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Offer accepted – now got another offer!
Comments
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Go with the second offer, take the extra money. You could then expect to exchange and complete in less than 4 weeks.
The sooner you get to exchange the less chance anyone will pull out0 -
yeah go for the second if they offered on the same day that way no one spent money for fees yet0
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As someone who was gazumped, I know how annoying and frustating it is. BUT there is a world of difference between being gazumped after you have spent money on surveys etc and commenced legal work than being gazumped the moment your offer is accepted.
A chain of 6 is a recipe for disaster, unless someone is prepared to break the chain it will be a logistic nightmare and won't happen.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
This situation has arisen purely down to the incompetence of your estate agent.He had an obligation to inform you of the second offer,whether it was lower or higher.Once an offer is tied up,and the finances and I.D.proven,then usually viewings are halted on the property.But as the house had already been viewed,he had no right to keep the offer from you.He should have advised you on which was the better offer,and the more likely to proceed,and should be working for you as his vendor,not the purchaser.Almost sounds as if had an ulterior motive in choosing the first offeree.Probably the rest of the chain included some of his properties also.
I work for an estate agents,and therefore know all that can go on!!Thankfully my company is very hot on doing everything in a legal and moral way with our customers.I would definitely consider seriously this second offer and make as sure as you can that it is likely to proceed,then go for it.0 -
It depends how much you need the money really, it's all well and good to be against gazumping but if the extra cash is really needed for your/kids futures etc then sorry but I'd be out for #1 - i've been screwed over by enough people in my life already to know that it's got to be that way.
Obviously things change if people have spent money on surveys etc as I wouldn't look to put anyone else OUT of pocket either.0
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