Please or to access all these features

Add post

Watch this thread

Save thread

Start a new thread

Flip thread

Hide thread

My feed

Active Unanswered threads

Getting started FAQ's

Unanswered threads Acronyms Talk guidelines

Hide shortcut buttons

Talk

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Flip

1 2 3 4 5 6

Original poster

To not gazump the house I love?

133 replies

Nofoolfornoone · 24/01/2020 08:32

I viewed a property recently and fell in love with it. It needs a total refurb and I’m buying on my own as a woman in her 30s so I really don’t think the agent took me seriously. Anyway, I made a second viewing which has been cancelled as the owners have accepted a below asking price offer. At the time I had a second viewing booked in on my property who was chain free so I explained that to the agent hoping he may advise the vendor to wait a few days to see if I can make an offer. He didn’t ask what my offer would be. When I told him I was disappointed he said I can always make an offer once I am in a position to and I can do this right up to the point of exchange! Which I know is legal but pretty poor practice.

This was two days ago and I had a second viewing on my property yesterday and an offer made. I absolutely love the house and there is nothing else comparable but I really feel uneasy about gazumping so will likely just leave it and hope something else comes up.

Am I mad??

OP posts:

irefusetocare · 24/01/2020 10:16

I think that there are agents and agents. If they are a decent agent it might not be because they didn't take you seriously - lots of 30s singletons do up houses - but because without an offer in their hands they weren't prepared to do the leg work - ie they wanted an offer from you to proceed with (unless I misunderstood what you said)

From a karma point of view I was with you in your original post - but you could make an offer which you can say can only be passed on to vendors if problems arise with the first offer. I was made an offer which I accepted and then after some months the buyers shared that they didn't want to proceed until they had sold their flat - which was a bit cheeky - I said they had to proceed now or I'd be putting it back on the market - and they did proceed but in that sort of sitch your offer might then be taken up and you never know it might turn out to be good timing for you.

Mildura · 24/01/2020 10:16

Oblahdeeoblahdoe

Are you reading a different thread to me?

Where has it been confirmed the EA has withheld anything from the vendor?

viques · 24/01/2020 10:17

mamboitaliano I hope you remember that when you come to sell , and blush!

A vendor is there to maximise the price on their property, they are not there to pander to the emotional needs of their buyers or take a financial hit to make the buyer feel better.

DoubleTweenQueen · 24/01/2020 10:17

The OP seems to have been put off making an offer, so technically the agent has not omitted to pass anything on. OP needs to make a decision, pull up her big girls pants, and get in there - in writing - email good - to EA, who will then be obliged to pass on, but sounds fishy to me so I would go direct to the vendor, and also state to get in touch if they still prefer first offer but it falls through.
Does seem odd to me that the vendors would accept an offer under the asking price while other potential buyers were still in the process of viewing - second viewings at that. I know it’s a very slow market but would expect taking it off the market immediately for asking price offer in that case, only below if no other interest - as OP has said, the accepted offer has a chain.

AryaStarkWolf · 24/01/2020 10:17

If you love the house that much go for it.

BinningTheBooze · 24/01/2020 10:17

It's far too early in proceedings to feel bad about it! We were in a very similar situation and were due to have a second viewing. They accepted someone else's offer under the asking price. I offered asking price straight away and the estate agent was like a rabbit in the headlights and said no... I don't think they ever told the sellers we were booked for a second viewing and estate agent clearly didn't put forward our offer to pay the asking price 🤷‍♀️ I'd have been angry if I was the seller!

We bought elsewhere. For under the asking price.

Mamboitaliano · 24/01/2020 10:20

mamboitaliano I hope you remember that when you come to sell , and blush!

A vendor is there to maximise the price on their property, they are not there to pander to the emotional needs of their buyers or take a financial hit to make the buyer feel better.

Decency is a thing. If you accept what you feel is a fair offer on your house, it's ok to stick with the agreement you've made. If it's a 'financial hit' then don't accept the offer in the first place. I know plenty of people who have turned down better offers for the sake of just being good humans. Not everyone lives to your standards.

Mildura · 24/01/2020 10:21

Does seem odd to me that the vendors would accept an offer under the asking price while other potential buyers were still in the process of viewing - second viewings at that

A second viewing from a prospective buyer who was not in a proceedable position, at the time the 2nd viewing was cancelled and the other offer accepted.

AllideasAndNoAction · 24/01/2020 10:22

Yes the SSTC is pointless. It’s either sold in which case removed it, or it’s not, in which case entertain my enquiry with good grace.

They do it to keep up their presence on Rightmove and showed pOtential vendors that they are selling places.

Unless they are prepared to entertain further enquiries there is no benefit to keeping it visible and they should remove it. But they don’t.

Sometimes houses stay on Rightmove months after completion. It drives me mad, it’s so frustrating when you are looking and making enquiries to be brushed off with ‘it’s under offer or sold subject to completion’ or ‘it’s already completed.’ when you phone up. Stop bloody advertising it then!

MummyFriend · 24/01/2020 10:29

Go put an offer in OP! We're all rooting for you. If the agent doesn't pass on your offer to the vendor then pop over there yourself and have a chat with them. They're more likely to accept your offer anyway if they've met you and know how much you love and want their property. Let us know how you get on.

Ooh, I love a good property thread!!

