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Walk away from a house you love?

11 replies

nickEcave · 06/05/2015 09:42

We had a viewing last weekend on a house which, whilst not perfect, ticks a lot of boxes and is in our ideal location. It is on at £595K and has been on the market 6 months, 3 months with one agent and now 3 months with another agent who told us there were no offers on it. We put in a bit of a cheeky low offer which was rejected and then offered £565. (5% below asking price). The vendors have come back claiming they have an offer of £575K. However the agent says that this offer is not through them and as they have a sole agency contract the vendors will owe 2 lots of agency fees if they accept this offer through another agent. We are thinking of offering £575 ourselves which would be the absolute maximum we could afford but are worried these vendors could prove difficult. We don't believe they actually have an offer through another agent but if they do and are showing the property through multiple agents without telling them is there a risk they may carry on showing the property once they accept our offer? Not sure how prevelant gazumping is these days but I remember my parents getting stung by this in the 80s and, whilst I love this house, I would rather walk away if the vendors can't be trusted at all. Has anyone dealt with vendors they thought were untrustworthy or should I go with my gut? We have only bought one house before which was a probate sale, so never had any dealings with the vendors that time.

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Quitelikely · 06/05/2015 09:45

If they accept your offer just state that it's on the condition the house is off the market.

It is strange that the agent cannot confirm if they truly have received an offer.

I think they're lying. In your shoes I would increase current offer by 5k then sit tight for a few days!

nickEcave · 06/05/2015 09:55

The agent has confirmed the alleged £575 offer is not through them, so either the vendors have received an offer privately or through another agent which they are not supposed to do as they have a sole agency contract with the agent we are dealing with or they are lying.

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Quitelikely · 06/05/2015 10:24

If it's not on with another agent I doubt a member of the public is going to call another agent and place an offer through them rather than the original agent.

And if it was a private offer, they could easily wait until their contract was up with the current estate agent and then sell it privately, saving themselves a tidy sum in the process.

I'd say they are bluffing!

Itscoldouthere · 06/05/2015 10:32

Yes I would say a bit of bluffing is going on to try and get a price that they feel is nearer what they think the house is worth.

I would sit it out a bit, don't go in with your best offer then regret it, or feel that you are paying too much.

PistolAnnie · 06/05/2015 11:41

I'd sit tight I think. Leave your offer on the table and they might get back to you once they see their other 'offer' hasn't prompted you to raise your offer to match it.

If you really want it now maybe up your offer by £5000 on the condition that it stops being marketed.

Good luck!

WhoNickedMyName · 06/05/2015 11:47

sit tight with your current offer of 565. they're bluffing.

RaphaellaTheSpanishWaterDog · 06/05/2015 17:41

I also think they're bluffing and would sit tight till they realise you're not falling for it......

beardeddragon174 · 06/05/2015 18:21

Cheeky!! Wait it out.

beardeddragon174 · 06/05/2015 18:21

(Cheeky of them. Not you!)

TheTravellingLemon · 06/05/2015 18:27

I would wait it out too. And from bitter experience it's not worth dealing with difficult vendors. It just makes everything so stressful. We had our dream house and the owner just completely took us for a ride and ended up pulling out anyway. It was heartbreaking. My advice is stick to your guns for a few days and see what they do. Even if they do have another offer, which seems unlikely, it won't be worth it to them to break their contract with the agents so you might find it doesn't matter anyway.

nickEcave · 07/05/2015 12:12

Apparently the £575 offer is from a chain free investment buyer and came via their original agent several months ago so they are not in breech of contract to their new agent. We upped our offer to £575 but they have decided to go with their original offer so our hunt continues! Can't believe how little decent stuff there is for under £600K in my bit of south London. Really hope things pick up after the election!

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