Just got gazumped :(

Carl2510

If the new buyer pulls out and they come back to you I think you’ll be putting in a lower offer just to say I told you so...

Jeepers_Creepers

14sprocket said:

pjcox2005 said:

I'd walk away, although you could increase the offer and then make no attempts to do mortgage, surveys etc, waste a few weeks before pulling out 

That will be cheeky!
I don't want to level with the sellers though - not being a religious person, I still believe in "what goes around" etc. Don't want to burn bridges with the agent either, as they may still come through with some other property...

Well done.

Hellish situation, hugely unethical, but there's now't you can do about it.

I, too, assumed that going to 'final bids' would mean just that, but from what folk say, it doesn't. But, it seemingly isn't the EA's fault - it's a slimeball seller.

Chin up, head held high, move on.

I'm only on my third property in my life, but on two of the previous purchasing occasions the houses we'd set our hearts on fell through - once with a gazump (the other possibly too - can't quite remember...).

But better - far better - places always came along. So good luck.

Davesnave

According to you, you were gazumped.

According to the other potential purchaser, they realised just how much they wanted the property when they saw it slipping from their grasp.

According to the owner, they nearly sold their property too cheaply.

And you're all correct!

Thrugelmir

14sprocket said:

Thrugelmir said:

14sprocket said:

Not sure if people have any suggestions or recommendations how to deal with this

Have a go at the EA to vent your frustration. Then continue to search bad mouthing the agents in the process. 

The agent is sympathetic to our situation, but I'm not sure if there's much they can do really... Don't want to badmouth them for no reason either

Seems as they advised the vendor badly in opting to go for final sealed bids. Rather than allowing a natural auction. Asking you if you want to bid again is an insult. Where does it stop? 

NameUnavailable

I viewed a house that had so much interest they went to 'best and final' offers. I made an offer based on what I thought the property was worth to me and within what I could afford, knowing also that others were also offering so it was IMHO a very fair offer.

I had a call from the agent after the deadline had passed to say that my offer wasn't accepted but wasn't rejected either and the sellers were asking the nearest bidders to put in a final best and final offer! I could see where this was going so declined to to offer any more. Someone else got the property but I wasn't prepared to deal with greedy people.

tealady

If the house you loved is in a particular area have you thought of leaflet ing people directly.
Someone might be thinking of selling and it would save them e.a fees.

14sprocket

Thrugelmir said:

14sprocket said:

Thrugelmir said:

14sprocket said:

Not sure if people have any suggestions or recommendations how to deal with this

Have a go at the EA to vent your frustration. Then continue to search bad mouthing the agents in the process. 

The agent is sympathetic to our situation, but I'm not sure if there's much they can do really... Don't want to badmouth them for no reason either

Seems as they advised the vendor badly in opting to go for final sealed bids. Rather than allowing a natural auction. Asking you if you want to bid again is an insult. Where does it stop? 

The "best and final" sealed bid process is apparently meant to prevent gazumping - put your best price forward, and you have either won it or not. It's just some people aren't playing by the rules, probably thinking of themselves as smart and resourceful. You'd thought the universe has a way of calling out such behavior and punishing for greediness

14sprocket

tealady said:

If the house you loved is in a particular area have you thought of leaflet ing people directly.
Someone might be thinking of selling and it would save them e.a fees.

I think the lockdown rules aren't exactly positioned well for going door to door with leafleting? Some people in our area are paranoid about this and have been calling police on people they suspect of breaching the rules

Davesnave

14sprocket said:

tealady said:

If the house you loved is in a particular area have you thought of leaflet ing people directly.
Someone might be thinking of selling and it would save them e.a fees.

I think the lockdown rules aren't exactly positioned well for going door to door with leafleting? Some people in our area are paranoid about this and have been calling police on people they suspect of breaching the rules

My postman seems to manage it. Perhaps he should be arrested for the obscene publication I found in the post box yesterday, otherwise known as the Ang**n window and conservatory flyer.  For goodness sake, take back control.....where have I heard that before???

All the prosecutions so far brought under the emergency coronavirus legislation have been thrown out of court. Quite right too. Can you imagine where some of those were heading?

Mahsroh

14sprocket said:

tealady said:

If the house you loved is in a particular area have you thought of leaflet ing people directly.
Someone might be thinking of selling and it would save them e.a fees.

I think the lockdown rules aren't exactly positioned well for going door to door with leafleting? Some people in our area are paranoid about this and have been calling police on people they suspect of breaching the rules

In 3 and half weeks the "stay and home" guidance is lifted. Yes, there are still restrictions but "lockdown" in the true sense of the word starts to relax. Seems like a world away but in the scheme of buying a house 3 and a half weeks is no time at all.