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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:
roses2 · 05/02/2025 11:18

Pippinsdiary · 04/02/2025 18:29

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.

Post a letter.

For £5k though seems odd they dropped out of your sale.

CactusSammy · 05/02/2025 11:34

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

The vendors don't think it's fair - yet you were the original buyer and they were happy to accept an offer over yours?

I definately think the estate agents have a hand in this, shifty bastards.

I'd still be tempted to try to contact the vendors directly. My money is on that the agents haven't passed on your new offer.

fashionqueen0123 · 05/02/2025 12:00

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

Not fair?! But that’s exactly what they did to you! Honestly I’d walk away. Imagine how much of a nightmare these sellers will be actually trying to do the rest of the sale.

Original poster
Pippinsdiary · 05/02/2025 12:48

fashionqueen0123 · 05/02/2025 12:00

Not fair?! But that’s exactly what they did to you! Honestly I’d walk away. Imagine how much of a nightmare these sellers will be actually trying to do the rest of the sale.

Show quote history

That’s my worry even if we were to proceed I wouldn’t trust them not to let us down again

OP posts:
Original poster
Pippinsdiary · 05/02/2025 12:49

I said the estate agent I’m confused on how it’s not fair as actually the fairest thing to do is consider an offer from us considering we had one accepted already. Just had a response to the EA to say they are just passing on what the vendors said, no additional info and ignoring questions in my email

OP posts:
rainingsnoring · 05/02/2025 12:56

Pippinsdiary · 05/02/2025 12:49

I said the estate agent I’m confused on how it’s not fair as actually the fairest thing to do is consider an offer from us considering we had one accepted already. Just had a response to the EA to say they are just passing on what the vendors said, no additional info and ignoring questions in my email

It's an odd situation and who knows what is really going on but you need to drop it now. This house is obviously not meant to be. Either the EA is messing around or the sellers have a reason why they prefer the other buyer. Either way, you are better off out of it. Just look for another option in the future.

SheilaFentiman · 05/02/2025 13:03

Unfortunately, I think you have done all you can now. The EA isn’t obliged to answer any questions.

If you want to, one last email saying “our offer of £x remains on the table whilst we continue our search, please get in touch if anything changes” would draw a nice line.

Original poster
Pippinsdiary · 05/02/2025 13:25

rainingsnoring · 05/02/2025 12:56

It's an odd situation and who knows what is really going on but you need to drop it now. This house is obviously not meant to be. Either the EA is messing around or the sellers have a reason why they prefer the other buyer. Either way, you are better off out of it. Just look for another option in the future.

Show quote history

Yep. I’ve left it and said if anything changes do let me know but for now I’ll be continuing my search

OP posts:
chargeitup · 05/02/2025 13:27

@AmpleRaven

Really? 🤔

You’re buying and average priced property so I presume average income and yet you have £345k sitting in the bank?
For Jesus are you always this tangential?

Who cares? The OP has said they are cash buyers. They have no reason to make this up as it's an anonymous forum. Can you not just go with what you've been told rather than coming up with issues based on your own imaginings?

chargeitup · 05/02/2025 13:35

@AmpleRaven

But… you have hundreds of thousands sitting in bonds and equity from a house sale
Huh? We have millions but we still would offer under if we thought the place was over valued. Being on the market for a year would absolutely mean offering under.

Why are you being so peculiar about the OPs finances? It's like you can't believe someone has more money than perhaps you do.

People with money aren't just throwing it at people willy nilly with no thought of value.
So strange

chargeitup · 05/02/2025 13:40

@anythingbutlillies

I would say this is what they think tbh. You offered £10k under, even though you obviously could go higher (which you immediately did, and are now trying to go higher again).
Lesson learnt - you've lost your dream house for the sake of greed £10k.
It's not greed. Do you honestly think the rules are different just because they have the money?

A house that's been on the market for a year with little interest = buyer SHOULD offer under. £10k off £350k is not even 3%

It went wrong this time but that doesn't mean it was the wrong thing to do. Some of you just don't understand how property sales normally work.

chargeitup · 05/02/2025 13:45

@AmpleRaven

We are a little confused about this you have sufficient money in bonds to buy this property outright without even selling your current property but you didn’t add £5k to your offer because you really need it to pay fees
WE are not confused at all.
The OP has money available. They need money to purchase and to cover all fees.
If they buy a house using all their funds and they haven't yet sold their house what are they going to use to pay the fees and other expenses?

Does this really need explaining to you? Why? Even a 10 year old should be able to comprehend this.

