Why Do Estate Agents Not Tell You Other Offers?

Are you liable for anything after selling a house?

Basic Limitations on Home Defect Litigation Ordinarily, only defects that are material and that you didn’t know about–but the seller did–at the time of sale will allow you to recover from the seller.

That means, of course, that most defects you might find withing a home will not make the seller legally liable to you..

Can estate agents tell you other offers?

Estate Agents can’t legally tell you how much the other offers were for, but they will usually indicate if they were close to the asking price, which can help to inform your own decision.”

Do estate agents legally have to pass on offers?

You must sign a legally binding contract with an estate agent if you use one to sell your home. They must show any offers promptly and in writing to the person selling the house. … Estate agents are also legally obliged to pass on any other offers for the property right up to when contracts are exchanged.

Should you offer over asking price?

But most agents prefer an easy negotiation, knowing that sellers get offended when they receive low offers on their homes. This means they will probably recommend you make an offer close to the asking price.

Can you sue someone for selling you a bad house?

You are (probably) within your rights to sue someone who knowingly sells you a house with serious problems. “Most U.S. states have a home seller disclosure law that requires a seller to disclose defects in the home that they are aware of.

How can I get out of an estate agent contract?

Depending upon the type of sales contract you have signed, you may still need to pay agency fees. In some cases you can pull out without owing any money, as long as you can prove the buyer was not introduced to you by the estate agency.

Do estate agents have to tell you why a sale fell through?

CPRs mean that estate agents now have to disclose “fair” information to homebuyers and sellers. … So no hiding information from buyers until it’s too late. And if a number of sales have fallen through agents now have to find out why and alert the buyer.

Do estate agents lie about viewings?

They may not have lied. I work in an EA and you would be amazed how many people don’t turn up for the appointments they’ve made. If the agent lies and says people had viewed when they feedback re: open house then obviously that’s not OK but it is likely they are as disappointed as you.

How likely is a house sale to fall through?

On a quarterly basis the fall through figure was 28.21% in the last three months of 2019….A quarter of house sales fell through in 2019.ReasonPercentage of failed sales 2019Percentage of failed sales Q4 2019Buyer changed mind34%36%Difficulty securing a mortgage17%18%Seller pulled out due to slow progress15%Chain break13%9%2 more rows•Jan 9, 2020

Do estate agents talk to each other?

Yes, real estate agents talk to each other, and they do so to : Facilitate the sales in which they are involved. Build a professional network which, in turn, helps them better serve their clients. Learn about the properties, the neighborhoods, and issues that might affect their clients.