Gazumping...

Running_Horse

I have no opinion on the morals. It just seems odd to be determined to pay £10,000 more for something at a time when most are trying to get £10,000 off the price. That's £20,000 you will never get back. Also you will not know the price agreed, so will be paying more than £10,000 more than the first buyer. Why are others snapping up these houses before you? Are you phoning EAs to hear about houses coming on the market? Are you delaying making offers? Seems a little work and organisation could save you a lot of money and hassle.

QTPie

Just missed out on a fantastic house in a fantastic location a couple of months ago... rather than gazump, we offered to buy the buyer out (so generously compensate the buyer to drop the sale to us). They didn't accept - it was going to be their house for the next 30+ years...

So we are still looking. We have had some luck with (carefully targeted) leafleting and are currently awaiting the owner to get some valuations (this coming Tuesday).

QT

Made_Without

thewinkshow wrote: »

chocolatefish - yes not nice for you, but very nice for the people who secured their dream property, now they are in their dream house i am sure your survey and fees are a distant thought to them, i.e they dont give a stuff, they went in and got what they wanted.

you can also gazump - or you can play lets be nice to people you will never see again, because of some mis-placed ethics or morals that people keep banging on about. you want something make it happen, they did, you can to, regardless of the other person, who, as it has been shown would not give you the same courtsey, people get too deep on here about morals and stuff.

Unfortunately, I don't have infinite cash to be able to up offers to trump others who may come onto the scene 4 months in to the buying process. I know no one gives a stuff - I'm not so naive - however, I still dont think it's nice.

Does being nice - play a role in house buying - I learnt the hard way that it doesnt.

C*F

Milliewilly

Running_Horse wrote: »

I have no opinion on the morals. It just seems odd to be determined to pay £10,000 more for something at a time when most are trying to get £10,000 off the price. That's £20,000 you will never get back. Also you will not know the price agreed, so will be paying more than £10,000 more than the first buyer. Why are others snapping up these houses before you? Are you phoning EAs to hear about houses coming on the market? Are you delaying making offers? Seems a little work and organisation could save you a lot of money and hassle.

In certain parts of the country desirable properties are going over asking so they are setting their own market value in the case of multiple buyers. I think most people would only gazump if it was a special property to be lived in for a long time.

KS1977

property.advert wrote: »

I would not even consider the other party if I wanted a house and making a better offer would secure it.

Living with it ? get real !

Well I suppose that's what makes you and I two different people with ever so different morals. :@)

Milliewilly

The Vendor is in control of this not the potential gazumper - they don't know the other party (if they exist at all). The Vendor is the one who should have the moral dilemma as to whether to accept - not the person making the gazumping offer.

KS1977

Milliewilly wrote: »

The Vendor is in control of this not the potential gazumper - they don't know the other party (if they exist at all). The Vendor is the one who should have the moral dilemma as to whether to accept - not the person making the gazumping offer.

Yes you are right hun. But then I suppose they want as much money as they possibly can for a sale....don't blame them. It's only like selling in general. You aim to achieve the highest price possible. :@)

bandofbrothers

Hi,

Im selling a property.

If an offer is made and I accept, and then the buyer takes the next step to arrange surveys etc, then im committed to them.

In the end ive accepted the offer because i see it as a fair one !

Gentlesmans agreement.

bakerp

bandofbrothers wrote: »

Hi,

Im selling a property.

If an offer is made and I accept, and then the buyer takes the next step to arrange surveys etc, then im committed to them.

In the end ive accepted the offer because i see it as a fair one !

Gentlesmans agreement.

Well said:A

Sphynx

It seems there are two sides to every story lol. I wouldn't gazump if I didn't feel I had to but I am not going to be crying into my breakfast over it far more likely to be crying if we don't manage to secure a property that meets our needs and quickly. I have done all I can, phoned EA's twice a week, leafletted, driven round and round until I am going round the twist! The market in this particular area is being driven by the very good primary school and is bucking the slooooooow trend in the rest of the area.
I don't feel particularly immoral.