Offer accepted on house, paid all fee's etc, now the seller wants it back on the market for higher

rachael1105

*Continued* Offers.

We have got the mortgage agreed, survey done and paid the solicitor fees, came to an agreed price after the survey came back and now they have said they want it back on the market in case it falls through and they have buyers numbers? Even though we have no intention of pulling out and gave them no reason for this. 

We said is this not gazumping, but they have assured the estate agents this is not their intention. I am aware people can still make offers once it is SOLD STC, but now the SOLD STC is gone from rightmove and their website. Is this allowed?

We have also realised that our solicitors are now waiting on their solicitor for their information. We are first time buyers and this is a property that was left to a few siblings so no onwards chain. We feel we are being strung along until a new offer is made and if this is true is this allowed? 

Thanks

user1977

What wouldn't "allow" it? You're not yet in a contract.

Ath_Wat

That's very odd and unusual.  Who would want to view a house just in case the current sale falls through?  Any viewers are almost certain to try and gazump you if they think it is worth it.
Having "Sold STC" on the website is meaningless, except in as much as it would deter viewers - many people filter such properties out.

You probably are being strung along in the hope of higher offers.  However there is not much you can do except refuse to proceed under these circumstances and see if that changes their minds.

Woolsery

rachael1105 said:

 We are first time buyers and this is a property that was left to a few siblings

....At least one of whom is probably now saying it was sold too cheaply. This happens with multi-sibling probate and divorcing couples' properties.

They may be stringing you along, so do the same by looking at anything new to you that takes your fancy. If the sale proceeds, well and good. If not, at least you are further along in finding alternatives.,

UnderOffer

Is it a probate property and has it been granted? Sounds like the siblings want more money perhaps and if probate not yet granted (and this can take several months) they could be hoping for more interest from prospective viewers and higher offers? 

hazyjo

So they want their cake and eat it. I suppose you have a few choices:

1. Tolerate it and hope nobody else offers
2. Walk
3. Tell them fine, but you will also continue to check the market and pull out if something better comes along
4. Tell them no. If you threaten to walk, you have to mean it

What we'd do is largely irrelevant. How much do you love it? How long were you looking? What's the market like?

YoungBlueEyes

Are there other properties out there that would suit you? If so, I would do this - 

Tell the EA that you'll leave your offer on the table, but that you'll continue to look at other houses, and that your offer is only valid for the next however many days. Put the pressure on the siblings to accept your offer. Seems like there's a sibling that wants more, so the other siblings could make them accept your offer and start playing nice.

Spendless

20+ years ago similar happened to us with the house we now live in. Our offer was accepted, then a while later we were told that other people had gone to view the house by someone we knew that lived next door. DH rang the EA, who said words to the effect of they were perfectly entitled to do so. DH's reply was ok, we'll continue to view other properties then though this house is our preference. Within 24 hours we got the message that they wished to proceed with us.   , 

lookstraightahead

Two issues I think - one is possibly sibling disagreement, the other is that they don't realise how the market is changing. Both are to do with greed.

Nothing you can do - either party can pull out like this. 

You could threaten to pull out but I reckon ego will stop one of the siblings caring about that. But I wouldn't be messed around like this and would say I'm looking elsewhere.

is it an old house? Did you have a level 3 survey and does the property need work?

trakky14

I've seen houses advertised online for sale which are at a similar stage...whenever I've spoken to the estate agent about them it sets alarms bells off for me about the vendors and we've always walked away. I'm sure nobody else will want to touch it with a barge pole when they hear the house is already sold sstc and the vendors want it kept online! 

Voyager2002

Yes, the law allows them to do this.

So, some questions. Did you agree the sale price a long time ago (perhaps before probate was granted)? Over the last few months prices have been shooting up, and so your agreed price may no longer reflect the current market value of the property. Most people would be tempted to break a promise if they thought they were about to sell a house for many thousands less than it was worth. And a related question: do you think the agreed price is still reasonable in the current market? In other words, would you need to pay more to buy a house that you like just as much at current prices?

I suggest that you start viewing other properties and emotionally distance yourself from this purchase. Make it clear to the vendor that this is what you are doing, perhaps by asking the EA to arrange some viewings of other properties that they are marketing. Other than that, allow the EA to put pressure on the vendors to complete the sale while you explore your options.