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Withdrawing offer that has been accepted to buy another house with same EA. Help!

(58 Posts)
OwZ321 Thu 10-Sep-20 02:51:16

I'll start from the beginning but try to keep it short.

We fell in love with a house 1 in January and put in an offer that was accepted. Near to exchange the vendors pulled out due to risk of losing their jobs because of the pandemic.
I was absolutely gutted as I fell in love with the house and the area.

Two weeks ago we put in another offer with house 2 that we both loved and could see ourselves living in..

Well today the house 1's neighbour has put their house on the market with the same EA and that's all I can think about.
It's the perfect size house for us and perfect location. It needs more work doing to it than house 2 but it's on for cheaper and it's on a bigger plot.

Do you think I've got a chance withdrawing my offer with the same EA and explaining my reasons for wanting to view and place an offer on the new house that has come on?

I feel ever so guilty for messing everyone around but I just can't nudge the feeling that this house would be perfect for us.

There is also 4 in the chain with house 2 and it's not yet complete.

We are going to be chain free as our house sale is nearing completion and we will be going into rental.

I hope that all makes sense. Advice please x

OP’s posts: |
TheHighestSardine Thu 10-Sep-20 03:08:41

Of course make the change, as soon as possible. Don't buy the wrong house out of mild embarrassment! That would be ridiculous.

The estate agent won't care, they get their percentage anyway.

WhoWouldHaveThoughtThat Thu 10-Sep-20 05:05:09

Yes, withdraw your offer. You'll probably regret it if you don't.
I know it's not a nice thing to do but until you have exchanged contracts either party can change their mind for any reason they like.
Of course there is a risk that House 1 fails to complete and in that situation I don't think you should go back to House 2.

OwZ321 Thu 10-Sep-20 06:41:07

The only thing holding me back is when house 1 sale fell through we rushed in a put an offer on another property with that estate agent and withdrew few days later. When purchasing house 2 the manager called to double check if we are 100% sure on the purchase, which we were at the time.
Little did I know 2 weeks later the neighbour of house 1 would appear on the market and I would change my mind.. This buying malarkey has been nothing bus stressful blush

OP’s posts: |
Thingsthatgo Thu 10-Sep-20 06:52:37

It’s very possible that the ea will tell the vendors all of this information, and the vendors will choose not to accept your offer on that basis (ie they think you are flakey).
Would you, at this point, prefer to not buy house 2, even if you can’t get the new house? If that’s the case, then go for it.

PaternosterLoft Thu 10-Sep-20 06:55:38

Don't buy the wrong house out of politeness.

NotMeNoNo Thu 10-Sep-20 07:01:36

When we sold our last house, the buyer pulled out of a different purchase very late. Perhaps different as the other sale was dragging badly, but it was the same EA. I said, feeling bad about the other vendor, are we the bad guys? The EA said, no we are, don't worry we are used to it.

I suspect the EA will just be keen to get a sale in the bag.

OwZ321 Thu 10-Sep-20 07:17:52

I would still go for house 2 if the vendors refused to accept our offer, because that's the second best.. I'm just going to have to bite the bullet and make that awkward phone call.. DH is refusing to do it.

If it ends up we lose out on both houses, I don't think I'll be that upset because we are going into rental and have to sign up for 6 months tenancy.

OP’s posts: |
OwZ321 Thu 10-Sep-20 07:20:28

Thingsthatgo

It’s very possible that the ea will tell the vendors all of this information, and the vendors will choose not to accept your offer on that basis (ie they think you are flakey).
Would you, at this point, prefer to not buy house 2, even if you can’t get the new house? If that’s the case, then go for it.

I did think that but the estate agent knows how much we wanted house 1 and even waited for ages for them to look for a property.. It went on for 5 long months

OP’s posts: |
Bluntness100 Thu 10-Sep-20 07:28:16

So the current offer is the third one, you’ve already put an offer in on another house, house two and changed your mind? And effectively th neighbours house is house four?

I think the agent will tell the sellers this, and if they have other offers they will not go with you. In addition your current seller might pull out.

You need to decide and I think you have, and it may work out for you but this doesn’t come without risk.

Holyrivolli Thu 10-Sep-20 07:29:49

What % of the local houses coming up for sale do these estate agents represent? You will be known to them as the couple who have already withdrawn two offers so if the EA tells their current or any future clients ( which they should do) this then I doubt they’d accept your offer unless they have no choice.

If there are lots of other EA who represent houses locally that’s not too much of a problem but if they have the local market sewn up by one EA and the market is relatively buoyant then you might never be able to buy there.

