Offer to buy property rejected.

[CYNthesys]

Im confused and annoyed so will appreciate any thoughts on this. . An EA advert includes a Public Notice stating - Address: Flat xxxx .We are acting in the sale of the above property and have received an offer of xxxx. Any interested parties must submit their offer in writing to the selling agent within 14 days of the date of this notice. If no further acceptable offers are received during this period, the property will be marked as Sold Subject to Contract (SSTC) and no further offers will be accepted while under this status. Date of Notice: 13/01/26

The xxxx offer shown above is slightly lower than the asking price. My son who is a cash buyer offered to buy the flat at the full asking price, however the seller has rejected his offer. The seller hasnt given the EA a reason for rejecting his offer so we are all in the dark , sounds dodgy and doesnt right.

[atticus]

Complain to the Estate Agency (assuming that this is what you mean by EA).

Did your son provide evidence of funds?

[CYNthesys]

He has complained to the Estate Agents they agree its not on and it reflects badly on them, but the seller is unwilling to give them a reason. I wonder if the seller had already given a friend or relative the "heads up" to enable them to grab a bargain

[PallasAthena]

As far as I know a private seller can decide to sell their house to anyone they choose even if it isn't the highest offer. The notice refers to "acceptable offers" not 'any offer'. Nor does the seller have to give any justification for their decision to unsuccessful buyers or to their own EA.

It would be different if the seller discriminated against buyers on grounds of a 'protected characteristic' under the Equality Act, eg only being prepared to sell to a white person. But you haven't suggested that as a possibility and some evidence would be needed.

Even if you could find a legal route to challenge this I wouldn't bother. The seller would most likely take it off the market altogether.

[CYNthesys]

Its a repossession sold on behalf of the lender by an asset management company

[atticus]

Did your son provide evidence of funds?

[Frank1]

"Buying a repossessed property from a lender or receiver" at
www.leawww.propertylawyers.co.uk provides useful information.
There are distinct disadvantages and financial risks for the buyer.
The property is sold as seen and normally on a fast track leaving insufficient time for a survey.

[Frank1]

www.leadingpropertylawyers.co.uk

[CYNthesys]

Did your son provide evidence of funds?

Yes he provided evidence of funds