Making an offer on a house already under offer

[bettyboo4]

We’re first time buyers with no chain and viewed a house in last year that is our dream house but because of my fiancés work and family/life issues we had to hold off the buying process for a few months.

The house had been on the market for over 5 months before going under offer 2 weeks ago. Shoot me but we called yesterday to put in an offer for the full asking price, cheeky I know and I do feel bad but alls fair in love and property until contracts are exchanged any why shoulder the owner get the best possible price for their property. Not something I would have done on just any house but for us personally this house ticks every single box and more and I genuinely know if we don’t get it we won’t get close to this again.

The house price is higher than most in the area because of the street it’s on and has less/ smaller rooms than other houses that are cheaper in the area (but perfect for us). I assume that’s why it was so hard for them to sell given the price. The owner told us they had an offer on the table for 10k under the asking price and given it was on the market for so long I assume (only assume but they might be wrong) they’ve had to accept a lower offer.

The estate agent sounded shocked and said this doesn’t usually happen but also sounded surprised we was putting in an offer for the full asking price. What’s the likelihood they will accept given we have no chain and potentially a higher offer? Waiting for a call back from the estate agents today after them putting our offer to the owner 😬🤞🏼

I agree with others that it's a shitty thing to do.

Last week my daughter put in an offer on a flat, which was accepted. She has already spent over £1000 on surveys and searches. If the owners now pull out she will have lost that. Perhaps you could offer to buy the previous buyer's survey report from them rather than commissioning your own?

I suppose it's better to pull out earlier rather than later, because the buyers' solicitors won't have done that much work yet.

Renting is exactly the same. We had to move and rent to be within the catchment area for the school we wanted for our children, there was so much interest we had to offer to pay more monthly and 6 months upfront. We had to make an offer that put us in a better position than others to secure our children’s future and we’ve only done so again.

Presumably you didn't do that when the rental to someone else had already been agreed though?

And if you nob about with Scottish solicitors, they hand your ass to you and won't act for you...

I have extensive experience of both systems and whilst, on balance, Scotland is better, it's also just different with other issues.

actually didn’t think it was a shitty thing to do until I came here

You did, or you wouldn't have included "shoot me" in your OP

I think the word is guzzumped. Someone bids higher, they can choose to increase their offer and then the ball is back with you

Let's hope for your sake the vendors don't do the dirty on you. They've already gone back on a deal they'd agreed with the previous buyer. I would proceed with caution as I'd say they're not to be trusted.

You truly are PROUD that you are an awful and selfish person aren't you.

Amazing... your ignorance is not that you don't 'understand' its that you are too stuck up to care.

You are not worth more than others just because you believe you have more money (you need a mortgage still so not actually THAT great a prospect btw) and thus can just buyout others are a given right because you must have 'worked harder' etc...

The more you talk the more you show your true colours and they aren't pretty.

We did OK from something similar to @bettyboo4 's strategy, although it was quite a while ago.

(Either "karma" sadly isn't a thing, or it agrees with my code of ethics )

The house will be tainted

We used to buy houses, modernise and sell property as our business but always operated fairly. Once an offer was accepted we would take the property off the market when the buyer had arranged a survey. We turned down other viewings or offers then.

To be honest there is a strange presence the spare bedroom, and we both have a recurring dream of evil spirits luring us from HM Land Registry.

If the vendors are divorcing and want to move things along quickly, you might find complications later in the process. I speak from experience, having once bought a house from a couple who had split.

The collective might of MN is hoping the OP gets her comeuppance soon. What goes around, comes around

Cauldrons are bubbling ...

🧙🧙🧙🧙🧙🧙🧙🧙

@LardyDeeSorry I had missed your previous reply (amongst all the hate I was receiving 😅) about also getting your house this way. Lovely that you’ve been there 11 years, I’m sure you’ve made lots of happy memories there and when it’s your dream house sometimes you just have to go for it. I would have regretted it for life had we not.

And to all those still on the moral high ground, we’ve just been informed by the agent that actually no solicitor or conveyancer had even yet been instructed. Maybe they had an issue with their mortgage or their own property sale before they could proceed further (if that’s how it works). But whatever the reason we are able to move quickly, already have things in motion and they obviously felt for whatever reason they couldn’t trust the buyer so maybe they aren’t so immoral either!

Yes, yes I know they could do the same to us with accepting a higher offer but if that happens it’s still fair game we would just have to up ours. Ultimately if someone else offered more or was in a better position such as a cash buyer then it is what it is and I stand by my statement alls fair in love, war and property until the house is in our name. If something is meant to be then it will be. Although been in that debate here before and already know most mumsnetters don’t believe in fate 😂

Casting judgment and wishing bad karma on strangers on the internet who you know nothing about or the reasons behind the vendors acceptance is the real shitty thing.

Why did you even bother posting in the first place?

I was wondering this and can’t understand the smug attitude at all.

OP had just made the offer and was waiting for a response so
as per the last para of the first post
was asking the likelihood of someone accepting an offer in the circumstances.

See title post last para

I didn’t wish you bad karma, never would - but I think people passing judgement on gazumping is completely legitimate even if handily no money has been spent on solicitors or conveyancing… it doesn’t remove the issue of emotional stress, strain and disappointment on behalf of the original purchasers, or negate any problems that they may now experience as a result of your selfishness. It’s not even moral high ground, just basic human decency.

For exactly the same reason they posted this meaningless bit of information- The house is much higher than the average house purchase especially for first time buyers but we’re willing and able to offer more (within reason) if we have to. - to gloat!