Accept offer or cancel viewings?

Doozergirl

congrats, stevie wonder! :beer:

It's all about holding your nerve You can rest happy that you weren't in the bargain basement as far as price is concerned!

Off the market, no more viewings, well done

StuHolmes

Happy_saver wrote: »

The EA is now upset with me because the 2nd buyer has now increased his offer to £15k above the agreed selling price to the 1st buyers.

But, I 'm still sticking to my principles - no gazzumping.

Bloody hell! £15k loss because one bid was 15 minutes before the other! I think you are crazy. Your potential buyers had not committed any money. Barely had time to tell their nearest and dearest, or put their offer in writing!

Not really Gazumping in my eyes.

mr.broderick

If I were your buyers I'd been having negative vibes and would have the element of mistrust. I would perceive you as greedy and would try a little chip later in the process, after survey for example.

stevie_wonder

mr.broderick wrote: »

If I were your buyers I'd been having negative vibes and would have the element of mistrust. I would perceive you as greedy and would try a little chip later in the process, after survey for example.

What even if the survey comes back with no problems?

nobblyned

Happy_saver wrote: »

The EA is now upset with me because the 2nd buyer has now increased his offer to £15k above the agreed selling price to the 1st buyers.

But, I 'm still sticking to my principles - no gazzumping.

That's a bit daft.

Looks like you got carried away and let your desire to seal a deal draw you into not accepting the best offer on the property. Hardly MSE.

This should be a lesson to people not to be hurried into accepting the first decent offer when they are in a strong position. That's the art of negotiation for you.

Doozergirl

stevie_wonder wrote: »

What even if the survey comes back with no problems?

Yes. mr. b obviously believes that you are underhand if you don't accept an asking price offer straight way and would show you the correct way of doing things by blatantly gazundering you. :rolleyes:

stevie_wonder

Doozergirl wrote: »

Yes. mr. b obviously believes that you are underhand if you don't accept an asking price offer straight way and would show you the correct way of doing things by blatantly gazundering you. :rolleyes:

LOL - in the same way i won't accept gazumping (especially when the buyer has shelled out for a survey - which isn't yet), I won't bow to gazundering either TBH the buyer has as much to lose as me. As you said doozer, its about holding your nerve - high stakes poker, but you've got to be prepared to lose too.

IMO gazundering is worse than gazumping. It is an underhand way of negotiating - if you don't want to meet your offer, then why make it? let's just hope that neither happens to us, eh Doozer?:beer:

Happy_saver_4

StuHolmes wrote: »

Bloody hell! £15k loss because one bid was 15 minutes before the other! I think you are crazy. Your potential buyers had not committed any money. Barely had time to tell their nearest and dearest, or put their offer in writing!

Not really Gazumping in my eyes.

Integrity - adherence to moral and ethical principles. No mention of OK to renege in 15 minutes

We obviously have differing scruples. I'm honest and keep to my word.

If you make a deal why do you think you have the right to renege - because the other party hadn't told their nearest and dearest? I hope I never do a deal with you.

I know their £15k higher offer was only made because I had accepted the first offer and I advised them I would not be involved in gazzumping. They seemed to think that I had low moral values and would succumb to greed.

These type of people/buyers will also mess around and often at some point realise they are paying too much for the property and attempt to reduce the price before exchange of contracts. Their offer was £15k more than the highest valuation by 3 independant EA's.

I have negotiated well over a 1000 property sales and know what I'm doing.

Happy_saver_4

nobblyned wrote: »

That's a bit daft.

Looks like you got carried away and let your desire to seal a deal draw you into not accepting the best offer on the property. Hardly MSE.

This should be a lesson to people not to be hurried into accepting the first decent offer when they are in a strong position. That's the art of negotiation for you.

Unfortunately you prefixed your posting "That's a bit daft". I am pleased to see you then continuing with " looks like". Obviously you realise you are making comments without knowing the facts.

To give you a few further facts.
The property had been on the market for two months and in that time 12 people had viewed and no offers rec'd. On the morning in question I negotiated a sale price within 1% of the asking price with a buyer who had viewed a couple of days previously; he'd hardly rushed to buy.

During the course of that day I receive a further offer £15k above the property value, as advised by 3 independant EAs. Now this second offer was only made at such a price because I'd already accepted the other offer. Whether a sale at this inflated price would have actually reached completion is a matter for debate; I seriously have my doubts. I'm sure at some point they would have been wanting to renegotiate the price.

However I have retained my integrity and I believe the potential purchasers I have selected will make excellent neighbours for us. We are currently completing 2 houses in the same lane for ourselves and daughter.

We'll just hope matters proceed to completion - if not we'll re-contact the other buyer and if that doesn't work - start again; perhaps we'll put the price up - it seems it's still a rising market :rotfl::rotfl::rotfl:

Gorgeous_George

Well done Happy_Saver. Once a deal is accepted, it is morally binding and it is about time the law caught up.

I hope everything goes smoothly and stress-free.



GG