16 Sep 21, 10:02 AM
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#26
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16 Sep 21, 10:02 AM
123
Imagineer
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Imagineer
Join Date: May 20
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Originally Posted by traceylou1972
Happened to DD2 and her partner earlier this year. Seller asked for final offers and positions by 5pm on the Friday, told they were successful and then on the Monday morning the other party put another offer in 😡. Estate agent asked them if they wanted to put another offer in - so not a lot of point in the final offer scenario. We advised them to pull out as the seller obviously wasn’t to be trusted. Luckily they have found a better house and moved in July. See more... |
We do this all the time when buying rental properties. We put in a realistic (but low) best and final, if we get it then great, if we don't we go back a week later with a higher offer in cash with a guarantee to complete in 4 weeks, almost always the seller chooses to go with our company.
Unless and until the UK changes its property sales law this is perfectly legal and indeed the way the market should work, best and finals is an aberration and should be outlawed (as legally it can never be a best and final, someone can always put in another offer and the agent is legally required to communicate this to the seller)
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