Estate Agents/Developers disclosing offers

Jono8 · 4 Feb 2014 at 12:00

Quick question.

Does a seller of a property (estate agent or developer) have to disclose the amounts they have been offered on a property?

booyaka · 4 Feb 2014 at 12:38

Jono8 said:
Quick question.

Does a seller of a property (estate agent or developer) have to disclose the amounts they have been offered on a property?

nope. why should they?

Jono8 · 4 Feb 2014 at 13:00

booyaka said:
nope. why should they?

I thought I read somewhere that by law they had to. That may have only been that they have to say if there has been offer or offers and not to do with the exact amount offered.

Adam · 4 Feb 2014 at 13:03

No, it's a huge game being played with the agent at the middle of it. The sooner fixed price online estate agents become more mainstream the better.

Burned_Alive · 4 Feb 2014 at 13:34

Jono8 said:
I thought I read somewhere that by law they had to. That may have only been that they have to say if there has been offer or offers and not to do with the exact amount offered.

You may be mistaking that estate agents must pass on all offers they receive to the seller. The seller is in no way obliged to disclose anything about offers they have received, be it the presence of an offer or the value of any offer.

Jono8 · 4 Feb 2014 at 16:46

Burned_Alive said:
You may be mistaking that estate agents must pass on all offers they receive to the seller. The seller is in no way obliged to disclose anything about offers they have received, be it the presence of an offer or the value of any offer.

Thanks. That is what i thought but on one forum someone said they have to disclose if they have had an offer and how much it was e.t.c. They were obviously talking out of their bottom.

Dolph · 4 Feb 2014 at 18:58

The only exception is where the house is being sold by an agent on behalf of someone following repossession, then they are obliged to publish a notice of offer and allow others an opportunity to beat it.