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Original poster

I've been gazumped!!!!

49 replies

Cinders29 · 25/09/2019 19:55

Been looking for ages for a house and finally found one that fits the bill. Put an offer in 20K under the asking price as sooo much to do and will need the extra for that. Some of the things that need doing are all new windows, boiler , fuse board as well as cosmetic things. So will need as much as possible to do that.

That offer was declined, so I went in at our top offer which was 10k more and said final offer. Was told vendors were delighted and happy to accept. Instructed solicitors etc and today I've had a phone call to say that another offer has been put forward closer to the asking price and it's a cash buyer and would we like to offer more. They would not tell us what this new offer was.

Part of me thinks that it's the estate agents trying it on, but would that even be worth their while? I'm tempted to to just say crack on in hope that they are trying it on and come back and just carry on with our sale. Would that BU?

We could possibly go another 5K but would mean we'd have a fair bit less to do work which isn't ideal at all!!

Helllppp ! Thank you !!

OP posts:
lornz · 25/09/2019 19:57

It depends if it's 'the' house. Or a stepping stone - in my eyes anyway.

If it's the one £5k in the grand scheme of it isn't worth loosing the house over 🤷‍♀️

Bringonspring · 25/09/2019 19:58

I would say no initially and see what happens. You can always go back with your £5k

Foxyloxy1plus1 · 25/09/2019 19:59

The thing is, if you offer more, the cash buyer might up the offer again. Do you want to get into a bidding war?

I know it’s not illegal, but I think it’s dubious to accept an offer and then renege on it.

Wedontneedanotherusername · 25/09/2019 20:04

Thing is - if the offers are like for like - the cash one is always going to be more attractive. While there are loads of things I don’t like about estate agents- unless they are super dodgy- they don’t make up fake offers to get you to up yours.

Fairenuff · 25/09/2019 20:10

All you can do is offer what you are prepared to pay. If you raise your offer you won't be able to do the necessary work. Personally I would let it go.

Mildura · 25/09/2019 20:11

Calculate how much extra it’s worth to the estate agent in commission, and you’re likely to be convinced it’s not really worth their while and they’re not the ones trying it on.

DontCallMeShitley · 25/09/2019 20:13

I am always suspicious of these offers that appear after one has been made. I tend to suspect the agents.

Tell them to let you know if it becomes available again, there is a good chance it will, and then go back to your original offer.

FactorFifty · 25/09/2019 20:20

This is just part and parcel of house buying.

I always put in my very best offer, after looking at the cost of rennovation and similar sold properties neaby. And I make it clear I don't/won't negotiate at all. It's easier then - either accepted or declined! No bidding war, no stress, no 'should I go more or have gone for less' etc.

Original poster
Cinders29 · 25/09/2019 20:29

It's not my dream house no, but that's because of the circumstances. Basically, we currently live in a village and I'd love to live in a smaller village with more open space however due to our circumstances we have decided our life would be much easier if we moved closer to our family and friends from the town were from. So basically any house we move to in that area won't be perfect and I'm not over the moon about it but it's something we have to do. However, saying all that weve looked at so many houses and this one is within budget with loads of scope to extend , one of the nicer areas and even without extending has everything we'd like ... for our budget it's quite limited - so I'll be pissed off to see it go - plus our house is STC so don't wanna hang around too much.

OP posts:
FactorFifty · 25/09/2019 20:34

If it really has that much potential and it's in a good area, you've got a dilemma.

When they told you about the other offer, did you feel a vice-like grip of but that's my house or did you feel meh, there are more houses...?

Original poster
Cinders29 · 25/09/2019 20:39

Ahh that's a good question.. I just felt annoyed 😂 cus we were finally getting somewhere. I wasn't feeling distraught but like I said I don't think I'd feel like that about any houses in that area - I don't think. The more I've thought about it though but more I'm feeling desperate because I really think we'll struggle to get a house as good.

