Gazumping... Seller trying it on?

[Tash171]

Hi all,
Around 2 weeks ago I placed a 5k over asking offer for a lovey 4 bedroom house, the seller had 3 previous sales fail due to financial issues with buyers ect. I have more than proved the financial capabilities to completely the purchase this will all returned within 24 hours of my offer. Yesterday the vendor messaged me to state they have an offer of "£305K from first time buyers" this price would mean they are self funding 15k cash as the banks value is 290k. The seller had a follow on purchase deadline of middle of January - I have made a significant effort to meet this timeline even removing myself from a chain as I can use savings for this purchase and proceed with my sale separately.
I replied with a clear message that my offer is final and I will be removing it shortly if we are not proceeding, the seller came back trying to remedy.. starting to think there is no offer?? Would you proceed or pull out as she will likely play games again? I could just gazunder on exchange if she try's anymore games.

I’d be prepared to walk. And id be digging on all those failures.

And walk if the fuck about.

I think you've done the correct thing. It would also make me question the vendor's ethics. I would start viewing other properties and make sure their estate agent knows this.

No way could even a first time buyer complete by mid-January. I think the vendors are trying it on.

I would message back to say the offer stands until (Give date) and then you will drop the offer by £5000, if not accepted you will look elsewhere

CF trying it on

Keep looking for another house.

If I loved the house I would proceed- they tried it on and you stood your ground and you won, no need to pull out all together imo

I do love the house and think maybe I over shown my hand financially to be able to prove I could proceed and the CF has thought they could take advantage.

I'd do what Greenkit suggested.

Another vote for what Greenkit said

Umm.. the seller has message to
Confirm I would proceed at original offer!! I have set a deadline of the 3rd of January and will be fully prepared to walk away, the same style and layout of home is available in a nearby street if I could buy at the right price and refurbish.
Might call the EA as someone else and see what they give away, as if there really is a 15k higher offer I'm concerned the vendor will wait for the new buyer to show they can proceed and drop me after costing me a fair amount of money.
who loses a guaranteed sale to play games!

The stamp duty is over £5k which the first time buyer won't need to pay so they save on that. I would give a deadline for when your offer will be removed. Let her decide.

I can't see it getting done by mid January anyway.

Good luck

I do believe when an offer is made and accepted, it should stand in law

the seller has come back with a extremely patronising message, explaining how a sale of a property works! Decided to withdraw, will quite enjoy her begging when her new buyers realise the banks value and don't have the cash to supplement.

"her new buyers"

her imaginary buyers.

She decided to cut the EA out on my purchase, so I do think they might be trying to stuff her 😂

How can she cut the EA out of your purchase? She will have signed a contract with him. Unless this other 'offer' is not through the same EA?
Good for you for pulling out. Stupid vendor trying to play silly games for the sake of a few thousand pounds.

I drove past the house before booking a viewing after seeing it on Rightmove and ended up speaking the vendor... half my mind is offer 2k and see how it sticks as I'm living out of box at my parents until I buy something.. the road layout at my property has been change and since this time I have had 2 cars written off while parked.

Nope. Hold firm - dealing with people like this is an utter misery because they will fuck you about at every twist and turn of what is already a stressful process.

Come late January I suspect you'll see an upswing in properties on the market. People tend to get itchy feet in the new year and you also get couples splitting up and needing to sell as a result.

PS if car security is a worry get on Amazon and order front and rear motion activated dashcams. That way if someone ploughs in to you there will be video evidence of it and their registration details to take to the police.

the sale is back on at agreed price!!

Lol 😂😂😂

I think you've been had off, and you're clearly overpaying.

FTB often say that they can complete in a very short time scale, 99% of the time having no concept of the amount of work involved for the legal side. They are usually also the ones with help to buy isas, gifted deposits etc that add extra work as well. Mid January would only be achievable with a very motivated cash buyer with a local solicitor ready to go.

We did offer to completion in 5 weeks - which included the Christmas break. However it wasn't my first buy/sell rodeo so I knew the drill, and I was on the phone every day, multiple times per day, begging, pleading, shouting and crying to mortgage brokers, lenders, solicitors, estate agents and just about anyone else who could help.

It was the most ridiculously stressful thing I've ever done and there is no way we would have been able to meet the (stupid) deadline unless I'd done all of that. It would take a very tenacious and clued up FTB to be able to do it.

I would not trust this vendor

I remember being a FTB it was a difficult process and I was building a new build!
don't trust the vendor at all and can't wait to exchange! my solictor is very good! It's odd having a solictor reply to an email on a Sunday but as he's a freelancer he gets paid on completion (it's clearly quite motivating!) and I all ready had a mortgage offer in place for a different property.
hopeful for the 24th of January!!