Agent won't let me view repossessed house!

DVardysShadow

steve1980 wrote: »

You've not viewed the property, you're going on the information in the Home Report and you want to gazump someone!

Let is be and move on.

Rather naive. As roger says, it is a repo'd home on which someone owes probably more than the mortgage - which they will have to make up. In the housing crash of the 90's it was quite common apparently for EA's to keep back repo's for mates and fend off other interest - which was ultimately defrauding the former owners. Now you are suggesting that defrauding former owners should be accepted?

HAMISH_MCTAVISH

rpc wrote: »

I think gazumping during missives can be difficult..

Very difficult.

Which is an immensely good thing in normal circumstances.

Neither gazumping or gazundering are easy to do in Scotland, and long may it continue.

Both are despicable behaviours anyway. A deal is a deal and should be honoured by both parties.

CynicalScotsman

It looks like you have missed the closing date for all offers unfortunately and there is not much you can do about that. The scottish purchasing system is completely different to rest-of-the-uk, have a look here:

http://www.hastingslegal.co.uk/Legal%20Services/buying.html

DVardysShadow

CynicalScotsman wrote: »

It looks like you have missed the closing date for all offers unfortunately and there is not much you can do about that. The scottish purchasing system is completely different to rest-of-the-uk, have a look here:

http://www.hastingslegal.co.uk/Legal%20Services/buying.html

I know nowt about the scottish system. But as I see it, OP must have had a viewing appointment before the closing date for offers, by definition. This viewing being cancelled makes everything after that time shady dealing.

aralkaa

Thank's for all the helpful advice. I'm aware that the Scottish law system is different as is does not really allow any gazumping, but situation is a bit different when it comes to repo's. In this particular case there was no closing date as such, property has been on the market for almost 6 months at 'offers over £90.000' so I thought- we'll, that's beyond our budget as they're probably looking for something in region of £100,000. But then the price changed to 'offers over £80,000 so I've phoned up the agent straight away to arrange a viewing and get a copy of the home report and just before my viewing (so maybe 2-3 days after the price changed) was told that another offer has been accepted. It was a complete coincidence that I've found out that despite the property is in Scotland you're still allowed to put offers in up untill the exchange of contracts. Now as some of You said gazumping may not be the nicest way of buying a house but at the end of a day my money will be paying off somebody's debt. So the more they get for it the better. What I'm really furious about is that nor the estate agent, neither the bank, are interested in my offer! I will just go and buy another house but I'm really sorry for that debtor whose house is being sold.

dotchas

We have recently bought a repo in Scotland and looked at a few before that. All the agents said that once an offer had been accepted it was final in Scotland. Someone did try to offer verbally on our property but they were turned away. Long may it continue!

dotchas

aralkaa wrote: »

What I'm really furious about is that nor the estate agent, neither the bank, are interested in my offer! I will just go and buy another house but I'm really sorry for that debtor whose house is being sold.

What about the poor buyers who may have set their heart on the property and believe that their offer has been accepted and is final? And spent money on solicitors etc.

The offer must have been substantial for the bank to accept it while there were still viewings pending.

Gazzumping is a dirty trick and very frowned upon in Scotland. I doubt you'd find a decent solcitor to do it for you.

You could politely ask the agent to let you know if the other party can't complete the deal. But you have probably missed this one, you need to move on and another one will be along soon.

aralkaa

Listen, I'm not saying that gazumping is a good thing to do, I'm just trying to establish why on earth would the estate agent turn a buyer away? I mean, if I had a viewing booked they could have just let me see it and then go for a closing date. That would allow them to get the most for the property if there were 2 parties interested, don't You think? But the scenario when the price drops suddenly, somebody's putting an offer within days and a second buyer doesn't even get a chance to submit his offer just strikes me as being wrong.

aralkaa

To summarise: I'm well aware that I can't really do much about this whole situation now. But I think that initially, so just after the price dropped, I wasn't even given a chance to put my offer forward. I would think that when there are 2 or more interested parties it all comes down to a closing date which allows the debtor to get as much money for it as possible. In this case they lowered the price, took first offer they've got and didn't bother with what I was willing to offer.