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

[LaksaLover]

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

You are just looking. Keep a cool head. It is a huge investment and the location will determine how you are going to live for the next decade or so. You will always wonder about the second house if you don't. It may not be all that but you will only find out if you see it.

It absolutely is a business transaction - it takes a while and begins with the offer and finishes at exchange and completion.

The whole point is that all the info isn't available when you offer...hence subject to contract. Survey info comes to light, Byers/sellers circumstances, financial info.....plus in the time period between offer and exchange a personal crisis can happen to anyone in the chain or an external school to the country which alters what people want to do, or quite simply other better buying/selling options become available.

People get agitated about people looking at other properties or pulling out because they themselves want to exchange and complete.....but it takes 2 people and there absolutely is no obligation to do so until the point of exchange. People forget that. Some suggest people spend hundreds of thousands completing on a property that no longer suits them to avoid upsetting a vendor or because they are too cowardly to tell the EA they want to look at another.

Be matter of fact. Be upfront. Don't delay decisions longer than necessary. Do what is best for you. People way wish to tie in buyers or sellers from the pint of offer but they cannot and it is totally their right to pull out or look elsewhere. Most business transactions are not entirely smooth, but house buyers and sellers find it especially difficult because it is emotional and also they are mostly not used to engaging in business transactions.

In your situation I would definitely look at house B. If the vendors of house A haven't found anything you would be throwing good money after bad by getting a survey done/instructing solicitors etc while your own house is sold and ready to go.

Good luck and hope the viewing of house B goes well!

So just a bit of an update- Viewed the house, plus another with the same agent in the same area, but actually they've just confirmed that house A was actually a very good find.

I am genuinely surprised, but also relieved, as at least now I don't have any more moral dilemmas.

Also, just got a call this morning to say that the vendors of the house we offered on, have had an offer accepted on a chain free house! So hopefully, it's all systems go now 🤞

Well at least you know now and aren't left forever wondering what if....

Often a look at elsewhere confirms your first choice and makes you more committed - looking elsewhere wasn't wasted.

Hope you have peace of mind and all proceeds well now. You can only respond to info as it emerges.