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Original poster

Gazumping. Should we do it?

184 replies

Itsrainingten · 05/08/2024 15:55

We viewed a house about 6 weeks ago. Loved it. Had a second viewing and wanted to make an offer. Spoke to seller, explaining we were awaiting an offer on our house first but we had someone who had seen it 3 times and was apparently "just waiting for her husband to return from his business trip on Friday" and then would offer on ours. Well unsurprisingly she then went radio silence. I was in touch with sellers EA regularly letting them know we wanted it but still weren't in a proceedable (?) position. Even put forward a full asking price offer if they'd hold on for us. They didn't want to wait. Fair enough. Well this morning I looked on RM and it says it's SSTC. It wasn't on Friday. Thing is we've literally (like 2 hours ago) accepted an offer on ours so now we ARE proceedable. We are considering getting in touch and offering them £750k - asking price was £735. What do you think? Is this too immoral? Would you do it?

OP posts:
MaSaladeEstEnorme · 05/08/2024 16:12

It's obviously frustrating your house didn't sell in time, but nope, gazumping is shitty behaviour and you just have to accept it's the nature of the beast. We had an offer accepted on a dream house and then lost it because of someone like you.

Original poster
Itsrainingten · 05/08/2024 16:16

"someone like you" is a bit harsh! We haven't actually done anything. I do agree it's a bit shitty which is why I'm in two minds. But it's not like we've appeared out of nowhere. And it only showed SSTC today when we've been after it for weeks.

OP posts:
Eyesopenwideawake · 05/08/2024 16:18

You can offer as much as you like but until you're in a position to proceed it's an offer, nothing more. The vendor wants to sell, not wait.

Ah, I see you are ready to go. In that case it's up to you to pay whatever you want.

Pleaselettheholidayend · 05/08/2024 16:21

I think it would be easier to accept that you've lost this house and keep looking.

Even if they accepted you're higher offer, would you want to deal with sellers who are that flakey? It's a long process and you want to be locked in with people who you'd hope are straightforward.

It is shit to lose a house you really wanted though.

GodspeedJune · 05/08/2024 16:22

It’s appalling behaviour. You didn’t get there in time. Something else will come along. Don’t be that person.

Original poster
Itsrainingten · 05/08/2024 16:22

Eyesopenwideawake · 05/08/2024 16:18

You can offer as much as you like but until you're in a position to proceed it's an offer, nothing more. The vendor wants to sell, not wait.

Ah, I see you are ready to go. In that case it's up to you to pay whatever you want.

Edited

Yeah I know. But as of today we ARE in a position to sell. I think of they only accepted an offer on Saturday (which is my guess btw I don't actually know - basing it on it going SSTC today. Then the other buyers won't have actually spent any money on it yet like surveys etc. I dunno. I get what you're saying about them "missing out on their dream house" but then we've wanted it for weeks, they JUST came along. Is it really that bad a thing to do? The sellers can always say no if they think it's dickish behaviour

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ohyesido · 05/08/2024 16:23

Gazumping is not illegal. But it is highly unethical and you are doing something morally bankrupt.

this happened to me and my DH last week, it was a repossession and the bank gave us a month to complete but it stayed on the market with a notice that an offer was in place.

on day 28 another buyer put in a higher offer that we simply couldn’t beat having invested time and money that we now can’t recover because we were a day away from being able to exchange. She knew exactly what she was doing, put in a silly offer and basically stole it from under our noses.

it’s a mean trick

Eyesopenwideawake · 05/08/2024 16:25

The other buyers will have the option to match your offer. You have no idea how long they have wanted the house, they may have been in exactly the same position as you but really it's none of your concern.

blackcatsarethebestcats · 05/08/2024 16:26

It’s unlikely to have just sold on Saturday - it usually takes a few days to mark SSTC while people do identity checks and get the memo of sale sorted. You certainly don’t know they ‘just came along’ - after all, you’re only in a position to offer now but you didn’t just come along did you?

Agree with pp that I’d be wary of a seller who’d mark SSTC but then change to another buyer. I think that’s probably more relevant info for you than the people guilt tripping you.

Time to start viewing other houses I think!

RainyWoodland · 05/08/2024 16:27

Nothing is certain until you exchange and complete. People pullout for all sorts of reasons. I think you should do as you like and be open to the idea that someone might do the same to you. But do what you like.

jennii · 05/08/2024 16:27

It’s a mean trick but if it’s your dream house it is worth a try. I’ve tried to be ethical in the past (not just with house buying) and had my hands burnt. Am now of the opinion that if it’s legal, people will do it , especially when money is involved.

