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Estate Agents Sale fell through.

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  • 13-09-2017 7:36pm
    #1
    Heart Break Kid
    Registered Users Posts: 834 ✭✭✭


    Hi

    We had a property with sale price agreed. Booking deposit pad. Survey done. We revised offer down slightly based on survey and rough costing and issues with the area. Eastate Agent(EA)refused (No other bidders +2nd time the sale as failed), we considered it a dealbreaker, further or interest was waning due to the area.

    The EA however manages a number of properties in the areas we're looking at. Has anyone had experience of EAs refusing to accept bids due to prior issues or sales falling through.


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    #2
    The_Honeybadger
    Registered Users Posts: 4,187 ✭✭✭The_Honeybadger


    Heart Break Kid wrote: »
    Hi

    We had a property with sale price agreed. Booking deposit pad. Survey done. We revised offer down slightly based on survey and rough costing and issues with the area. Eastate Agent(EA)refused (No other bidders +2nd time the sale as failed), we considered it a dealbreaker, further or interest was waning due to the area.

    The EA however manages a number of properties in the areas we're looking at. Has anyone had experience of EAs refusing to accept bids due to prior issues or sales falling through.

    Surely it's up to the vendor to make that call rather than the EA? Did he pass on your proposal to the vendor?


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    #3
    Heart Break Kid
    Registered Users Posts: 834 ✭✭✭Heart Break Kid


    mickeyk wrote: »
    Surely it's up to the vendor to make that call rather than the EA? Did he pass on your proposal to the vendor?

    To be fair, i would assume so. Any bid we make, we request it to be put forward for consideration.


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    #4
    bleary
    Registered Users Posts: 495 ✭✭bleary


    To be honest I think the estate agent will probably present any offers you make with reservation. It's up to the vendor but it would be hard to recommend it.
    The area couldn't change that much from the time you made your bid in the first place so why would that revise your bid? If you went cold then withdraw but dropping your offer seems opportunistic.
    I've seen before posters saying that they expect to get a discount after the survey. I'd be fuming with someone doing that unless there was a good reason. In the market today it would want to be very strong reasons for pulling out.


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


    I've experienced this. Selling a property a few years ago, the EA told me that there were a number of interested bidders but the highest one was from a guy who had previously pulled out after going sale agreed and in the EAs view was a bit of a messer. There wasn't much in the bids so I accepted the next highest bid and sold the property to them.


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    #6
    Wesser
    Registered Users Posts: 1,813 ✭✭✭Wesser


    I pulled out after going sale agreed ( personal reasons) last year.

    EA sent me a personal email me a few weeks later to advise me of a similar property that had come up.


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    #7
    Heart Break Kid
    Registered Users Posts: 834 ✭✭✭Heart Break Kid


    bleary wrote: »
    The area couldn't change that much from the time you made your bid in the first place so why would that revise your bid? If you went cold then withdraw but dropping your offer seems opportunistic.

    Opportunistic? i supposes it may come off as that but no more than some EAs. Further still the highest bid after 60 days, so ours was still relatively strong vs the market. Do EAs even negotiate any more? The first answer always seems to be a no and then backpeddle.Some fair points overall though.


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    #8
    LirW
    Registered Users Posts: 4,825 ✭✭✭LirW


    It's not the EA that decides, it's the vendor. The EA is only the man in the middle that works for the vendor. It's not on him negotiating about the price. Maybe the vendor can't sell under a certain amount.


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    #9
    Paddytheman
    Registered Users Posts: 271 ✭✭Paddytheman


    Is this in North County Dublin by any chance?


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    #10
    Heart Break Kid
    Registered Users Posts: 834 ✭✭✭Heart Break Kid


    Paddytheman wrote: »
    Is this in North County Dublin by any chance?

    Eh, no but woudn't matter if it was. You selling? I'm buying..


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    #11
    Paddytheman
    Registered Users Posts: 271 ✭✭Paddytheman


    Haha no, am in the same situation, what you described above sounded uncannily like the situation we are in... best of luck!


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    #12
    sydthebeat
    Subscribers Posts: 41,605 ✭✭✭✭sydthebeat


    Think about it.... A difference of €10,000 in the sale price may only work out as about €200 to the EA... And any difference is void if it's a fixed fee engagement.

    The EA makes money by selling and moving into the next job... So if your offer was refused you can take it that was the vendors decision, and the EA won't hold anything against you for altering your bid after the survey.


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    #13
    Skyrimaddict
    Registered Users Posts: 813 ✭✭✭Skyrimaddict


    In general they wont as if they can make any money off you at all they will.

    it is also not un-common for a survey to kick up issues which were not apparent in initial viewing, not every house buyer is an engineer, and as such the value to you of the house might drop in line with work needed.


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