Gazumped & angry

Murphybear

We got gazumped once.  It’s not a nice feeling.  Shortly afterwards the EA phoned us and said it was back on the market and were we still interested.  The answer was a resounding “no”!  He couldn’t understand why.

We found a bungalow shortly afterwards.  It was in a tiny “dead end” village so no passing vehicles, beautiful gardens round 3 sides, 2 ponds, a large workshop, garden shed and small conservatory.  We made the EA an offer on the spot and the vendors, who were a lovely old couple who found the garden too much to manage, accepted it and invited us in for tea and cake.  We had a good wander round the garden and they told us all about the plants.  It was also short distant for work.

It’s my favourite property ever but we sold it as we were moving over 200 miles.  

Even the cat loved it and it was totally safe for her

BarelySentientAI

Martyn_H said:

Why is it there's no political will to outlaw gazumping? I guess most MPs are property owners.

Because a fundamental change to the way the entire process works needs a little bit more that "some people get grumpy about it sometimes".

And the cheap shot was unnecessary.

ThisIsWeird

The EA 'should' inform all subsequent potential buyers of any issue that could affect the value of the property. Not sure if lack of BC for an extension falls under this, but it certainly could if it has serious shortcomings. Even a retrospective completion cert process could be costly - exposing the founds, lintels, insulation levels, drainage.
I wonder if this EA will be upfront - now that they provably know about this issue?

Whether to report - that's your call. But no shame if you do - they are breaking the rules, and shouldn't get away with it.

Had a near identical situation to Murphybear 25+ years ago. Gazumped a couple of weeks after shaking hands on an offer with the seller who'd shown us around. EA called us up to tell us the news - we didn't blame them, 'cos they have to do their client's bidding. 
A short while afterwards we found a superior house in a superior location, and at a lower price, being sold by the family of the ol' man who'd lived there. We were 'vetted' by the neighbours over cups of coffee - it was in a 6-row 'terrace' built to look like a country pile, and on the outskirts of a village near Guildford, used in more than one movie. 
I recall my HoD giving me a lift home once when my banger needed a repair - his jaw hit his steering wheel when he pulled on to the sweeping oval gravel drive. 
Anyhoo, just after we'd had our offer accepted on this place, the ol' EA called us up to tell us the first house was back on the market, and if we were still interested...
I've told a few folk on here - chances are a better place will come along. Yes, I know you are in a difficult position as your house has nearly completed, but you just have to handle that in the most practical, unemotive, manner. 
If you need to, you also pull out or delay - you have a valid reason. If you can, consider renting - you'll then be a cash buyer.
Sit back, make a cuppa, cuss loudly, report if you feel like it, and then move on to your better home.
One day you'll laugh. Probably ..

fluffymuffy

Thanks for these encouraging replies. We're still desperately looking for somewhere else.

Martyn_H

BarelySentientAI said:

Martyn_H said:

Why is it there's no political will to outlaw gazumping? I guess most MPs are property owners.

Because a fundamental change to the way the entire process works needs a little bit more that "some people get grumpy about it sometimes".

And the cheap shot was unnecessary.

The "cheap shot" is very likely true and doesn't single out a particular party. 🙄

BarelySentientAI

Martyn_H said:

BarelySentientAI said:

Martyn_H said:

Why is it there's no political will to outlaw gazumping? I guess most MPs are property owners.

Because a fundamental change to the way the entire process works needs a little bit more that "some people get grumpy about it sometimes".

And the cheap shot was unnecessary.

The "cheap shot" is very likely true and doesn't single out a particular party. 🙄

Did I say it was incorrect or focussed on one party?

Still a cheap and unnecessary comment.

Martyn_H

BarelySentientAI said:

Martyn_H said:

BarelySentientAI said:

Martyn_H said:

Why is it there's no political will to outlaw gazumping? I guess most MPs are property owners.

Because a fundamental change to the way the entire process works needs a little bit more that "some people get grumpy about it sometimes".

And the cheap shot was unnecessary.

The "cheap shot" is very likely true and doesn't single out a particular party. 🙄

Did I say it was incorrect or focussed on one party?

Still a cheap and unnecessary comment.

I didn't accuse you of that, as you well know. Ignored. End of.

fluffymuffy

Murphybear said:

We got gazumped once.  It’s not a nice feeling.  Shortly afterwards the EA phoned us and said it was back on the market and were we still interested.  The answer was a resounding “no”!  He couldn’t understand why.

This has now happened to us also. The house we were buying is now back on the market. The EA called to ask if we were interested. Meanwhile we found a better house. Even if we hadn't, I wouldn't trust them not to do this again.

RHemmings

fluffymuffy said:

Murphybear said:

We got gazumped once.  It’s not a nice feeling.  Shortly afterwards the EA phoned us and said it was back on the market and were we still interested.  The answer was a resounding “no”!  He couldn’t understand why.

This has now happened to us also. The house we were buying is now back on the market. The EA called to ask if we were interested. Meanwhile we found a better house. Even if we hadn't, I wouldn't trust them not to do this again.

Well done you for standing your ground and finding a better option. 

I've heard that sometimes it happens that a buyer who wants a house will gazump, do a survey, and then use the inevitable nitpicks in the survey to reduce their offer. Sometimes to less than the previously agreed price. I.e. the gazumper never had the intention to pay the increased offer. 

TractorFactor

I wonder if there is a "consquential loss" element to price negotiation if the person who was gazumped is still interested.
If the seller wants to crawl back to the original buyer, there will be a cost to do so.