I got gazumped but is sale back on?

stevenb97

I put an offer on a house 10 days ago and within an hour of it being accepted, another buyer who the EA said didn't even seem interested in the house (viewed it over a week ago before putting an offer on, never gave EA feedback when asked) had gazumped me. I rang the EA today just to see if they had anything else coming on to the market and they said the sale on the house I previously offered on had hit a few stumbling blocks and they would be finding out more today (didn't tell me what the stumbling block was) and if it fell through they would ring me. 10 days after putting the offer in what could possibly be the problem and how likely do you think it would be that the sale would fall through?

hippocrates1

Takes more than ten days to get a mortgage accepted at the moment 

rainbow_fountains

10 days seems a bit early for anything to have happened tbh, would be very shady for the EA to lie though. Guess you’ll just have to wait for them to call you back?

MovingForwards

Would you feel relaxed if that sale fell through, your offer was then re-accepted, knowing the seller has previously accepted your offer and then accepted a higher one?

stevenb97

MovingForwards said:

Would you feel relaxed if that sale fell through, your offer was then re-accepted, knowing the seller has previously accepted your offer and then accepted a higher one?

How do you mean?

Tsj90s

Not sure if I could be right, but going off my own experience buying at the moment could be they had trouble providing proof of funds, a credit check could have thrown something into the mix, a sale on their own property (if they are selling) could have fallen through... maybe best not to get your hopes up though 

stevenb97

Tsj90s said:

Not sure if I could be right, but going off my own experience buying at the moment could be they had trouble providing proof of funds, a credit check could have thrown something into the mix, a sale on their own property (if they are selling) could have fallen through... maybe best not to get your hopes up though 

I don’t plan on getting my hopes up, knowing my luck they’d only come crashing down! Lol. The EA said they were a FTB so the only thing I could think it may have been this early was financial but I wasn’t sure

Tsj90s

stevenb97 said:

Tsj90s said:

Not sure if I could be right, but going off my own experience buying at the moment could be they had trouble providing proof of funds, a credit check could have thrown something into the mix, a sale on their own property (if they are selling) could have fallen through... maybe best not to get your hopes up though 

I don’t plan on getting my hopes up, knowing my luck they’d only come crashing down! Lol. The EA said they were a FTB so the only thing I could think it may have been this early was financial but I wasn’t sure

Oh tell me about it, I know the feeling. I'm never buying a house again!! I know my mortgage valuation was done really quick, within days of my mortgage application, maybe it was under valued by the lender and they cant stump the extra funds. My broker applied for my mortgage the day the offer was accepted in December and I had a decision in less than 10 days, it could well be they couldnt get a mortgage 

greatcrested

I got gazumped but is sale back on?

Yes.

stevenb97

Tsj90s said:

stevenb97 said:

Tsj90s said:

Not sure if I could be right, but going off my own experience buying at the moment could be they had trouble providing proof of funds, a credit check could have thrown something into the mix, a sale on their own property (if they are selling) could have fallen through... maybe best not to get your hopes up though 

I don’t plan on getting my hopes up, knowing my luck they’d only come crashing down! Lol. The EA said they were a FTB so the only thing I could think it may have been this early was financial but I wasn’t sure

Oh tell me about it, I know the feeling. I'm never buying a house again!! I know my mortgage valuation was done really quick, within days of my mortgage application, maybe it was under valued by the lender and they cant stump the extra funds. My broker applied for my mortgage the day the offer was accepted in December and I had a decision in less than 10 days, it could well be they couldnt get a mortgage 

My final bid was the asking price so they must have offered over asking price so it looks like they might have offered too much and can’t get the mortgage then.

MovingForwards

stevenb97 said:

MovingForwards said:

Would you feel relaxed if that sale fell through, your offer was then re-accepted, knowing the seller has previously accepted your offer and then accepted a higher one?

How do you mean?

You offered on property, the offer was accepted, but an hour later told they had then accepted someone else's offer.

If that sale falls through, your offer gets accepted again, would you feel comfortable going through the purchase knowing what the seller did before?