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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:
AlertBrickBear · 04/02/2025 20:20

I don’t understand all the wide eyed confusion on this thread? Have people not bought or sold houses before? Or had any family members that have? Read a book or seen a newspaper article?

  • OP has just enough money to finance a cash offer without selling a house. A cash offer makes her a valuable buyer. She’s also said it removed the stress of having to align her house sale, although that would’ve been a nice to have.
  • The other house had been on the market for a year so they offered slightly under. The sellers declined and so they went up a little bit and the sellers accepted. Very normal.
  • The sellers dropped out, unfair, but happens a lot. It seems a bad move on their part. But who knows.
  • OP is reasonably just looking for advice and maybe a little bit of consolation about the situation.

I still can’t work out with the confusion is about, unless people are just sticking the boot in.

Nottodaythankyou123 · 04/02/2025 20:20

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.

Show quote history

As I mentioned up thread an inheritance of £360k wouldn’t leave you £5k wiggle room, especially as if they buy before they’ve sold they’ll pay additional SDLT (which can be reclaimed once their house sells but the money will have to come from somewhere up front). Obviously they could wait until their house sells, but then they’re not a cash buyer and the seller definitely won’t be interested.

Plus who offers asking on a house that’s been on the market for a full year 🤷🏼‍♀️

Nottodaythankyou123 · 04/02/2025 20:21

AlertBrickBear · 04/02/2025 20:20

I don’t understand all the wide eyed confusion on this thread? Have people not bought or sold houses before? Or had any family members that have? Read a book or seen a newspaper article?

  • OP has just enough money to finance a cash offer without selling a house. A cash offer makes her a valuable buyer. She’s also said it removed the stress of having to align her house sale, although that would’ve been a nice to have.
  • The other house had been on the market for a year so they offered slightly under. The sellers declined and so they went up a little bit and the sellers accepted. Very normal.
  • The sellers dropped out, unfair, but happens a lot. It seems a bad move on their part. But who knows.
  • OP is reasonably just looking for advice and maybe a little bit of consolation about the situation.

I still can’t work out with the confusion is about, unless people are just sticking the boot in.

I suspect the green eyed monster is out to play

AlertBrickBear · 04/02/2025 20:21

rainingsnoring · 04/02/2025 20:15

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.

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Agree, it’s so weird! All these nonsensical ‘gotcha’ type posts about something that is so normal.

bouncydog · 04/02/2025 20:21

I would just walk away. It could be something as simple as they are selling to a relative who for some reason wanted the house but didn’t have funds but now does. Personally I would look for another house which you will love even more. Might mean waiting a bit but you could move in with your parents whilst you wait for yours to sell.

AlertBrickBear · 04/02/2025 20:22

Nottodaythankyou123 · 04/02/2025 20:21

I suspect the green eyed monster is out to play

Show quote history

I think so!

Toddlerhelpplease123 · 04/02/2025 20:22

If you really really want this house. It is really your dream house then make them an offer they can’t refuse.

If you’re paying cash anyway I am sure you can muster up a very decent bribe.

We once purchased a house we did not want to lose. Also at 350 funnily. We offered 395 because I wasn’t willing to live in regret.

Yes we overpayed. I do not regret it one bit.

Canthelpmyselffromjoiningin · 04/02/2025 20:22

Haven't RTFT but could they have form for dicking around like this and that's why it's been on the market for so long?
Personally I wouldn't offer more, but if you want to write the letter, set out exactly why your position, committed cash buyer, no chain means the sale should be smoother. I sold a house a few years ago that went to sealed bids, I accepted a sealed bid that was 8k lower than the highest bid, because the buyer was chain free and I knew how much stress it would remove from the process.

HÆLTHEPAIN · 04/02/2025 20:23

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.

Show quote history

Do you get a kick out of calling someone greedy?

Especially as OP has explained the situation numerous times. And as others have pointed out, it’s quite normal to offer below the asking price, especially when it’s been on the market for so long. AND especially when the vendors have already accepted that offer and only changed their minds when something better came along.

OP, please ignore this imbecile. And don’t beat yourself up. You have done absolutely nothing wrong. Oh, and there’s nothing confusing whatsoever about what you’ve explained about your financial situation.