Original poster
Itsrainingten · 05/08/2024 16:28

Eyesopenwideawake · 05/08/2024 16:25

The other buyers will have the option to match your offer. You have no idea how long they have wanted the house, they may have been in exactly the same position as you but really it's none of your concern.

They definitely weren't in the same position. Like I said I've been in contact with the EA pretty much every week. I don't know when they first saw it but they hadn't had any serious interest 2 Saturdays ago (that's when I last spoke to them because we went on holiday)

OP posts:
Caffeineislife · 05/08/2024 16:28

Phone the estate agent and ask to be put on the list to call if the house falls through. Houses are falling through left, right and centre here. Some round us have fallen through 6 times this year. My brother is looking to buy and every time the one he was interested in fell through the estate agent rang to see what he wanted to offer.

blackcatsarethebestcats · 05/08/2024 16:28

Itsrainingten · 05/08/2024 16:28

They definitely weren't in the same position. Like I said I've been in contact with the EA pretty much every week. I don't know when they first saw it but they hadn't had any serious interest 2 Saturdays ago (that's when I last spoke to them because we went on holiday)

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But for all you know they loved it and were waiting until they were proceedable

Would really advise you to mourn the loss and move on.

Sitdownrosa · 05/08/2024 16:29

It's not as if they're weeks down the line, nobody could have got surveys etc done yet so youd be silly not to make an offer.

Original poster
Itsrainingten · 05/08/2024 16:32

Think I'll get in touch with the other EA and find out exactly where it's at if I can. Then based on that I guess I'll decide. If they did literally just accept the offer today / Saturday/ Friday I'm going to try it. If it's been going along in the background the whole time we've been away then I guess I won't because they might have spent money on it.

OP posts:
Abouttoblow · 05/08/2024 16:36

Pleaselettheholidayend · 05/08/2024 16:21

I think it would be easier to accept that you've lost this house and keep looking.

Even if they accepted you're higher offer, would you want to deal with sellers who are that flakey? It's a long process and you want to be locked in with people who you'd hope are straightforward.

It is shit to lose a house you really wanted though.

How on earth are the sellers "flakey?"

They're selling their house, someone has made an offer and they've accepted it.
The OP wasn't in a position to proceed, that's hardly the sellers fault.

blackcatsarethebestcats · 05/08/2024 16:38

Abouttoblow · 05/08/2024 16:36

How on earth are the sellers "flakey?"

They're selling their house, someone has made an offer and they've accepted it.
The OP wasn't in a position to proceed, that's hardly the sellers fault.

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I think the point was that if they accepted op’s offer, THAT would be flakey.

Lochroy · 05/08/2024 16:39

Just put an offer in. It's a shit system and it's horrific to lose out because of it, but in that situation people need to get angry with the system not the vendor.

If you were the seller and you had the option of a higher price or better placed buyer, you'd take it. Of course you would. And mn would be saying the same.

openforall · 05/08/2024 16:39

Certainly call the agent, ask to make an offer

Play dumb. See what they say

openforall · 05/08/2024 16:41

Mines fallen through twice now

Express an interest

Killingoffmyflowersonebyone · 05/08/2024 16:43

You can offer. But they might not accept it.

I didn’t when someone tried to gazump when I was selling. They offered 10% higher. I was too worried about what other less than desirable behaviour they might show during the process if they felt gazzumping was fine.

StuckOnTheCeiling · 05/08/2024 16:45

I’d call the agent and explain your current position.

The sale could fall through and you want to be first in line.

My friend accepted an offer on his house one morning last week, it was listed as SSTC on rightmove by the afternoon!

Pleaselettheholidayend · 05/08/2024 16:45

blackcatsarethebestcats · 05/08/2024 16:38

I think the point was that if they accepted op’s offer, THAT would be flakey.

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Yes this was my point. I think it's one of the many reasons Gazumping is bad, you want everyone involved to be as straightforward as possible.

Original poster
Itsrainingten · 05/08/2024 16:48

Pleaselettheholidayend · 05/08/2024 16:45

Yes this was my point. I think it's one of the many reasons Gazumping is bad, you want everyone involved to be as straightforward as possible.

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Yes I can totally understand this viewpoint. I actually think the sellers MIGHT prefer to sell to us and wish we'd got in in time. We got chatting to them quite a bit when we looked around kids in the same school - and they knew we loved it and are good at keeping in touch with the EA.

OP posts: