Gazumping - have you, would you??

Charliezoo

I narrowly missed out on a property that I'd had my eye on for ages. The day we got an offer on our house someone had just pipped us to the post and we missed out.

We feel that this house was underpriced and would have been happy to offer over the asking price. The offer that's been accepted was 10k under.

We're going to be chain free very soon and so would be in an ideal position to gazump but I just couldn't bring myself to do it. Lots of people have told me to go for it but I just feel it's wrong.

Would anyone here admit to gazumping?

new_home_owner_3

Charliezoo wrote: »

I narrowly missed out on a property that I'd had my eye on for ages. The day we got an offer on our house someone had just pipped us to the post and we missed out.

We feel that this house was underpriced and would have been happy to offer over the asking price. The offer that's been accepted was 10k under.

We're going to be chain free very soon and so would be in an ideal position to gazump but I just couldn't bring myself to do it. Lots of people have told me to go for it but I just feel it's wrong.

Would anyone here admit to gazumping?

we have been gazumped, and i would never do it to anybody, theres plenty of houses out there.

sonastin

For me, it would depend on the timing. If the other party hadn't yet had chance to spend any money on buying the house, I would probably consider putting in an offer and leaving the moral dilemma in the vendor's lap. If the other offer had been on the table for several days/weeks/months I would probably feel too bad to gazump at that stage.

jockosjungle

I think putting an offer in after another has been accepted is just about ok, however if the buyer has incurred costs I would not even consider it.

Generally in life, what goes around comes around, and unless its the only house you will ever buy then you don't really have any complaint when you're on the receiving end do you?

Also if I got gazumped I'd spend my life writing rude words in cress seeds on their lawn

R

LittleMissAspie

We phoned up to offer on a house to be told an offer had already been accepted that day for just under asking price. We were prepared to pay asking price but didn't do anything because I didn't think it fair.

We were pretty gutted as we'd spent so long looking for somewhere we liked enough to buy, but that evening another house came on Rightmove and we've just exchanged on it

Sphynx

I would. My first priority is me and my family and everyone else can look out for themselves...

Guilefox

If you were selling your house under value, accepted an offer and someone put in a much higher offer, would you take it?

Answering that might answer your question.

Personally I agree with timescales, depends how long the offer has been put in/or received. within a day or so and I think thats fair game.

iB1

Either I've just been gazumped or the estate agent is attempting to BS me to try and get me to raise my bid.

My final offer was accepted on Saturday, so I took the day off today to get quotes from solicitors, found one, agreed for them to instruct and then got in touch with the estate agents to swap details. Got a call late in the afternoon to say that another bidder has placed a higher bid which the vendor has accepted.

I'm gutted. I won't go over what I think the house is worth. I haven't lost any money (hopefully) - just time - but I've felt the whole of the afternoon and this evening feeling like crap, so now I know what it feels like I would hate to put anyone in this position - even if the timeframe was just a few days

secretdancer

After negotiations with a vendor via the EA throughout the course of yesterday we finally had an offer accepted yesterday at 3pm. Our offer was made subject to removal from the market. Went into see the mortgage chap that evening at 5pm to prove we were serious. All fine and dandy.

Today, 11am my wife calls EA to arrange an additional viewing to take builder around. Appointment made for this evening.

Ten minutes later I receive a call from EA to say another couple placed an offer at 6pm last night which was substantially more and has been accepted. Relayed the message back to my wife then went to query the EA.

Got some guff about anyone who has viewed the property is entitled to place a bid, etc. etc.

Gutted and let down but also feel the EA has been playing us. I know it's a free market and vendor can accept a higher offer but any thoughts?

mrstinchcombe

Take a minute to be a b@st@rd, live in the house you want for years.

Of course I would.

Gazumping isn't the fault of the buyer, its the greedy sellers that are to blame for this annoying ploy.

iB1

secretdancer wrote: »

After negotiations with a vendor via the EA throughout the course of yesterday we finally had an offer accepted yesterday at 3pm. Our offer was made subject to removal from the market. Went into see the mortgage chap that evening at 5pm to prove we were serious. All fine and dandy.

Today, 11am my wife calls EA to arrange an additional viewing to take builder around. Appointment made for this evening.

Ten minutes later I receive a call from EA to say another couple placed an offer at 6pm last night which was substantially more and has been accepted. Relayed the message back to my wife then went to query the EA.

Got some guff about anyone who has viewed the property is entitled to place a bid, etc. etc.

Gutted and let down but also feel the EA has been playing us. I know it's a free market and vendor can accept a higher offer but any thoughts?

All you can do is offer what you think a property is worth (and what you can afford) and leave it at that. It's gutting and frustrating, but there are other houses out there. There's no point in getting in a bidding war and paying well over the odds for a property in the current market.