Re: Purchase of Repossessed House

On Tue, 31 Jan 2006 16:51:43 GMT, "mrcheerful ." <nbkm57@xxxxxxxxxxx> wrote:

>
>"FerretFace" <cy.dewhurst@xxxxxxxxxxx> wrote in message
>news:1138722620.763708.259330@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
>> We're in the process of purchasing a repossessed house.
>>
>> We recently had the survey completed - and then were subsequently told
>> by the agent that they'd received a higher offer which is still being
>> considered.
>>
>> I'm being told by the estate agent that the house cannot be taken off
>> the market until exchange, is that true? They say that legally the
>> third party they are dealing with has an obligation to fetch the best
>> price - which I understand, but this doesn't effect the marketing of
>> the property directly does it?
>>
>> We also seem to be in the middle of some kind of 'serial gazumping' -
>> where the agent is possibly (artificially or not) inflating the price
>> of the property by gazumping old buyer with new consecutively, isn't
>> this illegal?
>>
>> Any suggestions as to what I can do to get the property removed from
>> the market upon acceptance of this or a higher offer?
>
>I had this, there was a price put on the repossessed house by the estate
>agent handling the sale which I agreed to, no offers or messing about. A
>few days go by, a phone call, "we have had a better offer", I agreed to pay
>more than the asking price by a few thousand, a few more days, "we have had
>a better offer" I told them to take it, eventually the house sold, I don't
>know how much for, but presumably considerably more than the asking price.
>I was a bit disgusted with the whole deal and next time would only deal with
>am actual seller, rather than a building society/bank.

You could look here to find out if it was in the last few years...
http://nethouseprices.com
.

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