Help - Accepted offer!

edited 30 November -1 at 1:00AM in House Buying, Renting & Selling
6 replies 1.2K views
122 Posts
edited 30 November -1 at 1:00AM in House Buying, Renting & Selling

I think I have been a bit hasty in accepting an offer on my house - is there anything I can do without making myself too unpopular!!!

Last Monday I had a viewing on my property and the Estate Agent had indicated before the viewing that this person would be putting in an offer on the Tuesday. The man viewed the house and was indeed very keen. On the Tuesday I recieved a call to say that the man had a house to sell but had put it on the market straight away and would like to make an offer of interest of £112,000 which was below the offers over £115,000 asking price - I obviously said no and the man at the Estate said are you looking for nearer the £115,000 to which I said yes and then five minutes later I get a call saying you have the £115,000. I was slightly concerned at the time but as the man had not sold his house and I had another viewing arranged for the weekend I didn/t worry too much.

On the Thursday I recieved a call in work to say the man has sold his house and can I come into the Office so I can put my offer in on the house I wanted - Being caught off guard I went in and basically accepted the £115,000. On Saturday the second couple came around and loved the house - they called the Estate Agent to make an offer and were told it was basically sold and that they could make an offer - being a nice decent couple they didn/t want to "gazump" ! ( When I was told about this I did mention to the girl in the Estate Agents that I hadn/t really realised that I had accepted an offer on the Tuesday and she said she would call the second couple again..but that was the last I heard!)

However I now feel I have let my house go for less than I could have got as I would have had two interested parties at the weekend which would possibly have pushed the price up! I am a bit upset at how the first offer was dealt with - the man in the Estate Agents that I spoke to is new and I wonder if he thought my price was £115,000 and not offers over £1115,000 - and of course I am upset with myself for not saying on Thursday that I wanted to wait till the other viewing before accepting the offer.

Sorry this is such a long story..but is there anything I can do????

Thanks !


  • Looks like you got the amount you were asking for £115k ?

    You could reject the offer already on the table, in which case you would need to act sooner rather than later. I doubt the person who's offer you accepted will offer more due to the fact you already accepted his offer. So it would be upto someone else to make a higher offer
  • Until you exchange nothings legally binding.

    If you are regretting it now, I'd do something. Call the estate agents asap & explain you now want to leave house on market to see if you will get better offer.

    It may be unethical, but hopefully you could get an extra £5k or so...

    The worst that could happen is you lose that buyer - presumable this isn't a major concern to you at moment, if others seem interested in your house. If you can afford to wait and see, I'd do it.
  • Tojo_RalphTojo_Ralph Forumite
    8.4K Posts
    Take a leaf out of the, "nice decent couples" book, and let the original sale go through. You'll be a better person for doing so. :D
    The MSE Dictionary
    Loophole - A word used to entice people to read clearly written Terms and Conditions.
    Rip Off - Clearly written Terms and Conditions.
    Terms and Conditions - Otherwise known as a loophole or a rip off.
  • Edinburghlass_2Edinburghlass_2 Forumite
    32.7K Posts
    10,000 Posts Combo Breaker
    I don't quite understand your post when you say you didn't realise you had accepted the offer on the Tuesday, but then you say when you went in on the Thursday you basically accepted the £115,000?

    If the first offer on the table was £113,000, it could be that is all it is worth and if you decided to hold out for more what will it cost you time?
  • rizla01rizla01 Forumite
    7.2K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Firstly you should have had at LEAST two valuations on your property.

    Secondly. Offers above a certain price will always receive offers at that price to 'Test the water'. You should accept the offer subject to someone offering above that price.

    Having said that, buyers are easy to find if you have an exceptional property and it would appear that, unlike some areas in the UK you will have little difficulty in selling yours, even at a higher price, at a later date.

    Depends on whether or not you are likely to lose another property if you delay. If not take it off the market and re-advertise it with an agent that is prepared to work for you and not the buyer (And his quick commission on a speedy sale!!).

    It's you who will pay the 3% or so, so make them earn it.
    "Unhappiness is not knowing what we want, and killing ourselves to get it."
    Post Count: 4,111 Thanked 3,111 Times in 1,111 Posts (Actual figures as they once were))
    Women and cats will do as they please, and men and dogs should relax and get used to the idea.
  • something sounds a bit odd here. You are saying that the estate agent told you BEFORE the guy looked at it that you would be getting an offer from him the next day????
    It sounds to me as though this is a "friend/regular" of the estate agents. Did you get several valuations?? what did they come up as??
    how much are you hoping to get???

    Have you said "yes i accept that offer"
    why did other viewers come round to see the house if you had already accepted?? surely if an agent shows someone around, the property should not be "under offer" (although it can be)

    for an easy life, stick with the £115.
    if you think you can get more, and dont mind losing a sale and not getting more, visit the agents, explain to them you haven't accepted an offer, you just confirmed his credentials as a buyer, and get them to call the other viewers while you are in the office with him (to make sure they do it).

    might be an idea to go to sealed bids (I personally hate sealed bids and tend not to offer on them at all)

    My hunch is that this buyer is a regular with the agents. Thus your house is probably undervalued! The main point is to get several valuations (at least 3)
    Anything I write is based on my opinion only. Before acting upon any advice from anyone on a forum further professional advice should be sought.
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