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Original poster

Vendor put property back on market after offer accepted

30 replies

MelsBels · 07/03/2014 16:20

Hi All,

We have an offer accepted on a property, survey complete and mortgage offer approved. Only to find out from the Estate Agent that the vendor has now put the property back on the market as they feel the offer they accepted is too low. Apparently the vendor has said that if we offer 15,000 more the property is ours - the cheek of it!!

The property is back on rightmove but only if you search for properties 'Sold subject' to contract. It still says sold subject to contract but now says they are having an open house next week saturday. Just to add our offer is only 5K off of the asking price which was 460,000.

Has anyone else been in this situation and end up getting the property in the end or should we give up hope??

OP posts:

Pollyputthekettle · 07/03/2014 16:32

What arses!

I would be of the opinion to remove your offer as I would not want my hard earned money to go near those people. That's me though.

TimothyClaypoleLover · 07/03/2014 16:35

I to would be very tempted to withdraw your offer and look elsewhere but I guess it depends on how much you love the house and how long you have been looking.

HectorVector · 07/03/2014 16:41

I'm very stubborn and unless this was the house of my dreams and perfect in every way I would tell them to stick their house up their bottom! :( for you!

Original poster

MelsBels · 07/03/2014 16:42

We do love the house and started looking in Sept 2014. We have arranged to view some properties this weekend and are seriously thinking of withdrawing the offer but worried we are cutting off our nose to spite our face!!!

OP posts:

specialsubject · 07/03/2014 16:43

is this gazump or gazunder? Either way, while it is legal in the UK it is immoral.

in your position - don't offer any more. if they DO get a higher offer than decide, but there's no guarantee it won't happen again.

what goes around comes around...

HectorVector · 07/03/2014 16:48

Then tell the estate agent that you will not be bullied, your offer was accepted in good faith and if they have no intention of selling to you then you will be searching for property elsewhere. Give them a completion deadline.

10thingsihateaboutpoo · 07/03/2014 16:49

That's just pure greed! If it were me i'd say i want it withdrawn from the market or i'd walk away.

TimothyClaypoleLover · 07/03/2014 16:55

There has been a lot of talk in the press in the last couple of weeks about record house price increases in the last couple of months so this is not helping people trying to buy houses when vendors start getting greedy and things don't happen quick enough.

MrsBartowski · 07/03/2014 16:55

Could you tell them your offer stands for 7 days and after that you will withdraw if it's not accepted.

In the meantime make sure the agent knows you will not be upping your offer and that you are actively seeking alternatives.

nipersvest · 07/03/2014 16:58

do they have somewhere they are buying?, if they do, i'd call their bluff. if they don't have somewhere to buy or move to yet are they using this as delay tactics?

Original poster

MelsBels · 07/03/2014 17:00

They are currently looking for a property or piece of land. The Estate Agent tells me that they have been outbid on 3 properties and a piece of land!!

OP posts:

HectorVector · 07/03/2014 17:03

So the real issue is they're not really in a position to sell because they have nothing to buy... I really would walk away.

RiverTam · 07/03/2014 17:04

not your problem. Is there an ombudsman you can threaten them with? Very poor practice.

2plus1 · 07/03/2014 17:57

I had an accepted offer on a property a few years ago and I got a call from a different agent to let me know this great property was new on the market and was I interested. I informed the agent that it was under offer with my bid and supposed to be off the market. I decided to walk away as if I couldnt trust the seller to be honest with me how could I be sure they would complete the sale. Found a better property later.

expatinscotland · 07/03/2014 18:01

Walk away. They have nowhere to go and so will dick you around.

Original poster

MelsBels · 02/04/2014 19:41

Hi All thought I would give an update, Expatinscotland was spot on both the Vendor and Estate Agent have been messing us around. We had a call two weeks ago saying the vendor had found a property and wanted to accept our original offer. We then heard nothing until today when the Estate Agent tells us they have had an offer of £500,000 from a Chinese buyer. Apparently the gentleman has returned to China but is a cash buyer and will be returning to close the deal.....

OP posts:

SnowBells · 02/04/2014 19:53

Oh my - where in the country is this?

I thought this only happened in London!

Jaynebxl · 03/04/2014 05:23

So they're trusting a bloke who has left the country and where they have no guarantee he has the money over someone all set to go with a mortgage in place? I'd run a mile.

Roshbegosh · 03/04/2014 05:34

If you want the house you will have to increase your offer then. Cutting off your nose to spite your face by walking away after you are so close to exchange is not sensible and if you do go back to square one everywhere else will have gone up too. You need to keep a business head on your shoulders not flounce off in a huff and end up severely worse off. Think about what you want and how to get it.

Kakaka · 03/04/2014 05:57

Do you think prices have gone up in the last few weeks? Can you afford more?

I'd be tempted to offer 5K more if they exchange within 7 days. The offer would stand for 48 hours then we would withdraw the offer as there is another property we were also keen on. I'd probably also mention lack of good faith in the vendors.

Although I would check my solicitor could do it in 7 days first.

Good luck OP.

VivaLeBeaver · 03/04/2014 06:24

I would start making appointments to view other houses. Ideally ones on with the same agent. They will be on the phone to the vendor warning them like a flash and it might make them think.

Lagoonablue · 03/04/2014 08:18

Bloody hell. Some people have no scruples. For the sake of a couple of grand people are prepared to become all greedy and grasping. Just awful.

kilmuir · 03/04/2014 08:22

Thats very bad form. No wonder Kirstie and Phil always say vendor must agree to take property off the market!
Walk away

miramar · 03/04/2014 08:42

If you tell them your offer is withdrawn, either they really are selling to the Chinese person in which case that it's over anyway, or it'll be a show of strength from you and could turn things around . Either way I'm not sure you've anything to lose by withdrawing your offer..

PigletJohn · 03/04/2014 10:18

Keep looking, and try not to be emotionally invested.

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