State agent asking more money

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    State agent asking more money


    Hi guys,
    I am a first time buyer and need experts opinion with some issue. So here are few details.

    The property advertised £325,000

    I offered initially £315,000 which was rejected, then I offered £318,000 rejected again, offered £321,000 rejected again. Then finally the state agent advised me that if I offer £325,000 then most likely the vendor will accept your offer and the property will be removed from the market. They were confident on this amount and were keep telling me this figure.

    NOTE: Property is on the market for more than a month and during price negotiation they were keep telling me that we have viewings/offers so you need to hurry otherwise so and so.

    NOTE: As per my experience if you offer and your offer is less then or equal to already rejected price by the vendor then normally state agent advised this before putting forward your offer to vendor. Because they haven’t advised on my offer of £315,000 in the first place I believe there was even no offer of £315,000. (At that point I think I should wait as opposed to rush and goes up to £325,000 in 1 or 2 days, anyway my mistake that I rushed).

    I wait for 2 days and finally offered £325,000 because I like the property and ticked all my requirements. Now when I offered this amount the state agent said they will check with vendor and will come back to me. When they came back they said sorry it can be removed from the market but now vendor is asking £330,000.

    Now at that point I was pretty sure that the offer has been accepted and now they are filling their pocket, so I said to them please don’t call me again for anything except with YES/NO on my final offer of £325,000. If now they are looking more then just tell them I am not interested anymore. This was Saturday evening when we discussed this.

    On Monday morning the state agent phone me again and said congratulations the vendor has accepted your offer please provide funds proof, so we can remove it from the market hence I provided.

    They were happy with the funds proof and the property has been removed from rightmove and I also see the sold sign outside the house. They also sent an email and posted the confirmation letter as well.

    Now here is the game starts again. While I am looking my conveyancing service and filling mortgage application form they sent me this email after two days later.

    “Afternoon XYZ,
    Im afraid we have received an offer today from another person who viewed the property previously in which the vendors are now also considering.
    I understand from our conversations last time we would not be prepared to increase form your best and final of £325,000? And I presume this is still the case??
    I do apologise in relation to this, but due to this other party having viewed the house before, we legally have to submit any offers still put forward.
    Thanks, “


    My response to above email:

    Afternoon,

    Please go ahead with your OTHER offers and viewings. When you are done please let me and we will resume.

    Thanks


    This is all !!!!!!!! and there is no offer even near to £315,000 otherwise they would have sold this a long ago and State agent want to fill his pocket with some extra £ grands.
    Now there are only two possibilities I can think of that they are playing a game with vendor involved or vendor is unaware of this. I am not sure if this is possible to ask more money while vendor is not aware. The reason I think vendor is not aware because I asked few questions and after reading her answers doesn’t looks like they are asking increment in the price, but I might be totally wrong here.

    I sent few questions to them and this is what they answered which State agent forwarded their email.

    Vendor's email response to my questions.

    “In answer to the questions raised by the buyer please find below our answers:
    1) I have attached the front page of the lease details that were supplied by the solicitors. 999 yr lease from 15th March 1968 with a rent of £4 per year
    2) 1968 house was built
    3) Full fixtures and fittings list will be completed as normal with the conveyancing. We will take the chandeliers but all the sockets, switches etc will be staying. The alarm is on a contract with Verisure so we will supply details of that soon as we have spoken to them regards options of cancellation or transfer to the new buyers if they are interested as it is a monitored system which is very good (£52 pm)
    Hope that covers those questions for now, obviously anything they want to know or if they want to come back and view the house again tell them to feel free.
    Have a good day and speak soon.
    Best regards “



    Note: As you can see in the above response from the vendor they asked me to feel free to visit the house again hence I thought to do the second viewing and I booked a viewing for Friday morning. In my first viewing the vendor was at home but no discussion with them because we were not sure that we will buy this house. Just before I met with the vendor on Friday morning they started playing this game on Thursday evening and I said I am not going to increase any amount and they can go ahead with other offers because there is no other offers I think but I might be wrong. Hence viewing on Friday evening cancelled as well.

    Long story short,

    a) Should I wait for the State agent response and see what they come back with, no response since my last email to go with “other offer” to them. Its been second day. If let’s assume vendor has accepted another higher offer and rejected my lower one then altleast the state agent would have informed me that your confirmation of acceptance of offer is no more valid but no response?

    b) The other thing I was thinking to go to vendor’s house knock the door and explain the whole story and find out the truth?

    Or any other suggestion please.

    Thanks
    ifti

    #2
    You mean Estate Agents?

    Comment


      #3
      think so estate agents will get about an extra £50 for getting them and additional 5k so cant see them doing it to get extra thousands as you say

      Comment


        #4
        This is a really long question and I have not read it all

        But presuming not in Scotland or there was some some sort of acceptance with penalties attached
        they can do whatever they like.

        If you think they are trying it on, and you don't want to pay more then withdraw, or reduce your offer by £1000 per day of delay and see what happens.

        Comment


          #5
          I would look for another house! I would not trust this vendor / estate agent to let you get a long way down the conveyancing line & the ask for more money by which time you will have spent money on the purchase and lost time, so you are between a rock & a hard place. Better not to start on this road at all.
          Good luck

          Comment


            #6
            A month is not long for a property to be on the market. I'd never trust estate agents saying their are other offers but in this case there may be, but they may not be in a position to move as quickly as you will be if you are a first time buyer.

            I agree that this is the sort of vendor who will mess you about so just withdraw the offer and look elsewhere.

            Comment

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