| Agent fails to pass on my offer to the seller |
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Description
Who is the Rogue?:
Estate Agent
How does it work?: There have been a number of cases where the Estate Agent had deliberately withheld a higher offer from the seller. They may have another more profitable client who is willing to use their other services like mortgages. Or they could have a friend lined up for the property or be in collusion with a property developer. How to avoid this scam?: Estate Agents are required by law to pass on absolutely all offers in writing to the seller. Make sure you ask for a copy of the offer letter. If still in doubt, try and contact the seller directly to see if they received your offer. Scam reviews
Average Scam rating from: 2 user(s)
To write a review please register or login. 2 of 2 people found the following review helpful
Monday, 07 January 2008 Written by the boot Victim?:
Yes
Comments: Estate agents can avoid the necessity of passing on written offers by denying they have the property on their books. This happened here recently - someone had a good property for sale with development potential. The neighbours got to hear it was with a local agent. The agent denied it was with them but, fancy that!, the next day he put a large sign up outside the property saying 'SOLD'. Who bought it? A well-known local builder. Only way to get round this would be to make it law that ALL property must go on to the open market, with supporting advertisements in prominent places, for a minimum period. Much like they do with wills and probate. This would protect the seller - who can be sure he will receive the best market price for this property - and ensure the agent does not do 'bungs' or backhanders (as he no doubt did in this case). My Location: Worthing, Sussex
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2 of 2 people found the following review helpful
 Monday, 07 May 2007 Written by Nantango Victim?:
Yes
Comments: Yes this happened to me. My Location: London
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