Making multiple offers - do people do this?(7 Posts)
We have been trying to buy a house for nine months now with no luck. Basically, we have had three chains collapse sue to vendors pulling out. One was for a good reason but the other two were just trying their luck and decided they had changed their mind. We've lost loads in fees and surveys now. We're living in a fairly unsuitable rental with a baby due in November and it's all feeling a bit hopeless.
We've had a (fourth!) offer accepted on a house, but the vendors have not found anything yet and have just gone on holiday for three weeks. We really like the house and the location. Everyone I've spoken to has said we should keep looking, put in other offers and just go with whichever house has a complete chain first.
In my mind, this is a bit unethical, I just wondered if this is standard behaviour in house buying? On the other hand, I suppose nobody has to spend any money until the chain is set up. I don't want to be a twat just because other people have done it to us, but on the other hand, we need to find something fast as prices are rising and we are already looking at having to extend our mortgage by £20,000 and spend more of our savings to get a house than when we first started looking. In our experience, having a complete chain means nothing anyway, as they can always collapse, so I don't want to risk alienating estate agents etc.
DH is now saying we should put in an offer on another house we looked at last week, even though we still have the offer accepted on the first house, but I'm not sure we should get into this. WWYD?
I would. Why did they put their house on the market then go away for 3 weeks
Are you sure they haven't offered though on somewhere?
I absolutely hate this chain bullshit. If I'm buying your house what do l care where you're going?!
We have just moved after 13 months of house on market & sale going through etc. we stuck to our principles & our buyer held on. We did withdraw from one house at great cost to us after survey & mortgage etc.
The system is rubbish and the only people that seem to make money are the estate agents. But there are nice people around
I honestly believe that you do not have to behave badly just because every one else does. What kind of world would we live in!
I try to explain this to my kids all the time that if everyone behaved exactly as they want we would be in anarchy!
It seems silly to be unavailable for three weeks when you're trying to buy. Think what you could miss out on! I accept that people need a break, but how strange to prioritise a long holiday if you want to move. I can only think that it was booked before they decided they needed/wished to sell.
Its not strange to book a summer holiday during the school holidays - life doesnt stop because you put your house up for sale. Its also not strange that they havent found anywhere they want to move to yet.
And no, its not right to just put loads of offers in on places and see which is best - unless everyone knows thats what youre doing and its before you have an offer accepted.
It might not be 'right' but stupid system in England allows it. I just can't understand why this chain thing hasn't been changed?
The short answer to your question OP is yes, they do - I don't think it's right but the system allows it. We thought we'd sold our house, and had found somewhere to move to. The chain was complete. Then this weekend we found out that our buyer had put in an offer for another house, made direct to the vendor. Our estate agents found out when the vendor rang them! Apparently our buyer prefers this other house now so ours is up for sale again. We could lose our purchase I hate the whole process.
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