Offer accepted and then declined

xylophone

They've behaved very unpleasantly with me aswell by accepting my offer and then rejecting it a week later by accepting £5k more from someone else. I had the survey arranged mortgage agreed and paid for. Dog eat it dog out there at the moment.

See post 10? And how long would this tit for tat continue?

katejo

Windsorcastle wrote: »

It's a horrible thing to experience, but unfortunately some people are very greedy. It's also a good reason why buyers should do everything possible to move to a speedy excahnge before a greedy seller can get a higher offer.

When I sold my property this year, I accepted an offer, and then a few days later, someone else who had viewed the same day, put in a higher offer and was really bullish with the EA, basically saying he would top whatever offer I had. However, I do think what goes around comes around, and I stuck with the original lower offer I had accepted, because that was the decent thing to do.

If karma works, your greedy seller will have the sale fall through a few months down the line when the gazumper walks away!!

Perhaps the gazumper will then be the gazunderer and offer a figure below the amount which you offered! That would really serve the seller right

paye

xylophone wrote: »

See post 10? And how long would this tit for tat continue?

for a short period of time . Btw my misses agrees with you and has told me off :cool:

sulphate

Don't forget the seller may have a need to accept the highest offer he can get depending on how much his mortgage is. If you gazump the seller and he walks away for this reason you'll be the one out of pocket as by that time you will have already paid out for surveys, searches and solicitors fees.

DaftyDuck

In my experience, a vendor who will drop you for a higher offer at the outset will certainly drop you when you lower your offer.

All you'll achieve by this is: losing your survey and solicitor fees, pi55ing off the local estate agent, upsetting your chosen solicitor (and the vendor's solicitor for good measure), irritating your chosen mortgage broker, a month or more of stressful dealings with solicitor and agent, and gaining a local reputation with the other agents that you might play silly tricks if they advise any other vendor to accept an offer from you.

Aside from that, it's a brilliant plan!

paye

sulphate wrote: »

Don't forget the seller may have a need to accept the highest offer he can get depending on how much his mortgage is. If you gazump the seller and he walks away for this reason you'll be the one out of pocket as by that time you will have already paid out for surveys, searches and solicitors fees.

Thanks I've taken that into account and I am prepared to take the gamble.

Odie_Schmodie

Getting gazumped may have been upsetting but I don't quite understand why you felt THAT aggrieved financially - it sounds like you'd only paid 100-200 pounds for a mortgage application, as the arrangement fees are not paid until you actually take out the mortgage. I think you should cool off a bit since I doubt this person will cave in and sell to you at the very end if you do try to revert to your original offer, and even if they do I am pretty sure there are things they can do in the property that would give you a headache when you're moving in and after. At this point you should just forget about how this unfolded and think if the house is really worth 5K more. If you are taking out a mortgage over 20 years the difference in the long run is really negligible. You might also wish to "play nice" instead and just communicate how upset you were and how much of an inconvenience the gazumping would have been for you and you never know they might leave some nice appliances or furniture etc. that you could use.

ging84

gazumping although unfair, it involves no deceit and is 100% legal, deceiving a seller by making a false offer may not be.

FR_262

gazunder? that's a potty that gazunder the bed (used certainly in the early 1960's until indoor facilities were provided)

ValHaller

xylophone wrote: »

What a very unpleasant way to behave - I hope that the vendor will walk away.

verulamium wrote: »

Two wrongs don't make a right!

I can't see that at all. Plainly the vendor thinks it is OK to gazump, so if it is not wrong in the vendor's book to gazump, it should not be wrong to gazunder. This will be a case of 2 rights making a right. OP is obviously happy to risk fees along the way ....