Offering for a house after another offer agreed....

lukekelly19

Hello,

Me and my partner have been looking for a house for a while. We had an offer accepted on a house (house 1) in March. However, the sellers are still looking for a place to buy so we've looked at a few alternative houses to give ourselves options in case they pull out.

We've seen one house that's a similar price (house 2) and better in some respects (extra bedroom, bigger garden). The old owners died and it's gone through probate, so presumably could be bought relatively quickly. 

We are thinking of putting in an offer. The problem is: it's being sold by the same estate agents as the house we've agreed to buy (in fact is in the same street).

So my question is: what do you think the consequences of making an offer on this house might be? I realise a 'memorandum of sale' has no legal standing. And that the sellers of the house, not the estate agents, decide who buy their house. However, I worry that if we bid and don't get house 2 (a distinct possibility), we will have upset the estate agent, who will tell the sellers of house 1 and who will be annoyed and pull out. I would be annoyed if someone agreed to buy my house and then pulled out in favour of another house in the same street.

Any advice much appreciated!

Redwino222

Be honest about what you are doing and why - before you do anything.   By all means act in your own best interests but don’t mess people around. 

I would expect the estate agent to tell the owners that you are viewing and bidding on other properties- they work for them not you and their loyalty will quite rightly reflect that.

Yes you risk the house going back on the market - but you won’t be able to keep this from them and best to be seen as open and honest.

dj1471

I doubt the agents would be too bothered - they’re still getting their commission.

Withdraw your original offer first, explaining that the vendors are being too slow, then offer on the other property.

eddddy

I wouldn't withdraw your offer on house 1 first - because you might not get your offer accepted on house 2.


Instead, explain to the EA that you're getting fed-up waiting for the sellers of house 1 - so you want to put in an offer for house 2, and if it's accepted, you'll withdraw your offer from house 1.


There's a slight risk that the EA might try to manipulate things - for example, try to persuade the sellers of house 2 not to accept your offer, so you stick with house 1. (For example, if there's a queue of people interested in house 2, but nobody else interested in house 1.)

Rosa_Damascena

lukekelly19 said:

Hello,

Me and my partner have been looking for a house for a while. We had an offer accepted on a house (house 1) in March. However, the sellers are still looking for a place to buy so we've looked at a few alternative houses to give ourselves options in case they pull out.

So we're looking at having been in the system for 12-16 weeks which is too much dilly-dallying. Have you have an exchange date in sight? If the vendors on House 1 won't commit at this stage I suggest you withdraw and make an offer on the other house, and why.

Presumably you've seen House 2 and that was through the agent? So your interest should not be a surprise to them.