I have seen a house that I like but is under offer. - HotUKDeals
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I have seen a house that I like but is under offer.

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Hi all, we looked at a house we really like. I went to look at it during the week by myself. As I liked it we arranged another viewing with my husband too. Well when we went back the new estate agent … Read More
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7y, 1m agoPosted 7 years, 1 month ago
Hi all, we looked at a house we really like. I went to look at it during the week by myself. As I liked it we arranged another viewing with my husband too. Well when we went back the new estate agent that showed us around said "oh you know the situation of this house? is under offer, but the sellers are still showing the house in case the first buyer pulls out (for any reason such as no mortgage etc...)" So because we like it we said that we want to put in an offer and keep us in mind in case the first seller pulls out. The estate agent said he will put our detail in the computer, but he actually hasn't asked us how much we are willing to offer. So you think this is just an attempt to get more money? Is there any chance we can get the house (if we offer more?)Thanks
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7y, 1m agoPosted 7 years, 1 month ago
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1 Like #1
You mean gazumping?
If you really want the house and are willing to offer more money, the seller can accept a higher offer up until contracts are exchanged (except if you are in Scotland - not legal there!).
banned 1 Like #2
dont gazump! Its a really low thing to do imho. Just stay on file as has been done.
1 Like #3
Put in your best offer and see what happens I guess!
2 Likes #4
All right guys thanks.....I think I will just wait and see... I don't want to guzzamp as I don't think is morally right. If the other buyer can't afford it for any reason then I will step in. If is meant to buy is meant to be! Let's see what destiny reserves for me :)
banned 1 Like #5
thought under offer meant that the people selling hadn't decided on whether to accept
#6
whatsThePoint
They usually say under offer when they want a better offer to come along
first person who offered might be in a chain so it could be under offer for months
If you don't offer someone else will


Ok... this seems strange to me as before I bought without a chain. I am in a chain myself as I will have to sell my house anyway. But I will put offer and see what happens.
#7
sassie
thought under offer meant that the people selling hadn't decided on whether to accept


Exactly - it's also a very well used ploy by Estate Agents to prompt other interested parties into action.
#8
Just put an offer in for the asking price if you really want it. if the other buyer has put in an offer for below asking then i don't see that has gazumping as you are only giving the seller what they want. Avoid a bidding war though i'm sure another suitable property will come along soon its still a buyers market out there.
banned#9
newbie1001;8717855
Just put an offer in for the asking price if you really want it. if the other buyer has put in an offer for below asking then i don't see that has gazumping as you are only giving the seller what they want. Avoid a bidding war though i'm sure another suitable property will come along soon its still a buyers market out there.

WTF! That is exactly what gazumping is :w00t:

Imagine you were purchasing a property and seller accepted your offer of £5K below asking and you paid for a survey and someone comes along and offers asking price when you are finalizing all your details and arranged a sale of your existing property.

Pretty sure you wouldnt think "oh thats fine"

and it certainly isnt a buyers market in Sussex. Prices are going up substantially and estate agents cant get any properties to sell! Its a sellers market here now.
banned#10
csiman
WTF! That is exactly what gazumping is :w00t:

Imagine you were purchasing a property and seller accepted your offer of £5K below asking and you paid for a survey and someone comes along and offers asking price when you are finalizing all your details and arranged a sale of your existing property.

Pretty sure you wouldnt think "oh thats fine"

and it certainly isnt a buyers market in Sussex. Price are going up substantially and estate agents cant get any properties to sell!


but doesnt uder offer mean the seller hasnt accepted
banned#11
sassie;8718505
but doesnt uder offer mean the seller hasnt accepted

Its a bit vague and this suggests the seller has accepted the existing offer to me:-

the sellers are still showing the house in case the first buyer pulls out

Personally, I would only make an offer on condition that the property be pulled from the market if accepted. The above suggests the seller accepted first offer but buyer forgot to enforce the condition
banned#12
sassie
but doesnt uder offer mean the seller hasnt accepted


No it means contracts haven't exchanged yet. Gazumping is bloody horrible had it myself we spent £1,500 on fees for this house after winning a bidding war only to then have her pull out on the day of signing. I could have done some serious damage to her face I've never felt so mad.

