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Making an offer on a house that's sale agreed

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  • 12-04-2012 7:56pm
    #1
    Dr. Dodger
    Registered Users Posts: 381 ✭✭


    We've been looking at a house and noticed the other day that it went sale agreed. We knew there was an offer in but had been told it was too low.

    I contacted the EA and told him we had been considering making an offer but had noticed it had just gone sale agreed, he basically didn't offer anything and just said its sale agreed and there's plenty of other houses.

    Surely it is his job to get rte highest price possible for his client, and as much as we don't want to get into a bidding war, we would've liked the opportunity at least to see what we would have had to offer for the house.

    Is this usual practice or is he just being a lazy git who probably wouldn't gain a lot more in commission with the extra work?

    Any thoughts?
    Thanks


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    #2
    Bigcheeze
    Closed Accounts Posts: 2,858 ✭✭✭Bigcheeze


    If it's sale agreed, just move on. The buyers have paid a booking deposit and he's not going to reopen the bidding.

    You should have told him to keep you updated on the house.

    Do you have a property to sell yourself ? He may just have wanted to sell to a cash buyer. I've seen houses go to lower bidders who were not in a chain.

    Most people who view properties are "tyre kickers" and have no intention of buying a house.


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    #3
    P. Breathnach
    Registered Users Posts: 12,089 ✭✭✭✭P. Breathnach


    Dr. Dodger wrote: »
    ...
    Any thoughts?
    You didn't actually make an offer. You missed your chance.

    As the EA said, there are plenty of other houses, so get looking.


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    #4
    ted1
    Registered Users Posts: 23,520 ✭✭✭✭ted1


    Forget about it and move on. Don't be that guy.


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    #5
    Doop
    Registered Users Posts: 1,470 ✭✭✭Doop


    Its called Gazumping and while not illegal it is definatly considered underhanded. The agent is harly going to ring every person who may have viewed the property over the past 'x' number of months.


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    #6
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    AT some point the seller acccepts an offer ,deposit is paid, the solicitors move forward on the transaction,thats how the market works.THE buyer maybe a cash buyer,ie not using a mortgage to buy the house ,which makes the transaction simpler. AS Prices go down there are more cash buyers.A seller wants to sell in a reasonable time,in a falling market ,it makes sense, ill sell if i get offered x, ie theres no gaurantee he,ll get a higher offer .
    Even estate agents have standards and procedures they have to follow.Even if the agent
    thinks he might get a better offer, its the sellers right to accept the offer.
    as posted above a cash buyer has the advantage in some cases.


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    #7
    RH149
    Registered Users Posts: 349 ✭✭RH149


    The sale is 'Agreed' - ie the seller has agreed to accept someone else's offer. Any estate agent who would try to break that deal would be extremely unethical. The time to offer more money is when the For Sale sign is still up!


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    #8
    Sala
    Registered Users Posts: 1,494 ✭✭✭Sala


    Move on. Regardless of being unethical, if an agent broke the deal and then the new higher offer fell through it would piss off everybody and cause a lot of delay. And they risk the original buyer not wanting to come back after they were gazumped.
    My friend was in teh same position and her house came back on the markert s there is still hope!


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    #9
    Kosseegan
    Banned (with Prison Access) Posts: 987 ✭✭✭Kosseegan


    If you actually made an offer the agent would be obliged to pass it on to the owner. he is not obliged to continue tryingh to market the property having accepted a booking deposit. Agents have to advise owners of actual offers but will normally not advise a change horses without good reason.


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    #10
    Dr. Dodger
    Registered Users Posts: 381 ✭✭Dr. Dodger


    Thanks for the feedback everyone. Fact is we weren't in a position to make an offer at the time and unfortunately now it's just too late. It's a pity but we're continuing our search.

    Appreciate all the replies.


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    #11
    P. Breathnach
    Registered Users Posts: 12,089 ✭✭✭✭P. Breathnach


    Dr. Dodger wrote: »
    Thanks for the feedback everyone. Fact is we weren't in a position to make an offer at the time and unfortunately now it's just too late. It's a pity but we're continuing our search.

    Appreciate all the replies.
    Good luck with the hunt.

    It's worth telling an EA if you are interested in making an offer, but that you might need a few days to put things together.


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