To want to do more about house that EA says is STC

[AliceRR]

DH and I viewed a house about four weeks ago. We really liked it, we said it could be our dream house, perfect area, nice street, nice house but needs everything doing (windows and doors, bathroom, kitchen, decorating etc)

On the market for £295 which is a good for a 3 bed detached in that area but would be worth more when done up.

DH offerer £260k and was told by vendor agent no point putting an offer until we have sold our house but they work note our interest and update us if any developments.

No updates.

On the weekend I looked for the house online out of curiosity and saw it was no longer on Rightmove. Called EA and he said house was sold STC as of Monday last week. He apologised they had not told us. I asked price and he just told me it was less than asking.

I was annoyed as DH and I said it wa worth asking price and we would pay that.

DH called and they changed their story a couple of times about why they didn’t tell us (whereas they just apologised and said it was an oversight when I called).

DH offered £280k. EA said vendor wants to stay with current buyer. We don’t kno what current buyer offered but I cannot help but think EA would have said if it was more than £280K. DH then offered asking and was promptly told vendor said no.

I find it odd. Either they deliberately didn’t call us last week and give us the opportunity to put in a higher bid or it was an oversight but their client has potentially lost out on £20k (we don’t know what they have sold for).

I’m really disappointed as we both really loved that house. Have baby due in Jan and no other houses compare for me with the house and the area.

I should say we haven’t sold ours but we are looking at keeping current house to rent and buy the new one.

Is there anything we can do?

You're not in a position to proceed and you offered way below the asking price.
^^
If you wanted it so much, at least you could have offered the asking prIce.

"EA was wrong for not updating us before as they said they would"

But the agent works for the vendors, not you. I know they said they would keep you updated but really it was up to you to check if you were so interested.

Not many people are reading the OP's post.She DOES NOT WANT A BUYER. She is going to rent her house and buy another.

Just a word of caution.

It's a common misunderstanding that an EA is obliged to pass all offers on to the vendor. It's trotted out on MN and it's wrong. The EA is obliged to pass on offers unless they've been instructed otherwise by the vendor.

So, the vendor could have said they were happy for the EA to reject any offers that were not from proceedable buyers. They could have said the EA was authorised to reject offers below, say, £280k. They could have instructed the EA once an offer was accepted to reject any other offers.

If you contact the vendor directly now, be prepared for the vendor to tell the EA that's what you've done. If that EA deals with other properties that you might be interested in in the future, you'll be at the bottom of the pile when they're ringing round about a new property etc.

I appreciate that you are disappointed OP. Also, you are in late pregnancy so it might be the hormones not helping on this occasion as well tbh.

Although you may have proof of funds and a tenant, it looks like a knee-jerk reaction to the house going under offer rather than a plan. Surely if you had this arrangement ready you would have mentioned it and made an offer at an earlier stage? Is your house for sale with the same agent, so they know about any interest (or lack of) in it?

I don't think you'd take an offer from anyone in the same circumstances. Is this tenant a friend or relative, or do you have imminent plans to move out and remortgage because I can't imagine the average tenant is going to hang around for ever. It just doesn't sound like a plan going on what you've said so far.

I hope the sale of your own house happens soon and that you find a lovely new home for you and your family.

Yes but she clearly did not tell the EA that she was a cash buyer, or that she had a mortgage/funds in place when she made her original offer.

Put a note through their door saying what your highest offer is. If they don't contact you, then bad luck.

Also STC can mean that the seller, (not to mention the buyer) has spent a lot of time and money to get to the point that they are at now. The seller may well have booked movers, paid deposits, negotiated a contract for their onward purchase - all because they have their buyer. (A buyer who is committed as they have already spent money on searches and solicitors).

Why on earth would they go back to square one with you - especially as it is a risk. You could pull out at any time and they could lose out.

The buyers of the property may have offered 295k from the get go, might be cash buyers, first time buyers, offered more than 295k even.

