Losing that first house; an example in agent incompetency
A change in tack today. It's been a while since my last blog, and I'm afraid this one strays away from book promotion and treading the waters of Amazon e-books rankings. No, today is a tale of how the business of buying a house is filled with incompetency (or ruthlessness, we haven't decided yet). The main thrust of this post is not to complain or to vent about what happened yesterday to me and my wife, but more to make other first time buyers aware of how following protocol based on what you read online or take the advance of those who have trodden the same path at one point or another, can lead to a serious case of getting shafted.
Here we go.
For some time now, I have been checking the UK property site, Rightmove on a daily basis to see what kind of houses are coming up in the current market that might make the cut for our first home. Up until recently it has mostly been for fun and just to keep tabs on the market, mainly because my job at the time was fixed term and so potentially difficult to get a good mortgage. Now however our situation has changed (sadly not because my book has been taken on by a traditional publisher for millions - though approximately £500 per month in royalties so far isn't all that bad for extra cash). As a result, last Thursday when one came on that looked quite nice and was priced very well, and was only half a mile from our current rented property, we actually went that extra step by calling the agent and arranging a viewing. A hour later we've arrived at the house in question, and have met with one of the agents from Matthews estate agents based in Bristol (a name and shame there, for reasons that will become apparent in a moment). We go into the house, and both instantly fall in love. Stripped doors with the brass plates reinstalled, stained glass above the porch door, the original stained glass inserted between the double glazed panels of the bathroom window, three bedrooms with the main one being almost twice the size of our current one and the third being big enough for my study plus fitting in my lazy boy chair that my wife has wanted out of the living room for a year now, brand new kitchen, downstairs toilet, little angels in the coving above the hallway, and decorated beautifully.
We leave the property excited, but sensibly wanting to discuss with family to get unbiased opinions. The next morning, I e-mail the agent and tell them we are interested in the house and will be in touch as soon as we have received our Mortgage in Principle agreement. They respond quite quickly, and tell me the vendors may be willing to make a deal on the asking price. The next morning (Saturday), I call back to ask for a second viewing to make sure we see all the nitty gritty before making an offer. The woman on the other end of the line tells me they will try to get in touch with the vendors to do so, and will call me back promptly. Two hours goes by; nothing. I call back, and this time a man picks up; the director of the agency. He says my number had been written down wrong (despite them having written it down and called me on it on the Thursday to confirm the viewing), and they were very sorry but had been unable to get hold of the vendors but will try again. Two more hours; and still nothing. I call again and am told the same thing (about the number as well as the vendors). At this point I'm curious because they must have my e-mail (they replied to it on Friday), so why the "difficulty" in contacting me?
We leave it until Monday, where I e-mail first thing to confirm our phone conversation and what they promised to do. Two hours later, and no reply. I call, and they say they still have not been able to get hold of the vendors. This rings an alarm bell or two because if I were selling my house, I would make damn sure that the agent I go with has both a mobile and an e-mail for me, because only a landline number pretty much ensures I'm out of contact for most of every day while I'm at work. Nonetheless, we give them even more benefit of the doubt, and call back at 4pm on the offchance one of the owners has gone on the school run and will be back in the house when they've got the kids. This is the call when the agent says they just spoke to the vendor, and this is where things "kick off".
They tell us that the owner was about to call them to inform them that the people who viewed on Friday came back on Sunday for a second viewing and made an offer, which they have accepted. Of course, I'm outraged that these other people went around the agent and did it themselves, when we played it "by the rules" and did things the proper way. I complain that we've been trying to get a second viewing for days, and now have missed out on a great house because we felt it inappropriate to show up at someone's door. The agent offers to call the vendors back to put this to them and to consider taking an offer from us.
I wait. An hour goes by, and nothing. Now, this should have been a 5 minute call, and the agent should be calling me to tell me either way, not going with "if you don't here from me, assume it's bad news" but not telling me so beforehand. I call back. He says that the wife is going to speak to the husband and get back to them. But here's where it gets interesting, and, to quote Velma of Scooby Doo fame, "hinky". The agent now tells me that apparently the Friday viewers did not go round of their own accord (despite his previous call implicitly stating that the vendor had told him this was so), and that what really happened was that the Friday viewers made an appointment with a woman from his office who works part-time, and who if so, had not told anyone else in the office about it. After this viewing, they made an offer, which was accepted by the vendor, and though legally he could not tell me what it was exactly, he could tell me it was close to the asking price.
