Gazumped on day of exchange!

Buzby

Is this a property in England or Scotland? If the latter, you ave an automatic right to reclaim all justifiable costs, fees and expenses due to the non performance of be vendor (whether in a chain or not).

moneyistooshorttomention

Not sure it would be wise to engage with this particular vendor again personally.

In OP's position, I would tell everyone the name/address/etc of vendor that had done this to me (particularly if it was a small community;)) and then move on. Meanwhile, watching all the websites any future house came up on like a little hawk (the EA's, Rightmove, etc) and be straight in with a demand for an explanation if there was ANY change whatsoever to any of the house details for any future house I chose (and simply not believe any soothing comments from any EA...even your own...as to why there might have been a change). Just keep asking why the change was made and repeating loudly "Its MY house now...I am in process of buying it" (followed by hints that I might change my mind and choose another house instead if there was any further "funny business").

A vendor who is wavering a bit might not be able to resist the temptation just to change a photo for a better one or not have it completely clear on a website that the house has been "sold" or something and it needs to have a very firm eye kept on any little things like that..

rpc

Buzby wrote: »

Is this a property in England or Scotland? If the latter, you ave an automatic right to reclaim all justifiable costs, fees and expenses due to the non performance of be vendor (whether in a chain or not).

Given that you don't "exchange" in Scotland I think this is England.

In any case, withdrawal prior to missives being concluded does not incur any penalty. There is no binding contract until conclusion of missives (which is the equivalent of exchange, we just get there quicker). There is no non-performance because no binding performance is agreed.

Gazumping doesn't happen because, in the scenario OP describes, the vendor's solicitor would be forced to decline to act.

I_have_spoken

Bad for the OP, but certainly shows the London property market is up, up and away!

VICSH

OP this exact thing happened to me and DH 7 weeks ago we were left out of pocket to the tune of over 3.5K, with another baby due in a couple of months and we lost our buyers too. It was a bitter pill to swallow and still is but you know what, the people that play these games will do but one day they will come unstuck, and maybe you will be lucky enough to witness it (that is my thought anyway)....

Road_Hog

SnooksNJ wrote: »

Because they are sociopaths

Spot on, most people don't realise what a sociopath is, and it is nothing to do with a psychopath. The word empathy doesn't even register on the scale for them, they have no conscience.

To the OP, you have my sympathy, I know that probably doesn't help you now, but it is all I can offer.

Apart from another bit of hard nosed business advice. And I don't mean this in a condescending way, it is meant as help. Next time, get it in writing, that once you've put the offer in, that the house is taken off the market and that no further communication from potential buyers, will be entered into. Don't get a verbal agreement, get it in writing, that way if you do get shafted, you can take the estate agents for some money.

It should stop the agents, and if they do the dirty, well you get some money.

Babooshki

I am so sorry this happened OP, I really do feel for you, what a terrible mess!

Aside from the venal, ruthless and totally selfish vendor, I would place the blame squarely on the EA. They have caused this situation with their back-room manoeuverings, no? Reminds me of situation we had 2 years ago whereby we were buying a house but our end of the selling process was taking longer than expected; next thing we know we get a letter fom EA stating hosue has been sold to someone else as buyer couldnt wait. There was no deadline for exchange stated, no communication with the solicitor, they simply allowed someone to make an alternative offer. Of course, we lost money on solicitors, surveys etc. Every time we enter into the shadowlands of house-buying, we have the worst luck ever, you are not alone in that. I'm not even going to tell you the pickle we are in this time round....

ognum

I would be interested to know who the Estate Agents are?

I believe what goes around comes around and if you do not deal with people respectfully and in a buisness like manner then you will be badly dealt with in the future. it's Karma.

please let us know who the Ea is.

Dan-Dan

Babooshki wrote: »

I would place the blame squarely on your EA.

The OP has no contract with the EA , it is not HIS estate agent


As ognum says , name and shame please!!

Road_Hog

ognum wrote: »

please let us know who the Ea is.

Just to balance that, in fairness, if someone has been a complete at Acme estate agents, not all their branches may be like that. Yes, it could a corporate culture that everyone is trained into, but it also could be just some lone vulture from one branch.