Being gazumpted on dream property

[Pippinsdiary]

I know it’s legal to do it but I’m so sad

we offered just under asking price on our dream property that has been on the market over a year, the estate agent phoned yesterday to say another offer slightly higher has been accepted and it’s their final decision. I asked if we could offer higher and they said the vendors aren’t interested and just want to proceed and not waste any more time

am I wrong to think as our offer has been accepted we should have been given the chance to offer more before another has been accepted?!

I know this happens and I’m glad it’s happened now and not further down the line but I feel so angry

It's really crap. However long ago was your offer accepted?

Can you make your higher offer and give them something to think about?

Your agent is contracted to pass on all offers in England

The estate agent said she will pass on any offer but they have decided to proceed with their offer of asking price we are a cash sale with no chain so I’m really suprised

It’s been 3 weeks so not long but we have had a survey done and we’ve accepted an offer on our house in this time

You could pop a note through their door with your new offer and your phone number.

It’s very strange your agent is refusing - I thought they were bound to put forward any offers. Maybe they know the other offer people. Just a thought.

It’s not the estate agent it’s the vendor who apparently isn’t interested in any more offers as they are so desperate to sell

I would make the higher offer anyway. Unless you’ve been difficult, it’s a really shitty thing to do. It sounds like there is something more than money that’s turned their heads though. Fast sale to a developer? Cheeky sale to a family member or friend? Not quite the same thing as being gazumped, but we lost out to another buyer in best and final offers once because the other buyer was willing to exchange on Monday for cash, no conveyancing, and this was Friday afternoon at 4pm.

It’s been really straight forward, we haven’t messed them around we viewed the property twice and put an offer in straight away as we are really keen. Provided proof of funds etc straight away. It was on for £350k but had been on the market a year, so we offered £340k and they declined. We then offered £345k and they accepted. Now someone has offered £350k and it’s been accepted

How are you a cash buyer if you’ve accepted an offer? I would interpret a cash buyer as one who had no chain and can move/exchange immediately.

No way would I keep offering. Walk away and you’ll probably find something even better.

The fact they’ve done it after three weeks would annoy me beyond belief and if it falls through I’d tell them I’m not interested.

We are selling our house although we don’t need the funds to proceed, but we’d still like the sales to line up.

But that’s only what the agent told you?

This sounds suspiciously to me like the accepted offer is from a friend/family member of the agent. I would put a message through the door with your new offer and leave the agent out of it entirely.

This is how I feel but without going into too much detail time isn’t on our side and we don’t live near the area we need to move to. And I just love the house so much, we’ve been looking for 8 months

yes, the agent has been going back and forth with them but apparently getting no where. It’s a likely scenario but weird it’s been on the market a year with little interest and now all of a sudden someone is offering asking price

Part of me also thinks if they have done this to us now, even if they accept a higher offer from us it doesn’t mean they won’t do it again. I don’t want it to turn into a bidding war

I agree with pp .
I Would hazard a bet this new offer is from someone connected to the agent and they have their own interest in this being sold to this new bidder . They’ve probably offered the agent money on the side to get the sale .

I would deffo put a note thru with a further offer and explain that you know the agent has said you won’t be interested but you really love their property and you’re willing to move as fast as they need you too with the cash waiting .

I’d be tempted to just walk away but I get how hard it is. I’ve been there myself

The agent could have told them anything though and could be telling you a whole load of rubbish. Put your best and final offer to them directly and if they say no then just leave it at that.

The agent seemed genuinely confused by it too and was really helpful on the phone but yeah who knows. Putting a note will be tricky as we live 250 miles away from the property. The only people near by (ish) are my elderly parents, the reason we are moving.

Do the sellers know? Because you may have annoyed them by saying you are a cash buyer then tying another sale in.

If they’re desperate to sell surely they’d entertain a higher offer from someone who is already 3 weeks into the process.