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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

"Offers in excess of" for property

48 replies

MotherHubba · 06/03/2020 14:27

FTB, in a dilemma...

Seen a house which is listed as in excess of £x. I rang the estate agents and turns out someone else has already made an offer for in excess of the price. I really like the place - and DH/I are cash buyers with no chain...

What is the protocol for these cases? How much more would you expect to offer?

Thanks!

OP posts:
FamilyOfAliens · 06/03/2020 16:05

Of course she doesn’t. But like other PP I’m interested to know why so one would shit on another buyer in that way.

Derbee · 06/03/2020 16:06

When we had our offer accepted, the estate agent stopped advertising the house. So the fact that it’s still being advertised is strange.

Marnie76 · 06/03/2020 16:07

I’m sure it’s the other buyers dream house too. Would you be ok if someone does the same to you one day?

DropYourSword · 06/03/2020 16:08

Presumably because they really really want the house! It’s not that mysterious.

arethereanyleftatall · 06/03/2020 16:09

No. You don't do it. Because gazumping is a nasty thing to do.

LoveFameTragedy · 06/03/2020 16:10

The bad guys here if there are any are the owners. They don’t have to accept your offer.

DropYourSword · 06/03/2020 16:12

Agreed that gazumping isn’t particularly moral. But I agree with @lovefametragedy that it’s the sellers who ultimately are the “bad guys” in a gazumping situation

fikel · 06/03/2020 16:13

Gazumping is not well regarded, even among most EAs these days. Let them know your interested if sale falls through. Always better to do the right thing

Original poster
MotherHubba · 06/03/2020 16:27

No! I'm not intending to be the gazumper

Interestingly the house is still on the website and not shown as sstc or similar. Unusual.

OP posts:
SinkGirl · 06/03/2020 16:31

Maybe they’re not in a position to proceed as they haven’t sold yet? L

LoveFameTragedy · 06/03/2020 16:33

I would seriously doubt if that sale exists then OP. Maybe they are chancing it!

Bigoldwimp · 06/03/2020 16:36

You are not gazumping If they have made an offer but it hasn’t been sold. Go in with an offer that’s based on what youve researched and be wary of commission hungry agents

Original poster
MotherHubba · 06/03/2020 16:51

thanks - the EA told me they were waiting for the solicitors' paperwork to be received, so confused!

I'll go with an offer that I have researched in that case... It's still on the website showing as on the market as at 5pm Friday - WTH

OP posts:
NC4Now · 06/03/2020 17:06

I would steer clear of that seller. If they are still taking offers once the buyers have instructed solicitors and started to invest they could just as easily do it to you.
Make your offer if you insist, but unless they agree to stop marketing it (which they haven’t so far) then it’s not yours till you’re unloading boxes.
Can you afford that, financially and emotionally?

Pinkbunny2811 · 06/03/2020 17:07

Just make your offer and position known to estate agent and get them to forward it on to the seller if the other sale does not go through.

We were lucky with ours but I asked it to be pulled off the market once we'd agreed a price.

Alsohuman · 06/03/2020 17:09

Don’t gazump. There’s a special corner of hell for people who do that.

GinDaddy · 06/03/2020 17:13

Easy for people on here to kick the buyer who's here to account for herself.

Not so easy it seems for people to criticize the greedy, inconsiderate sellers who are happy to string someone along whose offer they've accepted, while keeping an eye out for higher offers.

Estate agents should be there to manage the process fairly. Instead in reality they're out to get the highest price.

If they know there's huge demand on a property, they may play that game, and ultimately their primary client (the seller) is happy with top whack.

So don't blame OP here the buyer. Blame the avaricious seller who is happy as I said to string anyone and everyone along until they get what they want.

FamilyOfAliens · 06/03/2020 18:07

No! I'm not intending to be the gazumper

So you’re going to look for another property then?

Alsohuman · 06/03/2020 18:15

So don't blame OP here the buyer. Blame the avaricious seller who is happy as I said to string anyone and everyone along until they get what they want

It’s the OP who’s prepared to try and outbid the existing offer instead of accepting she’s missed the boat and going to find another house.

GiveHerHellFromUs · 06/03/2020 18:23

If it's still for sale on the website put a bid in. It's not gazumping if it's not SSTC - it might just be the EA playing hard ball.

Myimaginarycathasfleas · 06/03/2020 21:07

The EA is showing you round in case he needs a buyer in reserve. In reality it sounds like the offer has been accepted.

Changing the listing from available to SSTC is an admin task, there might be a slight delay but that doesn't indicate that it is actually available.

Be careful, OP, you might be being played.

TheCatServant · 06/03/2020 21:13

Gazumping is not a nice thing to do

Alsohuman · 06/03/2020 21:15

It's not gazumping if it's not SSTC

Yes it is. An offer’s already been accepted, it’s irrelevant whether the website’s been updated.

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