Are these ethical sales tactics?Make Text Bigger
I would be interested to know what other people feel about this behaviour from an estate agent? I saw a property that I very much wanted to buy and after having my original offer turned down I decided to offer the full asking price.
I was informed that there were 2 other parties interested but I was the only one who had offered the asking price, however they had decided to give all parties the chance to offer a “final and best” bid. This in itself was strange as the asking price had been reached. I understand of course that they were looking to achieve the best price and so had little choice, but to go along with it. It was made very clear to me that the highest offer would get the deal.
Because I wanted the house I significantly upped my offer and baring in mind the other parties hadn’t even offered the original asking price I was confident of winning.
Now this is where it gets a bit murky. I failed with my bid, I pushed them for a reason as I was convinced my bid was highest. They seemed to imply that my bid may well have been the highest, but that other criteria had come into play. They were very vague on what this criteria was and would not tell me what the other bids were, stating this information was confidential. I doubt it is confidential especially as the winning bid would then be a matter of public record at the Land Registry when the sale completed.
I am suspicious that the “final and best” offers weren’t adhered to correctly and that underhand methods have been used. If indeed other criteria were involved, why was I not informed of what this criteria was beforehand. I offered what I believe to be the best price and was in a position to pay cash if required so I can’t see what other factors may have swayed the deal.
If I was cynical I would think that one of the interested parties had an inside track and were always going to win the deal, whatever I did. It could of course all be sour grapes on my part because I lost.
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