Offer accepted, ball rolling, higher offer accepted. Now what?

zipman23

Me and the wife put an offer in on a house having agreed a price on our current home. Even though the offer on our house was less than we would have liked, our offer on the property we wanted to move in to was priced accordingly and if it got us the move then so be it. It was accepted and solicitors were instructed, I've just paid £400 to my mortgage broker for her services and the surveyor for our buyer was at our house today to carry out the survey.

That was at 11am this morning (17th). I received a phone call from the vendors estate agents at 1pm informing us that a higher offer had been put forward the previous day from FTB's who viewed the house almost 8 months ago but have only been able to get a mortgage now and their offer had now been accepted. For the record, our buyer is also a FTB so no chain and mortgage is all sorted as is ours.

The back story to this is the property has been empty for almost 2 years and has had no interest and no offers bar ours. Our offer was accepted 2 weeks ago and the SSTC sign was put outside our house within hours but not at the other house...and still hadn't yesterday which I thought was abit odd. The wife is 6 1/2 months pregnant and school/nursery places have all been confirmed.

The website of the vendors estate agents still doesnt even show the house as being under offer or SSTC yet our property shows SSTC and the board outside reflects that.

Is this allowed to happen and is the £400 as good as gone or can I stop it before it is processed by ringing my card issuer just to be on the safe side?

We couldn't port our mortgage across from current provider as they said they didnt think we could afford it even though the purchase price would have knocked at least 25k off our balance hence the need for a new mortgage.

I've been in this situation before where I have attempted to put an offer in on a property only to be told that it is sale agreed and that I can't which is fair enough but now I am being told that by law, estate agents have to tell the vendor if a higher offer is made no matter how far down the line it is!

I think that absolutely stinks and I am more than a little bit pee'd off so would like abit of advice as to what I can do (if anything) before I ring estate agents on Monday morning.

Thanks

Whiner

Sounds like the seller of the house you want to buy is chancing their luck to get you to pay more money for the house to me...

tigsly

When we have offered on house - our offer has been on the condition that the house is taken off the market.. and everytime it has been..

By the sounds of it your vendor is looking for money - for me - the fact is has been on the market for 2 years is an indicator the vendor is in no rush and will hold out for a better offer..

If it were me - i'd have canceld the payments yesterday -and rung the bank to put the valuation on hold (the valuation normally takes a while to process..)

as for the broker fee - i'm not sure i guess you signed a contract?