We have "nearly" bought two properties in the location where we really want to retire to - and have been let down/disappointed on each occasion.   Well, ten days ago, I thought we had found the ideal one, we put in an offer, and it was formally accepted.   So we instructed our solicitor, have been speaking to builders/planners, instructed a surveyor .... and now we've just had a phone call to say that someone else has offered above our offer :rolleyes:

Now I know that we could offer above them - its well within our price - but I'm not going to as a matter of principle!    What's to stop the vendor upping the ante again?     I cannot believe that only ten days ago we were sitting in the agents office saying how glad we were that gazumpiing was a thing of the past.

I feel very downhearted - we really want to move to this area - but there is nothing else on the market at the moment that we are remotely interested in ........:(

Margot

Margot - how annoying, frustrating ......... ( :( :( That's so sad for you :( Grrrr :( :( It just shouldn't happen when an offer has been accepted :( :( Some people have no principles :( :( You must be so mad :(

Daisy

That's so annoying.  I have been reading stuff recently about gazumping returning though :rolleyes:
At least you had not forked out for a survey.  My friend, a single parent, paid £600 odd for a survey only for it to transpire that the woman was not really selling!  She had put the house on the market to "see what it was worth" and did not like to say until things had gone much further than she had thought they would :rolleyes:  Not exactly gazumping but still as unethical.  However, on an unusual plus ;) for the agents they gave her gip and suggested she pay for the survey.  She paid half which was a result of sorts.

Sorry to hear that your plans have been dashed for the time being - maybe those people with the higher offer will let them down and then they will regret doing that!  My neighbour has been packed up ready to go and all forms signed for exchange - they have been let down last minute by someone lower down the chain who now reveals that they haven't even got a mortgage offer.  They have dropped out and found another house to make an offer on (they were using delaying tactics and were given an ultimatum) so now they can mess another group of people around.  So unfair.   We are sitting with our house on the market again and in 6 weeks we haven't even had one viewing.  We are not going anywhere soon!

Sorry to hear this Margot :-(

Keep your chin up :-)

Moving is a pain Margot and the market is fluid at the moment.  You need to offer as much as you think a property is worth (within your budget of course ;) ) at the moment.  In my area well priced properties are selling overnight whilst overpriced ones (or properties with problems) are sticking.

If this house is really what you want, then I would go back with your best offer because any property is only worth what a buyer is prepared to pay. :)  And when you make an offer, make it subject to the property being removed from the market. :)

Sorry the move isn't going to plan Margot. Not sure if this will make you feel better, but we spent one year trying to move from my father's home to our own - we put offers on 5 houses, and each time after a while things fell through. It was a terrible time, so upsetting as we just felt something was against us.

When we did successfully move, even our solicitor sent us a card and said she'd never known anyone to have such bad luck

Keeping fingers crossed,

Lindsay
x

This property had been on the market since early spring at a higher price - and I would not view it then, as I felt it was overpriced, bearingin mind the fact that it needs to be completely revamped - rewiring, new bathroom, new kitchen, new heating etc.   Having done this once, I know only too well that its not just the cost of doing this work to be taken into consideration - its what you find when you start to do this sort of work (lathe & plaster ceilings collapsing, etc).   Once we offered - and had been accepted - the property was taken off the market - but the people who put in the higher offer had, apparently, viewed it earlier (at the higher price).   The agents are legally bound to put every offer forward  and as the sellers are selling on behalf of their aged father, they felt they had to get the best price possible :(

But I am going to claim my solicitors' expenses if searches have already been instigated - they can b****y pay for those!

Margot

Mmm, that's always a risk when you offer low but nothing's been done that's not completely above board.  The new purchaser obviously think it's worth more and are prepared to pay.  Doesn't help when you're the looser though, does it? :(    I don't think that you'll find that they're obliged to pay your search costs (not usually very much) but they may do if they have a conscience as I gesture of good will.
My conveyancer offers me an insurance for £30+ to cover any expenses in the case of failed purchases and sales.  Whilst I'm not an insurance fan, I've found this to be a good investment and may be worth asking your solicitor about.  I completed the sales of 2 properties in the last month.  One went through with no problems and the other completed at the second attempt!
I hope that something better comes up for you. :)

>My conveyancer offers me an insurance for £30+ to cover any expenses in the case of failed purchases and sales.

That's interesting, Val.  Does it just cover the legal expences or does it cover survey fees and if it does is is the full range of surveys?

