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Offer accepted on house but... Please tell me if this is dodgy?

52 replies

daniellaella · 09/03/2022 15:56

Hi, we offered on a house back in Dec. After putting in an offer, at asking price, and speaking at the estate agent's request to their mortgage advisors, to confirm we could borrow the amount required, which was confirmed, we heard nothing. Eventually, I contacted the estate agent, who told me that they'd discovered that the 'vendor' didn't actually own the property as he had sold the house, together with the next door house and plot of land behind, to a developer. Confused

Then in Jan, the same house came on with a different estate agent. By the time I spotted it, they said it had already gone under offer with another buyer. They said the first estate agent was lying, and the vendor had owned it for years. The house disappeared very quickly from Rightmove.

Then last week, I was contacted by the first estate agent. They said the house had been sold and the person selling it was now the legal owner. They said the second estate agent was lying. Confused

They said it was not yet back on the market but they were coming first to us and the other interested buyer, with the property at the same asking price as before - were we still interested? We said yes. They then said the owner was looking for 15K more and it would be going to best and final offers. We offered 15K more. They said our offer was accepted and put this in writing.

Today, I see the property has been relisted on Rightmove at 10K more! I called up and asked WTF was going on! The estate agent's claimed it has been on Rightmove for a week, which I'm pretty sure is not the case. Also claimed the reason it's on for more than we offered is if it was on for less, than any surveyor would downvalue it. They've also said they can't remove it from sale until they have our solicitor details (we're FTBs and so don't have a solicitor we've used before, plus given the dodgy history with this house, we want to make sure we are using a good solicitor; so we haven't provided these yet).

In addition, they've just sprung it on us, we must complete within 28 days! Which seems unlikely to be feasible for a straightforward purchase, which this one isn't. We're not cash buyers and doubt we could get a mortgage that quick if we wanted to - and they never mentioned this previously.

We are in a good position to buy, with no chain and mortgage agreed in principle. So unless they have a cash buyer waiting, don't think their 28 days is likely to happen. But now unsure what else buyer may spring on us - thought we'd agreed a price and no reference to completion date, now it appears they are still marketing the house and want more money and are now suddenly demanding an unachievable completion date. The estate agent also (coincidentally?) sent me details this morning of another property they have for sale, even though they are supposed to be selling us this one!

Any thoughts? Rereading this, it looks like they clearly don't want to sell this property to us. Or is it normal behaviour for vendors?

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BasiliskStare · 09/03/2022 16:02

@daniellaella - No I don't think it is normal - If it were me I would put your best and final offer on the table but I would say if you have to arrange a mortgage - you cannot commit to 28 days but want it taken off the market - If they won't agree to that then I'd be wary.

If they don't agree , sadly I would walk away. I walked away from one property once many years ago & i really thought I wanted it . As it turns out - I dodged a bullet .

I wish you well Flowers

Byefornow · 09/03/2022 16:06

Weird and/or dodgy. I would walk away now personally.

mindutopia · 09/03/2022 16:07

This all sounds pretty dodgy to me. I'd let this one go.

I suspect they are looking to sell to developers (or run some scam). You will not be able to complete in 28 days unless it already has a legal pack put together and all searches run, etc. and even then that would be pushing it if you need a mortgage. We had a property we wanted to buy (for development). We put in an offer on Thursday, they came back to us on Friday afternoon and said the vendor would accept our offer if we would exchange on Monday as they wanted to complete within the month. We laughed and said no thanks.

ThatPosterIsSoRight · 09/03/2022 16:10

No. I’d stay clear of the house and the estate agents (the latter if possible). They will continue to much you around every step of the way.

titchy · 09/03/2022 16:10

Withdraw your offer and don't buy anything through either estate agent - they're both dodgy as fuck.

daniellaella · 09/03/2022 16:12

Thanks! Blunt but to the point :)

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Fernandina · 09/03/2022 16:12

Seems to me like the agents are both trying to pull a fast one here, and that the property probably has been bought and sold at least once, most likely to a local property developer or landlord who just so happens to be good friends with the estate agent, and they are all giving one another backhanders.

