Buying house that was sale agreed

hurikane

Hi,

I've found a house that I'd like to place a bid on. The house was previously sale agreed (on market 8 weeks total), I called the estate agent who has it advertised and asked what price it was sale agreed at and what was the reason for the sale falling through? The agent dealing with the property wasn't available so left my name and number, the agent called me back today. Straight from the beginning of the conversation she seemed hostile, and told me that under no circumstances would she be revealing the previous sale agreed price or reason why the sale didn't go through. The only information she gave was there was a change in circumstances.

I'm wondering is this normal and to be expected? It would be great to know the previous and why the sale fell through. Thanks

Jim_Hodge

Honestly, I'd agree with the Estate Agent. I wouldn't expect personal information like that to be disclosed.

https://www.boards.ie/discussion/comment/120927194#Comment_120927194

Agreed, it's none of your business OP.

Furze99

https://www.boards.ie/discussion/2058307580/buying-house-that-was-sale-agreed

Could be any reason it fell through: funds weren't available after all, a death/ grave illness or that the agreed purchaser discovered defects and was seeking a reduction and I'm sure many other reasons. It's buyer beware, keep your eyes open. Neighbours might know as well.

riclad

It's up to you to bid on house and maybe get a survey done , it's not the agents job to discuss previous clients dealings with you ,just be careful ,there could be defect

that put off previous buyer ,buyer beware the agent is not your friend

MrsBean

I think it's perfectly reasonable to ask why a previous sale fell through, but I would ask that at a viewing not over the phone without having seen the place.

I have been to a viewing where the EA announced to the room that the property was previously sale agreed at X amount, why it fell through (was sale agreed to council and neighbours protested) and vendor would be keen to get a similar price etc.

Tbh I was surprised they said the previous sale agreed price but I got the sense they just wanted to close the sale quickly anywhere near that price for their client.

Mostly you will just be told the previous buyers circumstances changed or they didn't get full approval etc.

chrisd2019

https://www.boards.ie/discussion/2058307580/buying-house-that-was-sale-agreed

The property is for sale, view it and if interested put a bid it at what you think it worth and can pay. Many sales do not complete for various reasons.

Grumpypants

Perfectly reasonable to ask why it fell through. If it was something your engineer will find then they have a chance to be upfront about it.

They don't have to give any personal details. If it was finance related then they can just say the deal didn't go through due to some issue unrelated to the house itself.

I don't see why they wouldn't say the price either. If they want to sell it tell people the price the owner is happy to take.

Del2005

Just like people don't want to show the Estate Agent the amount they are approved for on their mortgage AIP letter when placing a bid, why would the vendor disclose what they where willing to accept from the last bidder? Both parties want to maximize their advantage and if buyers don't want to show their AIP amount why should vendors say what they where willing to accept?

Wildly Boaring

I'd not bother bidding if they won't disclose why it fell through.

Could be serious issue that your engineer or solicitor miss. Could be that the seller is painfully slow. Could be dodgy neighbours. Could be nothing.

But you can bet if it was nothing the EA would tell you.

Dav010

https://www.boards.ie/discussion/comment/120927375#Comment_120927375

Why would this possibly be a factor in your decision making?

Jim_Hodge

https://www.boards.ie/discussion/comment/120927375#Comment_120927375

So if he says the buyers sale of their own house fell through, or they had finance issues, that would put your mind at rest, even if it wasn't the reason?

Marcusm

She’s a fair moron to make that statement to you. If she had an selling ability she would kindly tell you that she can’t tell you in a manner which might lead you to infer that there was some problem on the buyer’s side and not an issue with the house.

elperello

https://www.boards.ie/discussion/2058307580/buying-house-that-was-sale-agreed

The EA is working for the seller.

hurikane

Thanks for the replies. I suppose I'm just worried about going sale agreed, and the surveyor finding something majorly wrong, saving me from buying but still costing me. Is there any obligation on estate agent to reveal issues they are aware of?

Dav010

https://www.boards.ie/discussion/comment/120927523#Comment_120927523

The reason property purchases are not covered by consumer law is that you have the benefit of hiring your own legal council, and surveyors to advise you.

Just because a buyer pulls out citing a structural problem, doesn’t mean the EA knows for a fact there is a structural problem. So I’m not sure why anyone would expect an EA to tell them what another buyer told the EA, and expect the EA to present it as a fact. The EA has a contract of agency with the seller, not the buyer, if the EA gave information which affected the sale to the detriment of the vendor, without knowing for certain that the information is factually correct, they would be in breach of their contract.

Honestly, why bother even asking the EA? You have to be pretty stupid to expect them to tell you something that would lower the price or jeopardise the sale of the house.

