When you make an offer for a property the estate agent must pass it to the seller promptly and in writing. The only exception to this is if the seller has specified, in writing that some offers are not acceptable, such as below a certain amount.
The estate agent does not however have to give the buyer details of other offers that have been received by the vendor.
Remember it is not always the highest offer that wins. The seller may, for example, decide to sell to the person who can proceed most quickly. Cash buyers or people with a mortgage already agreed are always in a strong position. Mortgage brokers or lenders can give you an "agreement in principle" (AIP) This shows a seller that you should be able to move quickly.
Estate agents must treat all buyers fairly. They must not hold back offers from people who do not want to use their services. For example, you should not be treated differently because you do not arrange a mortgage through the estate agent.
The unscrupulous estate agent will imply that the sale will proceed quicker and easier if you use their mortgage adviser. They will also try and steer you towards using the solicitor they recommend for the same reason. However the money that can be earned from the sale of mortgage products, life cover etc can be more than the commission on the house sale.
A lot of Estate Agents mortgage advisers are not truly independent as they only recommend lenders from their approved list, not the "whole market". They might also only recommend life assurance etc from one Insurance Company.
If your offer is accepted, the agent should send you a letter confirming the details, but this is not a legally binding contract. Other offers can still be received and accepted in preference to yours and both you and the seller can renegotiate the price and or conditions of sale right up to the point when contracts are exchanged. (The process is different in Scotland).
The haggling over fixtures and fittings can sometimes get a little heated and sales have been lost over a £10 curtain rail. Therefore it is often better to negotiate through the estate agent not direct with the vendor.
A big cause of re-negotiation is very often when the property gets valued. (See Valuation Section)
If you feel that you have been treated unfairly in any way by the estate agent contact the National Association of Estate Agents (NAEA) at naea.co.uk; the Ombudsman for agents at oea.co.uk; or the Office of Fair trading at oft.gov.uk.
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