Offer on a house already sold?
Discussion
Every estate agent I've dealt with has been untrustworthy and tried to twist things to their own advantage rather than the vendors who they are supposed to act for.
If they get a desirable property they will almost certainly have a preferred buyer who is either offering them abribe or selling with the same agent. I know this to be a fact on the last 2 properties we've offered on.
OP put a letter through the door with your offer stating your position. I did this on the last property we bought after the agent told us the vendor has declined our offer and decided to go with someone else, it transpired that the agent had told the vendor to ignore our offer as they felt we weren't serious or in a position to proceed.
If they get a desirable property they will almost certainly have a preferred buyer who is either offering them abribe or selling with the same agent. I know this to be a fact on the last 2 properties we've offered on.
OP put a letter through the door with your offer stating your position. I did this on the last property we bought after the agent told us the vendor has declined our offer and decided to go with someone else, it transpired that the agent had told the vendor to ignore our offer as they felt we weren't serious or in a position to proceed.
silentbrown said:
mcg_ said:
Only this weekend I was round a friends very nice and incredibly rare house (Victorian, 9 bedrooms, middle of town). At one point he had an estate agent round his house, telling him in not so many words, that if he gave him 3k the house was his.
he told him to nah. thought it was lost. got a call, and 1500 later it was his.
Is it just me that can't make any sense whatsoever out of this post?he told him to nah. thought it was lost. got a call, and 1500 later it was his.
Vipers said:
psi310398 said:
Equally, isn't it just conceivable, even in the 21st Century, that the seller is simply honourable and is sticking by a bargain he has struck?
Good if he did, guzumping is a shocking practice.I had an offer rejected and decided to speak to the vendor directly, only then did we learn that our position wasn't presented accurately.
Buying and selling a house is pretty simple but seems to have been complicated by middle men, agents, brokers etc add very little value and just seem to complicate things.
ex1 said:
Buying and selling a house is pretty simple but seems to have been complicated by middle men, agents, brokers etc add very little value and just seem to complicate things.
Yes, but they're usually nothing like as bad as the actual buyers. We had one putting an offer in and then not contacting the agent ever again - and another who seemed to think that an unconfirmed mortgage offer of 80% of the asking price meant they were a 'cash buyer'. (They then put in a paltry offer after three viewings and got most upset when told to jog on...)mcg_ said:
Vipers said:
Good if he did, guzumping is a shocking practice.
What about taking advantage of a seller, to get a cheap house for your friend for a few quid? A little while later he drives past and there is a stc board up, little odd as he'd been checking daily for it to come online.
So he drives past and sees someone is it at home. Knocks on the door and asks what's happened, a quick chat with the owner and apparently they got an "asking price offer" as soon as it was listed....
So my friend makes him an offer of what he had valued it at.. needless to say it was more than the "asking price". Said friend did the deal and bought it direct from the owner (still at cheap price to be fair!)
He then took the stc sign up and walked into the estate agents with it. Telling them they could have it back as he'd just bought it.
Edited by Gav147 on Monday 4th December 22:26
But also, fair play.
We apparently lost out because the other parties mortgage was smaller (we where 90% loan value, to be non-chain on two other properties we own) which at first glance you think 'fair enough they had to choose something' then half an hour later you start wondering how the hell the vendor knows how large your mortgage is and why. Chinese wall between the mortgage adviser and the estate agent eh?
Daniel
We apparently lost out because the other parties mortgage was smaller (we where 90% loan value, to be non-chain on two other properties we own) which at first glance you think 'fair enough they had to choose something' then half an hour later you start wondering how the hell the vendor knows how large your mortgage is and why. Chinese wall between the mortgage adviser and the estate agent eh?
Daniel
Lots of unfounded accusations at the agent based on nothing over the last 4 pages.
If you want to get involved in Gazumping, submit a clear written offer for the property to the agent. State your buying position, financials (deposit etc), timelines.
The agent is bound by law to put the offer forward to the client.
Ensure you get written confirmation of the offer being submitted and also the acceptance/rejection of your offer.
There is nothing more you can do.
But, next time someone gets gazumped and starts screaming about how scummy agents are, remember agents don’t gazump people, people do. Proactively gazumping a sold House is simply not worth the agents time.
If I tarred all buyers with the same brush as the minority they’d all be greedy, ignorant, manipulative scum who will do anything to anyone to get the house they want. They know no moral or ethical boundary and can’t keep their emotions in check. When they don’t get what they want, they blame everyone other than themselves. But, I don’t tar them all with the same brush because that would be silly.
