offers on more than one house

[mir2001]

Hi
Can you make offers on more than one house at the same time or is that considered dodgy practice? thanks

 

[mcb]

Hi
Of course you can make offers on more than one house, although I have never done it through the same estate agents. But I have had offers on two different houses by different estate agents. If you saw two houses you liked and only put offer on one of them, by the time estate agent decides on offer the other house could be gone and then you could loose out on both. Dont think this is "dodgy practice"

 

[camel]

You can make as many offers on as many houses as you like. You're under no obligation to proceed with any sale until contracts become involved.

 

[tiger]

When other buyers complain of "phantom bidders", it's sometimes because of this.

 

[mir2001]

thanks for the replies, I'm looking at three houses and didnt want to lose out by putting an offer on one only.

 

[mercman]

mcb -- when does an Estate Agent decide on an offer. They are legally obliged to forward any offer to a Vendor for them to decide. An EA is a Human foirm of a Carrier Pigeon.

 

[mir2001]

Not sure that EA's forward all offers to a vendor, I helped a relative sell a house and afterwards I found out that there had been offers not mentioned to us. These were very low offers that we probably wouldnt have accepted but nonethless we only heard about them later on when we were being told about the offers that came in near the asking price.

 

[MrMan]

Hi
Can you make offers on more than one house at the same time or is that considered dodgy practice? thanks

Didn't you know, it's only estate agents who are dodgy eveyone is only looking after their own interests right?

mcb -- when does an Estate Agent decide on an offer. They are legally obliged to forward any offer to a Vendor for them to decide. An EA is a Human foirm of a Carrier Pigeon.

Now now mercman don't be showing your hand so clearly it almost appears like a chip on your shoulder. He is right about the legal obligation even though many vendors will insist on no offers below xamount to be considered.

These were very low offers that we probably wouldnt have accepted but nonethless we only heard about them later on when we were being told about the offers that came in near the asking price.

Quite often when a bidding war is ongoing an EA won't go directly back to vendor until it is at an end. Sometimes because they are busy and more often then not because they need to ascertain that the bids are reliable and not like the OP's which is basically driving up the price for the other bidder. What can then happen is the price goes too high and say someone like OP wins they then also win on the other house(s) they are bidding on and decide on one of those, the EA then has to inform vendor that they lost this sale and go back to the underbidder who then assumes that all along they have been strung along by a 'phanthom bidder' and they too either pull out or offer signifantly lower offer. EA's have to be careful too you know.

 

[mercman]

Mr.Man - I am not disputing your points. However in very many cases new entrants entered the market and offered the all singing and dancing glitzy high profile service which was very unprofesssional. These rogues were only found out when the market went off the boil. Remember EAs are selling something they do not own. Vendors hand over, in most cases their largest asset to a third party to sell, who derives a commission based on the sales price. Why don't EAs work on a fixed price fee arranged in price slots which just might put some respectability in the market, and more important professionalism in the EA profession.

 

[MrMan]

You are right that there are a number of rogues out there but really regulation (independent) is the key in my opinion. I don't think that the fees charged have a direct reflection on sale prices.

 

[mercman]

Mr.Man I'm not sure how long you are in the business, but the main problem as I see it (and I am not in the game TG), is the the Institutes simply turn a blind eye on bad, mistrustful and dishonest behaviour which has left the EA profession appear like a bunch of grave diggers.

 

[MrMan]

Thats why I have said an independent regulatory board is essential. Believe it or not the majority of agents would prefer this to be the case as it would help limit the amount of venomous comment that is aimed at our profession. We accept that there are rogue agents and that the entry to the profession is way to lax but rather than beat ourselves up over it it is very important that a proactive approach is taken. You obviously view EA's with contempt and that is probably to do with unfavourable dealings with them, but it also has to be said that peoples perception of auctioneers is way more negative than their actual dealings personally with them.

 

[mercman]

Contempt would be an understatement. And I never ever form an opinion from our persons' stories. Experience over the past ten years makes me believe that it is a service which does not want regulation despite the soundings of those in it. And my business is the property business. Unfortunately the few honest members of the industry get tarnished with the same brush.