AIBU if I accept a higher offer

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Accepted offer from lovely young couple at full asking price. A lady also offered full price, but I thought the couple were keener and I really liked them so chose them (neither would go higher at the time). Today the lady offered 50k extra. So conflicted now, don’t want to let the lovely couple down, but - 50k! Don’t want to go back on my word, but - 50k! Would prefer to see the couple living in my house, but - 50k! Would I be an awful arsehole if I accept the higher offer now? What would you do?

How would you feel if she gazumps you a day before completion? Because that is a real risk of people offering high, especially in this economy.

She’s full of shit.

She wouldn’t go higher before but suddenly has an extra £50K?

She’ll drop it to the asking price five seconds before completion. Like a sniper on eBay.

And why a 50K jump? Why not something sensible like £10K or £15K?

I smell a rat.

Is your house reasonable priced? When we offered here we had to sign something stating that if the valuation was lower we would fund the difference. Obviously just all tactics, but it was in response to people offering high to get the offer accepted then dropping the offer based on the mortgage valuation.

Personally I'd go for keen in this market, but it's a tough decision!

Her reasoning was she assumed she’d find another house, but after looking round there’s nothing else she likes and her sale is already going through so she regretted not offering higher on mine originally.

She offered 50k because she (rightly) thought that if she only offered £10k higher I would have told her she’d missed the boat, so she wanted it be large enough that I couldn’t say no.

But yes, a later price drop is a concern.

How long since you accepted? How far down the line are you with your current buyers? Have they incurred any costs for searches / surveys yet? If so I would feel terrible gazumping them.
However I do understand the dilemma, what is £50k as a percentage of the asking price?

What an awful person she must be, knowing that someone else is excitedly progressing with their dream house but offering anyway.

I suspect she thought the original request for best and final was a ploy and you'd just accept her offer.

If you go for it I'd push for a fast exchange because she's going to knock you down again - after survey, day of exchange, 'because the market has changed.' She won't think twice about it or about you because she's already shown you that she is dishonourable.

She will likely still be looking though OP, good chance she will find something else and drop out. Stick with the couple

No I wouldn’t trust £50k jump sounds completely ridiculous actually. Unless it’s only a tiny % of the value..?

£50k?! who does that?! She should have put in a better final offer if she had that going spare then.

I would... its 50k after all.
But I would make it a non refundable deposit to avoid the gaazundering possibility.

Oh god take the £50k! If you are sure it’s genuine of course. you have to do what’s right for you.

This. If you accept it (and 50k is a LOT to turn down), make it a non refundable deposit.

We did, for 15k higher on a 185k house. It was only the day after the first offer so no costs incurred.
I phoned the lady myself to tell her also. She wasn't happy but she asked how much more they had offered and I told her, I think she was still understandably upset but understood too.
In the end it was the difference between us moving or not because the house we bought went to best and final.

If you do it I’d offer to refund any costs incurred by the young couple, and I’d make it a non refundable deposit.

Depends how far down the line you are with the current buyers. If they have incurred legal costs, fees etc.

I would also question the new potential buyers motives, that is an exceptional amount to offer over, in this current market. You accepted the couples offer, so presumably you were happy with that? I expect this woman will not proceed to purchase at the agreed price, and either withdraw if something else comes to the market that she prefers or drop after survey, day of exchange etc.

We have never messed anyone around, if we have agreed a price will go with that, we have always had buyers be straight with us. Karma or just lucky perhaps, who knows. How would you feel if the vendors of the new property you are purchasing did the same to you?

Entirely your call OP, do what is right for you.

Its a business transaction.

Treat it accordingly, check the £50k extra is possible for her finance wise and that she can't drop it before exchange.

50k is a lot. That makes a large difference to your onward purchase so in reality you cannot dismiss it to be morally fair to the original purchasers.

For example we sold our last house in a rising market - we sold for £550 to a lovely couple. That was already £50k over asking price. Found a place and after 3 months that fell through. Our original purchasers were happy to wait for us as they loved the house. However everything had increased in those 3 months and suddenly our purchase power was diminished. We had to go back to market again. The original people upped their offer to £575k. They were lovely - would have loved to sell to them. But we actually sold the house for £650k in the end. It just wasn't viable to sell it for £75k less just for being morally right.

Therein lies the housing market in this country, flawed as it is.

I'd say of you think the new lady is going to stick to her offer you would be stupid not to take it.

I would if the £50k was a non refundable deposit.

Up to a couple of days after accepting offer, yes I'd consider the higher offer.

Anytime into the process, no, I'd stick with accepted offer.

In your case I think I'd stick with accepted offer as other lady sounds like she'd mess about further down the line. Also, karma. I'd hate to have this done to me.

Just remember op, what goes around, comes around.

Only if non refundable deposit and you repaid the young couples incurred costs.

Unless she was willing to non refundable deposit then I wouldn’t trust her tbh.

I accepted the first offer 3 days ago, so hopefully no costs incurred, but of course willing to pay for any.

is it possible to do a non-refundable deposit? If so, why doesn’t everyone do it?

My friend said, if you really like them, would you go and hand them £50k now if you had it? Obviously not, so why give away £50k on. Business deal to keep them happy…

Have to decide today.

Three days is nothing. They will have incurred no costs, definitely go with the extra money, but with the expectation that she might try and gazunder later.

How would a non refundable deposit work legally before exchange? What happens if the valuation comes back at current asking price? Yes its £50k but no guarantee you'll actually get it, its a risk its up to you if its worth the risk.

Absolutely - it has only been three days!