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Original poster

Being gazumpted on dream property

496 replies

Pippinsdiary · 04/02/2025 17:57

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

OP posts:
AmpleRaven · 05/02/2025 07:35

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Original poster
Pippinsdiary · 05/02/2025 07:37

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They basically came back to me and said they aren’t accepting anymore offers (after I put my offer in) and going with the other buyers as they don’t want to waste anymore time. Today I’m going back to see what they say now I have a clearer head

OP posts:
Original poster
Pippinsdiary · 05/02/2025 07:37

I then said if it’s not enough I can potentially offer more and the EA said the same thing

OP posts:
AmpleRaven · 05/02/2025 07:38

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Original poster
Pippinsdiary · 05/02/2025 07:38

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That’s my main question

No the bond money isn’t an issue and they know about it.

OP posts:
BrassyPalm · 05/02/2025 07:45

My oh my. I really do feel that some posters must be struggling in real life. They latch on to a MN topic and won’t let go.

Like a dog with a bone @AmpleRaven

WhereIsMyLight · 05/02/2025 07:56

This is an infuriating thread. There is this little link to “see all” posts by OP and you can read every answer before repeating the same old shit for the millionth time.

OP you haven’t been greedy or slow. I would say that if you want a house to offer asking price straight away, we did on our house, but this house had been on the market for a year with no reduction. For a house that had been on the market for year, you would have expected it to already be reduced to £340K or lower. It also wouldn’t be unreasonable if someone offered £330K given it had been on the market for year.

My guess is they can’t afford to drop the price, for whatever reason. They took the £5K reduction from you as it was the minimum needed to move but the additional £5K probably makes it easier for them. Same reason for you just in reverse. However, for most sellers it doesn’t make sense to dump a cash buyer that has had their survey done and is ready to push for completion after 3 weeks over £5K. You might have been able to push this through before stamp duty increase and now they are likely to lose that £5K in stamp duty for their onward purchase.

This is why I don’t think they want to sell. Yes they’ve told the EA they are desperate to sell but if you are desperate to sell you price it accordingly and reduce if necessary. You are motivated to sell, you have sold. I think if you offer more, you’re going to be in the same position a few months down the line.

The sale of your house is going through. You can live with your parents, although it isn’t ideal. When the sale of your house goes through and you have your house plus the inheritance does that open you to more houses? Or does it open you up to the two houses on the market at the minute with the funds to do them up? Maybe look at renting close to your parents for a little while and you have that money so can be a cash buyer or get a mortgage if you need it.

gatheryerosebuds · 05/02/2025 08:01

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Probably because it’s been on the market a year…
Nothing to do with OP who got a survey organised immediately.
That’s what makes the seller’s behaviour so poor. OP has shown commitment to the purchase.

NewYearSameMeeee · 05/02/2025 08:06

Pop a note through the door. Offer the ask (or even £500 over ask) Tell them about yourselves. Why you want to live there, the home it will become for many years for your family, the love you will give to it. Appeal to the emotions of a human being not just a monetary offer from an Estate Agent. This often works!
If it doesn't work, it's not meant to be. In the future you'll be living somewhere new and will have forgotten all about it guaranteed.
Good luck

NewYearSameMeeee · 05/02/2025 08:12

Also, if it's definitely a no go after everything you can ask the Estate agents to offer the new buyers to purchase the survey you had done. You get your money back and it speeds the process for them.

Original poster
Pippinsdiary · 05/02/2025 08:24

NewYearSameMeeee · 05/02/2025 08:12

Also, if it's definitely a no go after everything you can ask the Estate agents to offer the new buyers to purchase the survey you had done. You get your money back and it speeds the process for them.

Ah interesting didn’t know we could do this

OP posts:
isitme111 · 05/02/2025 08:25

I would leave it. It puzzles me as to why they would not go with a cash buyer for the sake of 5k. They've messed you around considering you have already had a survey done its pretty shitty behaviour from them. Move on. I hope a nicer house comes up for you.

Original poster
Pippinsdiary · 05/02/2025 08:47

isitme111 · 05/02/2025 08:25

I would leave it. It puzzles me as to why they would not go with a cash buyer for the sake of 5k. They've messed you around considering you have already had a survey done its pretty shitty behaviour from them. Move on. I hope a nicer house comes up for you.

