Advice please Gazumping / Estate agent mix up

Milky_Mocha

I agree that you should go with the current offer as they are in a good position, unless these new buyers are cash purchasers, otherwise its not worth the risk of losing out on both. If the current buyers are informed of anything too soon it might make them nervous or even rebellious. I know of one instance where a buyer was messed about, compelled to increase their offer after a similar situation and then deliberately pulled out later just to spite the seller. It wasn't pretty.

sinizterguy

You got your asking price. Dont be greedy.

Jennie_2

We got stitched up when a seller pitched us against someone else. We offered the asking, agreed what we thought was a deal and then at the 11th hour the seller said someone had come out of the woodwork offering more.

He basically wanted to play us off against each other, except that we had offered as much as we could. Our son was a new born baby and we had nothing left to give.

He went with the buyer who offered more (which in the great scheme of thing doesn't amount to much over the years of a mortgage) who subsequently let him down.

The sellers wife then rang me and begged me to give them another chance. Saying they had over committed and were going to have a to get a bridging loan for their new house.

I told her she got what she deserved; they were greedy and underhand and I would rather be homeless than buy their house. I could never trust them again.

She apologised for their greed and I know the house took a while to sell.

Does this help? I am not saying it will happen to you but sometimes chasing that extra bit of money can risk so much.

Good luck. I hope it works out for you.

blue_haddock

Remember the old saying - a bird in the hand is worth two in the bush.

Your current buyers seem very genuine and you will probably have a pretty smooth deal whereas the other chap seem like he could cause all manner of problems down the line.

thesaint

Someone who will offer more than the asking price before even viewing the property should be eyed with caution.

hjb123

I would stick with the offer that you have current accepted and tell the estate agent that its their problem that the other buyer has missed out - and also haggle for a reduction in fees etc

Kaz2904

If this man is going nuts because you have accepted an offer before he's viewed then what else is he going to cause problems about? You might have still accepted this first offer even after having his higher offer. I would steer well clear and just get on with it.

Bernie

...and of course, sticking with your agreement is the right, and British, thing to do - that's probably why you felt discomfort in the first place. Good for you!

I personally cannot abide people who are not good for their word be it for something trivial or something as big as this. Probably a legacy from my military past where trust and reliance on others was and is still a big part of the scenario.

I only wish the law was the same for this house buying malarky was the same too......

MJMum

I agree with everyone else - stick with the buyers you have, as they seem genuine and are FTBs.

I would think that the EA would be willing to knock something off his fees, because as you point out, he has not yet incurred advertising costs, but remember that you were willing to pay the amount you originally agreed for him to find you a buyer, which he has done, at the asking price which you thought was quite high to start with. Be happy!

Keep your EA on side, just in case anything does go awry and you never know, you may need to be introduced to this other buyer again later Hopefully not though. Good luck with your sale and I hope it all goes smoothly.

spunkeyrich

time and agin i have seen people as an estate agent that are desperate to view a home that is already under offer, time and again these people have pulled out. There is nothing more saleable than a property that has already sold as some people believe there is nothing in life they cant have. As a previous poster said if this guy has been agressive about it, he will probably cause you problems on any little thing, also, if he agrees a higher price than your current buyers he will probably look for any excuse to lower the price.

As regards to the Estate agent he is at fault for not passing on the viewing, it is not compulsery to tell a buyer about anyother viewing but it is advisable, they may get the know about it some other way and any goodwill you have will be gone.

Ultimately it is your decision not the agents, he will be seen at fault from someone or other but at least he admitted his mistake and told you about it. Sounds like the agent is trying to do his best and doing it properly to me.

rich