Originally posted by WTFH
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Reply to: Offer Accepted, Property still on Market
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Previously on "Offer Accepted, Property still on Market"
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Originally posted by Antman View PostRefundable?
I wouldn't have thought anything is refundable (or rather claimable) until after exchange. Do solicitors work for free if you or the seller change your mind?
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Originally posted by Gumbo Robot View PostEA tells me a memorandum of sale has been issued & that the solicitors are talking.
In other words, this is up and running so I'm a bit concerned it's ostensibly still on the market despite the noisesade by the EA to the contrary.
But at least at this stage everything is refundable.
I wouldn't have thought anything is refundable (or rather claimable) until after exchange. Do solicitors work for free if you or the seller change your mind?
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Originally posted by Gumbo Robot View PostEA tells me a memorandum of sale has been issued & that the solicitors are talking.
In other words, this is up and running so I'm a bit concerned it's ostensibly still on the market despite the noisesade by the EA to the contrary.
But at least at this stage everything is refundable.
You are worrying for no reason. If the website is slow to update, even if someone calls to view the property the agent would tell them its on offer. It happened to me many times when we were buying a house.
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Originally posted by DimPrawn View PostI didn't read the first post correctly.
Yes, what is he whinging about, he's nowhere in the process yet. A total non event "making an offer".
In other words, this is up and running so I'm a bit concerned it's ostensibly still on the market despite the noisesade by the EA to the contrary.
But at least at this stage everything is refundable.
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Originally posted by Gumbo Robot View PostEA told me property was coming off the market when offer was accepted on Friday. Property still showing For Sale on RightMove & EA's website.
I smell a rat...
Would you proceed with the mortgage application & survey under these conditions? I can see myself getting gazzumped & a few grand going down the drain.
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Originally posted by WTFH View PostAt this stage it should be "Offer accepted". The buyer hasn't got his finances together and the solicitors haven't started talking.
Yes, what is he whinging about, he's nowhere in the process yet. A total non event "making an offer".
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Originally posted by fullyautomatix View PostEstate agents work a bit differently to Recruitment agents. Once an offer is made and accepted, they just move on to other properties. There is nothing in it for them to try and get a few grand more from some other chap. Their commission is miniscule compared to the transactions times and the business depends on quantity.Originally posted by mdhd View PostIt is not yours until you exchange. They don't want to turn away potential punters.
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Originally posted by mdhd View PostIt is not yours until you exchange. They don't want to turn away potential punters.
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It is not yours until you exchange. They don't want to turn away potential punters.
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Estate agents work a bit differently to Recruitment agents. Once an offer is made and accepted, they just move on to other properties. There is nothing in it for them to try and get a few grand more from some other chap. Their commission is miniscule compared to the transactions times and the business depends on quantity.
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Originally posted by DimPrawn View PostGet the mate to say he's a cash buyer, quite happy to pay well over asking price, something in it for the agent too...
The estate agent has to put any offers they receive to the vendor. That is a legal requirement.
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