Offer accepted then changed their mind a week later

dannyjebb

That's true, ah well I suppose you also leave yourself vulnerable if a survey brings up problems further down the line. Will definitely be looking at the house buying insurance to cover us if this happens once we have paid out for solicitor fees and surveys etc

Thanks

csgohan4

better now than before exchange when you have sunk money in it,


at least you know the vendor is unreliable.


Wouldn't be surprised if their buyer falls through and they come begging you to come back

skywalker007

This is my biggest fear. Seller changing their minds to go for another higher offer. i am recently in the same shoes. I have noticed the EA still showing some people the house after my offer has been accepted 3 weeks ago. It's worrying and i feel the EA are the ones pulling this string. I dont understand why they still show people houses that have been taking off the market. I am just worried the EA might call me and tell me someone's else offer has been accepted.

moneyistooshorttomention

skywalker007 wrote: »

This is my biggest fear. Seller changing their minds to go for another higher offer. i am recently in the same shoes. I have noticed the EA still showing some people the house after my offer has been accepted 3 weeks ago. It's worrying and i feel the EA are the ones pulling this string. I dont understand why they still show people houses that have been taking off the market. I am just worried the EA might call me and tell me someone's else offer has been accepted.

Why on earth are you not ringing the EA and "reading the Riot Act"?

This happened to me - ie I found that the vendor had still got things in place that other people could be shown by my house AFTER they had accepted my firm offer.

I threw one huge tantrum about it and made it very plain indeed that I had noticed the vendor was trying to pull that one on me and it was going to stop RIGHT NOW or else.

The message was heard and it did stop.

It was just as well I had been suspicious about the seller in the event - as other people were interested in my house and trying to view it in the event but it didnt happen - because I had made it VERY plain indeed that the vendor had to stick to the agreement or I'd throw them and their house overboard as fast as you please and buy another one instead (and I would have indeed.....:)).

I was livid the vendor was trying that lark on me - but I dealt with it quick sharp and I suggest you do the same. Some people have the morals of an alleycat (apologies to cats) and do need dealing with firmly.

Marvel1

eddddy wrote: »

If you want, you can tell the EA that your offer is still on the table, and to give you a call if the higher offer falls through.

You can also call the EA in 4 or 6 weeks time, if you haven't found anything else, to ask if the sale is proceeding satisfactorily.

(That worked for me on one occasion. The seller had lost confidence in the person who made a higher offer - they were 'messing about'. So my call prompted the seller to dump them, and accept my lower offer instead.)

On the other hand would you want too, they did it once so will do it again.

loveka

We did this, on the face of it.

What actually happened was that one of the negotiators tried to Nick her colleagues commission by telling us that the first offer we had accepted was no longer interested in our house. So we accepted a lower offer. The first person was in fact still interested, so we accepted that higher offer, which was the first we had had.

Davesnave

eddddy wrote: »

If you want, you can tell the EA that your offer is still on the table, and to give you a call if the higher offer falls through.

You can also call the EA in 4 or 6 weeks time, if you haven't found anything else, to ask if the sale is proceeding satisfactorily.

dannyjebb wrote: »

I think we are both too stubborn to do that. We have sold our house which has completed so in a strong position, we have our mortgage ready to go. The strange thing is the estate agent didn't even ask if we want to increase our offer.... seems like the sellers took a dislike to us ....

So is it the case that this house isn't that special? Being stubborn seems a bad reason to give up completely on a property if it's really wanted.

However, I can understand you not wishing to enter a bidding war..

Emotions should play a minor role, because as you've found out, no one cares that much about how you feel. It's business. Many transactions fall through, especially those where someone has overreached themselves

cjdavies wrote: »

On the other hand would you want too, they did it once so will do it again.

May do it again. After all, if Theresa can change her mind.....

What we don't know here is how long the house had been on the market. Sometimes, if there's a flurry of interest early on, the sellers may think, rightly or wrongly, they've set the price too low. There's an argument that the market should be the final determinant. After all, why should anyone sell cheaply if several solid bidders come forward?