Gazzumping has re-started

chewmylegoff

IveSeenTheLight wrote: »

Fair point, however I in no way intimated that because of this one scenario it was happening everywhere, only that I was surprised to hear of a property being gazzumped in this climate

you kind of did start a thread titled "gazumping has restarted".

i'm not particularly surprised to hear of a higher offer coming in on a repo, especially when offer is likely to be rock bottom. furthermore, i wouldn't really call this gazumping. in this case there is no accepted offer to be gazumped. i would hazard a guess that the "gazumping" offer is still way below what the property has been marketed for.

to my mind gazumping is someone going into the estate agent and saying "how much is x property under offer for, i will offer 5% more". that doesn't seem to have happened here, although the facts are not clear.

IveSeenTheLight

chewmylegoff wrote: »

you kind of did start a thread titled "gazumping has restarted".

Its a title, read what I said in the first post........

archie9uk

IveSeenTheLight wrote: »

Fair point, however I in no way intimated that because of this one scenario it was happening everywhere, only that I was surprised to hear of a property being gazzumped in this climate

I would have thought that gazumping would have been on the increase in the current climate of a) buyers offering way below asking prices and b) sellers getting desperate. But then I know nothing, having bought two properties at the asking price. Maybe I am just on a different planet to most people, but I would be insulted if someone offered me 25% below asking price. To me the price is the price.

Swipe

archie9uk wrote: »

Maybe I am just on a different planet to most people, but I would be insulted if someone offered me 25% below asking price. To me the price is the price.

Wanna buy a house?

Alan_M_2

There is the occassional property that will always buck the trend, it may be particualrly special or desirable.....or it may be an absolute bargin..

In any industry this sometimes occurs.

On Friday I had a call from a customer for an order of marble for their refurbishment (I'm a wholesale stone importer)....this is a domestic customer wanting the highest quality Spanish marble for their front hall and living room, 150 sq/m in total at a cost approaching £22,500...I guess the credit crunch isn't getting to everyone, but it's certainly getting to the overwhelming majority.

archie9uk

Swipe wrote: »

Wanna buy a house?

No, but I want to sell one! Not any time soon methinks...

JoolzS

I don't believe that gazumping ever stopped! If two people want the same property then there is always the chance of gazumping. I'm sure it existed before it was given a name and I'm sure it will continue to happen.

Julie

dervish

IveSeenTheLight wrote: »

Amazing really.
Reported on this website was a guy stating he was gazzumped.
I'm surprised in this environment.

Of course there are always exceptions, but it will be interesting if people are willing to start getting into bidding wars again so soon

http://forums.moneysavingexpert.com/showthread.html?t=1482231

Anyone who gazumps someone in this market really needs there head examining.

House prices are DROPPING.

People just need to wait.

Rock_Hard

IveSeenTheLight wrote: »

Amazing really.
Reported on this website was a guy stating he was gazzumped.

Must be some fool having a nightmare thinking about 10 years from now

besonders1

Anyone who gazumps someone in this market really needs there head examining.

House prices are DROPPING. People just need to wait.

Maybe the buyer will be thanking their gazumper this time next year when the house is worth an awful lot less than what they paid for it!