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AIBU?

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Original poster

to think this is shady?

29 replies

PurpleOctober · 09/10/2018 14:45

A couple of months ago we put an offer on a house - we felt the asking price was quite expensive for what it was, so chanced our luck and offered £5k under the asking price. We are first time buyers.

The sellers said no, and a few days later accepted an offer from another buyer in a chain who offered £5k more. We thought oh well, there are other houses. This wasn't our dream house so weren't too fussed.

We received a call from the EA agent today, saying there are complications with the chain, and the sellers want to know if we want to put our offer on the table again. If we do, they will say no to the buyers they've accepted.

Is this shady or perfectly normal in house buying? Am I BU to think they should have thought about the complications of a chain before turning down FTB for £5K?

OP posts:
Rhondacross · 09/10/2018 14:47

It's not really anything for you to concern yourself about. Something may have come to light while dilligence was being done.

Original poster
PurpleOctober · 09/10/2018 14:48

But is it not shady for them to approach other prospective buyers when they've already accepted an offer?

OP posts:
ChippingInLovesWoollyHugs · 09/10/2018 14:51

It’s shitty, but not shady.

If you still want the house then offer them even less. There’s a reason they’re pulling out. Do ALL the possible checks and do not be surprised if they pull out on you later on.

I’d only do it if I LOVED the house, got a better deal and could afford to lose the money that any further checks would cost.

CuriousaboutSamphire · 09/10/2018 14:53

You don't know the details and no, it isn't shady to look for alternative solutions if the chain gets complicated.

Do you still want the house? If so you're in a good position! Just be sure to do a full survey, just in case!

HellenaHandbasket · 09/10/2018 14:56

If there is an issue with the chain they're within their rights to look elsewhere. How much is the house? £5k under asking is minimal.

letsdolunch321 · 09/10/2018 14:59

I would offer 7 grand less if the say no then offer 5.5 grand less. Bear in mind you are in a good position being 1st time buyers.

Good luck

FinnJuhl · 09/10/2018 15:03

We had the same thing happen to us, as the inital buyers had been messing them around. Happily turned them down as we'd found somewhere much better in the meantime.

I still can't believe we ever made an offer on the first house, as it was a bit rubbish and am very relieved we didn't end up living there.

The whole house buying process feels slightly shady, but if no contracts have been exchanged the sellers are perfectly free to accept other offers.

CaMePlaitPas · 09/10/2018 15:20

God I bloody well hate the word shady.

Stonebake · 09/10/2018 15:24

No, I don’t think that’s necessarily “shady” or suspicious. There’s a problem with the other buyer and the vendors want rid of the house. It happens.

Wherearemycarkeys · 09/10/2018 15:26

I'd go for it. You have no loyalty to strangers you've never met

Also I too hare the word shady

BrightonGallery7 · 09/10/2018 15:27

What is wrong with the word “shady”? It is a perfectly good word to describe a certain type of behaviour.

Crunchymum · 09/10/2018 15:30

Depending on how much you want the house, I'd be tempted to offer £7.5k under the asking price.

SistersOfPercy · 09/10/2018 15:39

No I wouldn't say so. Buyers could be arseholes digging their heels in or just being awkward.

That said:

This wasn't our dream house so weren't too fussed

You need to ask yourself then do you really want it?

Hissy · 09/10/2018 15:40

there is nothing wrong with what they are doing - it's a darn site more honourable than getting to you go ahead with surveys etc and then blowing you out last minute

If the price has dropped since the last offer then revise your offer and see what happens - if you still want the house that is

Missingstreetlife · 09/10/2018 15:40

Depends how far they've got, it not nice to let people spend money on a survey and then pull out. On the other hand you can't wait forever, the purchasers should make other arrangements.
Be aware you're dealing with people who are quite demanding, make sure your survey is watertight
Boils down to how you feel and how much you want the house

THEsonofaBITCH · 09/10/2018 15:44

Gazumping and Gazundering are time honoured situations in most of the UK and a deal isn't a deal until the paperwork is final and signed.

Bluntness100 · 09/10/2018 15:45

They have done nothing shady. If the potential buyers have turned out to be not proceedable it's fine for them to look elsewhere.

What is shady, or shitty, is the suggestions you try to fuck them oover and offer even less. Because the odds are they will reject, but if they don't, they will probably strip everything out of there inc the light bulbs.

They have done nothing wrong, don't go to the moral low ground. If you still want the house then put your original offer back on the table.

ileclerc · 09/10/2018 15:55

No, not shady imo. Any number of things could have happened.

WerewolfNumber1 · 09/10/2018 15:57

They haven’t done anything shady.

It may be that their buyers are trying to sell a house to somebody who’s being difficult, and it now looks like it will take a very long time to complete.

It would be reasonable for your vendors to look at other options if they are waiting to move.

morningconstitutional2017 · 09/10/2018 15:58

House buying and selling is so stressful, not least because many people don't behave 'honourably' - I think I'd step away and find something better. There's no guarantee that the new house sellers will behave any better, I'm afraid. I've moved house six times - I must be mad.

THEsonofaBITCH · 09/10/2018 15:59

Its a business transaction and shouldn't be an emotional one though many make the mistake of letting emotions into the equation. Offer what you are willing to pay for the property and they are free to accept or reject and to keep looking for someone else; there is no "moral high ground", IMO. What gets me is in the southern UK is a deal isn't a deal until the very end no matter how much work/investment you put in during the process. I HATE the concept of Gazumping/Gazundering but its a reality of life in the south. Good Luck!

ShizeItsWeegie · 09/10/2018 16:00

The other buyers might have pulled back due to a structural issue though. Quite how you find this out is difficult.

Mildura · 09/10/2018 16:01

But is it not shady for them to approach other prospective buyers when they've already accepted an offer?
Not really.
Fairly typical of house buying/selling.

Everyone looks out for their own best interests. The vendors, quite understandably, went for the higher offer - £5000 is a lot of money. Now it seems that the buyer is having some sort of difficulty proceeding with the deal and the vendor is exploring the possibility of their options. It would be unwise to extract themselves from the current deal without knowing there is an alternative purchaser they can sell to.

FTBs can sometimes be viewed as less than ideal to sell to, due to their lack of experience and potential nervousness, despite the lack of any chain behind.

Tinkobell · 09/10/2018 16:02

I see nothing shady in it tbh. You just have to say that your offer is being made on the understanding that it will be accepted as the only offer and the other chain buyers offer will be rejected. Ask them to confirm this in writing.
Who knows what was going on with the chain buyer, there can be many twists and turns buying and selling OP. Be patient, ask for stuff in writing. Don't spend on any solicitors searches until you're confident that your offer is being accepted solely and in good faith.

MrsReacher1 · 09/10/2018 16:04

Of course not shady. I wish I had done it. My cash buyers turned out to not be cash buyers and to have a problem with their own sale - a "tiny problem that would be sorted out next week at the latest".

I should have gone back to other interested parties as ten months later - we are all still here!!

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