Elektra1 · 05/02/2025 13:47

If you don't need the sale proceeds of your house to buy this one, why is it so important to match up the sale and purchase in order to avoid moving in with your parents? That doesn't make sense. If you have the cash to buy the house without needing the chain to function, that's a big plus on your side that the other buyers may not have.

EAs are obliged by law to pass on any offers so you can make another offer and they have to tell the sellers. I'd make another offer £5k above asking and emphasising that you have proof of funds to show you're not stuck in a chain and can move quickly.

If it doesn't work out, then it's a lesson for next time. Chipping £5k off asking on a dream house is not worth the hassle.

chargeitup · 05/02/2025 13:51

@surreygirl1987

The issue is with the system then, not the people just trying their best to negotiate it. If I was offered a extra £5k on a plate, and didn't have to line up sales (when I thought it was chain free anyway), I'd be doing my kids a disservice by not considering it. £5k would make a huge difference to my family 👌
In which case you would presumably go back to the original buyer and accept a higher offer from them wouldn't you.
Why would you not when the original buyer might agree to pay more than the new offer? Why would you just shut down all discussion with the buyer you agreed to sell to. That is doing your dc a disservice

chargeitup · 05/02/2025 13:53

@HÆLTHEPAIN

OP is understandably fed up and comes on for some a vent and probably a bit of moral support. Explains their situation clearly numerous times, yet still the armchair detectives are out in force trying to find some perceived hole in OP’s story which they can use as a metaphorical stick to beat them with
And when they can't find a hole they just make stuff up and call the OP names. Such bizarre way to spend one's day.

SheilaFentiman · 05/02/2025 13:53

Elektra1 · 05/02/2025 13:47

If you don't need the sale proceeds of your house to buy this one, why is it so important to match up the sale and purchase in order to avoid moving in with your parents? That doesn't make sense. If you have the cash to buy the house without needing the chain to function, that's a big plus on your side that the other buyers may not have.

EAs are obliged by law to pass on any offers so you can make another offer and they have to tell the sellers. I'd make another offer £5k above asking and emphasising that you have proof of funds to show you're not stuck in a chain and can move quickly.

If it doesn't work out, then it's a lesson for next time. Chipping £5k off asking on a dream house is not worth the hassle.

OP has repeatedly explained this and the sellers and EA do not know about lining up sale and purchase.

Once more, for the cheap seats - very reasonably, she does not want to move twice, once into her frail parents' house and then again into the house she buys. If she has to, she will, but she would rather not. It's not hard to understand.

chargeitup · 05/02/2025 13:55

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.

🤦🏻‍♀️
Nope that's not what happened at all. I despair

chargeitup · 05/02/2025 13:58

@AmpleRaven

But if you couldn’t offer anymore than £345k 3 weeks ago because that £5k was critical to you for paying fees… how come you can now do an extra £10k more?
Because they now have a buyer for their house. Jesus.

chargeitup · 05/02/2025 13:59

@AmpleRaven
I don't know if you are not very bright and easily confused or just someone who enjoys trolling.

Or both maybe

Original poster
Pippinsdiary · 05/02/2025 14:11

@chargeitup haha thank you!! It seems self explanatory to me but obviously not to others.

@Elektra1 as explained so many times in the thread, I don’t NEED the sales to line up at all and if not we would still continue and it wouldn’t hold up the sale at all, however it would be ideal if they did so we don’t have to move into rented or with my parents. That being said, we will if we need to Smile

Surely everyone would ideally like their sales to line up to avoid the added stress?

OP posts:
AmpleRaven · 05/02/2025 14:12

This reply has been deleted

This has been deleted by MNHQ for breaking our Talk Guidelines.

fashionqueen0123 · 05/02/2025 14:48

Pippinsdiary · 05/02/2025 12:48

That’s my worry even if we were to proceed I wouldn’t trust them not to let us down again

Show quote history

They could do it again and hold you to ransom. They sound awful

Original poster
Pippinsdiary · 05/02/2025 15:56

fashionqueen0123 · 05/02/2025 14:48

They could do it again and hold you to ransom. They sound awful

Show quote history

Yeah that’s my worry so that’s the end of it Sad

so many other properties in surroundings areas and with the same agent and after some of the comments on here I’m skeptical about them too

OP posts:
Original poster
Pippinsdiary · 05/02/2025 15:57

Hmm @AmpleRaven i missed that comment

OP posts:
Lieneke · 05/02/2025 18:23

Knock on their door. They might not even know about your offer. This is what happened to us. When I knocked and told them they were livid. Turned out that the agency decided it was one of their agents that needed the sale, they all work on competition and they must have done a deal between them. Not all agents are bad bit ours was!