Please advise regarding house sale

(27 Posts)
wannabegood Thu 20-Jun-13 11:16:03

We put our house on the market 10 days ago, we had 23 viewings and an offer of £173,000 the buyer has sold and wanted to complete in 3 weeks
We felt it was too low so they upped it to £175,000. Since then without my consent the estate agent stopped booking viewings and have been pressurising us to take the offer. My daughter in law rang them and they refused her an appointment to view!! In the meantime a friend has viewed with his daughter and she has offered 170,00 plus 5000 cash. He has brought round a mortgage in principal letter and asked if its a deal. Now I havent got a clue what I should do next and I am panicking!! please can anyone advise?

cavell Thu 20-Jun-13 11:55:39

I would be contacting the estate agent and ask why they had stopped marketing the house without your consent.

Not sure I understand the point of the £5000 cash - am I missing something? It would save the purchaser £50 stamp duty conspiring to avoid stamp duty is a criminal offence.

What is the house on the market for and what are you hoping to get for it? How long has it been on sale?

cavell Thu 20-Jun-13 11:58:17

Sorry for all the typos in the above. Meant to say: "It would save the purchaser £50 stamp duty - however conspiring to avoid stamp duty is a criminal offence."

MarjorieAntrobus Thu 20-Jun-13 12:00:04

Yes, I think you talk to the estate agent and ask why they have stopped booking viewings when you haven't yet accepted an offer.

How low is this offer of 175? If your asking price was 180, then it's a good offer. If your asking price was 225, then it isn't.

MarjorieAntrobus Thu 20-Jun-13 12:01:26

23 viewings in 10 days is good!

wannabegood Thu 20-Jun-13 12:19:05

it was on for offers over £169,950

They have offered the cash because she can only get a certain amount by mortgage. We are selling because we cant afford to stay not by choice

wannabegood Thu 20-Jun-13 12:19:45

thanks for all your replies btw smile

heinztomatosoup Thu 20-Jun-13 12:44:57

FYI just because she can only get a mortgage of 170, it is still an offer of 175k for comparison purposes. It is up to her how she funds the purchase I.e. Part mortgage/part cash. That is what most people do.

I think I'd be happy with 175 if it was on for 170k.

we are paying £30k in cash for our property but it is irrelevant to the vendor as long as they get their money.

it looks like the you've got 2 good offers there, but it is up to you if you want to go for more. the estate agent however is working for you so should be doing as you wish re marketing the property. you need to take it up with them.

wannabegood Thu 20-Jun-13 13:01:26

If I accept the offer will I have to pay the agent even though the buyer is a friend who came directly to me? I dont have the contract to check.

I dont feel like paying them as they stopped viewings without my consent

Mandy21 Thu 20-Jun-13 13:05:11

I'd be livid with the estate agents, I would be asking for a full breakdown of viewers, offered made, enquiries, an explanation as to why viewings have stopped, I'd log each and every call to them, I'd send instructions in writing (emails etc so you have copies) and when the house sells (i.e. so they can't frustrate the sale) I'd be lodging a complaint and expecting some kind of rebate in terms of the commission.

Aside from that, as long as the purchase price is recorded as £175k if thats what you agree, how the purchaser funds that is not really an issue for you, its a issue for the buyer's solicitor to make sure everything is above board. As someone says, what you can't do is agree a purchase price of £170k and then effectively take a back hander of £5k cash.

wannabegood Thu 20-Jun-13 13:46:31

thanks thats great advice, how would you handle the offer made privately? should I tell the ea i have sold it myself?

I will declare the sale as 175K I dont want to do anything dodgy

fubbsy Thu 20-Jun-13 13:52:55

You really need to look at your contract to see if you have to pay the agent for the private sale or not.

MrsMargoLeadbetter Thu 20-Jun-13 13:56:05

I would have thought it comes down to the agreement with the EA. I am guessing you signed something?

There might be a clause in there about direct sales during the time you are with them.

Perhaps you could sell to the person you know after your period with the agency ends?

wannabegood Thu 20-Jun-13 14:26:40

I need to get a copy of the contract then to check

MarjorieAntrobus Thu 20-Jun-13 14:49:42

The friend with 175 is just the same as the first offer of 175 ie it doesn't matter where the funds come from, so long as there are funds to cover the price.

Do you think that your EA assumed you would accept the first offer over £169950? Did you explicitly say what amount you were holding out for?

I think you need to talk very plainly to your EA. If your friend knew about your sale before you instructed the EA and if you named your interested friend to the EA prior to marketing it with the EA then it will count as a private sale, I think. Happy to be corrected on this.

wannabegood Thu 20-Jun-13 14:56:28

Yes I do think they thought we would take 1st offer, but we were also told we should achieve more but to go low to attract interest

bargainb Thu 20-Jun-13 15:15:09

Regarding selling houses in Scotland.
What is the cheapest way to get a Home Report? Is it necessary to get the Mortgage part which seems optional but costs a lot more.
Money is tight so I'm looking to save if possible.

MarjorieAntrobus Thu 20-Jun-13 15:24:11

Is the OP in Scotland? confused

wannabegood Thu 20-Jun-13 15:26:20

no im in england

bargainb Thu 20-Jun-13 15:30:33

Sorry for intruding on this thread. New user but got it fixed now.

I think Marjorie is right re private sales.

Ezza1 Fri 21-Jun-13 17:06:50

What price are you hoping to achieve for the property? A £173 raised to £175 on an oiro £169, 950 seems good to me?

What are properties similar actually selling for?

AdiosMuffinTop Fri 21-Jun-13 21:50:04

You ACCEPTED the offer though confused

Have you looked on the price register?

Chunkamatic Fri 21-Jun-13 22:35:36

Yes Marjorie is right, you have to have named your potential private buyer before you take out a contract with the EA in order to avid paying them the fee.

Assuming you didn't do this, if you have two rope offering the same amount then really you should offer them both the chance to give a best and final offer.

Although it does rather sound like the EA believes you have accosted an offer already, where has that miscommunication come from?

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