House SSTC-viewing offered

[Purplecarrots]

Hi everyone,
Yet another post by me.
DH contacted a few estate agents a while back with regards to houses in a particular area (register interest for anything that came up). There was a house that has been under offer, but upon contacting the agents he was told that the sale may fall through on that one due to issues etc and they would let us know, that’s all fine. However, we have now been offered a viewing soon and advised that we can make an offer. The thing is, by the sounds of things the other sale hasn’t fallen through. I don’t understand why the estate agents have suggested this? The sellers have already bought another property and are pretty much moved out. It’s quite difficult to work out whether the other buyer is just having problems possibly selling their house? Wondering if anyone else has been in similar situation? Or if you were the seller and the estate agents suggested similar to this?
Thank you

[wowfudge]

You could end up in a contract race or gazmping the buyer. I would only view if it was actually re-marketed due to the sale falling through. The EAs will either try to use you to force the hand of the current buyer or keep you in the wings as a back-up plan.

[Lilmisskittykat]

I agree with wowfudge I wouldn't want to be used to start a bidding war

[Mildura]

Ask the estate agents selling the property for a clearer explanation of the current situation.

It doesn't sound to me like anyone is trying to instigate a bidding war, or a contracts race. More likely that the EA/seller has doubts that the current buyers are likely to be able to successfully conclude the purchase and are beginning to look at alternative options.

[FabulousSophie]

I agree with all of the above. I would be very wary, and only view if you have definite confirmation the previous sale is not going ahead. I wouldn't want to risk being used in a game.

[FabulousSophie]

When I was younger and more naive, I unwittingly allowed myself to be used as a pawn in EA's games on two occasions. They cunningly drew me into the games, and then ruthlessly and cruelly tried to exploit my weaknesses, leaving me scarred by the experiences. I'm older and wiser now. I accept the seller is often behind it, but the EA is the professional who is the expert at playing the games on behalf of their client. The EA's trick is to give you as little information as possible about their client/position, and on the other hand try to milk you for information about you. As a buyer, you are at a disadvantage, because a buyer is usually an amateur playing against a professional.

[Purplecarrots]

Thank you everyone for replies.
I definitely would not want to be used in a bidding war or gazump anyone.
I’ve spoken to DH, raised my concerns. After speaking to EA, the sellers have asked the EA to allow viewings/other offers because the buyers aren’t cooperating. According to EA, they have been given time frames, and final ‘warnings’ but are failing to come back in time. I don’t know whether the sellers are annoyed as they have purchased their new house and want to be out (according to EA they have pretty much moved out so want to sell this and set up properly).
As FTB I honestly don’t know ins and outs, and I will speak to EA hopefully again tomorrow to get a much clearer picture. I’m just wondering if the buyers aren’t actually that slow but are being pushed

Thank you for your replies.

[Purplecarrots]

Thank you Sophie (posted at same time). I’m getting quite anxious to be fair. I’d hate to find out we were used in the EA games. Really hope I can pry some more info out of them tomorrow.

[wowfudge]

Sounds as though the sellers have been making empty threats to the buyers. If you issue an ultimatum you have to be prepared to follow through with it or you weaken your position. Presumably they prefer a bird in the hand so haven’t actually pulled the rug from under the buyers. You are the back up plan. Too many metaphors, but you get my drift.

[Mildura]

Despite Sophie's previous experience I would counter that buyers and sellers are just as prone to game playing, if not more so than estate agents themselves!

As per my earlier post sounds like the current buyers are not getting on with things well enough to give the EA/seller enough confidence that it will all go through, and the EA is looking to see if there might be a better option out there.

[FabulousSophie]

Mildura That could be one of multiple simultaneous reasons they want to try to pull in another potential buyer. But until they tell the OP all the exact reasons why they are approaching her, she will not know. And often they will approach a buyer softly softly with soothing excuses and reassurances, but when they feel they have them hooked, their attitude will change and the game will suddenly start to be revealed as ruthless.

