Lost dream house due to advice of estate agents(108 Posts)
I recently found the perfect house me and my fiancé are currently living with his parents and have been desperately saving to buy our first house together. We wanted a specific area and the perfect house in our price range came up. We went to view the house which needed work doing to it. We put in an over just slightly below the asking price to start off. We was sent an email to advice that there were other people interested on Monday and to be patient with the estate agents as the seller was away. I asked the estate agent if they would make me aware if our offer had been out offered as we was willing to increase a substantial amount. The estate agent advices me to hold off as this was very likely to go to best and final offers as all party’s were very similar positions and similar offers. I went into the estate agents on Wednesday and told them I was feeling very nervous because I really wanted the house I asked for advise on what I should do they advised me to wait and they will be in contact after the seller had been into the office Thursday. Today was the day I waited for a call it got to 1pm I had not received a call, I made a call to the office to make sure they didn’t want me to put the offer in then they said they had the seller in front of them and would be in touch. 4:30pm I received a call to advise that the seller had chosen not to go to best and final offers and picked one of the offers on the table. I am heartbroken I feel I was misadvised we was willing to offer a lot more but they didn’t give us the opportunity, now they are just saying it’s not their choice but the sellers! I understand that but I asked on two occasions for advise on what to do could they not have told me to increase offer if I was willing to do so? Anyone else been in a similar situation. I am not feeling very positive this is the second time we have lost out, we have a 3 year old and we need our own space. We contacted the estate agents explained he asked what was we willing to go to which I told him. he said he would put it to the vendor ( which tells me it must have been higher than what was on the table) the seller said thank you very much but he’s old school and doesn’t want to let anybody else down. I will certainly be learning from this.
EA represents the vendor. Therefore he can not operate in your best interests. He also cannot dictate to the vendor.
Put in a higher offer. Agent had to pass it on by law
Well the estate agent has to go with what the vendor wants. You could have put in a higher initial offer if you so wished.
I would write a letter to the vendor and put it through the door x
Put in your highest offer by letter today to both EA and vendor
You're using advice and advise the wrong way round, and that was really difficult to read. Paragraphs and proper sentences are your friend.
They need to do what their client wants. They got a bunch of offers, they assumed from their experience that it would go to best and final, which is the norm, but the seller chose not too.
Everyone else would have been asking the same thing, so the EA would have been calling back and forth to several bidders and that's not how it's done. A bidding war between 1 or 2, then yes but lots of you... it should have gone to best and final. It's not their fault that the seller returned and said no to the norm.
Please try not to fully fall in love with a house until you own it, buying a house is mega stressful and a lot often goes wrong Nd you can loose it at any point.
Learn from this, the vendor has made their choice and keep looking
I second writing a letter stating that you are chain free and looking for a family home add if you have mortgage offer in place solicitors ready to go and will to move at their pace etc
You may put in a higher offer but that doesn’t mean they will accept. The other offer may have been a cash offer and that may suit them better.
If you really wanted to secure the house an asking price offer straight off would have been best. Saves messing about.
The sale might still fall through, make sure the EA knows you are keen and you could always leave your details with the vendor directly.
Along with the higher offer I would offer them a very close date for exchange.
Some vendors are like this. They have principles and don't believe in people bidding against each other.
They had the offers in front of them and chose the best from that.
Learn form this. If you really like it put in full asking price!
I echo everyone. Write the offer you are willing to go too. Pop it to the estate agent. And I would also pop one through the door
The estate agent I believe have you the wrong advice. I would of just gone in with the highest. The seller though unltinwtely didn’t go with the beat offer though it seems
Might of been cash offer etc.
Put down all your pros in the letter
Chain free. Mortgage done. Etc. All those.
I'm starting to feel sorry for the people who've had their offer accepted by a seemingly decent vendor.
Also sometimes it just goes to whoever the buyer wants to sell their house to OP too tbh. They might just have preferred to sell to a new cash buyer or someone without kids. Some sellers do this.
I don't think you lose anything by writing to EA and vendor with a higher offer.
The sellers might be making a decision based on other things like how quickly things could do through.
First house we offered on offered asking price had mortgage agreed in principal and sizable deposit first time buyer so no chain. We were turned down we were told by EA offering more wouldn’t help as they were selling to friends - friends who paid fair bit less than asking price and mucked them round for weeks as their chain almost fell apart – learnt that later.
Being stopped on street by person who had shown us round one house and knowing neighbours through nursery on house we'd offered the thinking seems to have been we’d have offered on another family member’s house we’d also looked round despite making it clear it didn’t suit us .
Worked out for us as we learnt later first house was on round side of road for school catchment we wanted - which could have cause us issues with our younger children.
OP already put in a higher offer. It was refused because the buyer had already accepted the other offer and did not want to let that person be gazumped.
Am I the only one to spot at the end of all that, the EA did put the higher offer forward and the vendor rejected it?!
I'm sorry you lost out on the house OP but I'm not sure why you are blaming the EA for the vendor (sellers) actions. If you wanted to offer higher in the first place then you would have done that.
Let this be a lesson in future. Don't mess about. Offer what you think the property is worth (and what you can afford).
If that's the asking price then do it.
That's what we did. We saw our ideal house. We'd been looking for ages. We didn't mess about and went straight in with an offer at full asking price. If you really want the house it's not worth missing out for the sake of a few thousand pounds.
'We contacted the estate agents explained he asked what was we willing to go to which I told him. he said he would put it to the vendor ( which tells me it must have been higher than what was on the table) the seller said thank you very much but he’s old school and doesn’t want to let anybody else down.'
OP that's not how it works. You don't put in an offer and then ask the agent to tell you if anyone offers more so that you can raise your offer.
You put in an offer and if it is refused you can raise it. Unfortunately, someone offered more in the first instance and that offer was accepted.
Someone had already offered an amount the seller found acceptable. Knowing other people were interested you should have immediately put in your best offer prior to them going to the seller.
The agent acts for the seller remember not you so they are not allowed to advise you.
You played the game and lost unfortunately! Life lesson in it- the EA is never on your side as a buyer.. similar happened to us but we ended up with a much better house in a better location so it will all work out
I've been in a similar situation. As above, go round to the property/vendors house & put a letter through the door explaining what has happened, how upset you are that your agent give you bad advice & refused you putting in a higher offer before the decision was made with your contact details etc & say how much you live their house & looked forward to it being your first family home. Doing this meant our house offer was accepted 👍🏼
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