Active discussions

Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

AIBU to (technically) gazump someone?

110 replies

WaitedForGodot · 06/02/2017 17:27

long time lurker, first time poster

Went to view a house at the weekend that we loved - we've got a 13 month old ds and another on the way, and we're looking for a nice family home to live in for the next 20 or so years (with any luck). We're in the London commuter belt, so there's not exactly a glut of lovely family homes at a price we can afford. This one ticked virtually all the boxes, and was on at a great price as the seller had had a previous sale fall through and wanted a quick sale to avoid losing the house they were buying.

Rang the agent this morning to tell them we loved the house and arranged to do a second viewing tomorrow. Next thing we heard was at 3pm when we got a phone call to say that they'd received several offers, accepted one at asking price and were cancelling our second viewing.

We were pretty sold on the house in, and would just have been making absolutely certain it was right with the second viewing. And we reckon it's definitely worth over asking price (which was £50k less than it had been priced at when it sold the first time). So we came back and offered £10k over asking price, and are waiting to hear what comes out of that.

Anyway, I rang my mum to give her an update on what was going on (she's been following all our househunting via RightMove), and her immediate response was 'it doesn't seem right for you to make an offer after they've accepted one from someone else, how would you feel if that happened to you?'

AIBU to feel like we're not doing anything that wrong here? If the agent had kept us in the loop, we'd have made an offer before someone else's had been accepted, and given it's the same day it's not like they'll have shelled out for any surveys or anything.

or should we just lump it and accept that we're dirty gazumpers willing to snatch a house from under someone else's nose? Blush

OP posts:
SuperBeagle · 07/02/2017 06:47

It doesn't sit well with me at all.

The sellers and estate agent are the ones technically in the wrong, but I don't think your attitude towards it helps, and I wouldn't be surprised if you now find yourself in a bidding war, as the EA has obviously proven that accepting an offer does not mean accepting an offer.

Mummyoflittledragon · 07/02/2017 06:51

wett you can disagree with what is happening here. But don't get cross with the vendors or the buyers. This is down to the agents, who acted poorly. And the agents shouldn't get the last say. It's even more dangerous with the cheapo online agents. Vendors are potentially losing thousands because it is very easy for online agents to block potential buyers, refuse to take counter offers and advise their clients to go for an offer. It's happened to me before when I've tried to place an offer on a house when the other offer hasn't even been accepted. It's very frustrating and should be illegal. There are many agents, who do not have the vendors best interest at heart.

SuperBeagle · 07/02/2017 06:53

I should add that it's illegal where I live, and for good reason.

wickerlampshade · 07/02/2017 06:58

Same day means the other buyer is unlikely to have shelled out on a survey etc, that is quite a big difference to doing it later

wettunwindee · 07/02/2017 06:58

@Mummyoflittledragon

I'm not cross. I don't care enough about the situation for that.

We don't know if the EA or vendors are at fault but we do know the OP is (morally) as they were told an offer was accepted and put in a higher offer.

Mummyoflittledragon · 07/02/2017 07:05

Godot. If you don't get the house, there will be another. However, next time around, call the agent and let them know that you are very interested in the property. Ask them to inform you if the vendor receives an offer as you are looking into your finances or some such with a view to making an offer within the next couple of days. If you do decide to go for a second viewing, tell the agent you will be making an offer once you have seen the property and ask them not to accept an offer before you have had chance to make yours. You need to be high profile. Otherwise lazy agents won't bother with you as it will likely make very little difference to their commission whether or not you pay 5k more. A sale to them is a sale.

oleoleoleole · 07/02/2017 07:09

Doing what you did is fair. It's the vendor who will ultimately decide whether to gazzump, not you.

Mummyoflittledragon · 07/02/2017 07:09

wett. A good agent would have advised their clients to wait until the second viewing had taken place. And a good agent would have advised op an offer had been made before letting the vendors accept the offer. I've had lots of dealing with estate agents. I small scale property develop and the agent I now use to sell 100% agrees with everything I've said.

Mummyoflittledragon · 07/02/2017 07:10

What I mean by that is he wouldn't put buyers/vendors in a position where gazumping would happen because he does his job properly.

SoupDragon · 07/02/2017 07:16

It's the vendor who will ultimately decide whether to gazzump, not you.

Technically it's the offerer who is gazumping, the vendor is just going along with it.

At this early stage I think it's OK, if a bit mean (insofar as your be upset if it happened to you!). My current house went to sealed bids in the end which is what I imagine would happen with the house in the OP.

