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Are estate agents obligated to bring all offers to vendor?

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  • 20-01-2015 11:16pm
    #1
    mSe265
    Registered Users Posts: 43 ✭


    I recently made an offer on a house, and was told immediately that it wasn't worth bringing to the vendor because it was too low. I really like the house and I had done my research on properties sold/for sale in the area and felt pretty good about the offer, so it was a serious offer. I anticipated maybe the vendor wanting to negotiate, but not that the vendor wouldn't even hear my bid. For now I suppose I will keep looking, but it has made me wonder if agents are obligated to inform their sellers of all bids or not?


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    #2
    Bigus
    Registered Users Posts: 4,942 ✭✭✭Bigus


    It might be no harm to submit it in writing , for the record.


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    #3
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,505 Mod ✭✭✭✭johnnyskeleton


    An estate agent acts for the vendor and is not impartial. So they can do whatever their client tells them to. If the client says "i trust you to do what is best" and they reasonably think there is a chance of a better offer, then they are not obliged to pass on the offer.

    My advice in any event is to forget it. Its simply not worth bidding against yourself


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    #4
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,505 Mod ✭✭✭✭johnnyskeleton


    Bigus wrote: »
    It might be no harm to submit it in writing , for the record.

    Make sure you clearly state state "Subject to contract / contract denied" on any such offer or you could end up in a binding contract.


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    #5
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    mSe265 wrote: »
    I recently made an offer on a house, and was told immediately that it wasn't worth bringing to the vendor because it was too low. I really like the house and I had done my research on properties sold/for sale in the area and felt pretty good about the offer, so it was a serious offer. I anticipated maybe the vendor wanting to negotiate, but not that the vendor wouldn't even hear my bid. For now I suppose I will keep looking, but it has made me wonder if agents are obligated to inform their sellers of all bids or not?

    Last time I sold a property I told the EA not to waste my time contacting me with offers below a certain price, property prices are on the rise so offering way below the asking price is probably not going to cut the muster any more.what you think is a "fair price" may be well below what the vendor thinks is a realistic offer.


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    #6
    mSe265
    Registered Users Posts: 43 ✭mSe265


    johnnyskeleton wrote: »

    My advice in any event is to forget it. Its simply not worth bidding against yourself

    Thanks, I feel the same about bidding against myself tbh, even though I really do like the house.


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    #7
    the_syco
    Registered Users Posts: 37,301 ✭✭✭✭the_syco


    mSe265 wrote: »
    Thanks, I feel the same about bidding against myself tbh, even though I really do like the house.
    Also consider that someone with a connection to the EA has asked for the house cheaply.

    I be surprised if EA's haven't sold house to builders cheaply so that the EA would get a free extension.


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    #8
    BeatNikDub
    Closed Accounts Posts: 603 ✭✭✭BeatNikDub


    Yes they are obliged to pass on every offer however their client may have been very clear with them as to what figure they will start considering. If you are way below this this the EA may have been trying to let you know that it would not be considered so as not to waste you or anyone's time. I have seen vendors hold out for even a couple of years till they reach the figure they have in mind!


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