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Original poster

Scotland - offer accepted - now saying closing date!

25 replies

homereportwoes · 30/08/2018 14:36

Am fuming. Had offer accepted on a house we wanted yesterday. Went in with a price in the morning (£21k over offers over and £5k over Home Report value). Estate Agent got back to us late afternoon to say 'your offer has been accepted, get your solicitor to contact us). Solicitor duly contacted and sent through a fax to Estate Agent.

Come this morning, get another call from a different agent within same Estate Agents to say that another offer had come through from one of the Notes of Interest (who I would have assumed had been contacted yesterday and hadn't come up with an offer??) The estate agent had by law contacted the vendor again to let them know the offer from this other party and the vendor had decided to 'be fair' and put it to closing date at Noon today. So we were pitched against this latecomer.

I was gobsmacked and reiterated that our offer had been accepted but apparently that meant diddly shit when this other offer came in. Annoyingly (and rather conveninetly) the agent who had phoned and told me that our offer had been accepted was 'off ill' today so this was someone new to me.

I felt cheated and manipulated but decided to put in another offer £2.5k more but have just learned that the other party's offer has been accepted and that 'if it was any comfort, it was significantly more than ours'.

Am getting hacked off. We are in Glasgow and this wasn't even a particularly swanky area - it's West but not exactly West End. An ex-council house, terrace, no off-street parking and it would appear to have gone well over it's Home Report. I'm feeling a bit hopeless to be honest. If a house is on Rightmove at £160, its Home Report will probably be £15-20k more and then the purchase price will probably be more than 10% of this. So £160k becomes £200k. It's fecking ridiculous. We have not got the financial wherewithal to go 10% over the Home Report value because we can only get a mortgage to the Home Report value and would have to make up the shortfall from savings... which we've put into the deposit (with a bit left over for fees, taxes, moving costs etc.) Am despairing!

Luckily we have at least 3 months before we have to get out of our rental property (they're selling up and we can't afford to buy it).

Don't want to have any dealings with that Estate Agents again but they do seem to be one of the biggest agencies in this area which is annoying.

Sorry for rant!

OP posts:
JamMakingWannaBe · 30/08/2018 19:59

I'm sorry OP but in Scotland it's sealed bids and the seller, usually, understandably, accepts the highest offer. It's not the EA's fault.
Last year houses seemed to be selling at Home Report valuation. Now the market has changed and I know two, in Edinburgh, that have sold for 20% over this.
"What is meant to be won't pass you by"
There will be something else out there for you.

HomeOfMyOwn · 30/08/2018 21:35

That's awful for you and I don't understand how the Scottish system works but I wanted to say I honestly believe a better house for you will come along. My mother has always said "what's meant to be will be" and I've lost out on some houses that, at the time I really wanted and thought were the best I could possibly get, but I've always ended up with something better. So have faith something better will come along.

Original poster
homereportwoes · 30/08/2018 22:46

Thanks both. Have been on computer all night and the only things we can afford are either in horrible areas or require re-wiring, new central heating, treatment for woodworm or have a knackered roof and unfortunately we don't have enough funds to do this kind of work. Hoping for better things to come on market in next month - fingers crossed!

OP posts:
HomeOfMyOwn · 30/08/2018 23:39

Yes fingers crossed that you get something better soon.

This time round (after divorce) I thought I could only afford to live in a crappy area and after months of searching I'd found a nice house in an ok-ish area that I really thought was my best option. They wouldn't accept my offer (they'd priced it as though it was perfect condition but it needed some work doing to it, plus new flooring and redecorating). I was gutted. Little over month later and I got a bigger house in a much nicer area, with perfect off road dog walking straight out of the gate! It needs cleaning and decorating (nicotine staining) and new flooring but everything else is good order. I can't believe how lucky I was to get it and am so glad I couldn't get the other one.

borlottibeans · 31/08/2018 07:51

It's crap, isn't it. If everything is selling for over the Home Report value then surely the HR is undervaluing...the value of a house is what someone is willing to pay for it, no?

I'm bitter because I have just effectively paid a 10% deposit on my flat but for mortgage purposes I've only paid 5% and then chucked some more money in out of the goodness of my heart, so I've got a crappy rate.

Fannybaws52 · 31/08/2018 07:55

Try looking at the Southside? Mount Florida etc all still reasonable and you may get more for your money.

mrs2468 · 31/08/2018 08:07

Not all houses go to a closing date so hopefully you can get something else.

OP had the offer been put in writing and had it been accepted in writing?

If you have a note of interest you aren't automatically contacted if someone puts an offer in and the seller wants to accept it. Some EAs will to see if the can get the seller more but not always.

Good luck in your search

aquamarine1 · 31/08/2018 17:41

Hi Op, it wasn't a 4 bed terrace in Knightswood was it? If so, I'd get everything in writing through solicitors when dealing with that agent.

