Must our estate agents tell us of an offer.....

[clam]

even if we have already accepted another recently? We found out through the grapevine that some other potential buyers were very interested and had phoned the agents to put in an offer and been told it had been sold. Obviously it had, and we had made it clear to the agent that we were not into gazzumping, BUT, should they not have informed us anyway, as a courtesy? Or does that rule only apply up to the point of an offer being accepted? It is very much in the agent's interest for us to complete this chain, as all parties are selling through them.

But if you had already accepted an offer and weren't interested in gazzumping what is the problem?

It's the principle, I suppose. And because we had a problem once before with this same agent who concealed an offer just as we accepted another, thinking there was no-one else on the scene. And whilst we disapprove of gazzumping in general terms, if a cash buyer were to come along offering asking price or above, we'd at least have to think about it. Unlikely scenario, I admit, but was just wondering at what point the agent's duty to disclose offers ceased. We heard about this other potential buyer just 2 days after accepting a not-particularly-good offer, so those buyers would not have spent any money on the process at that point.

I think they are obliged to inform you of any other offer, even if they have stopped actively marketing.

Although, technically, the agent may have stopped them from actually articulating an amount by saying "it's sold"

If the potential buyers were told by the agent that the property was sold, did they actually make an offer? If they did, I believe the agents should tell you (we would in our agency anyway). You weren't "actively marketing" after you accepted the offer, but presumably these second potential buyers actually saw your property before you accepted an offer.

Could you ring the agents and ask them outright?

Well, I'm not sure if it's really worth rocking the boat at this point. We're 2 or 3 weeks down the line now, with surveys done etc.. so it really would be awful to pull out at this point. It just annoys me to think that the agent might be concealing something (as they did before), thinking we'd never find out about it. It's only because these other possibles were friends of friends that we heard about it.

This is my late MIL's house, by the way. No further purchase on our part is dependent upon it.

Crikey Clam - I've just posted today on another thread about putting an offer on a house and suspecitng the agent not forwarding it to the seller.
We're in no chain, have put an offer in for 5k below the asking price, the house has been on the market for 5 months with one buyer dropping out - the agent said they are very keen to sell with it being empty, have phoned so many times today to see whats happening and they keep changing the story 'We've phoned/he will want to think about it/we are going to phone'. I thought everyone had a mobile and if it was me selling I would be asking them to phone the minute they had an offer in. I suspect foul play but have no proof. Also don't want to rock boat as need
the agent on our side.

Alltogether now.......ARGGGHHHHHH!!!!!

The law says estate agents have to tell you about all offers. But sadly there are plenty of sharp operators out there who ignore their legal obligations.

my thread here
You're not alone - how do they get away with it?????

I saw your thread, Barking, which is what reminded me I could ask on here for the answer. Didn't like to hi-jack your thread!

Well, we agreed within the family that if the current buyers started getty shirty after the survey, we would bring it up with the agent then. But they haven't (yet) so it's all still on track. We're working on the principle that if we were happy(ish) with the offer then, then what's changed? Who knows what this other chain would have been like. And you can't live your life on 'what-ifs.'

Agree with justjules. They should have contacted you to let you know of the subsequent offer and then gone through all the pro's and con's of sticking with current buyers and not dumping them for new more attractive buyers if that is the case. Keep your eye on them and maybe mention it to the agents at the appropriate time if you are 100% sure of your source.

Yeah, but think they might wriggle out of it by saying they didn't actually make an offer, (because they weren't allowed to get that far!). That's why I was asking..... at what point doe shte requirement to disclose stop?

They only have to tell you if someone makes an offer of an amount - not if someone is interested. It sounds as if your agents are behaving really ethically - might be good to mention it to them to keep them on their toes and say that you are keen on quick sale and if current buyers start mucking you about, you will certainly want these people as back up.