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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:
Barbarana · 04/02/2025 19:16

This reply has been deleted

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

That was my take on it.

They want to sell it to a relative/friend.

🙄

Original poster
Pippinsdiary · 04/02/2025 19:18

venus7 · 04/02/2025 19:13

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

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Good idea. I hope I don’t piss them off more but I suppose I have nothing to lose

OP posts:
SoNiceToComeHomeTo · 04/02/2025 19:19

Pippinsdiary · 04/02/2025 18:04

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

That's what the estate agent is saying. It isn't necessarily the whole truth. Nothing is better than a cash buyer offering the highest price. Try again or contact the vendor directly.

oakleaffy · 04/02/2025 19:21

Pippinsdiary · 04/02/2025 18:21

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

£350k isn't much in the scheme of ''perfect houses''..If it was THAT great, at that low price, it would have been snapped up, surely, rather than languishing for a year?

There will be other places.

GCITC · 04/02/2025 19:22

How todays submissions have gone down on reddit.

www.reddit.com/r/transgenderUK/comments/1ihktot/least_shocking_news_from_the_case_so_far_the/

anythingbutlillies · 04/02/2025 19:22

Pippinsdiary · 04/02/2025 18:46

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

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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.

We went to best and final on ours last year as we had 5 asking price offers. The eventual buyers went straight in with an offer almost 10% over asking price on a £450k property. Go big or go home!

GCITC · 04/02/2025 19:22

Apologies. Wrong thread

GiuliaTofana · 04/02/2025 19:23

@Pippinsdiary if the move is to live near parents would getting them a bungalow or ground floor flat and you purchase their home a possibility? Until you’ve found another forever home?

AmpleRaven · 04/02/2025 19:25

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LindorDoubleChoc · 04/02/2025 19:26

The vendors are untrustworthy because they were swayed by the extra £5k. If it isn't a sale with a vested interest (as suggested by pp) what they probably mean by not wasting any more time, is that they don't want to behave any more cuntily than they already have. They've screwed over one set of buyers, they feel bad about it, and don't want to do it again.

When did these buyers view the property? Was it after your offer was accepted? If so how did it come about, was it still being actively marketed?

I think you can go back to the EA again tomorrow when you've calmed down a bit and say 1. we have no dependent sale - do these new buyers? 2. we have had the survey done already and haven't come back wanting a price reduction - have these new buyers? 3. we are offering £350,250 to secure the house and get it off the market.

AmpleRaven · 04/02/2025 19:26

This reply has been deleted

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venus7 · 04/02/2025 19:27

bifurCAT · 04/02/2025 19:12

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.

CGT? Only if it's not their home.

May09Bump · 04/02/2025 19:28

This is my take on it - if a buyer puts in a lower than asking price offer then they are more likely to negotiate again if any issues (even minor) on survey. If you are going to push the sale forward and want the property you go in at asking price (unless overpriced or renovation money pit). Therefore, they took the other offer. Cash buyers or chain free buyers are the norm in my circle of friends - they sell their home and move into rented, so they are competitive when they offer.

We should move to a model where accepted offers backed by a mortgage offer / cash / evidence of deposit are legally binding - losing time / survey/ Solicitors costs through gazumping is unacceptable.

venus7 · 04/02/2025 19:29

Pippinsdiary · 04/02/2025 19:18

Good idea. I hope I don’t piss them off more but I suppose I have nothing to lose

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Exactly....and the personal touch often works, for obvious reasons.

Original poster
Pippinsdiary · 04/02/2025 19:30

LindorDoubleChoc · 04/02/2025 19:26

The vendors are untrustworthy because they were swayed by the extra £5k. If it isn't a sale with a vested interest (as suggested by pp) what they probably mean by not wasting any more time, is that they don't want to behave any more cuntily than they already have. They've screwed over one set of buyers, they feel bad about it, and don't want to do it again.

When did these buyers view the property? Was it after your offer was accepted? If so how did it come about, was it still being actively marketed?

