for its original price and went under offer again quickly. I'm pleased as we found somewhere else that's better and we've accepted an offer on our current place.

 

Sorry to hear that mate, he was a lovely dog if not a bit nuts! We still have ours, there's a lot to be said for buying from a good breeder, he's ten now and still fighting fit. Are you on Facebook? Don't come on here much now.

 

LVC is quite right with his posts

An estate agent is little more than a man with the power to stick a for sale sign in the garden and a picture in the paper for an agreed fee with the seller.No legal marvellousness surrounds them at all

Their contract is with the seller so no legal obligations to you.However you can of course go direct to the seller and make an offer.And right royally wind them up when they find out Magnum ice cream PI has not been telling them about offers

 

We had serious issues after agreeing a purchase on our house to do with a technicality of the deeds on the house we were selling. It took two months to sort out and our estate agent stuck with us despite them having several people coming in with offers of more money. In the end, I took out a bridging overdraft for the whole amount to buy the house, which was pretty scary for a while. Because the agent did the right thing, we were able to buy the home we've been in for the last 15 years and we're very happy here.
In my business once I've agreed a deal that's it. I don't suppose my customers would be happy if I agreed to sell them a really nice Subaru and then decided to sell it at the last minute for more money to somebody else. There's more to life than money, and a bit of decency doesn't go amiss. The people who have put the offer in for that house may have compelling reasons to want it. Maybe the OP should just go and wave his cash elsewhere and let other people get on with their lives.

 

Estate 'agent' is just that.An agent making a fortune doing sod all