It just covers the conveyancer's expenses not surveys.  I usually buy without surveys though, including a 160 year old flat!  I find that they rarely pick up anything that you can't spot yourself, or if you have a full structural survey done, to earn their money they pick up tiny things and when you look at the list, you're frightened witless! :(  I do have a tame local Estate Agent though who has good local knowledge, which helps. :)

Oh Margot I am so sorry to hear this!  How frustrating for, I personally am dreading selling this but as soon as Hannah has gone it will be sold as I am going to downsize;  chin up you never know what is around the corner, I would try my hardest too to recoup any money spent as lots of people don't and we should x

Doh! Happened to us once, OH said crossly, No way we are getting involved in a 'dutch aution'. I hadn't heard that expression before, however principles ruled us here too. This was probably 15 or more years ago, and still we are in the same house! I have no regrets but am still open to something if the right thing comes along.
Karen ;-)

Don't blame you refusing to offer more!

After all that's what forced prices up to extortionate levels in the first place - greedy estate agents! 

> After all that's what forced prices up to extortionate levels in the first place - greedy estate agents! 

Oooh !! I think that there might just be one or two other little factors :D :D :D

Daisy

Oooh !! I think that there might just be one or two other little factors  

;)  I wouldn't be too happy if my Estate Agent tried sold my house for £10,000 less than the house up the road 'to try and keep house prices down'! :D

Bet you wouldn't be happy to find he was playing you off against another 'buyer', who may or may not exist,  just so that he could increase his commission either ;)

Saw a series (panorama type) about estate agents doing just that - it was a complete eye opener!

There's also an estate agent local to us who have very dodgy dealings ;)

Which is why it's important to deal with Estate Agents who are members of NAEA or similar.  A bit like buying a puppy from a reputable breeder. :D  If  you buy through agents who aren't, then it's like buying from a puppy farm.

> If  you buy through agents who aren't, then it's like buying from a puppy farm

LOL :D :D :D  Believe me, I'm no fan of estate agents :D :D :D

Daisy

Well after talking it over with BIL and brother - both of whom have bought & sold a damn sight more property than us (only 2 houses in 44 years ;) ) we have actually offered the full "reduced" price - which we were prepared to go up to.   We've made it perfectly clear that we do not intend to go any further - and any sealed bid ideas etc are completely out of the picture!

The agent has told us he will put our price before the vendors ....which would appear to say that we may have offered more than the other people, according to Bro & BIL.   So it may still be ours!    We could still do what we want to it, and have a good home still within our budget !

So - here's hoping - and as my sister reminded me what I'm always telling her "if it is for you, it won't go by you!"   

Don't expect to hear anything until tomorrow now - AND I have to go to have my blood pressure checked tomorrow am!!

Margot

Fingers crossed, Margot :D :D :D

Have you bought your own little blood pressure machine ?? A colleague of mine has been told by his doctor for the last year that he has high blood pressure - been through all sorts of blood tests, ECGs etc. He has now proved to his doctor that he has 'white coat' syndrome - BP fairly normal at home - sky high when he goes to the doctors :D :D :D

Daisy

In the same way that it's confusing for a family to find a well bred puppy every 15 or so years, buying and selling houses is equally confusing if you don't do it on a regular basis, which is why it's important to use a good Estate Agent. 
My neighbour, who has only ever bought one property and lived in it for the past 25 years, has found a property that he wants to buy before putting his on the market.  He's offered the full asking price (IMO too much anyway!) and offered the vendor £1000 per month for 3 months to take it off the market while he tries to sell his!  The same Agent has over-valued his property too.  I only managed to say "That's not the usual way of doing things!" before being told that he's going to tell them this and that! :( 
I shall watch the outcome with interest.

> He's offered the full asking price (IMO too much anyway!) and offered the vendor £1000 per month for 3 months to take it off the market while he tries to sell his

Different :D :D :D Reminds me of people who start packing and book the removal van before exchanging contracts :) :)

Daisy

I think that's very wise Margot.  Well done.  If that's what it's worth to you, that's the right thing to do.  If it doesn't happen, then there's something better waiting for you. :)

How disappointing. I hope the new offer is accepted and they act honorably. Fingers and paws crossed for you.

Keeping everything crossed for you Margot, it's hard enough finding the right place for sale without all the other complications that can arise.

How's your blood pressure Margot?? :)

Actually, its better than its been for the last three weeks :rolleyes:   Down to 142/76 .....if it had remained high, I was going to have to go on medication - which I would prefer to do without ....looks like meditation/exercise might just be working :D :D :D

Still don't know about the bungalow....we are going to look at another one tomorrow - through another agent .....will drop in on t'other one whilst on the Island.

What will be, will be :)

Margot

>looks like meditation/exercise might just be working<

((( :) )))
Glad to hear it! *whispers* Not forgetting a little emergency use only special Margot dust! ;)
Here's hoping the house front will come good.... everything crossed here for you.