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I have just offered the asking price for a property and stated that I would pay it providing it is taken off sale... yet the estate agent is not passing this information on to the seller! He said he will note the offer with his staff but isn't going to contact the seller about it? Why not and what is he playing at?

2007-01-05 01:51:44 · 9 answers · asked by pete 2 in Business & Finance Renting & Real Estate

9 answers

YOur contigency is weird, they are usually not off the market until they are closed.

He has to make the offer, even if it is a weird one though.

Contact his broker.

2007-01-05 02:47:54 · answer #1 · answered by Anonymous · 0 1

A real estate agent is required by law to present all offers to seller even if a seller has asked otherwise. When an offer is seller accepted a property goes sale pending and is not shown as currently available. This takes the property sort of off the market but does allow for back up offers to come in. A main reason for the earnest deposit other than making the offer legally binding is that it is also the sellers liquidated damages for going off the market to entertain your offer. Should you fail to close under grounds not stipulated in your safe harbor clauses the seller gets the earnest money. I would take a copy of the offer to the seller and inform him that the agent has held the original and wont present it. While it is very unethical and illegal it isnt entirely uncommon for some agents to stall an offer to shop it with another agent. For that reason alone, I as an agent always inform a seller that I have an offer to present when representing a buyer. As a listing agent I take all offers faxed to me and present them immediately but ask the other agent first if they would like to present their offer or speak up for their buyer that same day. It is agents like the one representing your seller that make many think so badly of a once professional, service oriented industry.

2007-01-05 03:58:12 · answer #2 · answered by Kevin H 4 · 0 0

The agent is oblied by law to pass the offer to the Vendor (Estate Agency Act 1979) whatever the offer is.

He is not obliged to take the property off the market although most will do unless you are not fully proceedable.

But if you insist he puts the offer forward, he has to. If he doesn't, contact the local Trading Standards Office.

Good Luck

2007-01-05 02:44:09 · answer #3 · answered by voodoobluesman 5 · 0 0

If you do not have a contract to work with this agent and you did not put the offer in writing (an Agreement of Sale - AOS), go to another agent. If you did put put in an AOS, check to see what your response date is according to the contract. If you do not get a response by this date (in writing), then go directly to the agent's manager.
Unfortunately some agents out there do not follow the rules and he might just be waiting to see if there is another offer on the property.

2007-01-05 02:11:21 · answer #4 · answered by c21bucks 2 · 0 1

there is no such component as a "accepted furnish". To "carry" an appraiser with you is amazingly unusual, yet in case you insist, they are going to fee you about $350 and likely you seriously is unable to apply that appraisal, because the banks employ their own to dodge mortgage fraud, so as which potential you should pay for yet another appraisal. do not ignore that each sources is unique, and merely because a house is smaller, or has one a lot less bedroom, would not inevitably recommend that it truly is going to bypass for far less money. what's the overall challenge? Does it have hardwood flooring? Is the landscaping and scale back attraction extra appropriate to the different comparables? Is the lot extra appropriate? Is the lot larger? Is the challenge sources on a extra effective street? All of those issues may reason a topic sources to be nicely worth as a lot as ten% more suitable than a similar. also, do not ignore that houses for sale are literally not used for comparables...really closed transactions...each person can record a sources for something that they prefer...does not mean that it's going to promote for that. once you get a Realtor, they are going to clarify this to you in extra ingredient. playstation : Fren is inaccurate that appraisers are merely actual sources brokers specializing in value determinations. In NO STATE, are appraisers required to have a actual sources license, and really maximum folk of them do not. They record to a thoroughly diverse fee for regulation, bypass by a diverse licensing procedure, etc.

2016-12-01 20:58:28 · answer #5 · answered by barnas 4 · 0 0

Yep, sounds like he's hoping someone will offer more and thus increase his commission.
Do you know who the seller/owner is? If so, contact them and tell them you want to buy.
I'd be really angry if I had a buyer interested in my property and the estate agent was holding back.

2007-01-05 02:04:15 · answer #6 · answered by Anonymous · 0 1

The estate agent is obligated by law to record it in writing and pass it on in writing to the seller!! Phone him up again and say you want to make an 'exclusive offer' (use those words)

If he doesn't agree ask to speak to his manager

2007-01-05 01:56:03 · answer #7 · answered by Robin the Electrocuted 5 · 1 0

Look into contacting his management perhaps you can work with someone else in the same office. He sounds like a jerk.

2007-01-05 01:55:44 · answer #8 · answered by Radtech1996 4 · 0 0

Contact to your bank/building society ASAP

2007-01-05 08:39:04 · answer #9 · answered by king_of_chuadanga 1 · 0 0

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