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Original poster

Viewing a house when you have already had offer accepted on another. Bad house buying karma?

30 replies

LaksaLover · 24/01/2020 11:18

Hi,

We had an offer accepted on a house just after Christmas and we had sold ours a few weeks before that. Our buyers are BTL investors, so chain free.

We found a house we really like, which could be a long term house- i.e, 10 years plus, but only if we could do work in the future. It's already top of our budget, hence "future" work.

I have to admit, I have been having second thoughts. It's a bit more rural than I initially wanted, but is a nice area, with a crucialpub, shop and primary school.

I think I'm mainly concerned about being a bit too far out from the action, although we did genuinely want to be somewhere quiet and with clean air- opposite to what we have now. I'm also concerned we won't be able to afford to do the work we want to do or if we can, we could potentially end up pricing ourselves out of the street and so lose money.

Anyway, something's popped up today which is under budget and in a better location, in terms of amenities and popularity, so a good investment. It's probably got more potential and we could afford to do the work. I'm so tempted to view, but here's the main rub- we've already had a survey done on the other house, so at this stage, we would already be losing money. The other issue is one of morality. Is it just a really bad thing to do? Do agents talk? If I arrange a viewing, is it likely to get back to their EA?

I'm so torn. The other thing concerning me is that the vendors of the house we've offered on, are struggling to find and could end up being part of a big chain. This other house is chain free.

What are your thoughts? WWYD?

MTIA

OP posts:
isseywith4vampirecats · 24/01/2020 11:32

I would go for a viewing what will you lose if you don't like it half an hour of your time, and it sounds a better location, and you can afford to do the work on it, as someone who is living in a doer up at the moment and getting frustrated with how long everything takes and daily saying god I cant wait till this or that is done , house sales fall through all the time and you are quite soon into the process so all you would lose would be the survey fee, not a lot in the scheme of things , we looked at a property we loved but the seller messed us around and when a different one we liked came up we went to look at it made an offer on the spot and withdrew all negotiations for the first property

isseywith4vampirecats · 24/01/2020 11:33

also didn't spot bonus chain free so much easier to buy

Mumdiva99 · 24/01/2020 11:36

So you've had a survey done on a house where the owner isn't yet ready to leave? (did I understand that correctly - or will they go into rented if they can't find anything?)

If they are holding up the chain because they have nothing to move to then a) you shouldn't have spent any money as they may decide not to move and b) you absolutely can view other properties because if you don't get the chain moving you might lose your buyer.

Sound like the second house is a good deal - chain free, cheaper, better location.....you'd be mad not to look. And take the loss of the survey fee as a learning not to spend money too early next time.

MabelCloth · 24/01/2020 11:41

Look at the other house. If you like it better, go for it.

This is way too big an expenditure and life commitment to meekly compromise.

Re the first house, I would strongly caution against anywhere where you have to be a taxi to kids until they are 17 and then need a car to be independent.

Country lanes without pavements are a nightmare, narrow windy lanes not my choice for teens to cycle on.

A village with walking distance to shop, pub, school and bus stop = much better quality of life.

raindropsfallingonglass · 24/01/2020 11:42

I think that if they've still not found anywhere to go to then you're totally fine to be looking at other things. Our house buying system is ridiculous and flawed, and causes a lot of heartache, but that's no reason to tie yourself to a house that doesn't quite meet your needs. How would you feel if you didn't look at this house, but in a few weeks' time the vendors pulled out because they just can't find what they want. House sellers and buyers are fickle.

MabelCloth · 24/01/2020 11:44

(Was brought up rurally, my nieces and nephews live rurally, the isolation seriously hampers independence and social life for teens. My siblings cannot have a glass of wine on Fri / Sat eve as they are in taxi duty, they enjoy clean air..... except they have to turn on an engine and burn fossil fuel to get to the corner shop...)

puptent · 24/01/2020 11:48

I posted on the other thread about the gazumping but honestly, all this angst about the right or wrong thing to do. It's a massive purchase and you've got to live in it so really, find the house that works best for you, however you get there. A viewing of the new house may reassure you that the other house is indeed right for you. Or not, in which case, both are good outcomes.

Echobelly · 24/01/2020 11:52

Yeah, look at the other house!

azigazigah · 24/01/2020 12:10

No sentiment in business. You're within your rights to change your mind. I'd definitely view the other house.

Original poster
LaksaLover · 24/01/2020 12:14

Thanks so much for all the replies and insights. Has brought a bit more clarity into things.

I think if it weren't for the possibility we discover we don't like house B, house A was better afterall, then word gets out and the vendors pull out because we aren't trystworthy buyers/too risky, I'd be calling the agents for a viewing now.

It's a risk.

OP posts:
cittigirl · 24/01/2020 12:21

Seriously the risk is likely non existent. Go and view the house. I think you'd be mad not too quite honestly. So much more going for it from what you say and chain free which is a big plus.

Original poster
LaksaLover · 24/01/2020 14:30

So how does it work, in terms of disclosure? I'll need to be transparent and tell the EA that we've already had an offer accepted, won't I? They always ask for your details, position etc.

