Gazumpers- SO RUDE!!!!

moneyistooshorttomention

My EA for last house told me I would be likely to get both investors and home-owners looking at the place. It was explained to me that, if I had a choice about it, then I would be best advised to choose a home-owner. So I expect this EA has explained the same to the vendor of this house and they might follow the same reasoning I did on this...

The reason being that investors wont have "fallen in love with" a house and are much more likely to try a last minute gazunder than a home-buyer. They said there are no guarantees a home-buyer also wouldn't try on a gazunder - but the chances would be greatly reduced.

In the event - the bidding war at the end was between a home-owner and an investor. There wasn't much in it financially to choose between the two of them - but I chose the home-owner (because of them being a home-owner and the EA had told me on their first viewing "They've fallen in love with the house").

phoebe1989seb

moneyistooshorttomention wrote: »

My EA for last house told me I would be likely to get both investors and home-owners looking at the place. It was explained to me that, if I had a choice about it, then I would be best advised to choose a home-owner. So I expect this EA has explained the same to the vendor of this house and they might follow the same reasoning I did on this...

The reason being that investors wont have "fallen in love with" a house and are much more likely to try a last minute gazunder than a home-buyer. They said there are no guarantees a home-buyer also wouldn't try on a gazunder - but the chances would be greatly reduced.

In the event - the bidding war at the end was between a home-owner and an investor. There wasn't much in it financially to choose between the two of them - but I chose the home-owner (because of them being a home-owner and the EA had told me on their first viewing "They've fallen in love with the house").

This ^

When selling our house last year our buyers had accepted an offer from a BTL investor before their house went live on RM, Zoopla etc. They had made an asking price offer on the understanding the house would never hit the internet, which was agreed by the vendors.

Days before exchange the cheeky beggar dropped her offer by £10k and insisted she'd changed her mind and decided to live in the house instead of renting it out. Our buyers - rather naive for their age IMHO - fell for this and, not wanting to lose our house at the eleventh hour, agreed to knock £10k off the sale price. Having morals themselves, they refused to pay us a penny less than the price we had agreed

Unsurprisingly their old house went up to let within a couple of weeks of completion

rosie383

That wasn't good for your buyers Phoebe, but why would their buyer changing from an investor, to wanting to live in the property, even factor into them wanting to knock £10k off? I don't get it.

moneyistooshorttomention

I presume that lying investor told some allied stuff to accompany the lie about "decided to live in it myself" - such as "Oh...I wont have so much money now - as I wont be making rental income on this place after all - so I cant afford to pay so much for it".

Yep...those friends of Phoebe's were naïve.

I've nipped in and bought my last house (pretty much at asking price) before it got to "the market" and no-one else got to find out it was for sale and compete with me for it - but the thought never occurred to me of gazundering the vendor (though...goodness knows....the vendor turned out to be even more of lying little s*d than I had already figured him out to be).