Gazumped after paying fees!

Diddydot

Okay so I’ve read a few threads and seen that this is common. We bid on a house through PB two weeks ago. For the past week I have been getting emails to say that the sellers were still accepting house views via email. We put it down to site issues. (We were foolish). In the two weeks since our bid was accepted we have had a mortgage agreed (paying fees) and paid for a survey. Today we get a call to say that the house has had another offer VERY similar to ours and that we have to give our best offer within 24 hours. We offered 1.5% below the asking price. Our offer is very reasonable. We sold our house with a local estate agent and when we accepted it was taken down from the market immediately. I assumed the same when our bid was accepted. I’m totally annoyed. I understand the buyer wanting to get the best price. But maybe when it starts to cost the other people money it’s rude. I just feel peeved. It’s being sold with PB so zero commission and no need to invent additional bidding. Even if we up our bid what’s to say this won’t happen again. I feel as if the seller has been unfair to us. We have spent money on this now and it’s pay more than we wanted or lose money. (We have already lost £2000 as our original property fell through). Whatever happened to a gentleman’s agreement!

CurvyLailah

This bloody happened to my younger sister just 2 months ago!
Sorry reading your post just really got me angry. What has happened to people honouring their word?? She had the best meet with the house owner she and her husband met to view the house. They put in their offer the same day on agreeing with the owner his last and final price. At the last hurdle he decided his final price wasn't enough and took a higher bid! Left my sister almost with no home as they had advised their landlord they were leaving. Ridiculous but unfortunately how it is in the housing market.

Diddydot

Was your sister buying through PB? It’s so annoying! I hope she managed to get sorted in the end.

novelty-socks

I'd press pause on the whole thing, tell them your offer still stands for the next 7 days, then after that you'll be walking away. And be willing to do so and take the hit. Don't play their games!

Diddydot

Thank you everyone. I have managed to get in touch with my mortgage advisor today and we are trying to pause our surveyors as we may be able to get our fees back! I agree we need to press pause on this. Thank you again.

Alfrescodave

Diddydot wrote: »

Okay so I’ve read a few threads and seen that this is common. We bid on a house through PB two weeks ago. For the past week I have been getting emails to say that the sellers were still accepting house views via email. We put it down to site issues. (We were foolish). In the two weeks since our bid was accepted we have had a mortgage agreed (paying fees) and paid for a survey. Today we get a call to say that the house has had another offer VERY similar to ours and that we have to give our best offer within 24 hours. We offered 1.5% below the asking price. Our offer is very reasonable. We sold our house with a local estate agent and when we accepted it was taken down from the market immediately. I assumed the same when our bid was accepted. I’m totally annoyed. I understand the buyer wanting to get the best price. But maybe when it starts to cost the other people money it’s rude. I just feel peeved. It’s being sold with PB so zero commission and no need to invent additional bidding. Even if we up our bid what’s to say this won’t happen again. I feel as if the seller has been unfair to us. We have spent money on this now and it’s pay more than we wanted or lose money. (We have already lost £2000 as our original property fell through). Whatever happened to a gentleman’s agreement!

I think you are confusing " buying a house" with "offer accepted". In both your cases your offer to buy a house was accepted AND you have accepted an offer to buy your house.

Houses are not bought or sold until contracts are exchanged.

sal_III

Out of a curiosity, what would you do if someone comes to you now, after you have accepted the offer on your place and offers you £10k more?

AnotherJoe

Diddydot wrote: »

Was your sister buying through PB? It’s so annoying! I hope she managed to get sorted in the end.

PB is an irrelevance here.

Its the seller who decides whether to take a higher offer. Not the EA. And for those who think EAs are always encouraging higher bids rather than just want an assured and simple sale to get their commission, PB have even less incentive to encourage a vendor to take a higher offer than a "traditional" EA.

Diddydot

Okay to clarify firstly, I understand that until the exchange of contact anything can happen. However, I am more annoyed that viewings have taken place after our bid was accepted especially as we have provided them with mortgage acceptance details and tried to arrange for surveyors. Secondly, we took our house off the market after accepting a bid and did not haggle or play games.

giraffe69

Did you ask/require the property to be removed from viewings when you offered?

SmashedAvacado

offer more now to clinch the deal, proceed with legals, think of reasons to reduce the offer back to where you were before (or perhaps even lower) when you are ready to exchange.