Will I be guzumped? Advice...

[flowers82]

Hi everyone,
Looking for some support.
We put an offer in on a house recently and it got accepted. We potentially have a really great deal. A bargain.
I had this unfortunate encounter yesterday.
A friend of mine introduced to me a friend of hers and we got talking about houses.
She got really excited when I said we were buying a property in a particular area. So I assumed she lived there. Actually I was at a toddlers play group not really concentrating on the conversation but on my toddler. The next thing I know she asked me what offer we put in and I just straight out told her (idiot!!! I wasn't on the ball). The next thing I know is she then tells me how much she wanted that house and they went round to view it twice etc.but they didn't put an offer in because they weren't in a position to. Their house wasn't under offer a few weeks ago. But then she told me it now is. She looked amazed at how cheap we got it.
Anyway we went for coffee with our mural friend after the play group and have tentatively arrange to meet next week with the kids.
I am absolutely paranoid that she's going to put an offer in above ours. In addition I am having to wait to put the mortgage application in due to taking off the childcare vouchers scheme. The vendor and estate agent are on with this and the land search's with the solicitor etc take a while.
I'm so annoyed with myself for blurting our the price.
We are not in a chain and have the money in the bank etc.
We live in a small town and I am likely to bump into her again and know the same people.
I'm feeling pretty stressed. What do you guys think?
Advice please...
I wish I never met her! She even told me she had been calling the estate agent to see if it would be back on the market... oh dear...

Well what is done is done! All you can do is hope she doesnt do this, but she has property to sell so that puts her at a disadvantage. Ill keep my fingers crossed for you - good luck.

Well you might be ☹️. But whether a new offer is accepted will depend on the vendor. We sold for a slightly lower offer donkeys years ago because the higher offerer was a bit flaky.

The only way to protect yourself is to do what I did. Make them sign a 'lock out' agreement from the moment they accept your offer. It meant my vendor had to take their house off the market immediately & not show it to anyone else in the meantime. They also couldn't accept any other offers until after our agreement timescale was up. Worked perfectly for us.

Thanks everyone. I can believe how unfortunate this is!
Stress levels through the roof!
Think I will take out insurance in case we are guzumped. At least we can get our money back.
I will speak with the estate agent about a lock out agreement. Hopefully the vendor will agree and we can do it quickly.
It's annoying waiting for my payslip just to do the mortgage application that we haven't done. Thinking we should just apply now with my current payslips and get it done.

Also wish I had known about these things before... like lock in agreements!

We never got guzumped by the way and now own the house.

Thanks for updating flowers82, I do like a happy ending