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Old 26.05.2020, 09:12
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House sold before even viewed it

A house we were very interested was advertised 2 week ago, I contacted the agent immediately and got one of the first appointments to view it (this coming Friday).

We had finance with the bank etc all arrange and were good to go if we liked it

The agent emailed me this morning, saying they have sold the house already. Is the system here so bad for its lack of transparency that when an appointment is made for a viewing you do not even get the opportunity to view it and make an offer yourself.
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Old 26.05.2020, 09:16
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Re: House sold before even viewed it

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A house we were very interested was advertised 2 week ago, I contacted the agent immediately and got one of the first appointments to view it (this coming Friday).

We had finance with the bank etc all arrange and were good to go if we liked it

The agent emailed me this morning, saying they have sold the house already. Is the system here so bad for its lack of transparency that when an appointment is made for a viewing you do not even get the opportunity to view it and make an offer yourself.

First come first serve? Why would the owner have to go through multiple visits if someone wants to buy it immediately?
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Old 26.05.2020, 09:19
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Re: House sold before even viewed it

Selling a house is almost as stressful as buying one. If I was selling and the first viewer offered to buy at a fair price I'd snap their hand off.
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Old 26.05.2020, 09:20
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Re: House sold before even viewed it

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First come first serve? Why would the owner have to go through multiple visits if someone wants to buy it immediately?
To get a better offer?
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Old 26.05.2020, 10:03
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Re: House sold before even viewed it

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To get a better offer?
You'd think so but if often in CH if the agent receives an offer at the asking price they consider it "job done" and won't work any more to get a higher offer.

Remember they're typically on 3% of the sale price so a higher offer of, say, CHF 50k is nice for the seller but for the agent this is "only" going to bring them CHF 1.5k extra, for the agent it's often quicker to move on and sell the next property on their books.
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Old 26.05.2020, 16:05
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Re: House sold before even viewed it

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First come first serve? Why would the owner have to go through multiple visits if someone wants to buy it immediately?
So they can go to final bids & get a significantly higher price than they were asking. Seems obvious to me
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Old 26.05.2020, 16:09
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Re: House sold before even viewed it

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So they can go to final bids & get a significantly higher price than they were asking. Seems obvious to me
As obvious as that not all sellers care about such.

Also we don't know how sharp (or not) the asking price was.
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Old 26.05.2020, 16:16
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Re: House sold before even viewed it

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As obvious as that not all sellers care about such.

Also we don't know how sharp (or not) the asking price was.
I would venture to say 98% of sellers of anything would want to get the highest possible price for whatever they are selling

On that particular property, the asking price was at the very upper limit of what the bank valued it at. The agent and sellers obviously knew that and I know if they accept a group of bids they would have received a higher amount than the asking but they must have been happy with the asking price, so good for them.
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Old 26.05.2020, 16:32
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Re: House sold before even viewed it

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I would venture to say 98% of sellers of anything would want to get the highest possible price for whatever they are selling

On that particular property, the asking price was at the very upper limit of what the bank valued it at. The agent and sellers obviously knew that and I know if they accept a group of bids they would have received a higher amount than the asking but they must have been happy with the asking price, so good for them.
well there you are, you have answered your own question. Job done.

To FMF- yes, as for more things, just depends on your reasons and criteria. With our last house in the UK, we fell in love with it- but sitting down and doing the figures- we realised it woud over stretch us. So we just didn't pursue. It was weeks later that I bumbed into the old couple's adult daughter in the supermarket - she recognised me and said 'oh hello, how are you? Do you mind if I ask why you have not made an offer- my parents keep talking about you and would so like you to have the house'. I was stunned and explained that we absolutely love the house but couldn't proceed at the price was too high- and otu of respect for her parents, didn't want to put a low offer in. She smiled and said- phone them and arrange to come for coffee and have a look again- and work out what is the max you could offer. So we did- we did stretch, but only as far as we could go- went, had lovely chat and he asked 'what can you pay' we explained that we didn't want an offer as it was substantially below - and he said 'go on' - and we did. 28% down - they both said 'fine, that will do- going back to Scotland, prices are very low there. Put our own house on market for quite a high price, sold the next day to first visitor- banker moving up from London and thought it was very cheap.

But we did lose quite a bit of money due to some idiot who wasted our time until the market fell. Got our current house at very good price, and managed to buy the flat in UK at rock bottom price as developer needed money and we were cash in hand. Up 40%. You win some, you lose some - it's a roller coaster.
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Old 26.05.2020, 17:48
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Re: House sold before even viewed it

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I would venture to say 98% of sellers of anything would want to get the highest possible price for whatever they are selling
I used to think this, too. But having spent some time talking to buyers, sellers and agents, I've concluded that there's a lot more (or less) in their decision than the actual price.