DoubleTweenQueen · 24/01/2020 10:31

Mildura - OP may not have been the only other interest either. Seems the agent has been in too much of a rush, and not tested the market properly. OP advised the agent she had a second viewing booked on her own property at the time of viewing - a chain-free-potential second viewing. A matter of days and she was in a very strong position.

KeepThosePlatesSpinning · 24/01/2020 10:32

OP, make the offer but, if the vendor accepts it, demand that the property be taken off the market so they can't keep showing it to potential purchasers "right up to completion". The current purchaser should have demanded this as a condition of their offer.

lottiegarbanzo · 24/01/2020 10:32

The thing is Mamboitaliano what you'd be asking the seller to do, in this situation, is to make you a substantial cash gift. Why should they do that? How could you be so cheeky as to expect that?

I've been the seller in this situation. Accepted a lowish offer (after a long period of market stagnation, when it was just starting to pick up and having any offer at all was a relief, albeit a slightly disappointing one). Within a week or two, I had two higher offers. No survey had yet taken place. I was aware the first buyer couldn't afford to go higher and would miss out as prices started to rise again (so would have to go for something smaller).

In the end though, the decision I had to make was 'can I afford to turn down - in effect give as a gift to the first buyer - £5k?' I thought about how long it would take me to save up £5k. The answer was a really long time. It was a significant amount to me and my family and I couldn't afford to play Lady Bountiful to a stranger.

LolaSkoda · 24/01/2020 10:36

I think that this early on in the process, the financial damage done to the other buys would be small or nothing at all.

But... in life, are you someone who is ok to step on others to get what you want? Because that’s how I would feel if I put an offer in at this stage.

I try and view buying a home as a cold hard business transaction. But in reality, once an offer is accepted, in my head I’ve already moved in, decorated and am living my best life in the new house.

It’s up to you what you do. A PP suggested letting the EA know that you’re interested if the sale falls through.

Bluntness100 · 24/01/2020 10:36

I don't really understand uour issue. Make your offer on condition it's taken off the market. As such you don't risk other offers.

Clearly that was not a requirement of the current potential buyers or not one that was acceptable as there may be concerns about their proceedability.

Just make your offer under that condition. It's not a big deal

lottiegarbanzo · 24/01/2020 10:46

I try and view buying a home as a cold hard business transaction. But in reality, once an offer is accepted, in my head I’ve already moved in, decorated and am living my best life in the new house.

You need to try harder. You're being very foolish to invest that much expectation in a transaction that could go wrong at any time before completion.

viques · 24/01/2020 10:48

mamboitaliano

It's good to know there are better people in the world than I am, warms my cockles etc etc. As before I really hope you can hang on to those high moral principles if it comes to making a decision about giving a total stranger 5 or 10 thousand pounds of the equity of your house.

LolaSkoda · 24/01/2020 10:51

I’m fine with my current approach, thanks?!

I don’t approach a house sale solely with my heart or solely with my head. It’s a mixture of both, because I am merely a human.

lottiegarbanzo · 24/01/2020 10:53

Viques I suspect that, at that point, the people who wish their feelings as buyers to be prioritised - will be prioritising their feelings as buyers.

They will already have 'mentally moved in' to the house they're offering on, so will need every penny of their well deserved equity, plus any profit, to pay for that.

sunshinesupermum · 24/01/2020 11:00

OP At this stage of the process I would go for it. The estate agent is supposed to let vendors know of any offers and isn't doing his job properly. The sooner the better before the other buyer spends any money. Good luck.

Titective · 24/01/2020 11:03

I wouldn't see this as gazumping but yes that EA is not working in the best interests of the seller. Fixed fee perhaps? So sold is sold regardless of the offer.

I would make the offer and see what the seller says. You're in a good position.

By the way I did this for my first property. I'd been looking for 9 months and known to all the local agents as a serious buyer. I was furious the agent hadn't contacted me before it went to market and due to my job I could only view on weekends. Someone saw it before me and put in a below asking price offer. I still insisted on viewing it (it was perfect) and made an asking price offer. It was accepted and it became my first home.

ItIsWhatItIsInnit · 24/01/2020 11:06

They accepted someone else's offer under the asking price. I offered asking price straight away and the estate agent was like a rabbit in the headlights and said no... I don't think they ever told the sellers we were booked for a second viewing and estate agent clearly didn't put forward our offer to pay the asking price 🤷‍♀️ I'd have been angry if I was the seller!

That sounds very suspect - as does your situation, OP. It's a well-known scam in estate agencies to pair up with some developer, pretend to the sellers that there was no other interest on the house, and sell it to the developer for a bargain price. Then the developer does it up and re-sells it via the same agent for loads of profit. The EA gets 2 lots of commission too.

Mildura · 24/01/2020 11:07

The estate agent is supposed to let vendors know of any offers and isn't doing his job properly

As yet the OP has not made an offer for the estate agent to report.

Waterandlemonjuice · 24/01/2020 11:09

Why would you feel bad about making an offer on a nouse which has only just gone under offer? It’s early days, the other buyers won’t even have spent any money yet, ask the agent to present your offer. Why wouldn't you?

chocorabbit · 24/01/2020 11:12

If it makes you feel any better when we were buying a house both the previous house we bought and the one we finally b0ought had multiple offers accepted at the same time. DH had to ask both times if it was going to be a race to survey by many different buyers or just our offer had been accepted otherwise we wouldn't have found out. In fact, the first time it was flatly denied and only after another buyer managed to bring a surveyor before us did we find out

Flip

1 2 3 4 5 6