How to gazump?

new_home_owner_3

Dominique123456 wrote: »

Hi,

I'll tell you my situation - we have been on the market for months and have 'lost' many properties we liked because we didn't yet have a buyer place for ours.

We saw a property in a rural area that we totally fell in love with and is really close to my MIL (we were the first to view it). A week later we have a buyer who has to wait to sell theirs before they can buy ours but we have a potential cash buyer coming to view ours that day.

I inquire about 'the' house to check it's still on the market and find out that they are considering an offer that day from someone else. So I put an offer in 'on principle' for the asking price and ask the EA to ask the vendors to wait on making a decision, as if my cash buyer is interested I might be able to offer more. At lunchtime the vendor decides to accept the offer on the table while my cash buyer is still viewing the house. I'm gutted and desperate.

At 5.30 (after offices are closed of course) I get home and find message saying cash buyer HAS made an offer on my house.

So now, because I'm desperate and this house is so unique and perfect for us I am waiting for offices to open so I can attempt a 'gazump'. I feel so strongly that the house is for us - perfect for our dogs and for raising our baby. I don't know anything about the other people who made an offer but conceivable they could be a developer given that the house needs a lot of refurb and a new roof.

Anyway my wife and I have hardly slept a wink and I have been going over and over what I'm going to say to the EA that would give me a chance in the vendors eyes to consider it.

I'm only able to ask 5k over the asking price but for me it's not about money per SE it's about how much I love the house and won't find anything like it - maybe ever.

So I guess I should get to a question - a) assuming you're a decent person and you're the vendor - if I told you the above would it make a blind bit of difference?

b) What could I say or do at this stage (15 hours after an offer has been accepted) to get this house?

Thanks for your thoughts.
Dom

I wouldnt bother the other buyers will probably get the chance to match your offer if your willing to go higher and i think they will get first choice from the vendors.

I would just let it go to avoid the upset of losing out again, we got gazumped, im glad now has another house came up and it was much better, i personally would not dream of gazumping people, the house we finally got was on the market for over 12 months it was probate, and it had gone sstc twice within a week of being for sale , but we never once considered gazumping or viewing until it was available again, and has soon has it was we viewed and made a offer on the same day.

I think the sellers where that fed up with being messed around it was originally on for 229.000 we offered one 198,000 and they accepted and we sent a 1000 pound deposit has a gesure of goodwill and to show them we was serious.

Some buyers did come in and offered more than us but has we wasnt selling we was the best option.

You havent even sold your house yet what will happen if your buyer gazunders, and drops the asking price buy 10,000 pounds on exchange day.

Im not saying your buyer will gazunder, but if he does dont come moaning on here and asking for sympathy because in most peoples eyes, it will be just what you deserve.

bandofbrothers

Well im selling a property at the moment.

I have accepted an offer presently.

My ea is still allowing viewings with my authorisation and are also taking peoples names and numbers who are interested.

When the buyer makes posative steps in the buying process
ie
Solicitor arranged.
Mortgage given in principle.
Survey actioned

I will then take the property off the market as sold subject to contract.

I would not accept any further offers unless the present buyer pulls out for some reason.

In the end I believe my word is my bond.

Old hat you may say.
Dog eat dog etc etc.

I say,

My word is my bond.