OwZ321 Thu 10-Sep-20 08:00:39

Holyrivolli

What % of the local houses coming up for sale do these estate agents represent? You will be known to them as the couple who have already withdrawn two offers so if the EA tells their current or any future clients ( which they should do) this then I doubt they’d accept your offer unless they have no choice.

If there are lots of other EA who represent houses locally that’s not too much of a problem but if they have the local market sewn up by one EA and the market is relatively buoyant then you might never be able to buy there.

That's exactly my fear, I would hate to be known as that couple. The EA seem to get quite a lot of the nice houses in my area.. I really don't know what to do for the better.

OP’s posts: |
Bluntness100 Thu 10-Sep-20 08:13:57

To be honest op, if I had other options you’d be the last person I’d accept an offer from, and as this is the neighbour they may have a friendship going on so it makes it awkward for them

As said, you need to do what is right, but what you plan doesn’t come without considerable risk. You may be fine, or you may loose both. And the agent will be reticent to deal with you if you loose everything and in future try to buy another house, they will put your offer forward but explain you’re that buyer and not trust worthy.

Thingsthatgo Thu 10-Sep-20 08:57:57

I think, if you’re willing to risk house 2 (and potentially other houses up for sale by this EA) then go for it. But it’s a gamble.

OwZ321 Thu 10-Sep-20 09:12:50

I think I might just stick with house 2..the gamble is way too great and everything happens for a reason I guess.

OP’s posts: |
CatherinedeBourgh Thu 10-Sep-20 09:14:19

Is house 1 going to be in a chain?

catnoir1 Thu 10-Sep-20 09:17:14

Buy the house you like

Bluntness100 Thu 10-Sep-20 09:24:29

catnoir1

Buy the house you like

It doesn’t work like that, the sellers have a say.

MorticiaAddamsIsMyStyleGuru Thu 10-Sep-20 09:39:48

I'd buy the house you truly want. You can always find another that you can make do with but you can't get your dream house/location easily. If it was to fall through then you'll find something else. You are in rented accommodation so you aren't on a tight timescale.
Go with your heart.

Bells3032 Thu 10-Sep-20 09:47:20

You're only two weeks in with the house so guessing basically nothing has been done. It's not like you're about to exchange.

Put an offer into the new house. the estate agent can't (or shouldn't) tell your previous buyer as it's a breach of GDPR. Why would house 3 know anything about house 1 or 2????

Don't settle you'll always regret it. you can put an offer into the new house and see what they say before pulling out of house 2 (unless you're in Scotland).

Frenchfancy Thu 10-Sep-20 09:49:04

I would send a heartfelt letter to the house you want explaining how much you wanted to buy next door etc. That way they get your pov and not just that of the EA.

SunnyUpNorth Thu 10-Sep-20 09:50:57

Initially I thought go for the new house, you only put the offer in on house 2 a couple of weeks ago so you’re not that far into the purchase. It will be upsetting for those vendors but if it’s a nice house they should get another buyer quickly.

However with the updates I can see how it could be tricky for you and your relationship with the EA and reputation etc. Would it be possible to go and knock on the door of the house that’s just come on and explain the situation to them. Say house 1 was your dream house, explain how long you persevered. Then explain that you had a knee jerk offer and that the house you’re buying now was a compromise purchase. Explain this is your dream house and it’s worth at least putting yourself out there a bit. If they aren’t keen then you haven’t scuppered the other house or your relationship with the EA.

torn2020 Thu 10-Sep-20 09:58:19

Have an open conversation with the EA. Remind them that you hung around for months on house 1 because you were committed to the purchase and that it was the sellers, not you, that pulled out.

Everything that happened afterwards is only because you were settling for a house that you liked less than the one you thought you could buy.

Sellers would be crazy not to accept an offer from someone they knew was committed to the purchase of their house, and you've proven that you are.

ChicCroissant Thu 10-Sep-20 10:08:02

I assume you haven't actually been round the house that has come up for sale, OP? Are you still looking, is that why you heard about this house?

If I was a vendor I'd be wary about someone who'd made and withdrawn an offer, especially if they currently had an offer on another house and were viewing mine! If I was that vendor I would expect the EA to tell me that info too.

Good luck with the purchase OP, it is a stressful time.

bilbodog Thu 10-Sep-20 10:08:27

You need to see house 3 before pulling out of House 2 just in case it doesnt meet your expectations. I think as the estate agents know how much you wanted house 1 it shouldn't go against you. After all they just want to sell the property for their clients.

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