Original poster
Pippinsdiary · 04/02/2025 20:25

AlertBrickBear · 04/02/2025 20:20

I don’t understand all the wide eyed confusion on this thread? Have people not bought or sold houses before? Or had any family members that have? Read a book or seen a newspaper article?

  • OP has just enough money to finance a cash offer without selling a house. A cash offer makes her a valuable buyer. She’s also said it removed the stress of having to align her house sale, although that would’ve been a nice to have.
  • The other house had been on the market for a year so they offered slightly under. The sellers declined and so they went up a little bit and the sellers accepted. Very normal.
  • The sellers dropped out, unfair, but happens a lot. It seems a bad move on their part. But who knows.
  • OP is reasonably just looking for advice and maybe a little bit of consolation about the situation.

I still can’t work out with the confusion is about, unless people are just sticking the boot in.

Thank you Smile explains it better than me rambling on

OP posts:
Onlinetherapist · 04/02/2025 20:26

@Pippinsdiary this just happened to me last week, I’m absolutely devastated. It was such a unique house too, I can’t imagine ever finding anything as beautiful again.

surreygirl1987 · 04/02/2025 20:28

Pippinsdiary · 04/02/2025 18:33

Yep, and I appreciate the back and forth is frustrating trying to get the price right but not even considering a higher offer is bonkers to me.

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But isn't that was gazumping is anyway? So what you're saying is they'd have been bonkers not to consider the other people's offer. Maybe they just wanted asking price have finally got it, and aren't intetested in any further discussion.

Unfortunately, this is just the way the system works in England. We gazumped someone else to get the house we're living in right now. They offered below asking, and we offered asking after the sale had already been agreed. I guess if you really wanted it that badly, it would have been sensible to offer asking. Nothing is final until completion.

venus7 · 04/02/2025 20:28

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.

Show quote history

You may as well state that the vendors are greedy. Offering a little below asking price is as old as the hills; what markets and trading are built on.

Original poster
Pippinsdiary · 04/02/2025 20:30

surreygirl1987 · 04/02/2025 20:28

But isn't that was gazumping is anyway? So what you're saying is they'd have been bonkers not to consider the other people's offer. Maybe they just wanted asking price have finally got it, and aren't intetested in any further discussion.

Unfortunately, this is just the way the system works in England. We gazumped someone else to get the house we're living in right now. They offered below asking, and we offered asking after the sale had already been agreed. I guess if you really wanted it that badly, it would have been sensible to offer asking. Nothing is final until completion.

Show quote history

I understand why they have done it, I’m still upset about it.

OP posts:
surreygirl1987 · 04/02/2025 20:31

Toddlerhelpplease123 · 04/02/2025 20:22

If you really really want this house. It is really your dream house then make them an offer they can’t refuse.

If you’re paying cash anyway I am sure you can muster up a very decent bribe.

We once purchased a house we did not want to lose. Also at 350 funnily. We offered 395 because I wasn’t willing to live in regret.

Yes we overpayed. I do not regret it one bit.

That's what I'd do. A friend of mine offered £30k more than the asking price (once the sellers had already accepted an offer). This was enough for them to take notice, and she's now living in it. I once offered £20k more than asking on a property I really really wanted, by slipping a note through their door. Unfortunately it all fell through in the end, but if you REALLY want it, making an offer they can't refuse is once way of getting their attention!

Original poster
Pippinsdiary · 04/02/2025 20:31

Onlinetherapist · 04/02/2025 20:26

@Pippinsdiary this just happened to me last week, I’m absolutely devastated. It was such a unique house too, I can’t imagine ever finding anything as beautiful again.

I’m sorry Sad

I can’t bare the thought of looking through rightmove again daily!

OP posts:
Tryingtokeepgoing · 04/02/2025 20:32

Barbarana · 04/02/2025 19:04

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.

Show quote history

A vendor is perfectly at liberty to instruct their agent not to put forward offers that don’t meet whatever criteria they have set. So, if the vendor says don’t put forward any offers from people who have already offered, the agent is not obliged to put their offer forward. Likewise if they say no offers from those in chains there’s no obligation either…

From the vendors perspective, maybe they were told they had a ‘cash offer’ and agreed a discount on that basis. But the OP is now trying to make the sale process tie in with her sale…which is fine, but it’s not really a cash offer in that case. And now the vendor has what they see has a higher, proper cash, no chain offer. They might feel somewhat misled (I know I would in their shoes) and could be the source of the ‘not wasting any more time’ comment!

