FTB close to exchange but offered on another house

[iwasgonnasay]

We’re FTB close to exchange but a much better house in a preferable location opened up (more than ours by 25k)
We posted a letter through their door because their agent is our agent already and asked if they would accept the lower amount, of what we already have a solid mortgage offer for.

Anyone had an offer accepted when approaching directly?

Don’t be surprised if they direct you to talk to their agency

Definitely expecting that. Didn’t trust the agent to put our offer forward though if they knew it would jeopardise the other sale, so at least the sellers are aware of our offer and have our contact info.

Tbh if someone gave me a note saying they cannot make the offer via the agent because they are due to exchange on another house I’d be seriously put off. You might well do the same to me just before exchange.

when we sold I seem to remember that the agents contract said if someone found our house via their online listing we’d still have to pay their fees. I guess it may have just been that agent…

why don’t you withdraw from the current house and put an offer in on the new one?

Fees we know we still have to pay, those we’ve committed to already and those new. We’ve asked the seller before we stop the other because if they say thanks but no thanks, we haven’t upset the Apple cart to our current sellers for no reason. However if the other is happy to proceed then it means we don’t have to move our child out of school, have family round the corner and get far more house in a more desirable and quiet area. We’re no worse of either way but better off one way.

It’s tough. I’ve been on the other side of this, our buyers pulled out the week of exchange and it’s shitty behaviour, it’s been devastating. But also, buying a house is a massive deal and it needs to be right. My biggest problem is that so many people are time wasters. Just be sure before you put your bloody offer in!

Our friends did this, the one they had an offer proceeding found out and refused to sell to them and the one they offered got a higher offer and they ended up with no house in the area they wanted.

If the first house was good why were you even still looking online?

it’s a shit, selfish move for the poor sellers close to exchange.

We’ve also clearly detailed why we haven’t yet approached the agent in our letter. We’re not just shopping around, houses in this estate never come up for less than 450k. The reason this one is I think is because it’s still got decor from the 80s and I’d say the family are needing to sell relatively quick. If they’re willing to go for it then we’re a guaranteed sale no chain ready to move with an offer already. Appealing to some.
I would feel bad for our current sellers but also it’s our family life I have to put first and this house would give us a far better living standard. Can’t see the harm in asking

If this house says no we aren’t looking again. I didn’t look actively I got an email from move to say a house I saved had come back to market. It’s shitty to the seller but they’ve taken 4 months to get to this stage when they promised a quick sale.. it’s timing gone both ways

This new house will have a contract with the estate agent so they are very unlikely to just sell direct to you? Agent will very much want to get involved. I’m not sure you can keep it from them really

4 months is a quick sale. Are you saying you're offering £25k less than asking price, but also asking them to not have an agent act for them during the conveyancing process? The whole reason people use agents is for the middle man between buyer and seller.

Sorry to be clear - the agent will have put it on Rightmove which is where you saw it so they will say they marketed it to you?

Later on in life I hope you understand you shouldn’t mess people about. You could be ruining a chain (at least) for the other sellers. But you don’t care.

Yeah, shitty behaviour.

Currently 4 months is a fast sale.

Reading between the lines, it's an old person's house. Is anyone living in it at the minute? Because if you're relying on family members to pop round and find your note, you could be waiting a while. Probably the estate agent will get to it first!

Wow that’s really shitty if you.

How long has the house been on the market? If it's recent, I see no reason why they would accept an offer 25k under the asking price.
When we were selling our first house, we were approached directly and I simply told them to go via the estate agents, That's what we were paying the estate agent for .

Offer asking price and pull out of the current one. You have no choice but to come clean with the agents but they’ll have seen it all before.

You will be known for being flaky as a buyer and most sellers would not consider accepting any offer from you so I doubt they will accept anything lower than asking price

What shitty behaviour. I hope everyone finds out and the others have another buyer in the wings.

All points made are answerable but also pointless if I do or don’t. Either way we’re buying our first family home so what suits us counts more than anything for once, and we’ll ride that cow until it comes home! We’ve been direct and asked a question, we’ll see what happens and pick up from there.

I wouldn’t trust you not to do the same to me. But if I were desperate for a sale I’d have no choice I suppose.

Firstly, 4 months is on the quick side or at least average. It doesn't sound like they've been dragging their heels. Is there a chain? Also, whilst you are chain free, how do you know that these other sellers aren't and you might be waiting many more months?

Secondly, the sellers of the "new" house will have it into their EA agreement that they have to pay the EA commission even if you buy it outside of the EA (which they presumably don't want, hence being with the EA) as they "introduced" you via Right Move. The EA will presumably get a higher commission on the new house if it's more expensive as it tends to be % based.

Thirdly, I wouldn't think much of you if I were the sellers of either house. If I were the sellers of the "new" house I'd be thinking you clearly are one for games (particularly with a low, under the table offer and reluctance to involve the EA) as otherwise you'd be upfront with the EA and your current sellers by pulling out of buying the other property. Similarly, if I were the original seller and you did pull out at the Nth hour then I'd be seeing how much of the money I'd laid out on my new property I could claw back (likely to be more than you will loose unless they're downsizing or moving to a cheaper area) as would the people higher up the hypothetical chain.

I know you've said that you "want to do what's right for your family" but presumably there was something that you liked about the initial house etc to make you put in the offer and get to this stage? If you didn't like it then you haven't really done what's right for your family either (given you cite needing to move schools, away from friends/family for the original house which is why you now want the other house) and you've given more ammunition to the urban myth that all first time buyers are flakey, indecisive and likely to pull out... which is clearly untrue, but you also wouldn't be painting a different picture.

Just be honest with the real life people that you are currently buying from - if you no longer want to buy their house then let them know so they can find someone else who does want it.

Still feel pretty confident in our decision because answers to the points are easy enough.

Current house, no chain
New house no chain
Living with family who want to move, so felt pressure to buy now for current house

Not moving schools either way as 3 miles if old or walkable for new
*current means before and after school clubs

Not excluding EA or unwilling to progress through them, just don’t trust them to put our offer forward / will of course use them why wouldn’t we? Things fall through all the time?

First house is fine, but doesn’t suit us the way the new does, and people live there currently so assume downsizing or moving to care or with family. Same car comes and goes and has done since we lived here for the last couple years.

If nothing comes of it we continue with our first, but this is dream home never comes on the market at this price Vs fine home.

Easy to judge but we live in a stupidly expensive area and a small mid T over a large detached is definitely a no brainer if given the chance. We can only ask!

If this new house is a steal and rarely comes on the market you might find there are other people after it too. If you really really want it then I would have offered the asking price and begged or borrowed the extra money. I agree you have to put your family 1st.

4 months is very reasonable and shouldn’t be presented as an excuse to put an offer in elsewhere.

Agreed