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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:
Strictlymad · 04/02/2025 19:59

I think it’s very naughty (and shouldn’t be allowed) for them to go with a better offer 3 WEEKS on when you’ve spent out on a survey. And most odd of them too!

rainingsnoring · 04/02/2025 19:59

Whatabouthow · 04/02/2025 19:56

You haven't done anything wrong. You made an offer that percentage-wise is very close to asking price. It would be weird to offer asking price on a house that had been on the market a year with no interest. I don't know why you're getting a hard time or being called greedy (which is especially rich from someone who then went to sealed bids 🙄).

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I agree. There are always some total fools who get satisfaction by sticking the knife into people who are already upset. I expect they are triggered by the fact that you will be a cash buyer. Just ignore!

Original poster
Pippinsdiary · 04/02/2025 19:59

Nottodaythankyou123 · 04/02/2025 19:58

Ignore the faux confusion. It’s not hard to understand - an inheritance of say £365k would allow you to buy outright, pay SDLT, fees & moving costs but not leave you the wriggle room to drastically increase your offer without having to rely on your house sale, at which point you’re not longer a cash buyer.

I second others who said to write to them, explain what you’ve said here, that you love the property, remind them you’re a cash buyer, you’ve done your survey and are ready to exchange once they are. That you understand they’ve had lots of delays (arguably if they were that desperate to sell they’d have lowered the price but anyway) and you’re keen to move asap.

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Thank you. This is pretty much the situation but I don’t wanna give too much outing info!

OP posts:
AmpleRaven · 04/02/2025 20:00

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AlertBrickBear · 04/02/2025 20:02

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It’s not confusing?

redbusbeepbeep · 04/02/2025 20:02

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It’s personal, okay, I think OP gets your point.

Original poster
Pippinsdiary · 04/02/2025 20:04

Maybe it’s personal but apart from offering slightly lower we’ve done nothing wrong so that’s on them

OP posts:
AmpleRaven · 04/02/2025 20:04

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AmpleRaven · 04/02/2025 20:04

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gatheryerosebuds · 04/02/2025 20:04

And also mean that by cash buyer, you don't just mean no mortgage but that you are chain free and therefore can complete within a few weeks.

Original poster
Pippinsdiary · 04/02/2025 20:04

gatheryerosebuds · 04/02/2025 20:04

And also mean that by cash buyer, you don't just mean no mortgage but that you are chain free and therefore can complete within a few weeks.

Yep, no chain only on their side!

OP posts:
anythingbutlillies · 04/02/2025 20:05

venus7 · 04/02/2025 19:33

It's not greed, is it?

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What is it then?
Dream property that they could afford at full asking, yet they offered 3%, yep just 3% below and the sellers refused. So yeah, greed at trying to gain one up on the sellers.

HeartandSeoul · 04/02/2025 20:05

I know it is frustrating OP, and I was really annoyed when it happened to my parents, but maybe this is a sign that it isn’t the house for you. I also feel I wouldn’t want to engage with the owners anymore if they were prepared to accept a higher offer from another party. Yes, it is legal, but their morals are questionable.

As I said, I was really annoyed when it happens to my parents (they were looking for a property near to me). However, in hindsight, it wasn’t the right place for them. They soon found somewhere much more suitable for them, and are very happy.

AmpleRaven · 04/02/2025 20:05

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niadainud · 04/02/2025 20:06

Pippinsdiary · 04/02/2025 19:45

Because at this moment we have a specific amount tied up in bonds and with fees, moving costs and stamp duty if we don’t sell our 2nd property, that £5,000 makes a difference to us.

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Fair enough, I guess. Pity, though, if it's cost you the house.

Original poster
Pippinsdiary · 04/02/2025 20:08

anythingbutlillies · 04/02/2025 20:05

What is it then?
Dream property that they could afford at full asking, yet they offered 3%, yep just 3% below and the sellers refused. So yeah, greed at trying to gain one up on the sellers.

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Because it would be tight at asking price so I did what anyone would do, put an offer in?

OP posts:
LlynTegid · 04/02/2025 20:09

Whether you are a cash buyer, someone selling their deceased grandmother's house, or any other possibility, it should be illegal, end of.

Sympathy for the OP.

There should also be proper regulation and licensing of estate agents. Tony Blair abandoned the idea because of advice it would reduce competition, surely an acknowledgment of the spivs and chancers in that field of work.

HelloNorthernStar · 04/02/2025 20:10

anythingbutlillies · 04/02/2025 20:05

What is it then?
Dream property that they could afford at full asking, yet they offered 3%, yep just 3% below and the sellers refused. So yeah, greed at trying to gain one up on the sellers.

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It’s not greed, it is negotiating and using your financial situation to agree on a sell price. Happens all the time with house purchases.

Chillilounger · 04/02/2025 20:11

I would write a letter enclose your email just saying how much you love the property, how disappointed you are and that you're happy to up your offer and can move fast. Then knock on and hand it to them. Apologise for being forward but just say you were surprised that your offer was dismissed so quickly and you wanted to make sure it had been properly passed on. That's all you can do. I wouldn't necessarily trust the estate agents.

Cerealkiller4U · 04/02/2025 20:11

Pippinsdiary · 04/02/2025 18:06

It’s been really straight forward, we haven’t messed them around we viewed the property twice and put an offer in straight away as we are really keen. Provided proof of funds etc straight away. It was on for £350k but had been on the market a year, so we offered £340k and they declined. We then offered £345k and they accepted. Now someone has offered £350k and it’s been accepted

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You never know

the other offer might screw up. Friend of mine had someone offer her on her house within 22 mins of it being online. Didn’t view it. Nothing. Everything was going forward and the day they were due to finalise everything they pulled out

so let’s hope that happens!

BrassyPalm · 04/02/2025 20:12

There are some very odd comments on this thread. Do people really go in and offer asking price or above when a property has been languishing on the market for a year? Offering below the asking price is not greed, it’s common sense.

OP send the letter, it won’t do any harm at this point and at least you’ll know you tried.

Original poster
Pippinsdiary · 04/02/2025 20:13

BrassyPalm · 04/02/2025 20:12

There are some very odd comments on this thread. Do people really go in and offer asking price or above when a property has been languishing on the market for a year? Offering below the asking price is not greed, it’s common sense.

OP send the letter, it won’t do any harm at this point and at least you’ll know you tried.

Edited

Thank you, I’m baffled that anyone thinks I’m being greedy.

OP posts:
rainingsnoring · 04/02/2025 20:15

anythingbutlillies · 04/02/2025 20:05

What is it then?
Dream property that they could afford at full asking, yet they offered 3%, yep just 3% below and the sellers refused. So yeah, greed at trying to gain one up on the sellers.

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What a bizarre take on things. it's a business negotiation, nothing to do with greed and absolutely standard with house purchasing. Are you suggesting that people with money should over pay for things simply because they can afford to do so? That really isn't what wealthy people do, on the contrary, they are often good at negotiating deals. The party that has been greedy and also dishonest here is the seller.

rainingsnoring · 04/02/2025 20:17

BrassyPalm · 04/02/2025 20:12

There are some very odd comments on this thread. Do people really go in and offer asking price or above when a property has been languishing on the market for a year? Offering below the asking price is not greed, it’s common sense.

OP send the letter, it won’t do any harm at this point and at least you’ll know you tried.

Edited

Exactly. It would be very unusual to offer full asking price for a property with no/little interest in a whole year, unless it had very recently been reduced perhaps.

Horses7 · 04/02/2025 20:18

Put a note through their door with your new offer and when you expect to complete.