Original poster
Pippinsdiary · 04/02/2025 20:32

surreygirl1987 · 04/02/2025 20:31

That's what I'd do. A friend of mine offered £30k more than the asking price (once the sellers had already accepted an offer). This was enough for them to take notice, and she's now living in it. I once offered £20k more than asking on a property I really really wanted, by slipping a note through their door. Unfortunately it all fell through in the end, but if you REALLY want it, making an offer they can't refuse is once way of getting their attention!

Show quote history

Unfortunately we can’t afford to do that, we could get together a small amount more to make another offer but that would be it

OP posts:
surreygirl1987 · 04/02/2025 20:33

Pippinsdiary · 04/02/2025 20:30

I understand why they have done it, I’m still upset about it.

Show quote history

... which is fair enough.

However, you did ask a question in your OP:
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?! so I presume you wanted answers...

BabbleBee · 04/02/2025 20:34

We fell in love with a property years ago, made an offer which was accepted. We lost out to another buyer at the same amount and it was simply because they were local, in the same village, and we weren’t.

surreygirl1987 · 04/02/2025 20:34

Tryingtokeepgoing · 04/02/2025 20:32

A vendor is perfectly at liberty to instruct their agent not to put forward offers that don’t meet whatever criteria they have set. So, if the vendor says don’t put forward any offers from people who have already offered, the agent is not obliged to put their offer forward. Likewise if they say no offers from those in chains there’s no obligation either…

From the vendors perspective, maybe they were told they had a ‘cash offer’ and agreed a discount on that basis. But the OP is now trying to make the sale process tie in with her sale…which is fine, but it’s not really a cash offer in that case. And now the vendor has what they see has a higher, proper cash, no chain offer. They might feel somewhat misled (I know I would in their shoes) and could be the source of the ‘not wasting any more time’ comment!

Show quote history

This. It might be an asking price offer that is genuinely chain free, which is worth far more than someone offering under asking and trying to make the sales line up.

Original poster
Pippinsdiary · 04/02/2025 20:34

Tryingtokeepgoing · 04/02/2025 20:32

A vendor is perfectly at liberty to instruct their agent not to put forward offers that don’t meet whatever criteria they have set. So, if the vendor says don’t put forward any offers from people who have already offered, the agent is not obliged to put their offer forward. Likewise if they say no offers from those in chains there’s no obligation either…

From the vendors perspective, maybe they were told they had a ‘cash offer’ and agreed a discount on that basis. But the OP is now trying to make the sale process tie in with her sale…which is fine, but it’s not really a cash offer in that case. And now the vendor has what they see has a higher, proper cash, no chain offer. They might feel somewhat misled (I know I would in their shoes) and could be the source of the ‘not wasting any more time’ comment!

Show quote history

I’m not trying to make it tie in with my sale as we have the cash ready to proceed. It being inline with my sale would avoid is moving in with my parents, that’s it.

OP posts:
AlertBrickBear · 04/02/2025 20:34

Pippinsdiary · 04/02/2025 20:30

I understand why they have done it, I’m still upset about it.

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It’s really gutting when this happens. I know in other countries there are deposits that are put down at the time of offering to prevent this. Even if the rules were changed so they had to pay your expenses so far I think it would make people think twice.

Original poster
Pippinsdiary · 04/02/2025 20:35

surreygirl1987 · 04/02/2025 20:33

... which is fair enough.

However, you did ask a question in your OP:
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?! so I presume you wanted answers...

Show quote history

It’s the fact we want to offer higher and we’ve basically been told no. I find it weird.

OP posts:
AlertBrickBear · 04/02/2025 20:35

surreygirl1987 · 04/02/2025 20:34

This. It might be an asking price offer that is genuinely chain free, which is worth far more than someone offering under asking and trying to make the sales line up.

Show quote history

They are chain free. The estate agents would have had to check evidence of funds to be a cash buyer also, which the OP has actually confirmed up the thread as well.