What to do if you detect foul play with selling agent?

Need to be very careful what I write but if you had very strong suspicions that your offer was not presented to the vendor, what is the best course of action, particularly if you still want the property?

If I write the details, it becomes far too obvious I’m afraid.

 

Simple, you have the property address so you knock on the door and speak with the owners about your concerns ..... If the property is tenanted, you do a title search to get the Owner details, then you speak with them.

Real Estate Agents are the gatekeepers, but you don't have to play their game.

 

Deceased estate. I found the phone number of the seller/ beneficiary very easily (and the plot thickened even more).

 

There's often several 'interested parties' who will need to agree to the sale. The executor may not be the decision maker or may be under the influence of the other parties.

If you think something is going on, try engaging a buyer's agent on a fixed fee to see if you manage to get a different answer.

 

Confirmed just one beneficiary.

Confirmed my offer was the highest.

Did not amend the Contract.

Seller was not interested in time-frame, another party asked for settlement in February. Mine was 11 Jan.

Also confirmed, face to face with agent, “so mine is the better offer, yes?” - “yes it is but we’ll see which one (of the two) the vendor chooses”.

 

Offered to pay 10% deposit in full, there and then, agent got very nervous and said no no let’s just wait and see which of the two the vendor picks. This was at the property.

 

If you suspect your offer isn't being presented, and that this is the agent ensuring that another party are the only offer presented (at a bargain) then your only option would be to make your offer known to the beneficiary....

But this may involve making it all public knowledge (and you have said you don't want to do that)

 

Hi Stoffo,

I’m ok with checking with the vendor/ vendor’s solicitor to see if they got the offer. I just feel it would be unfair on the agent if there was no foul play so I’m trying to gauge the most diplomatic way to deal with this.

It was a very very strange ordeal, from start to finish.

 

You could write to the vendor's solicitor and question the contract terms, ask if the vendor has any preferences on settlement timeline, deposit amount (and early release), or any other item's that may make your offer of $123456 more appealing .........

A, they will now know the amount you offered
B, they may take your offer on suitable terms
C, it is less likely to be seen as going behind the agent

 

Vendor has accepted the other party’s offer. They will exchange tomorrow morning, therefore, as I understand it, the property is sold providing neither party breach the contract or rescind during the cooling off. There’s not much I can do but be upfront about getting them to confirm receipt of my signed contract.

 

I would have requested contract amendments via the solicitor so they were definitely aware there is another party. You could write to the solicitors just to confirm but probably nothing can be done after exchange.

 

Plot thickened further. Contract exchange “wasn’t happening until the morning anyway”. I offered another $2k, making my offer $4k more, miraculously the Contracts exchanged last night.

I just don’t get his game at all. There was certainly an underlying motive. I’m starting to think part of the agreement was they were going to market the other party’s property.

 

The other offer could have been family or friend of the vendor. Or are you concerned the other offer was a related party to the agent?

Cheers,
inertia

 

Fairly certain it was a done deal before I wasted my broker’s and solicitor’s time, rushed to get a contract together, bank cheque etc and to hold by 5pm.

Can’t think of a valid reason he’d need my signed contract for?

 

My suspicions were correct. Spoke to the other side’s solicitor, the other party did not offer a shorter cooling off period. Raised it with agent, he just said unlucky, it’s done now.

My offer was higher and exactly the same terms. Disgraceful when you think of the money paid by the seller to the REA for them to act in their best interests.

 

So you think it was someone related to the agent & your offer didn't get communicated?

 

You may sound like a scorned buyer, but you could print off the email offer (and response's) from the REA and pop them into the owners letterbox .....

That would make for an interesting conversation between the REA and owners !

Best case the owners take legal action against the REA for damages and crash the contract (to accept your offer) ?

Thoughts ?????

 

It sounds like you made a written offer which wasn't communicate and the vendor's solicitor can corroborate. Worth a complaint to fair trading?

 

I’m really not sure what the REA’s strategy was. I’m assuming a side deal (cash or similar).

I’ve raised everything in an email and copied in his Senior and his response (including everybody copied in) was, ‘...the vendor made their decision’.

I think I’m going to send the front page of my Contract to the Vendor’s Solicitor and just say this is what I signed and offered.

 

or,,,,,,,, maybe the vendor just didn't want to sell it to you.

I once bought a house from an elderly gentleman. He told me he wanted us to have his house and he didn't like the other people, regardless of any better offers.