To be gutted we’ve lost the house?

[DisneyMadeMeDoIt]

DH and I had been looking for our dream family home. I’m 17+3 and we need to move before baby comes (can’t stay here).

We finally found a horse we both ADORE! Our house has just gone onto the market (we live in a VERY popular area) has lots of interest and 5 cash buyer viewings booked this weekend (houses around here tend to sell within a week).

We had told estate agents for the new house all of this - there was one other interested party who had made a ‘VERY low offer’ and been rejected.

DH and I were going back to view this weekend - with parents and have agreed AIP with mortgage provider...etc.

So as long as we got an offer on ours this weekend (good chance we will) we were fully planning to offer- but we got a call this morning to say the other interested couple have made an increased offer (below asking price) and it’s been accepted.

We are gutted and feel like back to square one. Also a little surprised they didn’t postpone accepting this offer until after our scheduled viewing (they know how keen we are).

Anyway - EA says we can still submit an offer (as we have already viewed) and it will be considered but we can’t view again or show our parents 😒 disappointing

Is it worth holding out any hope for this house?
Is it worth submitting an offer?

We both just feel so deflated now

Always interesting on house threads because the housing market is so different in different parts of the country. When we moved a few years ago we knew our house would sell fast so we started looking before we had ours on the market. We didn't want to put our house on the market until we knew there was something we wanted to move into. We then had an offer accepted on our dream house with the proviso that we got ours on the market and sold within a week. Otherwise the dream house would go back on the market. Worked for us but it totally depends on the market in your area.

OP ignore all the people wittering on about you not being "proceedable" until you have sold yours etc. What a load of bull! Every time I've moved we have found what we want, offered, got it accepted and then put ours on market after. Same for loads of people I know & it doesn't seem to put sellers off. The market is slow in loads of places, many sellers are keen to get any offer. The other buyers of your dream house might need to sell too. As long as you are realistic about what you expect to sell for & aren't needing to get absolute top whack for yours its fine.

I wouldn't wait to make an offer. In the UK nothing is binding until exchange anyway.

But if the market is slow where you are offering, is there not the risk that it is also slow where you are buying?

Selling, where you are selling 🤦

Two weeks ago you were being advised to leave your husband because he didn’t want to move out of “his” house that he owned in order to buy a house suitable for a family.

Now you’ve finally found your “dream home”. Finally?!? I assume this is your dream home rather than his (the old fashioned one that needed lots of work, wasn’t it?). Last time we moved, we looked at 46 sodding houses to try and find anything even vaguely approaching our dream home and then finally found something we could both tolerate.

Anyway, having sold your house so quickly and found your dream home so quickly, I’m sure you’ll have no trouble finding another one with equally astonishing speed.

@Bunnyfuller

I do know that but we had already signed up with the EA and these ‘cash buyers’ are all actual viewing apt’s which have been made for this weekend. EA is very reputable and has given us a little background on each viewer...ie...first time buyers currently in rented accommodation- downsizers who have already sold their house....etc
We also have 2 viewers who are in a chain but sold STC and 1 whose house is on the market but not sold yet.

I totally appreciate the market has slowed due to Brexit 😂 but it’s hasn’t here. Like I said in earlier post - only other house like ours available in this area was listed less than two weeks ago (probably about 10 days) and when I checked rightmove yesterday SOLD STC

That’s not me ‘assuming’ it’s the facts of what is/has been happening in our area - even now

@gingersausage

I was very upset with DH dragging his feet and at that point we’d looked at a fair few houses all of which he ‘didn’t love’ which was getting pretty frustrating - and like he simply didn’t want to move- hence my post 😊

This ‘dream house’ is his fav (the farmhouse that needed decorating) and there is definitely an element of ‘if we lose this I’ll feel back to square one as it took him SOOO long to finally find a house he loves’

• time really does drag when you’re sleep deprived and living with nightmare neighbours

Why on earth do your parents have to see the house before you offer? As you already have a house and a child on the way, I assume that you are fully functioning adults, so stop dithering around

I genuinely don't understand what the problem is with making an offer before your own house has sold - but I am not in the UK. The UK system seems absolutely nutters complicated! Is it not possible to put an offer in anyway if you're that sure your house will sell?

