Active discussions

Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Estate agents - can they do this?

29 replies

Obeythedancecommander · 08/03/2023 05:14

I have an estate agent selling a probate property condition in pretty poor condition but with a bathroom and kitchen and structurally is fine.

Property was listed in September and a buyer found and removed from advertising, the property fell through after 1 mortgage application was declined (property condition) a 2nd offer was made but retracted and a third application was declined last week due to property condition. I suspect something wrong with buyer's circumstances but estate agent adamant condition is. Long story short they have been terrible to deal with communication wise and didn't inform me the 2nd offer had been retracted until months after it had been. It has all dragged on and been a complete waste of time.

Estate agent told me I should relist as cash buyers only (as I don't believe the property is unmortgageable at all) and I wasn't happy with the communication or service overall so I gave my written 21 days notice of cancellation with them on Monday (I plan to go with another estate agent who I have been in contact with)

Just woken up and they have relisted the property on right move and put cash buyers only! I am furious as I expressed on the phone several times and in an email that I don't want it listed as cash buyers only.

Where do I stand with this? Can they relist it even though I didn't say to relist it and can they put cash buyers without my consent? It feels like a petty attack.

OP posts:
Imnoonesfool · 08/03/2023 06:35

Just ask them to amend it.

Original poster
Obeythedancecommander · 08/03/2023 06:36

I didn't even want them relisting it, never mind having to amend it!

OP posts:
Swiftswatch · 08/03/2023 06:39

It’s sounds like you’re ignoring the obvious, two different buyers were refused a mortgage on the properly due to the property’s condition. It likely needs to be listed to a cash buyer.

They shouldn’t have done it without your approval so you are fine to be annoyed about that but clearly the flat isn’t selling and YABU for refusing to listen to their advice.

vickibee · 08/03/2023 06:39

Change agents, go to auction?

Zcity · 08/03/2023 06:40

They sound horrendous!

Tell them to take it off Rightmove as you're going with another agent.

Grumpsy · 08/03/2023 06:41

They can do that, they work for you at the end of the day. Tell them to remove the listing.

i do question whether you are being realistic with whether the property is mortgageable or not though, for 2 sales to fall through from the mortgage company I fear you may be refusing to accept the truth. Although it is difficult to say without seeing the property.

SafelySoftly · 08/03/2023 06:41

No of course not but you need to start putting everything in email. They know they’re going to lose the business so are quite happy to sabotage another estate agent chances I’m sure.

donquixotedelamancha · 08/03/2023 06:41

I would write to them telling them you are terminating the relationship immediately for breach of contract and they must remove your property from their listings.

They have failed to inform you of an offer falling through, wasting months of time, and listed your property with incorrect particulars, despite being explicitly told not to.

CleaningOutMyCloset · 08/03/2023 06:41

Change estate agents, like anything some are shit, some not. Get a few out to look and have a conversation and get their thoughts, then swap agents

Original poster
Obeythedancecommander · 08/03/2023 06:43

Swiftswatch · 08/03/2023 06:39

It’s sounds like you’re ignoring the obvious, two different buyers were refused a mortgage on the properly due to the property’s condition. It likely needs to be listed to a cash buyer.

They shouldn’t have done it without your approval so you are fine to be annoyed about that but clearly the flat isn’t selling and YABU for refusing to listen to their advice.

It's all the same buyer who has been refused. 3 mortgage application's. One offer was made and then retracted by the lender. And its a house.

Even the estate agent himself said he doesn't know why they wouldn't lend as he has sold properties in a worser condition with a mortgage. Other people have also confirmed shouldn't be an issue with a mortgage, it has q bathroom and a kitchen with working sink structurally fine with no damp.

OP posts:
donttellmehesalive · 08/03/2023 06:44

You've given them 21 days notice so presume they can continue to market it for 21 days.

You can ask them to remove the request for cash buyers of course. They shouldn't have done that against your wishes and I'd like to think that's a misunderstanding on their part or an internal miscommunication rather than them being malicious.

But I don't really know why you'd object. It seems to be unmortgageable, as evidenced by two buyers failing to get mortgages due to condition. Why wouldn't you want someone to buy it for cash?

donttellmehesalive · 08/03/2023 06:45

Sorry, crossed with your update and now realise it's one buyer trying two lenders.

Abc12389 · 08/03/2023 06:48

Email them and ask them to remove from the internet immediately. You can’t go live with the other agent yet but you can remove from the market. Your new agent should help you word the email if you ask them.

Original poster
Obeythedancecommander · 08/03/2023 06:49

I did request termination of services on Monday (21 day notice period). It wasn't listed rightmove as it was pulled when it went sstc.

I also specifially requested that i didn't want to list as cash buyers only as it would cause people to think something wrong with the property when it's really only internally needing work.