OP posts:
SallyT43 · 25/09/2019 20:52

I'd hold your nerve. I bet they are just trying to get a higher price. And even if you win this round so you speak they could well do it again to see how much more you are willing to pay.

HoHoHolyCow · 25/09/2019 22:40

A similar thing happened to us. Offer accepted etc. Then a phone call from the agent to say the vendors had received a higher offer and did we want to match it? I said no thank you, we were already paying full asking price, house was not worth any more.
Agent called back within 15 mins to say the other deal had suddenly fallen through so ours was still on.
I assume it was all a ruse to get more money!

mokapot · 25/09/2019 22:50

Let it go:
I just bought a house after the initial offer was rejected and then 2 days later she accepted. It’s different in canada but after the first offer we put in, I just walked away.
If it’s meant to be yadda yadda

Unknownanon · 25/09/2019 22:58

I would be sceptical. A higher offer plus cash buyer is always more attractive then mortgage. So i would wonder if they were lying to get you to raise. I thinks it's pretty pointless anyway with a good cash offer on the table. We lost 2 potential houses that was, with one a lower offer. It's more attractive.

Rosere · 25/09/2019 23:00

Get someone else to ring up to arrange a viewing and to ask about other offers. Our house had something like this happen and then the "buyer" mysteriously pulled out after offering 20k more than us. We did get it. Neighbours house same thing, different estate agents tho. They got told 10k extra was on. We had viewed the house previously so I rang the agents and asked about offers ... Told me the offer on it (lower one)
Mysteriously disappeared later that day and our friends offer was accepted.

MustardScreams · 25/09/2019 23:01

If it’s not your dream home don’t get sucked into a bidding war. Cash buyer always wins.

Do you really want to be spending your top budget on a house that needs tons doing to it?

BumbleBeee69 · 25/09/2019 23:05

it would be a big fat NO from me OP. Flowers

GabsAlot · 25/09/2019 23:14

You shyo0uold have asked for it to be taken off the market subject your offer-people get gazumped allthe time

Original poster
Cinders29 · 26/09/2019 08:54

Do I have any grounds to ask the agents to show proof of the offer?

It would make it easier if they actually told us the offer that had been made all they have said is it is closer to the asking price - well obviously !

OP posts:
Livelovebehappy · 26/09/2019 09:21

I don’t think the EA have to show you the other offer, but I guess you could try asking. Rule of thumb in these situations is to think how would you feel if you didn’t get the house. If you would feel gutted then I guess you need to go to the maximum so that if you don’t get it, at least you know you couldn’t have done more. But if you don’t go to your max, and lose the property, you’re going to maybe regret that you didn’t go that extra mile.

MoveOnTheCards · 26/09/2019 09:28

This happened to us (fortunately before we’d incurred any costs but our offer was accepted). The ‘cash buyer with a higher offer’ disappeared and the EA came back to us asking if we wanted to buy at the price the cash buyers offered (not even our own, previously accepted offer) Lol. Er nope. By that time we’d had an offer accepted elsewhere and decided we preferred that house.

familycourtq · 26/09/2019 09:32

I wouldn't be gazumped on principle (or gazundered) but that's just me and may not be rational or logical.

thatmustbenigelwiththebrie · 26/09/2019 09:36

It depends - do you think your current offer is fair and reflects what yhou can afford and the value of the house? If it is, then don't raise your offer and walk away. It's a business decision at the end of the day and more fool the people who will pay over the odds.

LaurieMarlow · 26/09/2019 09:39

Difficult. House buying is such a minefield.

In this case I wouldn’t because ...

A) poor form to accept your offer and then renege. You know what kind of assholes you’re dealing with, they wouldn’t hesitate to screw you over again.

B) there’s a good chance they’re lying

C) if they’re not lying, a cash buyer is always a better option so even if you do play their game, you’re the weaker player and unlikely to win anyway.

Screw them

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