Estate agent frustrations!

yak.h'cir

yak.h'cir

yak.h'cir

Soldato
Joined
26 Aug 2003
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4,517
Location
The North
Apologies in advance, I just need to vent really!

We've put an offer on a house which was accepted. It was about £2k under the asking.

We've just had the hom******s survey back and one of the things they've found is that a lintel above the downstairs window has failed and needs to be replaced, too damaged to repair. Luckily no damage to the surrounding wall and no damp either.

So I got an estimate for the work, it was about £2k for the whole job.

My next step was calling the estate agent to ask them to put it to the vendor that we think this discovery is grounds for reducing our offer. In the interests of expediency if we they would accept £1k less we'd be happy to go forward.

I was put on hold and then the estate agent came back to me;
"I've just spoken to your bank and they've told me they're happy with the valuation and agree the house is worth the original asking price so we're not willing to negotiate further on the house price". This is from the estate agent, they won't even put it to the vendor!

I can't believe it! Not only have the bank given out my information to the EA without my permission, but it has no bearing what the bank is willing to lend us. We agreed a price for the house and have since discovered in needs a significant sum spent on it straight away to secure the structure! It is right that they at least facilitate a discussion between the us. She just kept saying that she deals with thousands of surveys and it doesn't matter really. The house is worth x so that's what we should pay. NOOOO! The house is only worth what someone is willing to pay! It was on the market for a while and they've been rushing us the whole time as the vendor is apparently very keen to get the sale pushed through straight away (vendor is a building company that took the house on as a part exchange on a new build of theirs).

GRRRR! I want to go round tomorrow and find the women I spoke to and tell her very loudly so the whole office hears that because of how she dealt with me we will not be dealing with them further and to forget the sale. Then find the vendors details and let them know why they've got to put it back on the market.

I'm having the internal conflict now, I do still want the house. It's a nice house and we can just about afford the repair without the reduction in price. But the way they've just fobbed me off!:mad::mad::mad::mad:
 
Estate Agents are scum. End of.

The survey the bank did would have been minimal. Regardless of whether their survey states the house is valued at what it is has so bearing on your survey or your thoughts on the work that needs doing.

Play hard ball and tell them to put it to the vendor. I had the same problem when we moved into our house and they relented and I ended up knocking £16k off in the end.
 
If the vendor is still living there, go round & see them, explain you still want their house, & about the agent's refusal to pass on your new offer, etc.

Got nothing to lose going direct.
 
Nightglow said:
If the vendor is still living there, go round & see them, explain you still want their house, & about the agent's refusal to pass on your new offer, etc.

Got nothing to lose going direct.
Click to expand...

I'm considering doing that in a roundabout way. The people who live there at the moment aren't the ones who are selling it. They've brought a new build and as part of the deal they part exchanged their current house with the building company who owned the new build.

I'm thinking that whilst the building company will want it to sell quickly they're probably in a better position to hold out for a better offer then a homeowner would be.
 
PapaLazaru said:
Estate Agents are scum. End of.

The survey the bank did would have been minimal. Regardless of whether their survey states the house is valued at what it is has so bearing on your survey or your thoughts on the work that needs doing.

Play hard ball and tell them to put it to the vendor. I had the same problem when we moved into our house and they relented and I ended up knocking £16k off in the end.
Click to expand...

We aren't all the same!
The chances are they didn't speak to your bank just spoke to the mortgage advisor to see if the survey came back ok.

I would put it in writing to them and also speak to your solicitor about the issue. They can put it in writing to the vendors solicitors for you if the agent will not cooperate.
 
yak.h'cir said:
I'm considering doing that in a roundabout way. The people who live there at the moment aren't the ones who are selling it. They've brought a new build and as part of the deal they part exchanged their current house with the building company who owned the new build.

I'm thinking that whilst the building company will want it to sell quickly they're probably in a better position to hold out for a better offer then a homeowner would be.
Click to expand...

Actually the last thing new build companies want is to hold onto part ex stock, they want to shift them ASAP. We part ex'd two years ago and the builder instantly dropped the asking price by £15k and sold it for £25k less than the value they gave us and £29k below the valuation.