[wowfudge]

Tbh Sophie I think you credit EAs with too much guile and cunning. Ime they are not great strategists or game players, just rather transparently desperate to get their commission! Good ones far less so and more likely to be more straightforward.

[FabulousSophie]

I was on the receiving end of it, wowfudge. Including fabricated offers so I was bidding against myself, and a murder/suicide in house that they did not reveal to me!

[Mildura]

I think I'm inclined to agree with you fudge!

[FabulousSophie]

This was the murder house:

www.shropshirestar.com/news/2012/05/15/murder-mansion-osbaston-houses-16-acre-site-on-sale/

They didn't tell me about its history. All they said is that there had been a fire. I googled the place and found out about the history. I then asked the EA if there was anything usual about the place apart from the fire, and she said 'No'. I am sure you will understand the reasons why I do not have a very high opinion of EAs' integrity.

[FabulousSophie]

Apparently, in the UK, unlike the US, there is no legal obligation to disclose a murder in a house.

[wowfudge]

Tbh - especially once the place has been pretty much destroyed - it wouldn't bother me. People die in places all the time and I don't believe is ghosts, 'woo' or bad vibes. I remember that particular case. I also regularly drive past a house where the father killed his family and did a runner. No one realised what had happened for weeks. Someone else lives there now.

[Jayfee]

If the existing buyers are not progressing well, the property should be remarketed. You can then put an offer in knowing it is on the market.

[FabulousSophie]

It gave me the shivers/nightmares. I could not stop imagining how I would feel being there at night alone. I don't really believe in ghosts, but I started getting scared that maybe I was wrong! And even if it wasn't a problem for an unwitting buyer, it may be a problem if they want to sell it on. That kind of horrific history really needs to be disclosed to a buyer, especially when the question is asked.

[BentOutOfShape]

I think you are making a mistake In trying to work out what the situation is. Whatever they tell you you will have no way of knowing if they are telling the truth so there is no point trying to work out their intentions.
If I were you I'd visit the house and if you like it make an offer of whatever it is you think it's worth to you. Give them a time frame for how long the offer is valid and take it from there. There is no need to enter in any game playing.

[Mildura]

@FabulousSophie That may have been the case when you were negotiating your purchase, however estate agents are now covered by the Consumer Protection Regulations, which dictates that EAs must reveal information to buyers that "may materially affect their decision to buy" and this includes things like a previous owner committing suicide, or a murder having taken place at the property.

www.thisismoney.co.uk/money/mortgageshome/article-2315200/Learn-new-house-rules-Estate-agents-reveal-property-problems-says-OFT.html

[FabulousSophie]

Mildura I haven't got the exact dates with me, but it was around the time that new law came into force, quite possibly/probably afterwards. But even if the new regulations were not in place, it does not excuse the fact that when I asked if there was anything unusual about the property (having discovered the history myself), shockingly, the EA said there was nothing. I carried on but revealed to the EA that I had found out, but the whole affair became more and more unpleasant, because the EA was playing psychological games with me, which has put me off EAs for life. And that was only one of the experiences I mentioned.

[Mildura]

Like most industries, there's a whole spectrum of quality, from the very, very good, to the very, very bad, and everything in-between.

I can completely understand that your experience has affected your opinion, but not all EAs are so unscrupulous.

Source: Am estate agent!

[FabulousSophie]

@Mildura I expect you are right re spectrum. But I think all buyers should understand that the way the system is set up, the EA is not an honest broker and is not working in the buyer's interests. A lot of younger buyers don't quite understand this, and they are under the misapprehension that an EA is an impartial middleman. I think the system falls short in not requiring the EA to explain this clearly to buyers, and its implications.

[Mildura]

Completely agree.

The EA represents the seller, he/she who pays the piper calls the tune!

However, a good EA (of which there are a few!) understand that a buyer will one day become a seller!

[FabulousSophie]

Oh mil I would love to agree with you on that, and you may be the exception, but I'm not so sure the vast majority of EAs think that far beyond their next commission cheque! It is a nice idea, and it is certainly a clever riposte, but as you said, you are an EA, so you are able to come back with quick EA style responses to difficult questions!