Unless you are really desperate for this house, I wouldn't touch it with a bargepole.

Candleabra · 09/03/2022 16:17

Definitely dodgy. I wouldn’t touch this house with a barge pole.

Thewindwhispers · 09/03/2022 16:18

That isn’t normal. But I don’t understand what they are up to.

If you go ahead, do NOT use anyone (mortgage advistor, solicitor etc) recommended by the estate agents.

It is usual to take the property off the market when the offer is accepted and it is notnusual to demand completion within 28 days. Neither of those alone is a red flag but taken together with the other stuff, it is all rather strange and I wonder what on earth they are up to.

Thenlast property I saw that was this weird (friend tried to buy it), the seller pulled out at the last minute and sold to a company they owned. I think they never intended to sell to my friend and were stringing him along so they could get his surveyor’s valuation for some purpose but I don’t know what.

daniellaella · 09/03/2022 16:20

Thanks :(

All very helpful though.

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Viviennemary · 09/03/2022 16:20

Very dodgy. Wouldn't touch it with a bargepole.

5zeds · 09/03/2022 16:24

That would be a big fat “nope” from me. They don’t inspire confidence why on Earth would you enter into any dealing with them worth many times your annual income? Phone them up and withdraw.

SatinHeart · 09/03/2022 16:27

The 28 days thing just sounds like the vendor is buying a new build - it's not that unusual for developers selling new builds to stipulate this. We managed to exchange in 28 days (and complete 2 days later) as first time buyers a few years ago because our vendor was buying a new build. But the market was quieter then and searches etc weren't taking very long.

But the whole rest of your story sounds dodgy as fuck - it's either an extremely flaky vendor, a scam or seriously useless EAs so probably best to just walk away now.

NameChangeCity123 · 09/03/2022 16:33

@Byefornow

Weird and/or dodgy. I would walk away now personally.
Absolutely agree
daniellaella · 09/03/2022 16:34

I think the person selling is a developer - they've bought this house, the one one next door and the land at the back which is being built on as well.

I assumed the 28 days was because they wanted/needed the money quickly. But why I don't know.

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Nickwinkle · 09/03/2022 16:45

This sounds like a scam. Run.

I saw something similar on a policing programme before. Essentially, a guy went on holiday and came home to find his house had been sold. Somehow it was all completely legal and he had to fight to try and take it back. Not sure how it ended but not a situation you want to get yourself in to.

This screams red flags.

Barkingmadhouse · 09/03/2022 16:46

Run! Don't spend your money on solicitors and searches etc when it is already raining alarm bells. When something seems this off already, I would be very surprised of something major didn't crop up later donw the line (at which point you will have spent irrecoverable money)

PartyPlan · 09/03/2022 16:53

No, this immediately gives bad vibes. This is the biggest purchase you’ll ever make, don’t do it!

OhThatChicken · 09/03/2022 16:56

Run. Whatever is going on here is dodgy.

Find another house, preferably with neither agent.

mrsbitaly · 09/03/2022 16:58

I would avoid and go back and say you don't feel they are serious sellers due to the house being put up on and off by different agents the price increase and the ridiculous timescale to adhere to.

Imagine how difficult they are being already and the process hasn't even started yet! I think it would be stressful and they seem to flaky to rely on a straight forward sale

Wonnle · 09/03/2022 17:04

How the hell can you complete in 21 days ? That's only 15 working days to get everything checked out .

Walk away from it .

WhatAWasteOfOranges · 09/03/2022 17:12

Have you looked on land registry who the house actually belongs to and any information about recent sales? And are these big estate agents that have a HQ? If so, would be contacting them for clarity.

SirGawain · 09/03/2022 17:32

More red flags than a Communist Party meeting!!

LM20 · 09/03/2022 17:40

I’m an EA - sounds like the property is now a corporate sale; ask if your accepted offer will be subject to a public notice and this will confirm if it is a corporate sale.

daniellaella · 09/03/2022 17:48

@LM20

I’m an EA - sounds like the property is now a corporate sale; ask if your accepted offer will be subject to a public notice and this will confirm if it is a corporate sale.
Thanks - what does it mean if it is a corporate sale?
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