Offer accepted – now got another offer!

Doozergirl

It isn't exactly gazumping when you're at such an early stage. If the buyer has spent money, then that would be an issue.

I'm not sure I'd even consider selling to someone with 6 in chain - that is a world of trouble; you'll be moving in about a year if you're lucky.

I'll be very frank. In your position would dump your orignal buyer like a shot. Even if they'd spent money, I'd refund it to them.

Doozergirl

Seriously, I'd take LESS money to avoid a chain that long! Especially at that price point; the chain really shouldn't be that long

Are you buying as well? If so, a chain that long is not going to stand you in good stead in terms of having an offer accepted.

CB1979_2

let's be honest now it's all about getting the place sold. get them to get the application proven and get moving on it.

as you say the original people are in a chain of 6, plus you & anyone else above you.

if it were me, i'd take the higher offer but only because they'd be able to move faster (theoretically).

and I don't think the people above you are gonna want to wait months & months & months!

beachbeth

Im so totally against gazumping and I would go along with the first offer. I would hate this to happen to me even this early in the game after having my offer accepted. As someone else said, what goes around comes around and you can go with the first offer absolutely guilt free.

CB1979_2

beachbeth wrote: »

Im so totally against gazumping and I would go along with the first offer. I would hate this to happen to me even this early in the game after having my offer accepted. As someone else said, what goes around comes around and you can go with the first offer absolutely guilt free.

but lose out on their home they're buying???

look after No 1!

Doozergirl

There's principles and there's common sense.

If 1 in 3 house sales collapse and the OP ends up in a chain of 7 (or more if they are buying!), then you almost guess what is going to happen.

Is anyone who advocates going with buyer 1 actually in a chain this big? You have to prioritise and for me, the FTB who will usually be ready to exchange in about 6 weeks FAR outweighs the months of waiting, the chinese whispers, the lies, the egos and the total heartache and possible eventual heartbreak of a collapsed chain. Anyone who has been there knows, surely

Woody69_2

I wouldn't have accepted that offer in the first place given the chain. With the asking price of £116000 you have a good chance of a FTB. If you are buying somewhere else you might struggle to find someone happy to accept an offer from someone in a chain of 7.

bylromarha

I'd go with the second offer myself.

All reasons listed above...chain of 6, the fact the offer was the same day, more money. 1st person offering will be disappointed, but best you get out of the chain of 6 now IMO.

olive84

Definately go with the second offer. I'm in a chain of four, and that's gone on for months, a chain of 6 won't be ready to exchange for at least 4 months I wouldn't have thought. I don't think its really gazumping at this early stage. Tell them before they've spent any money and let them get on with their house hunting.

BTW, any idea why they are in such a long chain? Your house price is ideal for a FTB, can't imagine why there are so many in their chain.

lavandergirl_2

call me old fashion but years ago people would stick to their words- gentlemen's agreement as we say.