Piffpaffpoff · 31/08/2018 17:49

Sounds like the other people had already noted interest and so they do have to be told another offer is in and given the option to bid. The error was you being told your initial bid had been accepted so I’d be taking up a complaint with the estate agent and taking it to whatever professional body you can complain to.

mrs2468 · 31/08/2018 17:59

@Piffpaffpoff they don't have to be told. A seller can accept and offer and they don't have to go to anyone that's made a note of interest. Best practice would be that they do but an offer might be too good and they just accept it.

Piffpaffpoff · 31/08/2018 19:10

Ah ok. It’s been a long time since I bought on the open market and that was in Edinburgh, where the (market-driven) process seemed to be note interest immediately on anything you were slightly interested in so you’d be told when the sealed bids took place and then you’d decide whether to bid or not.

To be honest, it’s probably the stress of that one experience that has made me buy new-builds off-plan ever since!

Plannergirl9 · 31/08/2018 19:14

I live in Glasgow East end. There are a number of developments being build. 2/3/4 bed starting at £120k up. Might be worth looking further about.

Original poster
homereportwoes · 01/09/2018 00:23

Thanks all. The Estate Agent who accepted my offer phoned me up today to follow up on another property I'd viewed without realising it was me. Soon realised (possibly by my tone) and said 'Oh I didn't know it was you.... so, so sorry blah blah blah'. I just asked him why the hell he had told me my offer was accepted and he let the cat out of the bag that it wasn't even one of the Notes of Interest who had got back to them just another person who had been to see it and phoned up the next morning and wanted to put in an offer.

So instead of telling them that an offer had been accepted they must have asked them what they had been considering offering, or just didn't bother telling them that an offer had been accepted. The agent intimated that the vendors 'eyes were out on stalks' when they knew what the other party were offering as it was so much more than what we offered. And yes, aquamarine1 you guessed right on the agency and by all accounts they live up to the first syllable of their name!

*Plannergirl9^ We are restricted in some ways as we want our kids to stay at the same school and don't want their journey to school to be too long and complicated.

Got another 5 viewings this weekend. Onwards and upwards!

OP posts:
chchchnamechanges · 01/09/2018 00:31

Good luck, got a few friends who have had a tough time buying lately and then issues with chains etc. As said above, what’s for you...

aquamarine1 · 01/09/2018 08:12

Haha yes indeed!. Good luck with your search, it's tough at the moment. We've sold for a good profit but need every penny for onward purchase.

2015newstart · 01/09/2018 08:20

My sister had the same issue when looking West / West End. Some very kind MNers suggested Shawlands (which she'd previously discounted) and she found somewhere really nice, within budget and less of a frantic market. I've visited a few times and it's really nice with good transport links - might be worth a look?

ProseccoThyme · 01/09/2018 09:36

OP, it sounds like the Seller has decided to accept a higher offer (after initially accepting yours) & been a bit cheeky.

The estate agency must legally pass on all offers & acts on behalf of the seller. So they're probably following instructions.

Unfortunately it's a seller's market.

LizzieMacQueen · 01/09/2018 10:15

You can at least console yourself that you haven't paid out for a survey. In the 'olden' days that was the bug bear but at least with one standard Home Report it's a fairer playing field.

Good luck with your search.

< is it Jordanhill your kids are at? >

Original poster
homereportwoes · 01/09/2018 11:14

No LizzieMacQueen not Jordanhill. I think you have to register your child as a foetus and be practically living in the grounds to get your child in there Grin

OP posts:
aquamarine1 · 06/09/2018 15:48

Hi @homereportwoes just coming on to say a property in Loanfoot Ave come up for sale (same agent I'm afraid) but looks great.

Mistressiggi · 06/09/2018 18:22

That is shocking, we sold not long ago and did have offers but went to a bidding situation instead. No way would I have accepted an offer and then taken another one. Having said that, if the offer was 50,000 more or something it would have tested my conscience!

Original poster
homereportwoes · 09/09/2018 23:56

Thanks aquamarine have seen the Loanfoot one and agree it is a lovely property. Seller has only owned it for a year and has knocked through the dining room and kitchen and put French Doors out to the Garden from the dining room. Offers over £170k and home report of £190k. I bet it goes over the Home Report considerably. Only thing that slightly puts me off is that I prefer High Knightswood and it seems closer to Garscadden rather than Scotstounhill.

Also, we have had an offer accepted on a property! Trying not to get too excited after what happened last time. We offered 6k above the Home Report and not sure whether that was mad or not?! Still comes out at less than the Home Report on Loanfoot. The area seems great and really handy for the train station. Downside is it's a terrace without a pend and there's no extra storage like a cellar or an attic (it's the 3rd bedroom) We are going to have to get rid of so much stuff!

Thanks for looking out though Smile Hope you get something soon.

OP posts:
FloorLamp · 10/09/2018 13:48

High knightswood houses are far far better build and quality than low knightswood. Apparently they decided it cost too much by the time they got down here and cut back considerably on materials!

Original poster
homereportwoes · 10/09/2018 16:52

That's interesting FloorLamp didn't know that!

OP posts:
FloorLamp · 10/09/2018 18:27

I snapped this from a book a few years ago!

Scotland - offer accepted - now saying closing date!
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