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Offering on something else

9 replies

BadgerMushroom20 · 25/10/2024 22:01

We are in the process of house buying/selling and accepted an offer pretty quickly on our current home, things seem to be proceeding well.

Unfortunately at the time of accepting this offer, there was very little on the market that ticked most of our boxes, so we put in an offer on one house and had that accepted.

Fast forward one month and both myself and DH have had confirmation of a slight increase in our salaries and we've seen another house listed on Rightmove that on paper is our dream home. We'd like to view but it's right at the top of our budget (over still in fact).

Obviously ethically this is shakey ground as we don't want to let our current sellers down but when making the most expensive purchase of our lives we want it to be right. So if we like this property more and they are willing to accept what we're able to afford then we will pull out of property 1 and go for property 2.

The slight concern I have is that property 1 was marketed with the same estate agent as we are selling with, and when we previously offered on a different house (with a different estate agent) they said they would need to call our estate agent to qualify us as buyers. Property 2 is being marketed again with a different agent so we are concerned that they will call our agent before forwarding any offers again, which obviously makes things tricky as we wouldn't want our agent to inform property 1 sellers before any offer on property 2 is accepted, as we need to move and if we can't afford property 2, we will still buy property 1.

Is this common practice for estate agents to contact each other to qualify prospective buyers prior to forwarding any offers? I feel like maybe I could prove it with them in other ways (DIP, email from our agent to say we've accepted an offer) but I don't know how much info to let onto them about our position either as don't want to be seen as flakey (which I know that we are, but we want to make sure we're making the right decision). Anyone else been in this situation before and can advise?

OP posts:
Nextdoor55 · 25/10/2024 22:38

I think I would call your estate agent & tell them that you're having second thoughts about house 1 due to the reasons you've stated, and be transparent that you are exploring the option of a different house, but this might not be the house you end up buying but you feel you have to absolutely be certain.
Alternatively you could speak to the agent selling property 2 & say, if you like this house, that you want to put an offer in because it's your dream house but you'd be jumping ship, so ask them to let you know if they plan on calling your agent so you can give them the heads up.
I'm sure they've seen it all before I wouldn't worry too much I think if you can be transparent you'll be fine

Silvertulips · 25/10/2024 22:43

Estate agents want to sell houses. Finances are dealt with by solicitors.

You are viewing the property and getting a feel for it - nothing wrong with that.

If you like it make an offer - if it’s accepted then is the time to talk to property 1

The way the market is, property 1 will resell quickly anyway.

AutumnLeaves24 · 25/10/2024 23:15

I would take it one step at a time. Make an appointment to view it, if you don't like it or think it's worth really pushing yourselves to your absolute limit for then no one needs to contact your agent. If you do like it & want to make an offer, disclose to the new house agent & take it from there.

yeah it's rubbish for your seller, but it's too much money to buy a house that isn't the best you can get for your money, to keep a stranger happy.

Twiglets1 · 26/10/2024 05:32

Your EA can’t stop you viewing the other house even if they don’t like it.

Make an appointment to view it - one step at a time.

Ilovecashews · 26/10/2024 06:51

You don’t know if it’s really the property for you, you don’t know if your offer will be accepted, you don’t know what the seller conditions/requests are, so why worry about a point even further down the line? Go see it!

LouiseTopaz · 26/10/2024 06:57

Our house sale has fallen through three times because of unsure buyers honestly don't put offers in on a house if you're not 100% sure. Yes the sellers will be upset, and they will have lost some money, time and potentially the house they are purchasing. It also looks bad as a seller when the house sells then you have to put it on the market again. You need to tell the sellers asap so they can find another property and inform their solicitors not to progress with anything.

BadgerMushroom20 · 26/10/2024 07:43

Thank you all for your advice. @LouiseTopaz you are right of course, we'd hate this to happen to us if the shoe was on the other foot so I totally get where you're coming from. I didn't foresee property 2 being something we'd be able to afford until our salaries changed. But as others say it still might not be for us as we haven't viewed it yet so I think I'll stop panicking about things at this stage!

OP posts:
LouiseTopaz · 26/10/2024 08:21

BadgerMushroom20 · 26/10/2024 07:43

Thank you all for your advice. @LouiseTopaz you are right of course, we'd hate this to happen to us if the shoe was on the other foot so I totally get where you're coming from. I didn't foresee property 2 being something we'd be able to afford until our salaries changed. But as others say it still might not be for us as we haven't viewed it yet so I think I'll stop panicking about things at this stage!

I've been on both sides, we ended up buying a house we were unsure of just after lockdown and now we can't sell it. It's hard for both parties, selling and buying in this market is so stressful. You need to do what's right for you because you don't want to get stuck like us but also be respectful to the seller.

Twiglets1 · 26/10/2024 08:26

At the end of the day you have to do what’s right for you @BadgerMushroom20 not be guilt tripped into buying a house you feel may not be the best one for you.

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