Putting an offer on a SSTC house

Soubrette

Fly_Baby wrote: »

I know that it would be tough for the buyer. They would probably feel better if the seller pulled out due to some more honourable reason, like the end result would be the same - the buyer would lose the house and all the money they'd have spent.

They'd probably feel the best if they are never put in the position of finding out if their seller is !!!!!! too and the house sale goes through normally, like most of them do.

Although in the 80s housing boom a friend of mine lost two houses to gazumping and a third house had a higher counter offer and she was extremely impressed when the third house said they would never do that to someone - kind of restored her faith in humanity

Of course those were the days of seeing a house and making an offer there and then, crazy days.

Pepzofio

Fly_Baby wrote: »

Not that I am trying to convince you or myself, but they won't exactly lose the house because of me - in the end of the day, it's the seller's decision, isn't it?

If the seller has accepted their offer, then you put in a higher offer and gazump them, then you will be the direct reason they lost the house.

Yes the vendor could pull out for another reason, but at the moment they haven't - they have accepted the other party's offer and as things stand the property is sold subject to contract.

If you're happy to gazump then fine, go ahead and do it. As you say, it's not illegal. But don't pretend that you won't be causing a loss/inconvenience to the original purchaser.

sonastin

Fly_Baby wrote: »

I honestly don't know. I know that I am sick of renting, that even if similar houses come up they wouldn't be the same (this one is slightly extended and we do need some office area because I work from home), so it is just so perfect, in everyrespect, ticks ALL boxes we were looking for and yet to find in any house, even more expensive ones - and it was affordable at that! I am close to tears...

You said you hadn't actually viewed the property yet so you might think that it is perfect and ticks all your boxes but you don't know yet. We've all viewed houses that looked awesome on paper and just didn't live up to it in reality. We might all be getting hot under the collar about nothing here. Are you sure you're not building this place up to being better than it really is, just because the advice on here is to walk away. Its easy to get carried away in the heat of the argument but in the cold light of day would you really consider this to be the one that got away? If it hadn't been SSTC when you got back, would you be so excited about it?

dizziblonde

Fly_Baby wrote: »

Thanks soubrette, that's a useful perspective.

I did not come here to ask whether it's OK to screw whoever or not - of course, that's a personal thing to decide.

My question was - is it really screwing? If both buyer and seller can pull out at any point without explaining a reason, if some sellers continue marketing the property after accepting the offer? When an EA calls a potential buyer and tells them that they got another offer and do you want to up yours? Is vendor happy to authorise this approach in order to get more money? Does it mean that they all are potentially happy to screw each other if that benefits them? And entitled to do so by law - hence it's not really screwing, just a tough market?

You came on here wanting us to tell you it was OK to screw other people.

Like I say - I'm pretty sure someone's going to try it with the house we've paid out for surveys and solicitors fees on. If they do and the vendor accepts (I'm hoping the friendly neighbour who keeps an eye on the house for him since it's vacant who knows us has swayed him enough into knowing we're a good couple who just want to stay on our street for him to resist) - we'll be out survey fees, we'll be out solicitor's fees, we'll probably be out enough of our savings to mean we're unable to take those losses on another attempted purchase for a good few months, probably over a year... because they've been paid from money given to us as a gift for our wedding.

It'll mean that the house purchase which, following the horrific events we've had going on in our personal life, is the only focus we have keeping us going forward and not collapsing into utter despair and grief will fall through and we'll be left stuck completely since we've scraped every spare penny together to get to the position where we can buy this one - we don't have the leeway to throw away on survey after survey because some scumbag missed a better deal than what's on offer.

Yeah it's an utterly disgusting thing to do - but from your replies on here - you sound like you've pretty much decided to screw someone like that and want reassurance it's a good moneysaving thing.

I also wouldn't be wanting to deal with a vendor who got in on this sort of thing either - and if you do, and they accept - I hope someone does it to you in return.

Just letting you know what effect your actions would have on the other people struggling to get on the housing ladder. I hope you have a conscience.

dizziblonde

Fly_Baby wrote: »

Not that I am trying to convince you or myself, but they won't exactly lose the house because of me - in the end of the day, it's the seller's decision, isn't it?

How about - that's your outlook and that's mine, so we don't call each other !!!!!!?

They'll lose the house because of you. They wouldn't lose the house if you didn't put in an offer so yes, it IS !!!!!!.

How will you feel if someone does this to you? You'd be on here ranting and raving about it.

Nixxx

OP, have you contacted the EA to register your interest in case the sale falls through?
Why don't you do that in the mean time while you consider your options?

MissMotivation

OP, you seem to be implying that you are more entitled to this house than the current Buyers, it's something that I hear all the time as an EA....."we saw the house first" therefore we are more entitled to it than the person who sorted their finances out first or sold their property first or got off their !!!!! and viewed the property first.

Gazumping leaves a very unpleasant taste in the mouths of everyone who is involved and, in my experience, there are very few Vendors that would sell to the Gazumper, I believe this is down to not trusting that that person would not Gazunder at the last minute!

Please think of the current Buyers, think about how much money they will lose, about the disappointment that they won't get to live in their dream house, that is perfect for their Children's School and near to their Grandparent (ok, so I don't know this for a fact, just demonstrating a point).

Other houses will come up......don't !!!!!! on someone elses dream just because you feel you are more entitled to this house!

Ankatden

Too easy to say its all wrong without knowing the specifics of each transaction

If Vendor selling because partner abandoned them and facing reposession because can no longer afford it. After many months has a sale agreed that just clears the mortgage then after SSTC someone else comes in and offers 15k more than enables vendor possibility of a positive start elsewhere.

Is Vendor wrong to accept later offer ?

OP assumes that by increasing offer they will win, what happens if once their offer is accepted the original purchasers move £5k above you forcing your offer price up.

kmmr

I was buying a house, had paid for survey, and someone came and offered more for it. I wasnt horrified or offended, I knew it was a good price and a good house, so I contacted my mortgage company for more money to be prepared to fight for it.

The vendor has a right to listen to other offers. they may need the money for some cause that i dont know about, and the extra £5k would have made all the difference.

But i didn't get caught.up in the morals of it, just got ready to bid more.

rather nicely my vendor turned it down. But to be honest i was surprised! I didnt expect the vendor to give up money for my benefit, and as i really wanted it I would gave fought. Just my perspective!

Gwhiz

kmmr wrote: »

I was buying a house, had paid for survey, and someone came and offered more for it. I wasnt horrified or offended, I knew it was a good price and a good house, so I contacted my mortgage company for more money to be prepared to fight for it.

The vendor has a right to listen to other offers. they may need the money for some cause that i dont know about, and the extra £5k would have made all the difference.

But i didn't get caught.up in the morals of it, just got ready to bid more.

rather nicely my vendor turned it down. But to be honest i was surprised! I didnt expect the vendor to give up money for my benefit, and as i really wanted it I would gave fought. Just my perspective!

Hold on one god damned second. You know this is MSE don't you? You can't come on here and act all sensible and mature about this.

This is exactly how I would approach this. It may be a home but it's a serious financial transaction that needs to be done with a level head and not your heart. Getting all emotional over this stuff is a sure way to much stress!!