ExcellentWorkThereMary · 07/02/2017 07:36

I think it is awful and immoral that this is allowed but I get that you gotta do what you gotta do. It's happened to us and it's horrible. I'd echo other posters concerns that you are being played by the estate agent, I'd hazard a guess that if you had conceded and said "oh that's a shame" when second viewing was cancelled, it wouldn't have been long before you'd get a second call saying the fictional other buyer has mysteriously pulled out...

But I am a giant cynic ;) and sadly you gotta play the game and if you really want the house then you have to do what you can to get it, I guess. As long as you can afford it, offer what you like. But the house selling and buying industry is SHIT and it makes me angry that this crap goes on. Greedy estate agents playing with people's lives :(

TataEs · 07/02/2017 08:00

it's the nature of the business. everyone buying and selling a house knows that. you want a house, you'll do what you gotta do. i wouldn't even think twice about it.

neonrainbow · 07/02/2017 08:04

I honestly wouldn't give it a second thought. Offers made by different people in the space of a couple of days is bidding. Surely nobody really thinks an offer which is accepted means the house is theirs done and dusted? You haven't got the luxury of protecting a random strangers feelings over your own need to buy a suitable house. It's dog eat dog out there. After a week or two i wouldn't do it but same day? Definitely. And if it was done to me id be disappointed but in this case it would be the seller who is gazumping not you. They can sell their house to whoever they choose.

Foxyloxy1plus1 · 07/02/2017 09:28

We've been gazumped in the past and it's gutting. So when there's an accepted offer, perhaps the purchaser should insist that the property is taken off the market.

OP, if your offer is accepted and the vendor sees that the property is in demand, what's to stop them continuing to market it and accept an even higher offer. Particularly as the asking price was lowered.

Original poster
WaitedForGodot · 07/02/2017 09:59

Well, we're now at £20k over asking. Will accept that it's not to be if this isn't enough.

probably

OP posts:
user892 · 07/02/2017 10:05

I think estate agents deliberately undervalue some houses as they know there will be a scrap over it at the end. Good luck - sounds like they're looking for a v.quick transaction. Hopefully sold STC will be ok (unless another buyer literally has the funds in the bank).

purplecollar · 07/02/2017 10:16

I think bidding wars are common in SE. The estate agent selling our home prides itself on that being it's selling technique.

I don't think you've done anything wrong here. As you say, nobody's paid out for a survey yet. Really the EA should have contacted you to assess your interest. Their job is to get the best price they can for the property, they're being paid thousands to do it. They should be following up all potential buyers.

user892 · 07/02/2017 10:21

Their job is to get the best price they can for the property

It's actually not. A property with a prominent board advertising their company is worth a lot. The more Rightmove listings with pretty properties they have, is worth a lot. Filling up their books and appearing to be popular and competent is worth a lot (especially in this age of increasing internet EAs - saved us £3K in fees!)

Negotiating on the price of a house is small fry. They want it sold, of course, but their main focus is attracting more and more business through the door.

GeorgeTheHamster · 07/02/2017 10:26

I don't really see it as gazumping when it is all within a few days, more a bidding war. I knew you'd end up paying more. I bet you end up at more than £20k over, too.

Original poster
WaitedForGodot · 07/02/2017 10:32

well, looks like we're not getting it, other buyer is chain free and apparently that trumps any extra we're willing to pay

poop

I hope they love that house as much as we would have.

back to relentlessly refreshing rightmove

OP posts:
user892 · 07/02/2017 10:43

I would worry about being seen as ruthless, if we tried to gazump someone. I'm not sure we'd endear ourselves to the seller. Hope you find something else soon OP.

SansComic · 07/02/2017 11:41

Well, looks like we're not getting it

All's well that ends well.

sonyaya · 07/02/2017 11:45

godot

Bad luck. Keep on with the endless refreshing - it's how I managed to get our house. I viewed it the same afternoon it went on the market and offered asking price on the spot provided they cancelled any further viewings. It was the vendor who showed me round not the agent (who said they couldn't do viewings till the next day) and I had proof of funds with me. Being pushy and acting quickly is the only way!

Mummyoflittledragon · 07/02/2017 15:26

Better luck next time. Just remember to communicate loads with the agent about your intentions and find out about any other rejected offers or offers on the table.

pilates · 07/02/2017 15:55

Waited, I always think these things are meant to be.

I'm sure something better will come along.