Good luck with your pursuit of the house.
If you want to get involved in Gazumping, submit a clear written offer for the property to the agent. State your buying position, financials (deposit etc), timelines.
The agent is bound by law to put the offer forward to the client.
Ensure you get written confirmation of the offer being submitted and also the acceptance/rejection of your offer.
There is nothing more you can do.
But, next time someone gets gazumped and starts screaming about how scummy agents are, remember agents don’t gazump people, people do. Proactively gazumping a sold House is simply not worth the agents time.
If I tarred all buyers with the same brush as the minority they’d all be greedy, ignorant, manipulative scum who will do anything to anyone to get the house they want. They know no moral or ethical boundary and can’t keep their emotions in check. When they don’t get what they want, they blame everyone other than themselves. But, I don’t tar them all with the same brush because that would be silly.
Good luck with your pursuit of the house.
Edited by FrankAbagnale on Tuesday 5th December 00:05
silentbrown said:
Yes, but they're usually nothing like as bad as the actual buyers. We had one putting an offer in and then not contacting the agent ever again - and another who seemed to think that an unconfirmed mortgage offer of 80% of the asking price meant they were a 'cash buyer'. (They then put in a paltry offer after three viewings and got most upset when told to jog on...)
The difference is you need a buyer and a seller, you dont need a middle man. How did a middle man add anything to those examples? FrankAbagnale said:
Lots of unfounded accusations at the agent based on nothing over the last 4 pages.
If you want to get involved in Gazumping, submit a clear written offer for the property to the agent. State your buying position, financials (deposit etc), timelines.
The agent is bound by law to put the offer forward to the client.
Ensure you get written confirmation of the offer being submitted and also the acceptance/rejection of your offer.
There is nothing more you can do.
But, next time someone gets gazumped and starts screaming about how scummy agents are, remember agents don’t gazump people, people do. Proactively gazumping a sold House is simply not worth the agents time.
If I tarred all buyers with the same brush as the minority they’d all be greedy, ignorant, manipulative scum who will do anything to anyone to get the house they want - and when they don’t blame everyone other than themselves. But, I don’t tar them all with the same brush because that would be silly.
Unfounded? It's not gazzumping if the EA deliberately undervalues at the outset IMO.If you want to get involved in Gazumping, submit a clear written offer for the property to the agent. State your buying position, financials (deposit etc), timelines.
The agent is bound by law to put the offer forward to the client.
Ensure you get written confirmation of the offer being submitted and also the acceptance/rejection of your offer.
There is nothing more you can do.
But, next time someone gets gazumped and starts screaming about how scummy agents are, remember agents don’t gazump people, people do. Proactively gazumping a sold House is simply not worth the agents time.
If I tarred all buyers with the same brush as the minority they’d all be greedy, ignorant, manipulative scum who will do anything to anyone to get the house they want - and when they don’t blame everyone other than themselves. But, I don’t tar them all with the same brush because that would be silly.
I don't tar all EA's with the same brush however I have bought / sold c20 houses in my time and negotiated on a fair few others. In that time I have only found one EA that I would 100% trust....perhaps I've just been unlucky.
I gave a summary of 1 dodgy EA trying to con my parents earlier and here's another...........EA turns up at my house with a trainee....I had my own mind / research on the value but he insists I am 20 % too high....after 20 mins or so I go outside to take a phone call but my 10yr old son stayed in the room with them...........I came back and he once again badgered me to put on the market at the lower price... wasn't desperate to sell but I had my heart set on another house so reluctantly agreed, I sign up and they leave.
10 yr old then tells me " when you went out that man said Mrsxxxx will buy this for £xxxxxx to that other man"
No less than an hour later I get a call from EA - a Mrsxxxxx wants to view in the morning..........next morning she views and almost immediately offers the full EA suggested price..........I decline and say I want 20% more..EA rings and berates me over the phone "if you won't accept 20% less we cancel contract" ok said I put in writing (which he did) ........ couple of days later letter through box " we really want to buy and happy to pay 20% more....... yours Mrsxxxxx
Mrs xxx bought the house and EA tried to get commission....he never carried out his threat to sue me.
ex1 said:
The difference is you need a buyer and a seller, you dont need a middle man. How did a middle man add anything to those examples?
For me there's no doubt the agents earned their fee. I feel we got excellent advice and support all through the process. Maybe we were just lucky 
There's a lot of s
t on this thread about Estate Agents.
