Gazumped

bob79

pinkshoes wrote: »

What their mortgage calculator says and what they actually offer are rather different!! If you had a huge deposit, then perhaps they'd offer a higher multiple.

Indeed, when I want to C&G, the mortgage advisor there said that the maximum amount that appears on his screens when he types up a clients details is much higher than what the head office will now actually accept when it comes to sending the mortgage offer out.

owen1978

Just a quick thought i had, after you have an offer excepted is it acceptable to ask the EA to confirm in writing the offer of acceptance - would such a thing give buyers a fallback if gazumped?

MyUserNameWasTaken

pinkshoes wrote: »

What their mortgage calculator says and what they actually offer are rather different!! If you had a huge deposit, then perhaps they'd offer a higher multiple.

We're trying to buy at the moment and have over 50% deposit and secure jobs but still can't borrow much for than 4 times our salary.

hethmar

owen1978 wrote: »

Just a quick thought i had, after you have an offer excepted is it acceptable to ask the EA to confirm in writing the offer of acceptance - would such a thing give buyers a fallback if gazumped?

Wouldnt make an difference Owen. They have to pass on all offers they receive to the vendor and the deal isnt definite til you exchange contracts.

gelato_cat

I was just trying to be nice and recognising that there are decent sellers out there

Suze

Robert_Sterling wrote: »

If those who sell have good luck somebody will gazump their buyer at the last minute which will be bad luck for their buyer.

It is make your mind up time.
Who do you want to have the luck.

Often on TV the presenter say "Good luck to everyone or good luck to both teams." What does that mean I wonder.

Anyway good luck to you. :A :A :A :A :A

gelato_cat

I think this is against the law - did you report the EA?

Suze

worried_jim wrote: »

This happened to me in 2003 and the estate agent was definitely in on it- it was his brother I was buying the house from, unbeknown to me at the time. Warning to all those viewing renovated properties thru hyman hill in suusex with cream carpets and coloured tiles in the new light wood kitchen, they are all owned by the ea's developer brother.

worried_jim

my solicitor was telling me that it was a borderline case and very murky. I didn't report it but I did use to my advantage. This happened on Friday afternoon and I went to the EA a 9am on Monday morning- they were !!!!!!!ng themselves when I walked in I told them that they knew what I wanted, that I had the money in place and that they weren't going to do this to me again- they couldn't have been nicer and by the end of the day I had found somewhere and I have been living here for 6 years now- and its better than the original home and was cheaper! I had no problems with the purchase this time.

gelato_cat

Quick update from me.

We offered on another (much nicer) house, being sold by decent people this time, all went well and we completed in August last year

We were curious to see how much the house we were gazumped on eventually went for, so we kept checking the Land Registry data.

We had offered the asking price, which was £425k.

It sold for £420k.

Looks like karma kicked in somewhere

Suze

Tuscan

theres an agent on rightmove that ive seen tagging there adds saying they have an offer on this property and the amount. saw one this weekend that was only 2k under asking price and still they were punting for more offers..

Milliewilly

Depending on where you are in the country, houses are going for above asking.