So now we've gone from the vendor telling the agent that the viewer from Friday went back on their own on Sunday and made an offer, to a miscommunication in Matthews office that was really an official viewing appointment that a part-timer didn't bother to log anywhere, which led to an offer (that again no one bothered to log anywhere), and that it was close to the asking price. Not only that, but apparently the successful viewer has, within the last 24hrs (which is half of Sunday and half of Monday at this point) arranged for a survey. Now, at this point there are alarm bells ringing all over the place. Why, if you are the first to make an offer, would you go in at almost the asking price (particularly knowing an askign price is always an overprice by the agent)? Even if you wanted to make sure you got it, you can afford to put in a lower offer first, and work up quickly from there if needs be. Second, which story about how the offer got made is true? Considering it seemed as if they agent never had any intention of calling back when they said they would, I'm now thinking some shinanigans are going on.
My final analysis is this: The first story is closest to the truth (if either happened at all); the Friday viewers did a very "just not cricket" thing and went around the agent, and made an offer. However, the offer was probably actually closer to what we were thinking of putting in, but on hearing my outrage at the situation, the agent calls the vendor and says he's got another interested buyer on now, and if they reconsider the offer of the other person, they reckon they can drive the price up to the asking price because he's told us the offer was close to the asking price.
Whatever the outcome, my wife and I figured we've nothing left to lose (but will never again be viewing a property with this agent, instead rocking up to a house we like on Rightmove that has their board outside it, and asking the owners if they wouldn't mind), and write a very nice note to the vendors saying how sorry we were to have not been able to put in an offer ourselves, and that we had received very conflicting reports from the agents regarding how an offer being accepted came about. I popped it through their door and drove home.
We've had nothing from the vendors since last night when I left the note, but I don't remember seeing a computer besides their kids ones when we viewed, so maybe something will come through today (though I also provided my mobile). I figure at this point it could go one of three ways:
1) The offer was close to the asking, so they have no need to reconsider; case closed.
2) They think our dropping a note round their house was bad form, don't want to deal with us; case closed (but we're in no worse place than we were before, because we're not going to negotiate around the asking price - just isn't going to happen and the agents are idiots for thinking I'm going to play that game)
3) This is all a very big shock to them as they never got an offer, never had a second viewing, and this morning will call the agent when they open to ask what all this is about an offer going in.
So as you can see - we don't yet know if the agents were completely incompetent (and on the off chance they do call this morning to say they've heard from the vendors and it's bad news, I will be reading them the riot act for their member of staff not logging anything and costing us even a chance at making an offer), or are just playing a ruthless game to drive up the offer. I think whatever the outcome, as soon as I know nothing is going to happen, I'm going to go ballistic at them for their mistakes (for mistakes, read possible ruthlessness and arseholery). But let this be a lesson for all first time buyers - you don't always have to play by the rules and do "what people tend to do". The only one looking out for your house buying interests, is you.
Here we go.
For some time now, I have been checking the UK property site, Rightmove on a daily basis to see what kind of houses are coming up in the current market that might make the cut for our first home. Up until recently it has mostly been for fun and just to keep tabs on the market, mainly because my job at the time was fixed term and so potentially difficult to get a good mortgage. Now however our situation has changed (sadly not because my book has been taken on by a traditional publisher for millions - though approximately £500 per month in royalties so far isn't all that bad for extra cash). As a result, last Thursday when one came on that looked quite nice and was priced very well, and was only half a mile from our current rented property, we actually went that extra step by calling the agent and arranging a viewing. A hour later we've arrived at the house in question, and have met with one of the agents from Matthews estate agents based in Bristol (a name and shame there, for reasons that will become apparent in a moment). We go into the house, and both instantly fall in love. Stripped doors with the brass plates reinstalled, stained glass above the porch door, the original stained glass inserted between the double glazed panels of the bathroom window, three bedrooms with the main one being almost twice the size of our current one and the third being big enough for my study plus fitting in my lazy boy chair that my wife has wanted out of the living room for a year now, brand new kitchen, downstairs toilet, little angels in the coving above the hallway, and decorated beautifully.
We leave the property excited, but sensibly wanting to discuss with family to get unbiased opinions. The next morning, I e-mail the agent and tell them we are interested in the house and will be in touch as soon as we have received our Mortgage in Principle agreement. They respond quite quickly, and tell me the vendors may be willing to make a deal on the asking price. The next morning (Saturday), I call back to ask for a second viewing to make sure we see all the nitty gritty before making an offer. The woman on the other end of the line tells me they will try to get in touch with the vendors to do so, and will call me back promptly. Two hours goes by; nothing. I call back, and this time a man picks up; the director of the agency. He says my number had been written down wrong (despite them having written it down and called me on it on the Thursday to confirm the viewing), and they were very sorry but had been unable to get hold of the vendors but will try again. Two more hours; and still nothing. I call again and am told the same thing (about the number as well as the vendors). At this point I'm curious because they must have my e-mail (they replied to it on Friday), so why the "difficulty" in contacting me?
