MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
So my wife and her brother are selling the Edinburgh flat they inherited from their late mother.
The estate agent has had an offer marginally over asking price from an individual in China, who hasn't viewed the flat.
We all think "this has to be a scam"....but can't see what it is. The only thing I've found with a quick Google search is that they send a Bankers Draft for a deposit which is for a larger sum then required, then ask you to send the extra back...you do that, and then find that the draft is fake, and you've lost that "extra" you sent them.
Any other thoughts about what the scam is? (I mean it could be genuine with someone looking for a safe investment......)
Apparently it's common for Chinese buyers to offer over the asking price to 'secure the sale' then try to negotiate a reduction. It happened to us and a friend who had done a lot of business in China said it was a thing. Although in our case it was quite a lot over the asking price and they wanted to actually pay less than the asking price so we told them to get lost.
Ah...interesting.
Um. If the flat is offers over & is in Edinburgh over then I would expect it to go for quite a lot over the asking price.
I think it's now a fixed price thing cos it wasn't shifting
I bought 2 properties without viewing, but emailed the agent and explained why. Without the further info I doubt the agent would have taken me seriously.
In fact now if it happened again I would get someone local to look at it, but explain to agent why.
Just offering to buy something unseen, like a property, without viewing, rings alarm bells.
Once your solicitor has the funds they release the property. Probably to a letting agent. Can't see this being a scam.
Investors buy property without viewing it, especially overseas investors.
Folk are desperate for a slice of the UK property market.
I sold my Leith flat to a polish lady who didn't even set foot inside. She came to the door said she'd take and left.
Doesn’t sound that dodgy. If you view as someone buying a home without a viewing it seems weird. If it’s an investment, then not so odd. As above, likely to go straight to a letting agent.
My MD walked into my office building 2 years ago for the first time. Bought it and we’d operated out of there for about 10 years at that point. He’d never seen it though. To him it’s a business investment bought with his head Vs a home bought with head and heart.
Fyi the Chinese buyer put the offer in writing... For quite a bit less than the verbal offer.
For quite a bit less than the verbal offer
Just the MO Spin commented on above!
Personally I'd accept the offer but with the prevision it's kept on the market until exchange of contracts...
Just the MO Spin commented on above
Even the blind squirrel finds the occasional nut. 🙂
I'd keep it on the market for a bit longer.
Your solicitors will cover any money back scams,I don't see that as a concern.
I don't know scottish law but we know of agents in the south who have undervalued properties and then offered them to their preferred buyer for a kickback. So be sure the value is congruent with other properties.
Thanks all..they've now got a few sensible offers from more local buyers so have declined the overseas one