I know, unless the new offer is a cash purchase too. Are the EA allowed to tell me any info about them?

OP posts:
isitme111 · 05/02/2025 08:57

Could be a cash purchase - no harm in asking the EA.

Original poster
Pippinsdiary · 05/02/2025 09:02

isitme111 · 05/02/2025 08:57

Could be a cash purchase - no harm in asking the EA.

I’ll add it to my list of questions. If they are a CP I’ll be gutted as I feel like we have nothing more to offer to make us more appealing

OP posts:
SheilaFentiman · 05/02/2025 09:13

You can ask, but be prepared that you might not be told if the buyer has said not to entertain any more offers. You might also get a vague “in a good position to proceed”

You4coffee · 05/02/2025 09:53

Could you boost your offer in other ways? Could you commit to exchange on x date and complete on y? Check with your solicitor first that they can meet those deadlines.

LoudSnoringDog · 05/02/2025 10:02

This happened to us and transpired that the people who gazumped us were selling their house with the same agents as our dream home vendor.

It was the estate agent driving the decision making. Arseholes

Original poster
Pippinsdiary · 05/02/2025 10:25

You4coffee · 05/02/2025 09:53

Could you boost your offer in other ways? Could you commit to exchange on x date and complete on y? Check with your solicitor first that they can meet those deadlines.

We can definitely commit to a date, yes. I am phoning my solicitor for advice shortly and then I will await their call

OP posts:
Original poster
Pippinsdiary · 05/02/2025 10:25

LoudSnoringDog · 05/02/2025 10:02

This happened to us and transpired that the people who gazumped us were selling their house with the same agents as our dream home vendor.

It was the estate agent driving the decision making. Arseholes

It’s a nightmare. I hope you managed to find somewhere you love

OP posts:
LindorDoubleChoc · 05/02/2025 10:41

Likewhatever · 04/02/2025 21:13

Gazumping is when you have an offer accepted and then subsequently rejected in favour of a higher offer.

Unless I’m missing something you made a lower than asking price offer which was rejected, then someone else entered the bidding and went above what you offered and that was accepted

It’s disappointing for you but that’s how these things work.

By all means contact the seller with your better offer but then you’d be the ones doing the gazumping.

And this adds so much to the thread.

Original poster
Pippinsdiary · 05/02/2025 10:54

Funny the EA isn’t picking up my calls and I’ve had an email to they the vendors don’t feel it’s fair to accept a higher offer from us and they are proceeding with the original buyers. So frustrating

OP posts:
NewYearSameMeeee · 05/02/2025 11:06

Pippinsdiary · 05/02/2025 10:54

Funny the EA isn’t picking up my calls and I’ve had an email to they the vendors don’t feel it’s fair to accept a higher offer from us and they are proceeding with the original buyers. So frustrating

This happened to us once too and I was so sad...however, now I'm in a different house, I look back and am soooo glad it all worked out the way it did because our new home is so much better and the location just perfect. If it doesn't work out, maybe it's all happening for a reason and the right house is still out there for you? It's a bit like when relationships end and we're convinced the person was perfect for us and we'll never meet anyone else who matches up, yet, fast forward 5 years or so and invariably we do - and usually a much better version of the one we 'thought' was the one!!

Original poster
Pippinsdiary · 05/02/2025 11:10

NewYearSameMeeee · 05/02/2025 11:06

This happened to us once too and I was so sad...however, now I'm in a different house, I look back and am soooo glad it all worked out the way it did because our new home is so much better and the location just perfect. If it doesn't work out, maybe it's all happening for a reason and the right house is still out there for you? It's a bit like when relationships end and we're convinced the person was perfect for us and we'll never meet anyone else who matches up, yet, fast forward 5 years or so and invariably we do - and usually a much better version of the one we 'thought' was the one!!

Show quote history

I’m sure I will feel this way too I’m just so sad right now Sad

OP posts:
Deebee90 · 05/02/2025 11:14

If they definitely Aren’t budging then you need to let go. Clearly the venders have seen something in the other buyers they prefer over you. It’s crap though.