Sale agreed....can we still put an offer in?

kaymarie35

Hi everyone, this is my first post on here and apologies if it seems a little naive.

My boyfriend and I have saved a small deposit together and are looking to buy our first house (FTB). We have seen one that we are very interested in, and have a viewing to see it on Saturday.
The estate agent had advised that there were 4 uncomfirmed offers on the house already but advised we should view the property.

we have just checked the website and the house now has 'sale agreed' next to it.

Where do we now stand? our viewing hasnt been cancelled. If we decided upon viewing the house that we wanted to put an offer in, is this still possible?

Any advice or help is very appreciated

Thanks

Fire_Fox

Welcome! I wouldn't bother viewing unless you are willing to get into a bidding war. You can still make an offer after another offer has been accepted, but it would have to be better than any other offer and the sellers would have to be willing to let the other buyers down. What is to stop them doing to same to you after you have paid out for a survey?

Lovelyjoolz

You can put another offer in once the sale is agreed. And the vendor could choose to accept your offer and break their agreement with the other buyer.

It's called gazumping. It's not a nice thing to do to the people who are under the impression that they have bought the house, but there's nothing really stopping you doing it. It comes down to your own morals.

jbainbridge

And if they accept your offer ... what's to stop them doing the same to you once you've spent £1k on a survey and started your searches. Not nice is it!

kaymarie35

Thankyou for your replies.

I don't want to get into a bidding war on our first house. I wasnt sure how definitive the 'sale agreed' term was or whether it could still fall through.

If we put in an offer but the seller still decides to stay with the original buyer, but the sale falls through. Would the estate agent then contact us to advise the property is back on the market or would we just have to keep an eye out?

Lovelyjoolz

You could contact the EA and register an interest in the house. Ask them to keep your number on file and contact you in the event that the sale falls through.

jbainbridge

Lovelyjoolz wrote: »

You could contact the EA and register an interest in the house. Ask them to keep your number on file and contact you in the event that the sale falls through.

That's probably the best thing to do. If you offer now it may end up in a bidding war. If the sale falls through you can start with a lower offer.

kaymarie35

Thanks again, good advice that i think i will follow :cool: