How to gazump?

aderbyshirelad

I thought that only once an offer had been accepted, only people who had viewed the property before the offer had been made were "allowed" to put in further offers? Probably not true - an estate agent told me!

Debt_Free_Chick

I think it's worth bearing in mind that someone has made an offer that the vendor has accepted - but the property is still on SSTC.

At the present moment in time, the vendor can pull out and leave the buyer in the lurch - with no explanation. And the vendor can still do this, after the buyer has spent money on a survey, solicitor's fees & searches. You need only to look at previous posts to see how often this occurs.

It does, of course, "take two to tango". You need a second buyer, willing to gazump. And if you believe they are "unscrupulous" and/or "immoral" then you need to bear in mind that the vendor has to agree to the gazumping tactics .... so they are as unscrupulous and/or immoral as the gazumper.

Just my two penn'th

(I've strayed away from the questions and decided to express an opinion - for what it's worth!!!! )

goldbyron

Exactly what I would say debt free chick! If the vendor is willing to gazump there is no saying that the same wouldn't be done to you.

Wig

by "you" if you mean me that would be fine, business is business.

TJ27

The land reg will probably give you the owner's name and address, the address being the property itself. So I doubt that you'll be any the wiser really because you still won't know where the vendors are living. Worth a try though, it's only about three quid.

But I too think that the proper thing to do would be to register your interest with the EA, just in case the sale doesn't go through.

Jamz

Meh, move on and find another house.. you have a scummy attitude..

olly300

While gazumping is legal not all estate agents and vendors are interested in doing it. Simply because the estate agent has a reputation to protect in that area, and the vendor is happy with the price they have got for their house and don't want anymore hassle. Plus as everyone else raised here there are ethical questions.

BobProperty

Wig wrote:

.... I think we should have laws like France but until we do alls fair in love and war......

Don't they pay about 10% in fees, admin, VAT etc. etc. to buy a house. Can't see the UK rushing into doing that

mountainofdebt

I would worry that if the seller is prepared to let you gazump their first buyers then they would be quite prepared to let someone gazump you .......

scorpio_princess

Wig wrote:

Erm, why can't you just answer the questions instead of going all "moral authority" on me. I don't wish to discuss the ethics of gazumping, but at the end of the day it's a free market. I think we should have laws like France but until we do alls fair in love and war.

When you're talking about something as contentious as gazumping, i'm afraid ethics have a lot to do with it (obviously an alien concept to you). You seem willing to trample over anything and anyone as long as you get what you want. Just because it's not illegal, doesn't make it right! I just wish everyone would have more of a sense of "moral authority" - I just can't stand underhand tactics and lies, and treat others how I wish to be treated myself. Guess that means I'm never gonna be very well off financially, but then so be it - i'd rather be that than a rich, money-loving scrooge. Go ahead, gazump - but I believe that what goes around comes around...

Sorry if this seems a tad OTT, but I have really strong opinions and principles - I just cannot walk all over people for personal gain. Maybe that means i'll forever be walked all over by other peolple, but I don't follow the 'if you can't beat em join em' mantra.


And yes, I am having a bad day :mad: roll on Saturday :j