'Bagsying' properties

[20thCenturyGhosts]

Is this a thing?? House went on the market, had viewings and got an offer over the asking price. Great, we thought. Then EA got back to us to say the couple had also put offers on 3 other houses this week, waiting for any to accept. It feels wrong- do people really do this?

We had accepted an offer on our house and made an offer on one to buy. That seller wanted to wait a few days (became 2 weeks) before accepting. Another property came up in the right area and we put an offer in as we knew it would be gone quick.
The first house was then taken off the market, I am glad we didn’t sit round waiting for that owner to make up her mind.

You can refuse the offer, it's not bagsying, they're obviously keen to get anything in the area.

If there are no other offers on the table you just have to wait and see what happens.

We put offers in on two houses, we liked both and would have been happy to get either, in a sellers market it pays to keep yourself on the table. Your solicitor will only allow you to proceed with one but sometimes if you aren’t in the game they don’t take offers from other people and you can miss out.

I suppose why not. I can see myself putting multiple offers on if more than one house came up on the market at the right time. An offer isn't a promise, it's just a starting point. I can see how it could be frustrating from a seller's perspective though, and I'd have been a little put out if we received such an offer.

From what the EA said, it sounds like they've not had an offer accepted yet, so I don't see the problem. Presumably you haven't accepted because you're waiting to see what other options you have - they're just doing the same.

We put in two offers on two houses at once- we’d missed out on several places before that, and we genuinely would have been happy, committed buyers with either one. Whichever vendor accepted our offer first, we would have gone with. The market’s crazy- don’t think you can blame buyer’s for keeping their options open at offer stage!

We have to wait until Wednesday as the EAs have booked another viewing in who couldn't make it this weekend so seems fair to let them look around. We were going to accept though. They have had 1 offer accepted and are viewing another property on Thursday. How can I trust their offer?!

I guess my concern would be that even if I won this "round" of property offers, would the buyers keep looking just in case "something better" came up?

I think it was good of the EA to tell you so you can make an informed decision of whether you want to accept it or not. Just because it's the highest offer, doesn't mean it's the best.

Good luck OP.

I’ve currently got offers on two flats and seeing another tomorrow, I’ve just left my top offer, the market is flying and my favourite is offers over so I’m likely to be outbid, there was a queue to view with 15 minute slots. The second one the vendor has been messing people around for months so she either accepts or doesn’t so I’m not waiting around when there are other potential options. If my favourite is accepted I’ll cancel the others and instruct solicitors straight away.

They don't sound like reliable buyers. They are entitled to do that but you are also entitled to not accept and wait for a more reliable buyer to come along. You'll know they'll be better as they'll actually want your house and thus, hopefully, be more amenable throughout the often difficult sales process.

@HopeHappy

I guess my concern would be that even if I won this "round" of property offers, would the buyers keep looking just in case "something better" came up?

I think it was good of the EA to tell you so you can make an informed decision of whether you want to accept it or not. Just because it's the highest offer, doesn't mean it's the best.

Good luck OP.

That's exactly how I feel. They offered over asking price which led me to believe they loved the place which more inclined me to accept the offer but now I know they are just chancing their luck. Who's to say if we accepted and they chose to go with our property they might then try and lower the initial offer? Just deflated as we were all set to proceed

@netstaller

They don't sound like reliable buyers. They are entitled to do that but you are also entitled to not accept and wait for a more reliable buyer to come along. You'll know they'll be better as they'll actually want your house and thus, hopefully, be more amenable throughout the often difficult sales process.

That's the issue for me- I want people to love our house as much as we do and it's hard to feel impartial about the whole thing

When selling you need to view it as a business transaction.

Lol this happened when we sold our last house. First offer was at asking price, but we knew they had placed offers elsewhere via EA, they then pulled out of all of them and cited ‘family emergency’ but then returned and wanted to proceed with ours when we were already well into the process with our buyer. Apparently they decided to go via another EA and were gazumped lol

Best thing to do is get the EA to keep the viewings going until they commit to your property.