Disney, I think you need to get a dose of reality here. You are now claiming that your neighbours are a nightmare!!

If you have had some fallouts with them you need to be careful when you fill in the paperwork. As others have said the massive disadvantage is your students next door and I think unless you are putting your house on at a bargain price you will struggle. I have recentlly sold two houses, a relatives for over £1 m in London and our own further north and reading your posts I think you are picking and choosing what you want to hear.

For those who say just lie and say you have an offer for your own place... you do know that the first thing EA's do is validate the offer. They will ask you have the house on with and then ring that EA to confirm. If you say you are selling privately they will want proof or the house will stay on the market. My colleague at work had a similar situation. A potential buyer offered to buy her house and 'claimed' that her house was under offer to a relative. It took them less than 24 hours to confirm it was a pack of lies as would yours be if you pretended that you already had a buyer.

The parents side of things is odd too. Are they funding some of the purchase?

I am sorry but you sound like you are messing around

1. you havent made an offer
2. you want your parents to approve the purchase
3. a little while ago you had other issues in your life
4. you live next to students and you refer to them as nightmares
5. you have a view that you will sell the house this weekend to a cash buyer

Honestly - would you think of yourself as a good bet??

Gazumping is such a shit thing to do. However, house purchases fall through for various reasons. I would call the EA and tell them you are still very interested and if the purchase doesn't go through for any reason to please contact you first. You may still get the house.

@sunglasses123
Yeas yeas yeas! Thank goodness someone setting it straight.

Sounds like the buyers have done themselves a favour by accepting someone else's offer.

@sunglasses123

I appreciate fully what you’re saying but I suppose it’s difficult to gleam a full understanding of our situation from MN posts. There’s always such a thin line between ‘your post is so long no one will read it’ and ‘why are you drip feeding’.

The students next door are not ‘nightmares’ they are noisy but don’t party every night and for the last few years living next to students hasn’t really phased us! (Ear plugs in - occasionally you get a bad night but hey ho). But DH and I have changed our position having a baby (our choice), and have realised that actually our house/neighbours will be a nightmare with a child!
Rather than demand they change their noise levels DH and I have realised ‘it’s our issue we need a family home’.

We know we live in a relatively popular area- we track rightmove so we see what comes and goes (not 💯 reliable but a pretty solid gauge) and certainly not ‘delusional’ or ‘fictional’ base for expectations.

Unfortunately there’s been VERY little we’ve liked (that fitted our requirements) so rather than sticking our house on the market in need of work we got the work done (knowing we would get a fair amount of interest as soon as it launched - EA’s agreed- and this is exactly what has now happened.)

But now, having delayed putting our house on the market and therefore not having an offer, meant we couldn’t offer on this house when we saw it! (they actually won’t accept a formal offer unless you have a confirmed offer on your own)

^All of this is unfortunate timing but yes 100% our own fault. That doesn’t mean we can’t try to resolve it now and hopefully still have a shot at the house.

The current buyers could well be in a backward chain themselves - we simply don’t know. But whilst right now we are in a much weaker position, that doesn’t mean next week we won’t be in a stronger one.

We’ve done all our research, commutes, local schools, facilities, expenses ...etc
Put together a detailed financial plan and got the AIP in place with the mortgage company (all done last week) so I don’t think we are ‘irresponsible buyers’ or ‘a bad option’ - we’ve just had our hands tied for now, unable to take any official steps forward.

Hence taking our parents to view (btw the EA told me the other buyers had also brought family to see the house- so I do not think that is uncommon)

Right now we are just accepting that ‘we will step in if this sale falls through’ and IF we get an offer in the next week, we will go ahead and make the offer we always intended to and are still entitled to! Our intention is not to ‘gazump’ and it will be entirely the sellers choice.
The other buyers will also have the opportunity to increase their offer - so it’s not entirely unfair.

I just tell the estate agents I'm in a position to make an offer. How are they to know you've had an offer on your house, say you have if it makes you feel better.

