Associate
I have a family member in what I'm finding is an odd situation when buying a property. Although, I have not bought anywhere for over 20 years.
A property went on the market on Monday and they were the first to view it. They immediately put an offer in at asking price. The estate agent agreed to stop all viewings and the family member submitted the affordability paperwork that was requested and the evidence of their mortgage offer to demonstrate they can move quickly with the purchase.
By Wednesday the estate agent called and said they have other offers and what's the highest they would pay and to submit another offer above the asking price and a decision would be made.
This to me is very poor practice from the estate agent.
My question is to OC'ers Is this usual practice nowadays and is there anything can be done?
A property went on the market on Monday and they were the first to view it. They immediately put an offer in at asking price. The estate agent agreed to stop all viewings and the family member submitted the affordability paperwork that was requested and the evidence of their mortgage offer to demonstrate they can move quickly with the purchase.
By Wednesday the estate agent called and said they have other offers and what's the highest they would pay and to submit another offer above the asking price and a decision would be made.
This to me is very poor practice from the estate agent.
My question is to OC'ers Is this usual practice nowadays and is there anything can be done?