Seriously how can people be so fucking greedy?

[Thandeka]

Had offer accepted on place start of dec. Was 7.5k off asking price and a fair price. Got solicitors and mortage arranged but held off on survey (thank god) as the vendors were still to find a place. Anyhow I am now 37 weeks pregnant and due any day as head engaged. Vendors know this and we had been uber nice buyers and said that although our current place is unsuitable for a bub we were happy to wait for them. Anyhow get a phone call today from agent and fucking vendors have decided to put property back on Market for 27.5k more than we offered!?

FFS I really really don't need the stress of this right now and if they were planning this why the fool couldn't they have done this a few weeks ago? And how are we going to find a house with a newborn and move within 4.5months before our mortage offer expires and we potentially lose £1k.

Gr gr gr grrrrrrrrr!

i think the laws governing property here, all property including private rentals, is an arse.

Same happened to me a few years ago, lovely old couple, we shook hands on the deal, had the survey and then they offered it to us for 20k more and when we declined put it back on market. It still makes me spit, we lost our buyer as well because of it. In the end we got a new buyer at 10k more for our old house and found an amazing place we all loved. It will all work out in the end, and you will get exactly the house for you. Sorry though, because I know how increadably stressful this can be.

Yup is a lovely old couple here too and I used to work with their daughter which was a random connection we discovered! What I don't get is that they are downsizing so why do they need so much money? They have been in house for 30 years and probably own house outright. Bah bah bah I think it's because some houses on street are being marketed for more but they are nicer houses! And it's just cruel to accept an offer and then renege (not sure how to spell that), especially not when the buyers are as lovely as us and have a great deposit and mortage and are having a baby- harumph! When I eventually sell my first house I will never do that.

they are probably doing it because they think you are backed into a corner. they no doubt think that by doing this, you will make a bigger offer.

Walk away. Better to lose a thousand than to be saddled with TWENTY SEVEN thousand extra debt!

I hope their house remains unsold for years!

Yeah, I hope all their deals fall through, too.

Haahaa.

I really do.

Greedy gits.

Have you told them you're not playing ball, what's their reaction? Hope they feel shame-faced eventually at their own greediness

twunts. karma will come and bite them on the arse. every time i have heard of people being greedy arses like this it has ALWAYS worked out worse for the greedy buggers and better for those they did the dirty on.

so by that account, you will find a perfect house for you all soon

A similar thing happened to us (but it was as we were due to exchange)
We walked away, I have never felt so torn in my life as it was my dream house.
We have ended up with a much nicer home which I love to bits (it also cost 25,000 less) and 2 and a half years later the original house is still on the market.
I'm not usually a vindictive person but whenever I see it in the local paper I do smirk.

greedy bastards

we accepted anm offer on our house back in december, EA rang and said someone wanted to come back for a 2nd view (the day after we'd accepted offer!) and that they might put in a higher offer.

i said "no thanks, we've accepted the offer from MR X and I won't go back on taht."

DH fully agreed

it's karma innit

They can put it back on the market but it doesn't mean they will get their increased price. Did the EA say why they had done this?

Hopefully it won't sell. I always wonder about people holding out for a price that they think they can achieve.

There are several houses near me that are just sat on the market and have been for 2 - 3 years because the vendor will not drop their price. The EA even said they have told one woman she needs to drop it down but she refuses. So there it sits.

We offered on a property but they rejected our offer, we felt it was fair, it wasn't even cheeky! It is still sat on the market, I wonder if they regret not taking our offer. We have bought a better property with a lot more potential. Admittedly more money but we won't have to move in 5 years like we possibly would have with the one we originally wanted.

I believe in fate and karma. Hang in there.

EA said it was because they couldn't find a place they wanted in their current budget and kept having offers rejected including one of 420k! (70k more than their current house!). Which frankly doesn't make sense- one of the reasons they kept saying they are moving is to downsize as this house is too big for them. So say they are looking for a two bed (and I know the area they are looking in) they could easily get a really lush one for our offer price of their house.

Our mortgage valuation came in at 17.5k under our offer and given they have now upped the price they are going for 45K more than what mortgage valuation said! It is just so weird- but then the market is crazy at mo- most 3 beds are on at 380odd round here and theirs was on at 365 but it isn't quite as nice as some of the other three beds, but if they wanted more for it they should have put it on at higher price in first place! We weren't going to offer 385 for a house on at 365!

Annoyingly we are now probably going to have to look at increasing our budget slightly if we want to stay round here but they won't be getting a penny of it as its the principle of the thing- they shouldn't have accepted our offer- which was a fair offer on a fairly priced house (for london ish)- now somehow everyone seems to be playing silly house price games again!! GRRRRRRR!

(oh and week before that one we put an offer in at asking for a 3 bed on at 365 and it went to sealed bids for 17k over asking- market is MAD)

I wonder if the EA doesn't have anything to do with it ......After all it is his % as well !

We're currently on the market, and these stories make me reach for the vodka

Hope it bites them on the arse and you get a much better place within your budget. I can't stand people who do this, I really can't. This is where it all went wrong with the gazumping bollocks of the 80s and 90s - and look where that left 1000s of people.

And I do blame the estate agents partly - I'm sure if they worked for a fixed rate (on a sliding scale depending on house size/price bracket) things would be a bit different.

How horrible! When we sold our old place we had a second, higher offer just after we accepted the first offer.

We turned down the second offer on the basis that I wanted to be fair to our first buyer - I wouldn't want someone to behave in such a way to me, why would I do it to someone else? The estate agents were astonished - says a lot about them, doesn't it!

I have great sympathy with you in your disappointment, however, in your last post you say that a similar house went for 17k over asking. Surely that is why your vendors have dropped out? They are obviously finding prices higher than they had anticipated.
And thumbwitch, don't forget EA has a LEGAL duty to pass offers on to the vendor. An increase of 5k is not worth a great deal more to the agent, they would usually go for a reliable buyer.

Have sympathy for you too but - just playing devil's advocate here - if properties are going for over the asking price, and if you are going to have to increase your budget if you want to buy in the area, surely that tells you that the house is indeed worth more than you offered? Imagine they were your parents, wouldn't you want them to achieve the best price possible? Perhaps they don't have much money for their retirement and every penny counts - you just don't know their situation at all. (FWIW, I rejected an offer of £5k above agreed price I received the day after closing bids when I sold house this summer, as I felt I'd entered an agreement with first couple - but perhaps their situation is that they need every penny they can get). Hope you find a house soon, best of luck.

The one that went for 17k over asking was very special and 3 double bedrooms. This one not so much- lots of original features ripped out and two doubles and a tiny single. Both houses on at same price. I think the streets round here are in a funny bubble as literally under half a mile diff and prices differ by 50k. I do get that they may need more money but they should have sorted this before and they defo shouldn't have let us go for 6 weeks thinking the house sale was proceeding and us spending money on mortgages and solicitors etc.

Expat is right, the law is farcical.

I am pretty sure I'm right in saying that here in Australia, the moment your offer is accepted, it's binding to both parties.

We might have to deal with insane house price inflation (have idly turned over the idea in my head of moving back to London, because it's now cheaper than Sydney), but at least we don't have to face gazumping and this sort of bullshit.