Best and Final Offer – Scam or Genuine

I viewed a “re-possessed” property yesterday which was in a state. The agent wouldn’t confirm, but from what I can gather, the previous owner died in situ and was probably not found for a period of time given the staining on the carpet and smell.

Apparently a couple of clients had viewed the property and offered, but weren’t in a good position to proceed so the banks rejected them. I offered today and within an hour had a different person from the agency contact me to say as they “have a few offers on the table, so were going to a best and final offer bid process ending tomorrow at 17:00”.

For some reason, I smell a “bluff” alongside the other more obvious smell!

What do people think of these games and have they had similar experience? I am a cash buyer and whilst my offer is £5k below what the agent said the bank would accept, I still believe it represents a fair offer.

After further research into the stains, I spoke to a “bio-hazard” company who confirmed that they shouldn’t be showing the property without warning people and taking suitable steps to protect themselves and clients.

To level the playing field, I’ve told the agent and suggested they must advise all interested parties. Let’s see if they were bluffing me, but are they duty bound or legally obliged to do this? What about the Bank/Solicitor, should they be advising clients?

Thanks Paul.