Making 2 offers?

bouicca21

My never ending quest for a house is transmogrifying into a quest for a flat. I've seen two. Flat A is nicer but is on the second floor of a block with no lift. The vendors have not yet offered on a place to go to. Flat B is slightly smaller, ground floor, same road but busier traffic flow. It is also chain free. Needs a bit of tlc.

I am expecting a section 21 which gives me 2-3 months to vacate, don't want to have to move to another rental as would be locked in for a 6 month ast plus all the referencing and admin fees. I also think that the section 21 when it comes will be invalid, so possibly I would have a bit longer. Presumably not a lot longer since all they have to is to re protect my deposit and issue the prescribed information (?) - seems like a matter of days to me, though I suppose I could be wicked and not tell them until the 2 months was practically up.

So I am thinking of offering on both and just seeing how things pan out. I feel very guilty about this, but I can't see any other way.

princeofpounds

Are they on with different agents? If not, that might complicate things a bit.

There is no logical or ethical reason why you should not do this. Some people (agents, vendors) get upset as it is not established practice, but vendors effectively do the reverse any time they hold sealed bids.

I recall an interesting thread a while back where someone offered on more than one property via the EA and said whoever was cheapest they would buy. The agent flipped and said they had reported them for money laundering. So I advised them to tell the agent that offering on multiple properties is not a crime and never has been, but tipping someone off on a money laundering investigation actually is a crime.

The unethical thing would be if you allowed a vendor to waste time or money on you, similar to a vendor allowing gazumping, so make a decision and stick to it if that is a concern for you.

eddddy

bouicca21 wrote: »

...
So I am thinking of offering on both and just seeing how things pan out. I feel very guilty about this, but I can't see any other way.

Hi bouicca

There's absolutely no problem with offering on two or more properties. In fact, it might speed things along if you tell the EA (or EAs) what you are doing, and that you will go with whichever vendor accepts your offer first.

Or do you mean that if both offers are accepted, you will pretend to proceed with both purchases (and drop one later)? That would definitely be unethical, and you wouldn't make any friends doing that.

Kayalana99

bouicca21 wrote: »

My never ending quest for a house is transmogrifying into a quest for a flat. I've seen two. Flat A is nicer but is on the second floor of a block with no lift. The vendors have not yet offered on a place to go to. Flat B is slightly smaller, ground floor, same road but busier traffic flow. It is also chain free. Needs a bit of tlc.

I am expecting a section 21 which gives me 2-3 months to vacate, don't want to have to move to another rental as would be locked in for a 6 month ast plus all the referencing and admin fees. I also think that the section 21 when it comes will be invalid, so possibly I would have a bit longer. Presumably not a lot longer since all they have to is to re protect my deposit and issue the prescribed information (?) - seems like a matter of days to me, though I suppose I could be wicked and not tell them until the 2 months was practically up.

So I am thinking of offering on both and just seeing how things pan out. I feel very guilty about this, but I can't see any other way.

I would rather rent for 6 months - then buy something I wasn't happy with. I can understand what your saying, but I would really think this though. When you buy a house you pay legal costs mortgage costs which is fine if you plan on staying their a while - but if you really want a house not a flat you won't get that choice again for a long time. (Some assumption their but something to think about)

bouicca21

I mean make two offers being prepared to proceed with the one that shows willingness to complete quickly.

And yes I would prefer a house and a garden but the bubble means that this is no longer achievable. I saw the perfect house at the weekend. But the location ... I could not bear to live there. So realistically I think a flat in the right location is preferable to a house in the wrong location. The lack of a lift in the nicer flat does bother me. Sooner or later I'll not be able to manage the stairs ... but with any luck my health will hold out for a good many years yet.

eddddy

bouicca21 wrote: »

I mean make two offers being prepared to proceed with the one that shows willingness to complete quickly.

That's fine - tell the EAs what you are doing, and ask for details of each vendor's ability and willingness to move quickly.

E.g. Have they found somewhere (if so is it in a chain), do they have a mortgage AIP for their next place, would they consider renting etc

Unfortunately, some people will mislead you, or their circumstances may change, but that's life!

Kayalana99

Sorry I've come back cause I've thought about this - is their any point putting two offers in? It's rare things sell over night and if they do - I think you would of snapped it up by now not be asking questions if it was that good of a deal - as far as my experience goes offers are usually accepted / declined fairly quickly as most people know what they would take.

If its the same EA, I'd tell them can you put XXX offer forward for Flat 1 (whatever is your preference) but also tell them if its rejected you will put offer XXX down on Flat 2.

That way - Flat 1 is under more pressure to accept your original offer?