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

Yes, "waste any more time" is an odd thing to say if there haven't been delays.

I think because it’s been on the market for a year already? They told us they were desperate to sell

I agree but I would have no reason to lie on here, it’s been as straight forward as it’s mentioned. They seemed lovely when we viewed, all I can think of they were insulted we offered 10k lower than asking price although from my understanding this is pretty standard

Why was the house still available for viewings if it was SSTC?

Especially for a cash buyer. 3 weeks in and no sign of movement? As a vendor I’d take a better offer as well. The last few non chain cash purchases / sales I’ve done have all exchanged inside 4 weeks and competed in 5 or 6.

we had a survey done? It can’t proceed that quick anyway as they are in a chain themselves

I wonder if it was a developer who knocked on the door and offered a cash deal, no agents and therefore no fees.

Well apparently they viewed the properly before us but didn’t put an offer in until now. We were told they had a couple of other viewers but with no interest

Probably this but why haggle for £5k off when it is your dream house and you have the cash in the bank?

Ah well, you didn’t mention that they were in chain in your opening post. No reason not to have exchanged though surely, especially if you have had a survey?

Post the offer special delivery

Because this would take pretty much all the money we have with fees, moving costs etc so chanced it as it had been on the market a year with little interest 🤷🏼‍♀️

Send them a "signed for letter" in the post.
Explain everything and offer a little above the highest offer.

One last go.

Ah sorry. This was the next step I presume. I emailed today to chase what was going on with their end to be told we’d been gazumpted

A large proportion of sales fall through.
Serve them right if this one does!

I think this is what we will do going forward. I’m going to phone the estate agent one last time tomorrow and see if they can explain a bit more

fair enough, lessons learnt I suppose but wouldn’t you have recouped some spare cash when the sale completed on your current house?

Tbh I was blind sided when they phoned I couldn’t think of what to say and had a lump in my throat. They phoned back again after speaking to the vendors to put our offer forward which is when I was told they were happy to accept the other offer and proceed regardless. I’m going to phone tomorrow when I’m thinking a bit clearer