Gazumping - would you?

[lillylop]

I accepted an offer on property 2 months ago. The estate agent contacted me this week with another higher offer which I declined. The buyer came back with another offer which I also declined. I've now had a third offer which is 12k above my accepted offer and my agent believes they will go higher. On the one hand I dont feel comfortable with this, I feel obliged to my orginal buyer and a dont really want to start from scratch. On the other hand it's alot of money, my partner says all fair in business and its daft to feel obligated to someone I've never met. Normally I'm pretty good at making decisions but I really don't know what to do. Help.. thank you

@ZacsAndMe that must have been so stressful at 7 months preg!! Pleased you got the house in the end.
Just shows that higher offers during the process aren’t always the best!

If be wary of taking an offer from someone who hasn't even viewed. I reckon also they'll drop the price just before exchange.

No, I wouldn't do it. When we accepted an offer on our last house, I said to the buyer that I most certainly wouldn't do it if we had a better offer. We were made another offer and refused it.

It's in the vultures, sorry, estate agents interest for you to do this. More money for them.

If it was for example a first time buyer on a tight budget or someone's dream home I wouldn't. But investors are another matter. They usually have plenty of money and it's business to them. They'll just move on if it falls through.

@Moonshine11
Thank you.

Moved in two days after having an episiotomy, we had no furniture or anything apart from baby stuff...but that's a story for another day

Would you be happy to be 2 months in only for the owners you're buying from to drop you because some rental investor has dangled a carrot?
Probably not.

Don't be awful to your buyer.

Solicitors will not accept a non return deposit, we asked to test our buyers out, gets too complicated due to money laundering laws etc.

Like @ZacsAndMe I have been on the receiving end of being gazumped when I was a FTB, and they too came back after a few weeks to say they would sell to me as their new buyer feel through. But I was already committed to another flat by then.
I'm an investor now, and put in as much money getting surveys, searches and a solicitor, so I don't see why because it's an investor it makes it any more ok.

If it’s an investor who hasn’t even viewed the property I would be tempted. Depends if you are in a hurry to move though.
You’d be annoyed if you sell and the investor sells it on for a profit a few months later.