A simple thing to remember:
If the vendor gets 3 valuations then how can one vendor undervalue it to sell to a mate?
A house is only worth what someone is prepared to pay and we don't know the circumstances of how quick they need a sale. They may be about to miss out on their dream home or need the funds to care for a relative etc.
Fault lies with the Vendor for not doing enough research IMO
It is simply not worth an Estate Agents time to undervalue it or get involved in Gazumping as it is worth feck all to them. Yes they may get a back hander of a couple of grand from a developer but how many instructions would they miss out on by doing it - they'd soon be out of business.
t on this thread about Estate Agents.A simple thing to remember:
If the vendor gets 3 valuations then how can one vendor undervalue it to sell to a mate?
A house is only worth what someone is prepared to pay and we don't know the circumstances of how quick they need a sale. They may be about to miss out on their dream home or need the funds to care for a relative etc.
Fault lies with the Vendor for not doing enough research IMO
It is simply not worth an Estate Agents time to undervalue it or get involved in Gazumping as it is worth feck all to them. Yes they may get a back hander of a couple of grand from a developer but how many instructions would they miss out on by doing it - they'd soon be out of business.
FrankAbagnale said:
alfie2244 said:
Unfounded? It's not gazzumping if the EA deliberately undervalues at the outset IMO.
My mistake, I didn't realise it had been proved that the property was deliberately undervalued.
AlmostUseful said:
FrankAbagnale said:
Lots of interesting stuff
All very good, sir, but as one of the most famous conmen in history why should we listen to you? I've seen your movie, you pretended to be a pilot and a doctor, why should I believe you know anything about selling houses?
mcg_ said:
Quite entertaining this read.
Perhaps if estate agents were honest, none of this would have ever started? But then also an ahole for wanting to gazump a sale I suppose, oh well.
Only this weekend I was round a friends very nice and incredibly rare house (Victorian, 9 bedrooms, middle of town). At one point he had an estate agent round his house, telling him in not so many words, that if he gave him 3k the house was his.
he told him to nah. thought it was lost. got a call, and 1500 later it was his.
good isn't it.
So basically - estate agents is dishonest (again based on what evidence - aside from your insistence it is undervalued). You still made the first move on the cycle by having a weird, cryptic attempt at gazumping - which sort of implies you knew you were being dishonest. Well what if i say, maybe put in, say an extra, say £15k, say, what would you say? Perhaps if estate agents were honest, none of this would have ever started? But then also an a
hole for wanting to gazump a sale I suppose, oh well.Only this weekend I was round a friends very nice and incredibly rare house (Victorian, 9 bedrooms, middle of town). At one point he had an estate agent round his house, telling him in not so many words, that if he gave him 3k the house was his.
he told him to nah. thought it was lost. got a call, and 1500 later it was his.
good isn't it.
Just make a damn offer if you are so convinced you are in the right.
Also, went on to tell story about mate who had an alleged estate agent demand an alleged bribe. Then rather than reporting them for this attempted extortion - your mate pays him a bribe (which you seem to be bragging about him negotiating down.....).
So I think any accusations of dishonesty from anyone at this point is the pot calling the kettle black.
You decided to play their game, you lost, now you are having a strop because you aren't getting your own way.
Vocal Minority said:
So basically - estate agents is dishonest (again based on what evidence - aside from your insistence it is undervalued). You still made the first move on the cycle by having a weird, cryptic attempt at gazumping - which sort of implies you knew you were being dishonest. Well what if i say, maybe put in, say an extra, say £15k, say, what would you say?
Just make a damn offer if you are so convinced you are in the right.
Also, went on to tell story about mate who had an alleged estate agent demand an alleged bribe. Then rather than reporting them for this attempted extortion - your mate pays him a bribe (which you seem to be bragging about him negotiating down.....).
So I think any accusations of dishonesty from anyone at this point is the pot calling the kettle black.
You decided to play their game, you lost, now you are having a strop because you aren't getting your own way.
u ok hun?Just make a damn offer if you are so convinced you are in the right.
Also, went on to tell story about mate who had an alleged estate agent demand an alleged bribe. Then rather than reporting them for this attempted extortion - your mate pays him a bribe (which you seem to be bragging about him negotiating down.....).
So I think any accusations of dishonesty from anyone at this point is the pot calling the kettle black.
You decided to play their game, you lost, now you are having a strop because you aren't getting your own way.
Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff