Gazumping or not?

We’ve just been to view a house we really like today, which has already had an offer of £180k (not been accepted as it’s too low) the EA told us the buyers can’t go any higher on their offer either. We viewed and loved it and said beforehand when we discussed we’d offer £185k for it (£5k under asking price) which is obviously higher than the other offer. Would we be gazumping??? The vendors haven’t accepted the lower offer and have said to them if they can go to £185k they will accept but they cannot do this because they don’t have the funds to go any higher than their current offer. I don’t want to gazump anyone but since the offer isn’t accepted where would that (morally) leave us? Should we offer? Or just leave it and find somewhere else?

Replies

  • LittleNinjaLittleNinja Forumite
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    You're not gazumping anyone if the offer hasn't been accepted. 
    Put in your offer and don't feel guilty. It isn't your problem that the other people cannot afford to go higher. 
  • hazyjohazyjo Forumite
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    No, not gazumping. They've not accepted the other offer.

    What's your position? Hopefully you have a complete chain beneath you or are cash buyers or FTBs.
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  • onwards&upwardsonwards&upwards Forumite
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    Its only gazumping if another offer had been accepted.  What you're doing is just making an offer.  
  • EmiemigroEmiemigro Forumite
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    hazyjo said:
    No, not gazumping. They've not accepted the other offer.

    What's your position? Hopefully you have a complete chain beneath you or are cash buyers or FTBs.
    We are FTB. The house we are in is my mother in laws and our deposit is coming from the sale of the house. The buyers of our property are cash buyers so we are in a better position than the other people who have offered on the house we like.
  • hazyjohazyjo Forumite
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    Then offer away :)

    Just be careful to tell them although you're FTBs, it is dependent on a house sale. Hopefully the are literally cash buyers and not needing to sell their house to get the cash :)
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  • diggingdudediggingdude Forumite
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    even if it was gazumping, the guilt would really be on those accepting your offer rather than yourselves

    An answer isn't spam just because you don't like it......
  • RelievedSheffRelievedSheff Forumite
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    Not gazumping at all but you need to make it clear that to proceed you require the sale of another house. Although you may be first time buyers on paper your are not as proceedable as if you were not relying on the sale of another property.
  • steampoweredsteampowered Forumite
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    It's perfectly legitimate to make a better offer at this stage. It is expected that vendors will receive multiple offers and pick the best one!

    It only becomes "gazumping" once the vendor has accepted an offer, and the buyer incurred expenses such as instructing solicitors, having surveys done and so on. That hasn't happened yet.
  • blue_max_3blue_max_3 Forumite
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    It only becomes "gazumping" once the vendor has accepted an offer, and the buyer incurred expenses such as instructing solicitors, having surveys done and so on. That hasn't happened yet.
    My definition ends when an offer has been accepted. There is emotional damage, if not financial.
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