Gazumpers- SO RUDE!!!!

Missus_Hyde

kinger101 wrote: »

The problem with this argument is that although neither party is committed until exchange of contracts, the seller's reneging on a previously accepted offer only highlights their attitude to the part of the buying/selling process which does rely on mutual trust.

I think people are being too harsh on OP, and being a little unreasonable in their disregard for the sense of fairness. It's rather disingenuous to say this is how business works. No business sets out to trash it's own reputation early in a deal.

Absolutely and I also agree with Money (I'm the same sort of age.)

We've just had a firm offer from what appears to be a super buyer which we've accepted for my late mother's house (this was before the house was properly on the market as houses sell very quickly around here.) The EA had stock of prospective buyers lined up. Although the house is listed as being "Under Offer", I suppose that it's possible that we may get another higher offer. However, having given our prospective buyer our acceptance, we certainly don't intend to renege on her offer and disappoint her; I wouldn't like someone to do that to me!

Like Money, I'm a little cynical, but I'd like to think that some people do still have a few morals.

pickles13

Firstly, we lost out on the house we originally had an offer accepted on (not gazumped, the vendor was a time waster) and everyone said "you'll find somewhere better" and 3 months later, the house that we are currently buying came along, beautiful, all done-up (the other needed gutting), and in a much more convenient location.

Secondly, the house that we are in the process of buying already had an offer on when we viewed it (not accepted) but the vendor waited for us to view and we offered. Initially the EA tried to get us into a bidding war and told us we wouldn't have our offer accepted or rejected for a week as the other buyers were trying to secure extra funds. I made it clear that we were not offering a penny more, and that it sounded like we were a much safer bet as we were in a comfortable position with the mortgage (we were 40k under our maximum so not having to 'secure extra funds'.) A few hours later, the EA called to say that the vendor did not want to play games and did not want to lose us as she had found a house she wanted, so it was accepted. Good luck.

jjlandlord

"Under offer" just means that you received an offer.

If anything, the label is intended at attracting more offers...

societys_child

nubbins wrote: »

Put in an offer for 10k over, string them along whilst looking for other properties, at the last minute drop the price 10K....karma!!!

Cant believe someone actually "thanked" you for that. Apart from anything else, how much would the buyer have spent by the time they got to "the last minute"?

Missus_Hyde

jjlandlord wrote: »

"Under offer" just means that you received an offer.

If anything, t!he label is intended at attracting more offers...

So be it; but that doesn't mean that just because someone comes along and offers more, we necessarily have to accept it!

Of course, our buyer could withdraw at any time; that's her prerogative, but hopefully she won't as she appears keen and really seems to want the house. I'm fairly confident that if she did, there is a queue of others keen to buy (as I said houses are going very quickly round here.) It also appears that she will fit in nicely with the other residents; I'm keen that we find someone that will do that,as my mother's neighbours are fantastic and I would hate to introduce someone into the community that upset the applecart, so to speak. I know my mother would not have wanted that either.

I would agree that perhaps if someone was looking for a property for BTL then it is viewed much more as a business proposition, rather than a family home. However, again for the reasons I've outlined above, I would be very loathe to sell to a BTL buyer, espacially as it was my parents' home and they were very happy there. (They'd be turning in their graves if they thought we'd been greedy and done the dirty on someone!!)

jjlandlord

People can do what they want.

This is a business proposition and in fact the largest business transaction most people will conduct in their lives.

Emotions will come in the way, but one should not get emotional. Your brain must be firmly in control.

nubbins

societys_child wrote: »

Cant believe someone actually "thanked" you for that. Apart from anything else, how much would the buyer have spent by the time they got to "the last minute"?

No need to get on your high horse child it was meant as a bit tongue in cheek, maybe the thankee's got that!

nzseries1

fayecosford wrote: »

All i can say to any gazumpers out there...have abit of thought for what the other party are going through, it really really isnt fair,

As a gazumper, if I really want a particular house (same as you do), and I have a choice between me missing out on a house I really want, and somebody whom I don't know and will never meet getting a bit upset for a while, then I'm sorry, you're going to be the one that loses out.

Rude? Perhaps... but there's a saying - don't hate the player, hate the game. What I mean by that is, it's the system that needs to change, not the buyers.

moneyistooshorttomention

nzseries1 wrote: »

As a gazumper, if I really want a particular house (same as you do), and I have a choice between me missing out on a house I really want, and somebody whom I don't know and will never meet getting a bit upset for a while, then I'm sorry, you're going to be the one that loses out.

Rude? Perhaps... but there's a saying - don't hate the player, hate the game. What I mean by that is, it's the system that needs to change, not the buyers.

Oh....so that's alright then:cool:.

I presume "a bit upset" is all they are getting? - ie you reimburse them the money they have spent on buying the house so far, so that they've only got hurt feelings and not a hurt bank balance??

rosie383

I think there will be times when people gazump unknowingly if the EA hasn't told them there is already an offer on a property, but to do it on purpose is just so wrong!!