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Offer price rejected!

Hi. We have put an offer in on a property as less than the asking price as the financial advisor in the estate agents told us we were in the best position to proceed. He told us, if a higher offer was made we would be contacted to see if we wanted to increase our offer. We have had a call today to say an offer of the asking price has been made and accepted & the sale is proceeding! This was our dream home and we are gutted. I/we thought they would get back to & say - a higher offer has been made would you like to increase yours as promised. In the call today the estate agent said they had already instructed the solicitors & when we viewed the house at the weekend they said if a client accepted an offer they would try & put off a client from switching to new buyers because of an increased offer, so therefore we now thinking our increased offer today won't be accepted anyway?? Please advise before I ring them tomorrow. Many Thanks

Asked on Mar 7 2011, House Prices in Warrington | Report content

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  • Any offer that you put forward to the estate agent must be put forward to the vendor by law. You are well within your rights to increase your offer for the vendor to consider. Whether it will be accepted or not is another matter.

    Answered on Mar 8 2011, Report content
  • The Estate Agents are legal bound to put all offers forward verbally and in Writing under the Estate Agents Act of 1974 within 48 Hours (copy of the letter you should be sent to you as well). If you offer more than the asking price and you are in a good position to buy E.G you have no property to sell and a good deposit and Mortgage arranged then I would be hard pushed to know why the sellers would not accept your offer. I would also when you put your offer forward tell the agent you are prepared to instruct the solicitors already on the sale so as not to hold things up. So even if the buyer has paid for the searches you can take the file over so the previous buyer does not have any costs lost to them. Good luck and let me know what happens.

    Answered on Mar 9 2011, Report content

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