So you’re advising that op lies basically!! Should she also lie to her viewers when they ask who lives on either side, which any viewer with half a brain cell will.

Who cares about lying to estate agents? you can easily tell them you’ve sold a property elsewhere in the country, or world, or you’re a cash buyer and don’t need to sell anywhere. Honestly the EA will be lying so much to the vendor you lies will just be lost amongst it all

Having just bought a house and been through the hideous stress that is buying houses in the UK, what you are about to do is a very shitty thing. It sounds like there has been a back and fourth on the price and they have agreed, the buyer will have started appointing a solicitor and surveys.

I hope the owners of the 'dream house' ignore your attempts to gazump.

@AforEffort

🤔 DH had to take a day off work to view this house (around the availability of owners) we also drove a good distance- outlay! We did this after being assured by EA we would be ‘entitled’ to make an offer and have it considered (as soon as we could).
We were told there had been one other offer (rejected) but that all offers from those who had viewed would be considered (if they made this clear to us I assume they said the same to the others)

EA said yesterday that buyers had been made aware that house would be taken off market but that offers from those already viewed would still be considered! Also that we were wanting to make an offer!

Knowing that, they must know that their offer is only accepted if we/other viewers don’t come in with higher offers? All they’ve really done is ensure the house isn’t marketed to new people! For all we/they know another viewer could offer asking price tomorrow!

Just as we spent money to attend that viewing - if knowing that ^ these buyers start spending money waiting 48-72 hours if the offer being ‘accepted’ - knowing the EA has rung around all the other viewers who are still eligible to make offers... then that’s entirely at their own risk.

If I were them I would certainly be giving it a couple of days after EA notified all other viewers to see if any of them did now put an offer in!

Who cares about lying to estate agents? confused you can easily tell them you’ve sold a property elsewhere in the country, or world, or you’re a cash buyer and don’t need to sell anywhere.

you can, but if they are half way decent, they will ask you for proof. Letter from the bank or your accountant for example.

You can't just turn up with "I am a cash buyer" and think they'll believe you.

The amount of people who genuinely believe they are cash buyers because they are not in a chain - but still need a mortgage...

the buyer will have started appointing a solicitor and surveys.

Very unlikely.

Seriously you haven't sold your house and are aspecting your offer to take priority? Even if you sell in a week you have months ahead of you of surveys, house moves, possible buyer chain and delays. This other couple may have sold and be in rented so are instantly good to go.

If I was the seller and there was a few £K in it but an immediate move I'd go for the cash buyer.

DH had to take a day off work to view this house (around the availability of owners) we also drove a good distance- outlay!

That's just what you do when looking to move. Suck it up, just saying. You really need to get a grip, if your struggling now with the buying process then your going to find the WHOLE process (depending on how it goes, in your case with you involved) an absolute nightmare.

@Babypug

🤔 why are you so angry? Are you ok?

Posters- ‘The buyers will lose money’

Me- ‘Well they are aware other offers may still come in over the next few days- so if they chose to spend money now it’s not really any different to DH choosing to take the day off work or us choosing to spend on mileage. Why is it ‘part and parcel of buying and selling’ when it’s us but ‘a terrible thing’ when it’s the other buyers?

You- ‘why do you think your owed something? Get a grip’

Me - 🤔 ... that’s... that’s really not what I said.

The buyers know other viewers may now put in offers (hearing that they’ve had one accepted)- IF they instruct solicitors within 48 hours of acceptance then they’re choosing to take a risk and are no more entitled to their money back than DH and I are! It is indeed all part and parcel of house buying

That really makes me laugh @ThatMuppetShow. I have worked with and sold to a number of high net worth individuals and believe me they aren’t running around getting bank statements for estate agents 🤣

I have worked with and sold to a number of high net worth individuals and believe me they aren’t running around getting bank statements for estate agents

Perhaps not, but most HNWI are able to prove funds pretty quickly, one way or another.

Source of funds, as well as proof of funds, is also something that updated AML regulations require agents to verify.

not to put forward an offer