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Offer Accepted and Then Declined

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  • Offer Accepted and Then Declined

    Hi
    I am a first time buyer and recently put an offer in on a flat.
    I was told that as there was so much interest in the property I would have to make an offer higher than the asking price advertised and that all offers had to be submitted by 4 oclock that day. I really wanted the flat so made an offer over the asking price. After a while the agent came back to me and said that i would have to increase my bid to secure the property which I did by another £6000, the next phonecall I received was the agent congratulating me on having my offer accepted and assured me that the property would be taken of the website and they would accept no further bids. The next day the agent rang me and told me another offer had been submitted much higher than mine and that the vendor had accepted it, when I asked what the offer was he would not tell me and did not give me any option to increase my offer.
    I realise that an offer is not legally binding but is there anything I can do ?
    I would really appreciate any help in this matter
    Many Thanks

  • #2
    Re: Offer Accepted and Then Declined

    Yet another unprofessional agent...it sounds like they were playing you off against another buyer to bump the price up. I'd forget the property if I were you. This was neither sealed bids or transparent offers. Although the agent is under no obligation to tell you the offer it all sounds abit underhand.
    www.ownerhome.co.uk
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    • #3
      Re: Offer Accepted and Then Declined

      Offers are always "subject to contract" and not legally binding unfortunately - meaning there's nothing you can do (aside from complain about the estate agent to the relevant authorities - do an internet search for the Property Ombudsman).

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      • #4
        Re: Offer Accepted and Then Declined

        I don't think a complaint about the agent would achieve anything: the agent is obliged to follow the seller's instructions, after all
        This is based on my experience as a conveyancing solicitor in England, but I do not accept liability for information I give in this forum

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        • #5
          Re: Offer Accepted and Then Declined

          Following instructions shouldn't extend to acting unethically or unprofessionally...

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          • #6
            Re: Offer Accepted and Then Declined

            If the agent is first told by the seller to accept one offer then told by the seller to accept another, he cannot refuse to do so - he is an agent, not a principal. He can argue, cajole, protest, etc, but in the end he must comply with his instructions
            This is based on my experience as a conveyancing solicitor in England, but I do not accept liability for information I give in this forum

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            • #7
              Re: Offer Accepted and Then Declined

              I know the above posts are from a year ago, but I experienced the exact same thing this week. We are first time buyers and made an offer on a house and it was accepted late last week.
              I spent all of Friday confirming a solicitor and mortgage advisor etc and sent the details to the estate agent this week only for him to reply and say that the higher offer was accepted by the vendor. I appreciate that the offer we made is not legally binding but I don't appreciate the estate agent not telling me on the day my offer was accepted that the house would remain open for viewings. If it was then we could at least have continued to look at other options in case we lost it. The other 2 houses we liked were sold this week! I feel very cheated! DO NOT USE EQUITY ESTATE AGENTS IN ENFIELD TO BUY A PROPERTY!

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              • #8
                Re: Offer Accepted and Then Declined

                Originally posted by LittleStar View Post
                I don't appreciate the estate agent not telling me on the day my offer was accepted that the house would remain open for viewings. If it was then we could at least have continued to look at other options in case we lost it. The other 2 houses we liked were sold this week! I feel very cheated! DO NOT USE EQUITY ESTATE AGENTS IN ENFIELD TO BUY A PROPERTY!
                That might not have been the case. The other buyer may well have viewed the house before you put your offer in.

                Besides, most sellers won't take their house off the market until the buyer has made some kind of commitment i.e. paying for the mortgage valuation or a set amount up front to the solicitor etc.

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                • #9
                  Re: Offer Accepted and Then Declined

                  Kaz is right. I realise that this has been a very upsetting experience for you as a first time buyer, LittleStar, but the estate agent hasn't done anything wrong. If anyone has, it's the vendor for accepting your offer first and then accepting a second, higher offer. It's this kind of behaviour that makes buying a house so stressful. It might be hard to look on the bright side at the moment because you are so angry, but think of it this way...better to find out now that the vendor is ready to go back on his or her word rather than finding out several weeks down the line when you have already shelled out on the survey or mortgage valuation and incurred at least the initial solicitor's fees.

                  There are decent vendors - and buyers (because some buyers also go back on their word) - out there. Hopefully, your next offer to buy will be more successful.

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                  • #10
                    Re: Offer Accepted and Then Declined

                    I don't agree with some of these posts that the estate agent did nothing wrong. Surely the offers have to made through the estate agent, so once an offer has been accepted by the seller and they've passed that info on to the buyer, they shouldn't pass on any further offers to the seller? It should be made clear that once an offer has been accepted, that's that and no further offers will be considered or passed on.

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                    • #11
                      Re: Offer Accepted and Then Declined

                      I am afraid that if an EA acted in this way, they would be breaking the law. An EA is legally bound to pass on all offers to the vendor, even after an offer has been accepted, unless of course the vendor has given the EA clear written instructions not to do so. I am not an estate agent but I suspect that EAs sometimes tear their hair out trying to get vendors to act honourably. In Littlestar's case, the vendor made the decision to gazump, not the EA. Hope this explains.

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