In fact you could probably tell them you want it repaired by them and you'll keep your offer the same. They have deals agreed with lots of sub contractors due to volume of work and can probably get it done cheaper than you. I was told they fully redecorated our flat we part ex'd to help sell it.
 
Find the estate agent and threaten her with a blowtorch and a hockey mask, telling her you'll pull off chunks of flesh with pliers if she doesn't cooperate with the sale.

Or walk into the office with a bag of fulminated mercury?
 
Not all agents are bad. I've met hundreds and many are extremely hard working, courteous and professional people.

There is more going on hear than meets the eye. A £1000 reduction is peanuts.

I would simply call and speak to the manager. I believe they have to put your counter offer forward.

Don't do this though if you believe the vendor will tell you to get lost though!
 
yak.h'cir said:
... It's a nice house and we can just about afford the repair without the reduction in price. But the way they've just fobbed me off!:mad::mad::mad::mad:
Click to expand...

This bit of your post is actually a little bit worrying, have you not left any contingency in your budget for unforeseen costs?

What about if the repair work is more than £2k as they find further damage?

As others have mentioned, you need to play hardball really.
 
When are you due to complete?

Can't you insist that the work is done prior to this date? If the seller is a building company I'm sure they'd do the work to ensure the sale goes through at the agreed price. It won't cost them as much, if it is work they can do themselves.

Buying a house is a bit like playing poker. Your EA won't want to lose the sale for the sake of £1k, so that's probably why they're reluctant to push for any change in price. You have to decide how much you're prepared to push for the work to be done, or the price to be reduced - with the risk being that the other side back out.

For the sake of ~1k work, I'd be surprised if the seller wouldn't just get it fixed for you.

Likewise, a 'deal' is never final on a house pretty much right up until you get the keys, so even doing nothing, there's still a risk it might not go through.

It's not an easy decision, but I'd be pushing for it to be fixed prior to the contracts being exchanged.
 
Erm what grounds has the estate agent got to refuse to speak to the vendor???

In your shoes, I would be telling the estate agent that my offer has just been reduced by £2k and that is the end of it, they put this to the vendor or we pull out.
The original offer we made no longer stands in light of the survey results. the offer I made was based on a house in good state of repair, now it needs £2k spending on it to bring it up to a satisfactory state.

I am not really bothered about what someone at the estate agent's opinion is to be quite frank, they are neither selling or buying the house, they are merely a link in the purchase chain (ie they do as they are told, they do not dictate the terms to you)

all she will be worried about IMO is her commision going down.


my 2p
 
Thank you all, lots of thoughts and ideas similar to my own so glad that I'm not alone!

We do have a contingency fund which would just about cover the work that needs doing, if it ended up costing more than that all our credit cards are completely clear so it would probably be a case of putting it on credit then clearing it asap.

That being said I've decided that I'm no longer willing to pay the agreed amount, as DogsBody said that offer was made on the consideration urgent repairs were not needed. Now we know they are we have a new offer with this consideration in mind.

I've already had two messages today from the EA asking if we've made a decision so I know they're keen to get it sold!
 
yak.h'cir said:
Thank you all, lots of thoughts and ideas similar to my own so glad that I'm not alone!

We do have a contingency fund which would just about cover the work that needs doing, if it ended up costing more than that all our credit cards are completely clear so it would probably be a case of putting it on credit then clearing it asap.

That being said I've decided that I'm no longer willing to pay the agreed amount, as DogsBody said that offer was made on the consideration urgent repairs were not needed. Now we know they are we have a new offer with this consideration in mind.

I've already had two messages today from the EA asking if we've made a decision so I know they're keen to get it sold!
Click to expand...

Either that or they have another buyer lined up. :)
 
Not all agents are scum, but these do sound like it.

I thought they had to put offers to the vendor by law, don't give in and stick to your guns and go with the lower offer its perfectly justified.
 
Your bank has nothing to do with agreeing the value of the property apart from 'is it ball park right for my risk'. Tell the agent that you are negotiating not your bank and if they won't speak to the vendor you will pull out. If you're prepared for them to call your bluff that is.
 
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