OP posts:
raindropsfallingonglass · 24/01/2020 16:48

I don’t know if you do, especially if it’s a different agent. Unless they want to do money laundering checks before putting an offer forward, then you might need to. But just to view, I don’t think you need to say anything. You will need to remove your initial offer fairly promptly though

Ariela · 24/01/2020 17:48

I would view the other property, it may not suit anyway.
If it does and the other property is still not in a position to proceed as they've not found anywhere, I'd be apologetic but explain you need to move or lose your buyers and you have found a chain free one. And maybe give a copy of your survey of the first property to the vendors, might be useful to them.

Squirreltamer · 24/01/2020 17:56

I’m torn on this one as I’ve not been in this position myself, but I’ve had others mess me around.

Doubt the agents go into specifics.

“LaksaLover arranged a viewing on the barn today.”

“That’s funny she put an offer on the old chapel last week.“

Sure people only get mentioned if they’re a pain or stand out character otherwise you’re just another number to them. Soon as the money is handed over they won’t be your best mate no more.

I’d view, as you’re having second thoughts and your vendors haven’t found anywhere yet. What if they don’t find anywhere? Are they still going sell to you as they feel obligated?

If you were ending searches and getting towards exchange I’d have the opposite opinion.

Whatever you do act fast and remember this new house if you love it may fall through. House buying is so stressful.

Mumdiva99 · 25/01/2020 05:54

You can be upfront with the EA. We've had an offer accepted, we've accepted an offer, but the vendors have failed to find their new property. So we are looking into alternatives at the moment.

Mumdiva99 · 25/01/2020 05:56

If it gets back to the EA you are buying from then they might start to put pressure on the sellers for you. And if it gets back to the sellers they might try to hurry up. Anyone that is in a position to move - like you are - has the strongest position. If the first vendor rejects you they have nothing....and might struggle to get another buyer.

VivaLeBeaver · 25/01/2020 06:48

IME agents talk and it will get back to the other agent so be careful.....guess you could get a friend to make the appt and just accompany them?

When we bought our current house we’d initially offered on a different house but offer wasn’t accepted so we offered on house B. House A the sale fell through and the agent rang me to tell me and talked me into going and having another look. Both the agent and the vendor of house B found out I’d been back to look at House A and the vendor in particular was not impressed. Luckily for me it was a slow market and she had no other interest otherwise I think she would have considered selling to someone else if there had been another interested party. We did did stick with house B in the end.

VivaLeBeaver · 25/01/2020 06:50

But from a morality point of view I think that if you’ve potentially found a better, cheaper house you have to go and see it. If you like it better then you pull out the first one. It’s too important a purchase to do otherwise.

MabelCloth · 25/01/2020 08:52

Is the same agent selling both houses ?

People are finding it hard to find buyers at the moment. Your house is under offer with no chain. You have done surveys. Take the ‘in case other house falls through’ line if you really have to say anything.

WombatChocolate · 25/01/2020 09:39

You have made an offer which has been accepted but you are not fully committed until exchange - that is how it works. Nothing is certain until then and that is a reality people have to live with in the UK housing market.

This is still a relatively early stage if the seller hasn't got a buyer. You can go and look. If you pull out the financial loss is really to you or mostly to you and you should be prepared to bear it if the new house is better......daft to move to somewhere you don't really want to go because you've spend £1k on a survey.

This happens all the time. Agents know it and sellers know it. In an ideal world Agents and Sellers would find everyone who has an offer proceeds to completion, but it's an imperfect market - lots of new information appears during the process which changes things - info from surveys, new properties which appear on the market, changes to market conditions, external things which happen to change buyer and seller circumstances. These are all realities.

Anyone who says that because you made an offer, you must proceed to completion is daft and not acknowledging the realities of a market situation which has information which emerges and changes during the process. People who insist it is wrong are usually sellers or those who have had people pull out in chains - obviously no-one wants these things to happen, but they cannot be avoided.

Don't worry about the agents. Looking isn't doing anything wrong. If anyone asks, be honest and if you're going to pull out, do it quickly and honestly.

Sometimes the operfect property comes onto the market a couple of days before someone is due to exchange on something else. They and their seller will have spent hundreds or thousands.......but to proceed with a spend of hundreds of thousands for something you don't want is foolish. Again, the reality is that unfortunately all the information you need and that might be available by the time of exchange isn't available at the time you make your offer - it's what makes the housing market imperfect and difficult for buyers and sellers. We have to accept that.

Neednewwellies · 25/01/2020 09:43

Just say you’ve offered on something else but the sellers have failed to find somewhere, your buyers are getting twitchy so you’ve decided you need to look at alternatives that are in a position to move.

NanooCov · 25/01/2020 09:51

Just be honest. You've had an offer accepted on another property but the vendors are not in a position to move and this place looks like it may be more suitable. The vendors of the original house wouldn't have much to complain about given they haven't found anything yet.
For what it's worth I viewed another property after we'd had an offer accepted but it just reinforced that the first house was best. Been in it 6 years now.

Original poster
LaksaLover · 25/01/2020 14:58

Thank you. Some really interesting posts. Has definitely given me food for thought.

I think I'm going to hold my breath and give the agents a call....

OP posts:
carly2803 · 26/01/2020 20:21

its a business transaction. feelings dont come into it

view the other house, it might be a ton better.