One estate agent told me that a client, who needed to relocate and wanted to sell, spent some months sorting out, getting rid of things, packing, and taking many photos of his favourite tree, which he had planted and nurtured over the decades they'd lived there, and shedding a few tears.

A buyer came to view, and the agent had not mentioned any of that. The buyer strode across the living-room towards the garden, as if drawn by an irresitable force, mesmereised, didn't look at the rooms, stared at the garden, breathed deeply and said: "I just love that tree! It makes me feel at home, instantly." The deal was settled immediately, for less than the advertised price. That was because the seller could finally let go, and that is what he needed, much more than the highest possible selling price.
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Old 27.05.2020, 14:56
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Re: House sold before even viewed it

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I would venture to say 98% of sellers of anything would want to get the highest possible price for whatever they are selling
not here. some yes, but not all
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Old 26.05.2020, 17:44
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Re: House sold before even viewed it

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So they can go to final bids & get a significantly higher price than they were asking. Seems obvious to me
There is no guarantee the seller will get a higher price!
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Old 26.05.2020, 17:47
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Re: House sold before even viewed it

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There is no guarantee the seller will get a higher price!
There is no guarantee that the agreed deal will go through.......
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Old 26.05.2020, 17:59
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Re: House sold before even viewed it

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There is no guarantee that the agreed deal will go through.......
And how that is handled is all up to what they agreed upon.

I had a preliminary contract drawn-up on spot, sure they could bounce the deal for whatever reason within or outside their power. But it would have costed them 10%

Heck, I silently hoped they would bail out :P
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Old 26.05.2020, 09:20
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Re: House sold before even viewed it

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A house we were very interested was advertised 2 week ago, I contacted the agent immediately and got one of the first appointments to view it (this coming Friday).

We had finance with the bank etc all arrange and were good to go if we liked it

The agent emailed me this morning, saying they have sold the house already. Is the system here so bad for its lack of transparency that when an appointment is made for a viewing you do not even get the opportunity to view it and make an offer yourself.
The house market is pretty fast here... we went to see a house on a Wednesday - two days after it was listed. Put an offer in, and were told that the house was already sold (Friday).

Second house we liked, we decided to put an offer in on the same day as we saw it... agent said that the seller already had several offers at the asking price and anything below the seller's asking price wasn't interesting. We didn't get it of course.

The house we eventually bought was a totally different story - we haggled about 20% off the price, and agreed on an entry date that was mutually suitable (seller had tenants, we were willing to wait a few months before moving in).
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Old 26.05.2020, 09:21
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Re: House sold before even viewed it

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A house we were very interested was advertised 2 week ago, I contacted the agent immediately and got one of the first appointments to view it (this coming Friday).

We had finance with the bank etc all arrange and were good to go if we liked it

The agent emailed me this morning, saying they have sold the house already. Is the system here so bad for its lack of transparency that when an appointment is made for a viewing you do not even get the opportunity to view it and make an offer yourself.
Sounds like the ex-owner had severe liquidity problems and needed the money from the sale as soon as possible.

PS. The agent is an employee/consultant. The one making the decisions is the owner, and owners have no duty of transparency to anyone but the taxman.
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Old 26.05.2020, 09:30
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Re: House sold before even viewed it

?? its not like this hasn't been covered a million times on here already, any house that is half decent in a desirable location will sell in hours here, its been the case for at least 10 years, if you don't get in first and make an offer there and then you'll lose.
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Old 26.05.2020, 09:33
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Re: House sold before even viewed it

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?? its not like this hasn't been covered a million times on here already, any house that is half decent in a desirable location will sell in hours here, its been the case for at least 10 years, if you don't get in first and make an offer there and then you'll lose.
Id have zero problem if I viewed it and mulled over for a view days but the fact an appointment was arranged, it should be honoured.

But hey not going to change the way things work
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Old 26.05.2020, 09:49
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Re: House sold before even viewed it

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Id have zero problem if I viewed it and mulled over for a view days but the fact an appointment was arranged, it should be honoured.

But hey not going to change the way things work
An appointment was arranged. Then the appointment was dutifully cancelled by the agent a few days before the agreed date.

If this is not polite and honorable, what's the standard?
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Old 26.05.2020, 09:54
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Re: House sold before even viewed it

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An appointment was arranged. Then the appointment was dutifully cancelled by the agent a few days before the agreed date.

If this is not polite and honorable, what's the standard?
Its not an appointment for a hairdresser, its an appointment that is life changing to most

The honourable thing to do is to honour the scheduled appointments which have been made, that is the polite thing to do, at least where I come from
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