WWYD Gazumping

[dismum90]

A friend of my dad made an offer on our house over the asking price (he loves our house) as he is getting divorced. Said divorce turned nasty so he pulled out just before we were due to exchange as he didn't want us to loose the house we were buying having to wait for him to sort finances.

We've had an offer from a couple with a new born baby. We've accepted.

My issue is my DH told the friend we would honour his original offer if we hadn't exchanged. (I DO NOT agree with him for doing this)

Dads friend now settled divorce and wants to honour original offer (£30k over other couple). DH wants to accept as it is a lot of money, but I think it is morally wrong.

WWYD? Have you any experience on this?

For £30k my conscience would be not very troublesome.

I agree for that sum of money I would take the higher offer.

If the other couple have spent money and are proceeding normally I would keep to that. If they haven't spent money or appear may pull out I would go with friend.

It's 30k.
It's not really a question of morality. You've had a better offer. Give the new couple the chance to up their offer by the 30k - if they can't, sell to the original purchaser. buying and selling houses is a transaction; it often gets very emotional but really it shouldn't. You are perfectly within your rights to sell to the original person.

If you feel really bad give the couple a sum towards their expenses incurred from your 30k.

If the second couple have had surveys done and everything is proceeding I wouldn’t then start asking for more money.

If nothing has happened with the purchase yet then I’d accept the higher offer.

For 30k I'd do it. As long as he's definitely ready to go.

And I'd reimburse them for their survey if they've had it already and for their searches if they've had them. You're not obliged to do that but it's the morally right thing to do.

I mean, it’s morally iffy, but for £30k I would totally be able to sleep soundly at night.

That’s like £60k pre tax. Would you would for year(s) all in order to not upset a couple you don’t even know?

If they have paid survay fees and invited legal you could reimburse them that if it helped ease your conscious.

And I'd reimburse them for their survey if they've had it already and for their searches if they've had them. You're not obliged to do that but it's the morally right thing to do.

^I would take the 30k and definitely do the above

They haven't had anything done yet but I can look to give them some money for solicitors fees. Obviously give them the chance to put in a higher offer too - I just feel really bad!!!

For £30k I’d have no morals. It’s a business transaction, you sell to the highest bidder.

I was all set to say no until I read it was £30k more - that’s your moving expenses and then some... as long as he’s definitely ready I would go with him...

Take the 30k. But do make sure the new couple are not out of pocket because that’s the morally right thing to do.

Hmm why would he be paying 30 k more though? I’d be wary he’d pull out again

Take the money and apologise nicely to your new buyers.
Honestly!- how long would it take you to work and earn that £30k?

So they haven’t even paid for surveys or searches yet?

Take the higher offer. They could still really easily pull out and then you’d be gutted to have missed the better offer.

If you really feel bad you could chuck them a couple of hundred for lawyer fees (if they’ve incurred any?) but I wouldn’t bother tbh.

Morally it's shit, you clearly know that. But absolutely take the money. That's a significant sum most people! Make sure you reinburse couple for any money spent, they may not be massively out of pocket pre searches etc but may have let other houses go & have added stress of new born.

On a separate note why is mumsnet so cool with gazumping homeowners but so down on gazundering house buyers!?

@Kamma89 because gazundering generally waits u TIL all surveys and searches are done, all legal work completed and right up until the day before exchange, so the seller is basically forced to accept.

That's probably true to a point serbska, but I've seen loads of threads when OP gets a higher offer just pre exchange & they get a gentle telling off but are mainly told to look after number 1. When buyers do similar they are scum of the earth & going straight to hell I live in hope of the system changing before I ever have to sell!

His offer seems too good to be true, and you know what they say about that. Has he shown you the money?

Had the friend already incurred costs in surveys etc as well, if he was getting ready to proceed when the divorce got nasty?

I'd be mostly of the opinion that, while I'd feel sorry for the young couple, I've already worked with the friend and 30k is a lot of money (combined reasoning), so I'd accept their offer but quickly, and let the young couple know quickly so that they DON'T spend unnecessary money (any surveys or solicitors etc that they have already engaged can be cancelled before substantive work is done and only minimal fees are payable).