Or maybe the owners just feel it is wrong to sell to someone else just because they offered more than the buyers they are working with.

If you all really wanted the property and it's as great as you describe then you should have offered 295k to start with.

Even despite the fact that you have not sold your house, the offer you gave - £260K - for a house advertised at £295K is a cheeky low offer. It probably really annoyed the vendor. £35 under the asking price is a lot for a house worth £295 (particularly as you are saying it was a good price).

When we advertised my last house at £210K, someone offered around £170. We laughed it off, because it sounds like someone looking for a deal and hoping we are stupid. We ended up getting the asking price, because that's what similar houses were being sold for.

If you live in a desirable area, you may need to up your game and realise that you will be in competition.

What I would do in your situation now:

• tell the agents that if anything falls through with the sale, you would like to know as you are still interested
• make a firm plan on what you are doing with your own house (selling, letting?)
• get on with making that happen so that you are in a strong position with your next offer
• move on mentally from this house and focus on finding the next one: these things can happen for a reason, and I bet your real dream house is still out there

Well said OlennasWimple.

You want to gazump the other buyer? I hope that someone does the same to you one day!

Firstly (haven’t read all replies yet) the offer was not that cheeky. The house is a nice house but in a dilapidated state and even the EA selling the house said he agreed it was not worth £295k

It is also not unreasonable to go in a bit lower to start with

It was only later that we decided we would pay asking price as we decided with all the work etc it was worth it to us

And no we were not setting out to take the house from others. My frustration is that the EA did not contact us an at earlier stage, as they said they would, as we could have put our higher offer in then. I am asking whether we have recourse against the estate agent but not sure we do.

Not sure why people are so aggressive! I ignore the rude ones by the way.

Also agree with Olenna's sensible advice.

However, we were once in your position; we told the EA we didn't have to sell to buy, we got agreement in principle for our remortgage of existing house and mortgage of new house, and put in offer which was accepted. After a couple of months of financial gymnastics we got our dream house, and our old house had tenants after a short (and expensive) delay! It is possible, but I don't think you were fully prepared at the beginning. Let it go, but get ready to pounce on the next one.

I wonder if you have been watching too much location location.
35k under is huge if you say worth the £295.

I am asking whether we have recourse against the estate agent but not sure we do
You are correct, you have no recourse against the EA.

You have no recourse against the estate agent.

Why would you try to guzump some one?? Proper low that i don’t see what difference it would of made the agent telling you an offer had been accepted xx

You offered 12% below asking price when you were prepared to pay full amount for the house.

That alone reveals your inexperience. Next time you need to be respectful and offer a sensible price if you want the EA and vendors to take you seriously.

But if you wanted it, you'd have put the (proceedable) offer in anyway! Why are you blaming the EA for not letting you know about another offer if you could have proceeded with yours? Probably because you couldn't proceed but it's not the EA fault from the info that you've given here. Your first offer wasn't even accepted!

And no we were not setting out to take the house from others.

What are you doing then?

And no we were not setting out to take the house from others

You offered despite it being SSTC. That’s absolutely what you were doing.

I applaud the EA for not enabling you to gazzump.

I am asking whether we have recourse against the estate agent but not sure we do

You don’t. They act on the seller’s instructions, not yours.

Tell them to keep you appraised if the sale falls through and keep househunting.

Chalk it up to experience and move on, OP.

I think responses seem blunt because your question is bizarre! If you liked the house, you should have put forward a serious offer to demonstrate your commitment, given you hadn't sold yours. If someone offered me 30k below asking when they weren't even in a position to move I'd completely dismiss them, and I can't see why an agent would be obliged to keep that person informed. If you're keen the onus is on you to keep in touch. Now that a sale with a proceedable buyer has been agreed, seller/agent would be morally wrong to try and bring you back in anyway.

As the house is a doer-upper you'll probably find it's a probate sale in which case the seller will probably be more interested in a fast, simple transaction then top whack price. You'll just have to keep looking unfortunately.