The estate agent said they would refuse to do business with her in future and as soon as a similar house came up they gave us the first viewing, before it had even gone on the market and recommended to the seller to sell to us.

The solicitors gave us £500 off the purchase fees of the next house as they were part of the same company.
banned#13
oh, i thought under offer meant it hadnt been accepted, a bit of a stupid term then, surely the seller cant show the house as for sale if they have accepted the offer
banned#14
sassie
oh, i thought under offer meant it hadnt been accepted, a bit of a stupid term then, surely the seller cant show the house as for sale if they have accepted the offer


In Scotland they can't, but here in the wild west of England they can do what the like to make peoples lives hell :x You're supposed to say to the seller "this offer is on condition you remove it from the market" to minimise any gazumping, if they don't you can pull out.
1 Like #15
scottish system is much better imo
2 Likes #16
csiman
WTF! That is exactly what gazumping is :w00t:

Imagine you were purchasing a property and seller accepted your offer of £5K below asking and you paid for a survey and someone comes along and offers asking price when you are finalizing all your details and arranged a sale of your existing property.

Pretty sure you wouldnt think "oh thats fine"

and it certainly isnt a buyers market in Sussex. Prices are going up substantially and estate agents cant get any properties to sell! Its a sellers market here now.


Well has a buyer i would make sure i put in conditions when the offer was accepted, this buyer has probably not done that and you do not know what the conditions of the offer are. In fact the seller might have stated that the offer would be accepted dependant on whether a superioir offer came in before completion. I love the double-standards on this site where people try and get whatever they can off companies due to errors but when an unknown buyer possibly makes an error it all tea and sympathy and you can't do that its not British. lol makes me laugh
1 Like #17
Only last week, we were nearly gazumped.

We had an offer accpeted, a week down the line the estate agent phones up and says that another couple who viewed before we offered, had put an improved offer in and they were legally bound to put the offer to the vendor.
They put the offer to the vendor, and the estate agent came back to us saying they were 'considering' the improved offer.

Obviously i was furious but there was nothing i could do.

Anyway, it was left overnight but luckily because our mortgage offer had been accepted and we were a few steps ahead, then they went with the morally correct option and stuck with us and our first offer.

It was an awful feeling knowing they were considering another offer when in your own head, the house is yours and all the plans are in place etc .....

So knowing how we felt only last week, then i wouldn't gazump anybody.
banned 1 Like #18
smithyp1

So knowing how we felt only last week, then i wouldn't gazump anybody.


Good on you mate, I know I couldn't do it to another couple. If I knew the other person was rent to buy though I wouldn't think twice :thumbsup:
banned#19
newbie1001;8718841
Well has a buyer i would make sure i put in conditions when the offer was accepted, this buyer has probably not done that and you do not know what the conditions of the offer are. In fact the seller might have stated that the offer would be accepted dependant on whether a superioir offer came in before completion. I love the double-standards on this site where people try and get whatever they can off companies due to errors but when an unknown buyer possibly makes an error it all tea and sympathy and you can't do that its not British. lol makes me laugh

LOL -Nobody would sell their house if they said that :w00t: :-D
#20
In the past when I put an offer they said they would take the house off the market when accepted. It's happened to me that the first sell didn't happen because we think we were guzamped (even though the agency said that the sellers sold the property to their daughter.....) Anyway thanks to you all, rep for everyone!
#21
csiman
Its a bit vague and this suggests the seller has accepted the existing offer to me:-

the sellers are still showing the house in case the first buyer pulls out

Personally, I would only make an offer on condition that the property be pulled from the market if accepted. The above suggests the seller accepted first offer but buyer forgot to enforce the condition


That is a good point actually..... Thanks
#22
if you offer and you have your house to sell she will probs leave it on market with your offer in as well incase someone whos ready to go comes along.

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