would this be ethical?

daisymay2008

We sold our house to a first time buyer for a good price....we offered on another house and they accepted for £3500 below asking price (had already been reduced by 15k) it's in the area we want and has 3 bedrooms. We realise that for out budget you can't tick every box and sometimes we have to make sacrifices, in this case there is no drive and we know that we would have to move again in around 10 years.....

so basically we are having a few doubts..... this house is with the same agent that sold ours, however since our offer was accepted the same agent has another house with a drive and garage and three double bedrooms again in a good location but needs a little work (no problem there) but this would be a 'forever' home without doubt so would save on the £5000-£7000 to move again in 10 years..there is the potential to get this for 6-7k more than our accepted offer on the first house

we would like to view this house but don't want to upset the vendors who accepted our offer and i really don't want to mess them about!!! to the point where they tell us to do one and we end up without any house to move into!!

also will the agents allow us to view this other house and will they be duty bound to tell our vendors??

help:(

McKneff

You have no need to worry about this, it happens all the time.
No one can expect you to buy something that you are not happy with 100%.

Do what you want to do, its your money, and its a lot of money.

I would just go for it and see what happens.
Good luck

theartfullodger

It is admirable to try to be ethical with buying & selling property.

However, nobody else in the game (surveyors, agents, sellers, buyers. mortgage advisers, developers, ..) seems to be that hung up about being ethical....
(pause for flames...).

So, do what you want.. it's what Thatcher taught the country to do!

ManicMum

I doubt the agents will care. They just want a sale so will sell you whatever you are happy to buy.

Only thing I think is wrong is when people pull out right at the end. JUst try to make up your mind as soon as you can. Good luck with it all.

daisymay2008

thanks for the replies and understand what your saying, obviously if we pulled out and purchased the slightly more expensive then the agent would get paid more...

i suppose the real concern for us is that the current vendor may get the hump and decide not to sell to us at all:( at this stage nobody has spent any money on valuations etc and we would certainly make our minds up quickly and not leave it until the last minute

jackomdj

Personally I would go & look. The estate agents would be fine about it.

[Deleted User]

As others have said, its a big purchase.., so if there's another house that would be your 'forever' house, for so little more.., it would be foolish to not go see it. If u feel the need, tell the vendors but to be honest, I think there's no need. As has also been said, its only when u'r a day or two from completion and the vendor has incurred financial losses and might lose the house they want to buy that moral and ethical comes into play. I doubt u'r in that situation right now.

KiKi

daisymay2008 wrote: »

We sold our house to a first time buyer for a good price....we offered on another house and they accepted for £3500 below asking price (had already been reduced by 15k) it's in the area we want and has 3 bedrooms. We realise that for out budget you can't tick every box and sometimes we have to make sacrifices, in this case there is no drive and we know that we would have to move again in around 10 years.....

so basically we are having a few doubts..... this house is with the same agent that sold ours, however since our offer was accepted the same agent has another house with a drive and garage and three double bedrooms again in a good location but needs a little work (no problem there) but this would be a 'forever' home without doubt so would save on the £5000-£7000 to move again in 10 years..there is the potential to get this for 6-7k more than our accepted offer on the first house

we would like to view this house but don't want to upset the vendors who accepted our offer and i really don't want to mess them about!!! to the point where they tell us to do one and we end up without any house to move into!!

also will the agents allow us to view this other house and will they be duty bound to tell our vendors??

help:(

Do it. I was in exactly the same position as you five years ago. The flat I really, really, desperately wanted went to a cash buyer (despite them accepting my offer!), and so I saw a flat a few doors down, which was nice, but not a patch on the first one.

However, I needed to move urgently, so with the first one gone, I put in an offer on the other nice one (after calling the agent to see if there was any chance the first flat sale had fallen through - no such luck!).

Two weeks later first one I really, really wanted went back on the market. I didn't know what to do so I called my dad for advice; I felt terrible about pulling out of a sale, which was a flat owned by a couple expecting a baby who also needed to move. I really felt awful and apologised to them personally.

But at the end of the day, this is going to be your home for the next ten years or so; you've got to love it and want it. People pull out all the time with no thought at all, so your ethics are very admirable. But this will be one of the most expensive purchases you ever make, so go for it and go see the other house. You may hate the inside so it may be a non-issue!

If you are really, really worried about the agents saying something to your current vendor which might lead them to not selling to you, get a friend to call and arrange the viewing - you can turn up as a supportive friend who might be their future neighbour! That way you can see the inside with no comeback and then make a decision.

KiKi