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Property/DIY

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Original poster

will estate agent tell me why flat is back on the market?

13 replies

ChubbyPolecat · 16/03/2016 08:14

I'm a FTB so sorry if this is a stupid question. I really like the look of a flat on rightmove but on the day I got a higher AIP which put the flat in my budget, it was sold. Asked estate agent to register my interest if it fell through and I spotted it back on the market last night so I'm going to try and view it tonight. Is the estate agent likely to be truthful about why it's back on the market a week and a half after it sold? I'm assuming it was to do with the survey but I've never dealt with estate agents before and I'm not sure i will recognise it if they're fobbing me off

OP posts:

slicedfinger · 16/03/2016 08:17

It might just be that the first people couldn't actually get the mortgage they hoped. Ask! They may tell you a load of nonsense, but they may be honest. I'd doubt it is a survey problem that quickly.

Pancakeflipper · 16/03/2016 08:17

They will give a reason, whether it is the truth depends on the estate agent and the real reason.

But obviously get a full survey (or see if you can buy the very recent one from the previous buyer).

It's not easy, some estate agents are brilliant. Some not so.

origamiwarrior · 16/03/2016 08:40

It's not likely to be the survey - surveys usually happen a month or so into the process.

Probably someone changed their mind, or saw a flat they liked better or realised they couldn't afford it after all. Definitely ask though!

Original poster

ChubbyPolecat · 16/03/2016 08:45

That makes me feel more positive thank you! I really like the flat but it's a little bit quirky (shower room is in an odd place) and I think it's a bit over priced. I wasn't sure when the survey would be done. I would definitely get a home buyers survey done though

OP posts:

LizzieMacQueen · 16/03/2016 09:35

Asked estate agent to register my interest

It would be really interesting to see if they did get in touch with you (but I can understand why you might not leave that to chance).

Original poster

ChubbyPolecat · 16/03/2016 10:13

No well I rang them and they didn't acknowledge that I'd asked about this one before so I don't know if they would have bothered or not. I would have liked to wait and see but like you say didn't want to leave it to chance!

OP posts:

rioblue · 16/03/2016 15:06

Agree with pp's that it would unlikely be the survey in that space of time. People change their minds all the time - including sellers. Definitely ask the EA the question but take the answer with a pinch of salt. Good luck!

OurBlanche · 16/03/2016 15:27

Ask them, you never know.

Is the price the same? Ask them directly if there was anything wrong with the property that made the previous sale fall through. Write down their answer as they say it... they have to be honest with you and a quick flash of pen and paper often reminds them

summeriscoming · 16/03/2016 16:18

The will give you a reason but there is a big chance it won't be true. They will not say anything that might jeopardise a potential new sale.
The same thing happened to us - I asked a couple of agents from the office and one said that the buyer's mortgage wasn't approved. The other one (I had a the feeling he was new to the game and actually told the truth) - that there was too much wrong in the survey and the buyer pulled out.

Original poster

ChubbyPolecat · 16/03/2016 19:52

The price is the same. I'm booked in to view on Friday, couldn't get in any sooner so I will ask and see what they say then about why it's fallen through. I'd rather view with the other agents it's on with (they're much more proactive and helpful) but they won't know why it's back on. ..they didn't even know it was sold until I told them

OP posts:

kirinm · 16/03/2016 23:12

Where are you based? In London I've seen a few places back on the market as a result of people pulling out when properties are down valued. There's one particular house that has sold and come back into the market several times and the EA was honest enough to say there is a damp problem and other issues being picked up on the survey.

OurBlanche · 17/03/2016 16:23

They really should tell you... they gave nothing to lose as anything found at survey will cause more problems if unexpected. If they tell you you can consider it more... at least, that is how our last agent explained the issues with one house we looked at.

We gave them feedback which they passed to the owners, we know they did as we now know the (ex)owners and they said they were glad to get some proper info,

JT05 · 17/03/2016 16:33

We had to put our house back on the market after 2 months of SSC , despite the survey and valuation being fine. The buyers had their mortgage offer pulled due to their financial situation.

Didn't look good, but we got another buyer straight away and made us very wary that their financial situation stacked up.

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