Wildly Boaring

https://www.boards.ie/discussion/comment/120927410#Comment_120927410

As in just lie?

Well I suppose its one approach

Jim_Hodge

https://www.boards.ie/discussion/comment/120927644#Comment_120927644

What I'm saying is would you just accept a bland explanation if they gave one? Of course you wouldn't. You'd get surveys done etc. So asking is pointless.

herbalplants

Reasonable question to ask but never expect an honest response back from EA.

suvigirl

Any viewing I have been to of a previously sale agreed property the estate agent has told me the previous sale agreed price and why the sale didn't go through. Lately it seems to be lack of finance on the buyers side.

But then I guess they can say anything really, may not be the truth.

pat_sconce

Remember, it's still a seller's market so estate agents are generally going to be arogant aholes.

They think they are lords and you, the buyer are just peasants.

A half decent agent would have answered differently and gauged your interest.

It's simply not worth persuing. Another better property will come.

riclad

If you want the house get a survey done ,it could also be that for instance the seller

has lost a document part of the deeds eg not all houses bought before 2008 were registered. So if a document is lost it can slow down the legal process

Every house sale is now registered .

PSFarrell

I visited several properties that had returned to the market fairly recently. I was given a reason by EA in all cases as to why it fell though, the most common being renovation costs being too high, and being advised to factor it in. I think getting an answer is a reasonable request but would not necessarily trust the response.

mykrodot

just so you know, the surveyors reports are often not be relied upon.

I was Sale Agreed on a renovated and extended cottage last year, it looked great on paper with a B2 rating. Surveyor gave it the thumbs up, no issues.... apart from no planning permission for the extension!

I soon discovered there was rising damp in the older part of the house from no drainage outside at foundation levels, water penetration through a rotted old upstairs window that had been covered up on the inside but the rain was running down behind the plaster...........and most importantly that there was absolutely NO insulation at all in the walls of the huge new extension. This was on B2 house.

I managed to get out in time, got my deposit back, thanking my lucky stars. That house is back on the market now. Buyer beware

Furze99

https://www.boards.ie/discussion/comment/120927766#Comment_120927766

https://www.boards.ie/discussion/comment/120928602#Comment_120928602

Buying a house can be wild west territory.

Apothic_Red

Originals buyers engineers report turns up defects, sale falls through.

Is their an onus on anyone to reveal this to a future buyer ?

I imagine the answer is no, buyer beware & all that.

DownByTheGarden

My neighbors house has just gone sale agreed for the 4th time in a year.

Another friends fell through twice last year.

Reasons were varied. They all pulled out at an advanced stages in the process.

• No fiber broadband available when and the buyer checked and only 100mb broadband was no good to them.
• Once buyer was going through a divorce and couldnt come up with the funds when it came time.
• Another asked €5000 for a tree to be cut down and the seller said no, do it yourself after you buy if you want. They messed around with a few other things and then the seller just pulled the plug and went again.
• Another couple were bidding on two porperties and then started trying to play them off against each other which ended badly.
• Oh yes, nearly forgot. Happened to my aunt too selling her house. One surveyor came back with rising damp and other issues. Buyer was looking for a heap of money off to remedy it. Seller got in someone to examine and fix it themselves instead if giving money off the house. The crowd they asked to come in and look at it to price a fix said there was actually no problem at all so no work to do. So she got another surveyor just to be sure and they saw nothing wrong either. The buyer was pulling a fast one.
• There were other reasons that i cant even remember now.

Noone has any idea what the EA told other buyers who came in after the sales fell through.

C3PO

I’m sale agreed for the 3rd time in 10 months and it’s beginning to look like this one might fall through too! There should be some onus on vendors to make sure that all the legals are in place before they put a house on the market.

Caranica

Look into local infrastructure plans too. Lost out in a bidding war, 6 months later back on the market. Viewed again, red ribbons on the trees on the road. Estate agent knew nothing. Talked to a councillor, road being widened. Going from house, garden, path, grass, road to house, garden road. Going from a rat run to a main route. Eh, no thanks.

herbalplants

https://www.boards.ie/discussion/comment/120954107#Comment_120954107

Don't mind me asking so you are the buyer and what is the reason the sale agreed will fall through?

C3PO

https://www.boards.ie/discussion/comment/120956396#Comment_120956396

Yes, I’m a buyer. The first time there were boundary issues (half of the garden, including the outbuildings, didn’t belong to the house). The 2nd time the surveyor discovered rising damp and woodworm in the roof structure - the vendor had clearly tried to disguise the damp behind fresh plasterboard and redecoration. And, with the latest house the vendor had applied for planning and then built something significantly different! He’s now going to apply for retention but who knows how long that might take!