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 but at the time we hadn’t an offer on our house and didn’t know how much it would go for. I know it might seem silly now and I wish we’d offered asking price

Exactly and if they don't they are breaking some rule in their Code of Practice.

I would check up on this and see if they are Registered with a Trade Organisation.

I will be asking this tomorrow. I presume they mean going back and forth between offers but I don’t know

Yes but we need to make that money back when our house sells…

It’s complicated but again not about my finances all that matters to them is we are cash buyers

@AmpleRaven Yes I’m intrigued why they think accepting a totally new offer and no longer going with you actually means “not wasting more time”

I don't get this ^ either.

They are engaged to get the best price they can for their client. The higher the price the more commission they get so I'm a bit clueless about this unless the new buyer is a friend of theirs and has a set budget.

This stinks. You had to chase the EA only to be told they'd accepted another offer? Terrible. I would send the vendors a letter.

If it's been on the market for over a year and you've been searching for 8 months and say there's not a lot available locally and this is your dream house, how come you've only just viewed and had an offer accepted within the last month?

Well yes obviously there’s something but 3 weeks from accepting our offer isn’t slow when it’s them in the chain not us.

Ffs do people think I’m a troll or something?
Basically this house was originally out of our price range so we didn’t even view it. Things changed which meant we could proceed

Offer 345 but tell them you'll hand them 10k in cash. This will give them lower capital gains tax, them more money, and you a house.

That wasn’t aimed at you it was someone question why we didn’t buy it earlier if it was our dream home

I agree they don’t want to sell to us, I just don’t know why and would help for future sales if we knew

Hope they get messed about by their new buyer!

Post a letter by Royal Mail? You have the address.

Maybe they were offended by your original offer? Now they received asking price offer they are digging their heels? I know they shouldn’t be offended but I’ve noticed some people do get funny.

That’s what I’m thinking tbh