Are these ethical sales tactics?

Hi David,

I have no idea what happened here other than the fact you were obviously not told everything and what you do know may not be correct!

Price offered is one of the biggest factors vendors consider, but also things like speed and security the sale will go through eg. Cash buyers etc.

The only thing we know for certain is that a Selling Agent acts only on behalf and in the interests of their vendor and getting the best price and deal for their seller is the number one job.

I would always walk away if I sniffed being messed around to get a better price and then if it is serious they will always come back to you, but you will have the upper hand.

Reply to the comment left by "Neil Patterson" at "21/09/2016 - 09:34":

Thanks Neil, my feeling is that something very underhand was going on. There was no need for all the secrecy and i am inclined to believe that my bid was not even presented to the seller and that the whole "final and best bidding" was just going through the motions. I just wondered if anyone else had similar experiences.

Hi Onlsow

Have you considered approaching the vendor directly?

Have you considered asking for the agents complaints procedure and which redress scheme they are members of?

If there have been underhand dealings by the agent which the vendor is unaware of this will certainly put the cat amongst the pigeons.
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Absolutely Mark, I would write to the vendor. stating what your offer was - and still is presumably. At least you might get some clarity.

Make your offer conditional of the property coming off the market. If they want to offer it to others, then your offer no longer stands. A partial solution...?

The process was a bit opaque, but not necessarily underhand. I've sold property on a 'final & best' basis, simply to avoid many rounds of tiny increments, & it is often more professional to give a limited timescale for offers, or even a closing date. I've also bought on that basis, & my offer wasn't the highest, but it was the best deal (cash, quick completion etc). It depends on the vendor's criteria. Acceptance *should* be that though - no going back to failed offers to push them higher, so maybe that's why you lost out.

Agents won't always take a property off-market either, in case a deal falls through. It *ought* though to be marked SSTC, and further viewings cancelled.

Reply to the comment left by "Onslow Clough" at "21/09/2016 - 18:14":

You say: "i am inclined to believe that my bid was not even presented to the seller". Agents are legally obliged to pass on offers: https://www.gov.uk/buy-sell-your-home/estate-agents
As Mark says you could try to contact the vendor directly. If your offer was not passed on or if the agent said there was some impediment to your bid, then complain to the Property Ombudsman.

David, this situation makes my blood boil. I have been in this situation quite a few times as a financial broker over the years acting on behalf of clients. A client once offered in excess of the asking price, on a best and final basis, only to be told that someone had bid higher and could we put an even higher bid in.

I was suspicious, because something similar had happened a couple of months earlier with the same branch of estate agent (a major High Street name, who will remain nameless here). After discussion with my client, she decided to pull out and withdrew her last "in excess of" offer. Within 20 minutes, the estate agent called back and said that the other party could not be contacted, as they were in the wilds of Mid Wales, and if you want it, you can have it for the "in excess of" offer. Needless to say, my client told him to relocate the house to where the sun doesn't shine!

The system is open to abuse; in my view, repossession negotiations should be handled by solicitors, and in an open, transparent way. It would cost more, but at least everyone knows where they stand.

Reply to the comment left by "Steve Bower" at "22/09/2016 - 11:24":

Morning Steve,

David says the agent made it very clear the highest offer would get the deal.

As I said earlier, I agree with Mark and he should contact the vendor giving full details of his offer and the sooner the better.

Certainly no point going back the agent if he suspects foul play.

Good luck David.

This sort of thing is very annoying and all sorts of thing could have happened here and one of them could be simple incompetence.Over the years i have several times had estate agent offices.,.fail to return calls,,fail to promptly pass on offers to vendors and even fail to respond sometimes in ANY way to offers..including some very good ones. On more than one occasion ive been told they couldnt get hold of vendors etc..only to find out later from the vendors that they were at home and had received no attempted contact whatsoever from the agents. Sounds crazy I know but I had another similar incident just two weeks back,,,so it could be shady or it could be just incompetence, Good luck!