OP posts:
Original poster
Obeythedancecommander · 08/03/2023 06:50

Abc12389 · 08/03/2023 06:48

Email them and ask them to remove from the internet immediately. You can’t go live with the other agent yet but you can remove from the market. Your new agent should help you word the email if you ask them.

This is what I wanted to know. If they can legally have it live without my agreement despite the contract needing 21 days before I could go to someone else.

It feels like it's being done spitefully as they have edited previous listing to say cash buyers only which I refused when I gave them written notice of contract ending.

OP posts:
MRex · 08/03/2023 06:54

You can complain and force them to amend it.

Ideally you need to know what went wrong with the first survey, because that report may be picked up by other surveyors and if it says your property is unsaleable then you have a problem. Do you have contact with the buyers to ask them? Many years ago I had a major (unfair IMO) survey issue when looking to buy and was happy to pass the report to the owners to let them try to sort it out even though I wasn't taking the property.

How much is actually wrong if it has a kitchen and bathroom, is there some other actual problem or are you sure it's decor only (very unusual for mortgage to be declined on decor?)? Can someone paint the walls and carpet the non-kitchen/bathroom areas of the house, to make it quickly saleable?

DibbleDooDah · 08/03/2023 07:01

It might not be the mortgage being refused outright but the mortgage companies valuing it at far less (therefore meaning the buyer can no longer afford it).

Our probate purchase was valued £100k less than the bottom end valuations of three estate agents. We had the money to make up the shortfall but many wouldn’t.

It could be a real sticking point so whilst you need to part company with an agent you have lost faith with, be mindful that cash buyers may well be the best way forward.

Original poster
Obeythedancecommander · 08/03/2023 07:08

I haven't had a full survey done myself, it was just a lenders survey.

The only feedback the agent told me was it was due to "property condition". Previously on the first mortgage application decline he just kept telling me that "lenders are looking for any excuse not to lend" and told me that again after it was revealed by my solicitor that we were on a third mortgage application.

I am very aware that a cash buyer might be the way to go but I didn't want to list it as such as it would cause people to ask why this was the case ,when infact it's only this one buyer who was actually given an offer for it to be retracted which to me makes no sense.

OP posts:
donttellmehesalive · 08/03/2023 07:16

If it was the lenders valuation I think pp has it right - it's been valued significantly below what you are asking, and condition will be a factor. So not unmortgageable but worth £100k or whatever less than the buyer needed to raise.,

Original poster
Obeythedancecommander · 08/03/2023 07:21

Maybe. It was valued 150k, offered 145k after 2nd mortgage application offer we renegotiated to 140k because the lender offered slightly less. Then suddenly it was retracted (don't know how long after the offer was made as EA told me absolute bugger all even after I requested this info)

OP posts:
Chickenly · 08/03/2023 07:22

Lots of advice being given with insufficient info. The main point missed is who the hell are you in this story?! Are you an executor or a beneficiary? Are there other executors or beneficiaries?

Original poster
Obeythedancecommander · 08/03/2023 07:27

Chickenly · 08/03/2023 07:22

Lots of advice being given with insufficient info. The main point missed is who the hell are you in this story?! Are you an executor or a beneficiary? Are there other executors or beneficiaries?

I am executor and the only beneficiary

OP posts:
Greenfairydust · 08/03/2023 07:32

I think you have the explanation above for the house not selling: two different lenders valued the house at much less than the buyer had offered.

The buyer could not get the mortgage amount they wanted and they did not have the cash to make up the shortfall, so had to withdraw.

So your house might be mortgageable, but you will have to adjust the price down accordingly when you go to another agent because it is likely other lenders will also be cautious about its real value.

You contact the current agent and ask them to remove the ''cash buyer only'' reference but they are still entitled to market the property through the notice period as per your contract.

It really is that simple...

Greenfairydust · 08/03/2023 07:34

The buyer also was likely to have planned to use some of the mortgage to fund the refurbishment on your house and the low valuation/amount banks would actually lend made that impossible.

Original poster
Obeythedancecommander · 08/03/2023 07:43

Greenfairydust · 08/03/2023 07:32

I think you have the explanation above for the house not selling: two different lenders valued the house at much less than the buyer had offered.

The buyer could not get the mortgage amount they wanted and they did not have the cash to make up the shortfall, so had to withdraw.

So your house might be mortgageable, but you will have to adjust the price down accordingly when you go to another agent because it is likely other lenders will also be cautious about its real value.

You contact the current agent and ask them to remove the ''cash buyer only'' reference but they are still entitled to market the property through the notice period as per your contract.

It really is that simple...

As mentioned above the only mortgage offer made was made for only a little amount less than the original offer they made. Then it was retracted from the lender later on so I don't think their valuation amount was drastically less.

I have asked them to remove the cash buyers only. I just didn't realise they could market it again when it hasn't been advertised for so long without my approval.

OP posts:
Swipe left for the next trending thread