We leave it until Monday, where I e-mail first thing to confirm our phone conversation and what they promised to do. Two hours later, and no reply. I call, and they say they still have not been able to get hold of the vendors. This rings an alarm bell or two because if I were selling my house, I would make damn sure that the agent I go with has both a mobile and an e-mail for me, because only a landline number pretty much ensures I'm out of contact for most of every day while I'm at work. Nonetheless, we give them even more benefit of the doubt, and call back at 4pm on the offchance one of the owners has gone on the school run and will be back in the house when they've got the kids. This is the call when the agent says they just spoke to the vendor, and this is where things "kick off".
They tell us that the owner was about to call them to inform them that the people who viewed on Friday came back on Sunday for a second viewing and made an offer, which they have accepted. Of course, I'm outraged that these other people went around the agent and did it themselves, when we played it "by the rules" and did things the proper way. I complain that we've been trying to get a second viewing for days, and now have missed out on a great house because we felt it inappropriate to show up at someone's door. The agent offers to call the vendors back to put this to them and to consider taking an offer from us.
I wait. An hour goes by, and nothing. Now, this should have been a 5 minute call, and the agent should be calling me to tell me either way, not going with "if you don't here from me, assume it's bad news" but not telling me so beforehand. I call back. He says that the wife is going to speak to the husband and get back to them. But here's where it gets interesting, and, to quote Velma of Scooby Doo fame, "hinky". The agent now tells me that apparently the Friday viewers did not go round of their own accord (despite his previous call implicitly stating that the vendor had told him this was so), and that what really happened was that the Friday viewers made an appointment with a woman from his office who works part-time, and who if so, had not told anyone else in the office about it. After this viewing, they made an offer, which was accepted by the vendor, and though legally he could not tell me what it was exactly, he could tell me it was close to the asking price.
So now we've gone from the vendor telling the agent that the viewer from Friday went back on their own on Sunday and made an offer, to a miscommunication in Matthews office that was really an official viewing appointment that a part-timer didn't bother to log anywhere, which led to an offer (that again no one bothered to log anywhere), and that it was close to the asking price. Not only that, but apparently the successful viewer has, within the last 24hrs (which is half of Sunday and half of Monday at this point) arranged for a survey. Now, at this point there are alarm bells ringing all over the place. Why, if you are the first to make an offer, would you go in at almost the asking price (particularly knowing an askign price is always an overprice by the agent)? Even if you wanted to make sure you got it, you can afford to put in a lower offer first, and work up quickly from there if needs be. Second, which story about how the offer got made is true? Considering it seemed as if they agent never had any intention of calling back when they said they would, I'm now thinking some shinanigans are going on.
My final analysis is this: The first story is closest to the truth (if either happened at all); the Friday viewers did a very "just not cricket" thing and went around the agent, and made an offer. However, the offer was probably actually closer to what we were thinking of putting in, but on hearing my outrage at the situation, the agent calls the vendor and says he's got another interested buyer on now, and if they reconsider the offer of the other person, they reckon they can drive the price up to the asking price because he's told us the offer was close to the asking price.
Whatever the outcome, my wife and I figured we've nothing left to lose (but will never again be viewing a property with this agent, instead rocking up to a house we like on Rightmove that has their board outside it, and asking the owners if they wouldn't mind), and write a very nice note to the vendors saying how sorry we were to have not been able to put in an offer ourselves, and that we had received very conflicting reports from the agents regarding how an offer being accepted came about. I popped it through their door and drove home.
We've had nothing from the vendors since last night when I left the note, but I don't remember seeing a computer besides their kids ones when we viewed, so maybe something will come through today (though I also provided my mobile). I figure at this point it could go one of three ways:
1) The offer was close to the asking, so they have no need to reconsider; case closed.
2) They think our dropping a note round their house was bad form, don't want to deal with us; case closed (but we're in no worse place than we were before, because we're not going to negotiate around the asking price - just isn't going to happen and the agents are idiots for thinking I'm going to play that game)
3) This is all a very big shock to them as they never got an offer, never had a second viewing, and this morning will call the agent when they open to ask what all this is about an offer going in.
So as you can see - we don't yet know if the agents were completely incompetent (and on the off chance they do call this morning to say they've heard from the vendors and it's bad news, I will be reading them the riot act for their member of staff not logging anything and costing us even a chance at making an offer), or are just playing a ruthless game to drive up the offer. I think whatever the outcome, as soon as I know nothing is going to happen, I'm going to go ballistic at them for their mistakes (for mistakes, read possible ruthlessness and arseholery). But let this be a lesson for all first time buyers - you don't always have to play by the rules and do "what people tend to do". The only one looking out for your house buying interests, is you.
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