I think you can go back to the EA again tomorrow when you've calmed down a bit and say 1. we have no dependent sale - do these new buyers? 2. we have had the survey done already and haven't come back wanting a price reduction - have these new buyers? 3. we are offering £350,250 to secure the house and get it off the market.

When we viewed the property and asked if they had much interest, they said they had 2 other people view it but neither seemed interested. The EA told me the offer has come from someone who viewed it previously but wouldn’t give anymore details.

OP posts:
Original poster
Pippinsdiary · 04/02/2025 19:31

This reply has been deleted

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Relatively well as my parents live there but it’s not the area I grew up in or spend a lot of time in

OP posts:
Original poster
Pippinsdiary · 04/02/2025 19:33

GiuliaTofana · 04/02/2025 19:23

@Pippinsdiary if the move is to live near parents would getting them a bungalow or ground floor flat and you purchase their home a possibility? Until you’ve found another forever home?

My parents are elderly and rapidly declining health so I wouldn’t ask for them to move however moving in with them would be an option for sure

OP posts:
venus7 · 04/02/2025 19:33

anythingbutlillies · 04/02/2025 19:22

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.

We went to best and final on ours last year as we had 5 asking price offers. The eventual buyers went straight in with an offer almost 10% over asking price on a £450k property. Go big or go home!

Edited
Show quote history

It's not greed, is it?

GrantMitchell · 04/02/2025 19:34

I understand why you’d want to try again OP, but I personally wouldn’t. They have messed you around and would do so again even if they accepted a higher offer. There is a chain above them and nothing to guarantee there won’t be delays that end. Move on and look again. And fingers crossed karma bites them on the bum.

My seller pulled out after messing me around for months. I had offered asking price and been quick and undemanding. That clearly led them to believe they’d easily get a new buyer. They are still for sale 8 months later and I live in the lovely home I found after losing that one.

redbusbeepbeep · 04/02/2025 19:35

anythingbutlillies · 04/02/2025 19:22

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.

We went to best and final on ours last year as we had 5 asking price offers. The eventual buyers went straight in with an offer almost 10% over asking price on a £450k property. Go big or go home!

Edited
Show quote history

How is it greed? It’s standard to chance your luck and offer slightly lower, you don’t ask you don’t get. Being a cash buyer would make me more likely to try and get it cheaper tbh

PurpleFlower1983 · 04/02/2025 19:39

That’s really frustrating OP, I would put a best and final offer forward in writing then be prepared to walk away. It does sound like they were offended initially and have made their choice though. Something else will come up.

HidingHereForTomorrow · 04/02/2025 19:41

You’ve had a hard time here OP, I reckon many of these posters have no idea about purchasing property and what that entails, even when you’re a cash buyer. Pop a note through the door if you fancy giving it one last chance, but taking £5k off the asking price is not greed 🙄

niadainud · 04/02/2025 19:42

Pippinsdiary · 04/02/2025 18:13

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

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If you can afford the new house without needing to sell yours, and it's your dream house, why didn't you just offer the asking price for the sake of another £5K which is less than 2% of the value of the property)?

Original poster
Pippinsdiary · 04/02/2025 19:43

HidingHereForTomorrow · 04/02/2025 19:41

You’ve had a hard time here OP, I reckon many of these posters have no idea about purchasing property and what that entails, even when you’re a cash buyer. Pop a note through the door if you fancy giving it one last chance, but taking £5k off the asking price is not greed 🙄

I know I like I’ve gone about everything the wrong way now and ruined it for us Sad

I think people think being a cash buyer means I can throw money at them but we really can’t

OP posts:
RIPVPROG · 04/02/2025 19:43

This happened to us when we were looking to buy our current house, SSTC survey done and we were gazumped. Also moving area, a week after that I got a promotion and pay rise and we could suddenly afford the house we now live in, knowing the area much better now I am so glad we didn't move into the original house, that area is really not the best, although the houses are big, old and beautiful. That first house is now an HMO so I suspect it was sold to a landlord the agent had sold to before. The system is awful, but things happen for a reason. Hopefully you'll get the best outcome for you.