House buying question

[cs02rm0]

Is it illegal for the EA to tell you what the highest current offer is? (England)

[sleep envy]

only if it's sealed bids IIRC

[sone]

I don't know if it's legal just don't expect it to be the truth. There's alway's an angle.

[sleep envy]

ask to see the file if you don't believe them, they have to report every offer

[Lurking Lawyer]

sleep envy said:

ask to see the file if you don't believe them, they have to report every offer

They're under no obligation to show it to a prospective buyer. After all, they're acting on behalf of the seller, and at least in theory act in the seller's best interests, so I can't see any compelling reason for them to do so unless they're using it as leverage to try to extract a higher offer.

[cs02rm0]

Is it any different with a repossession?

[siscar]

cs02rm0 said:

Is it any different with a repossession?

No but the bank/BS will have a policy on how it should be handled which may include not telling you what the highest bid is. So it's not the law but it could be client instruction.

[sleep envy]

Lurking Lawyer said:

sleep envy said:

ask to see the file if you don't believe them, they have to report every offer

They're under no obligation to show it to a prospective buyer. After all, they're acting on behalf of the seller, and at least in theory act in the seller's best interests, so I can't see any compelling reason for them to do so unless they're using it as leverage to try to extract a higher offer.

absolutely, if you were to ask to see the it's more likely that you're going to increase the current offer, and in turn their commission, so they'll duly oblige such a request

[loafer123]

siscar said:

cs02rm0 said:

Is it any different with a repossession?

No but the bank/BS will have a policy on how it should be handled which may include not telling you what the highest bid is. So it's not the law but it could be client instruction.

Are you sure?

We had an example here last week, where a proceedable bid was published in the local paper, something along the lines of...

"This serves as notice that we are in receipt of an offer of £z for x house, y street. Any persons interested in bidding for this property should put their offers forward before the xxth of March."