Gazumping...
20 February 2006, 06:55 PM
#1
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Gazumping...
Has anyone here ever "gazumped", or been on the recieving end of "gazumping" ?
What was the outcome, and would you do it again (ie gazump) For those that were on the recieving end I presume it is not a nice feeling
Did you get into a gazumping war
The point of this messgare is that I am considering gazzumping someone. Morally, I know it is wrong, but legally there isn't a problem - estate agents, by law, have to submit the highest offer to the property owner, no mater how far proceedings have got.
Thoughts ?
What was the outcome, and would you do it again (ie gazump) For those that were on the recieving end I presume it is not a nice feeling
Did you get into a gazumping war The point of this messgare is that I am considering gazzumping someone. Morally, I know it is wrong, but legally there isn't a problem - estate agents, by law, have to submit the highest offer to the property owner, no mater how far proceedings have got.
Thoughts ?
20 February 2006, 09:07 PM
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Originally Posted by davyboy
No one guzzumps anymore! Lots of properties, not enough buyers.
Another house will come along soon enough.
Another house will come along soon enough.
20 February 2006, 09:36 PM
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If you really want that property, you go for it.
It is a horrible feeling (thinking that you may sh1tting on someone), but if it's what you REALLY want, you have to do what's right for you.
Look at it this way - do you think they would be worried about it if the roles were reversed?
Possibly they might, but on the other hand they may be buying to let.........
I hate to say it, but think about number one (every ****** else does).
Good Luck.
It is a horrible feeling (thinking that you may sh1tting on someone), but if it's what you REALLY want, you have to do what's right for you.
Look at it this way - do you think they would be worried about it if the roles were reversed?
Possibly they might, but on the other hand they may be buying to let.........
I hate to say it, but think about number one (every ****** else does).
Good Luck.
20 February 2006, 09:42 PM
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You're right that it isn't a nice feeling (many years ago that my parents got gazzumped). Also likely to cost the original buyer significant wasted cash on solictor's fees, search fees, survey fees etc, quite apart from the potential it can b*gger up a lot of people from a potential chain etc. Personally, as I'm in the process of buying, I'll me more than a little p*ed off and a fair bit out of pocket if someone does such to me.
You might get a "gazzumping" war - and prices can go silly at this stage; I pulled out of one bidding war on one house (no sale agreed, so no gazzumping involved) for that reason. You might just make a real enemy, who has a fair idea where you'll be living
. However, as you said - at the moment, it is entirely legal.
Is the house really unique and you've got your heart set on it for that reason, or is it just a fairly "normal" house that meets your criteria and you've grown to like the idea of owning it? It's easy to get fixated on one property, and then a few weeks later to feel the same way about your next choice!
You might get a "gazzumping" war - and prices can go silly at this stage; I pulled out of one bidding war on one house (no sale agreed, so no gazzumping involved) for that reason. You might just make a real enemy, who has a fair idea where you'll be living
. However, as you said - at the moment, it is entirely legal.Is the house really unique and you've got your heart set on it for that reason, or is it just a fairly "normal" house that meets your criteria and you've grown to like the idea of owning it? It's easy to get fixated on one property, and then a few weeks later to feel the same way about your next choice!
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20 February 2006, 10:50 PM
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Originally Posted by Terzo 333
...but what if you're heart was set on this property
I wouldn't buy the house I had my heart set on even if I could. The next house we put an offer on, is much better.
20 February 2006, 10:55 PM
#9
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I would NEVER consider Gazumping anyone ...... it's not a nice thing to do - and I am a nice person!!
Oh, yes I am!!
Treat others in business how you would wish to be treated - it is ALSO the dream home of those that beat you to it .... live with the fact that you cannot have EVERYTHING you want when you want it!
And, as said above, sellers outnumber buyers at the moment!
Pete
Oh, yes I am!!
Treat others in business how you would wish to be treated - it is ALSO the dream home of those that beat you to it .... live with the fact that you cannot have EVERYTHING you want when you want it!
And, as said above, sellers outnumber buyers at the moment!
Pete
21 February 2006, 12:01 AM
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Originally Posted by pslewis
I would NEVER consider Gazumping anyone ...... it's not a nice thing to do - and I am a nice person!!
Oh, yes I am!!
Treat others in business how you would wish to be treated - it is ALSO the dream home of those that beat you to it .... live with the fact that you cannot have EVERYTHING you want when you want it!
And, as said above, sellers outnumber buyers at the moment!
Pete
Oh, yes I am!!
Treat others in business how you would wish to be treated - it is ALSO the dream home of those that beat you to it .... live with the fact that you cannot have EVERYTHING you want when you want it!
And, as said above, sellers outnumber buyers at the moment!
Pete
What he said, a bit of courtesy and manners go a long way
21 February 2006, 12:15 AM
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Originally Posted by pslewis
I would NEVER consider Gazumping anyone ...... it's not a nice thing to do - and I am a nice person!!
Oh, yes I am!!
Treat others in business how you would wish to be treated - it is ALSO the dream home of those that beat you to it .... live with the fact that you cannot have EVERYTHING you want when you want it!
And, as said above, sellers outnumber buyers at the moment!
Pete
Oh, yes I am!!
Treat others in business how you would wish to be treated - it is ALSO the dream home of those that beat you to it .... live with the fact that you cannot have EVERYTHING you want when you want it!
And, as said above, sellers outnumber buyers at the moment!
Pete
Originally Posted by R1916v
^^
What he said, a bit of courtesy and manners go a long way
What he said, a bit of courtesy and manners go a long way
21 February 2006, 12:59 AM
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If they were that worried about being gazzumped, they cuold have taken out insurance to cover the solicitors fees etc. If they didn't then that's their fault.
Go for it!
p.s. System is soooo much fairer in Scotland - once an offer has been accepted it is legally binding, so if the vendor accepts a higher offer they have to compensate the gazumpee.
Go for it!
p.s. System is soooo much fairer in Scotland - once an offer has been accepted it is legally binding, so if the vendor accepts a higher offer they have to compensate the gazumpee.
21 February 2006, 08:44 AM
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Gazumpings nothing..
what about being screwed by the estate agent as they wanted and bought the house you were after!!!
twice this happened to us,
one even had the ***** to tell us you would never get a mortgage on the property, as it needs underpinning....
and lo and behold, 8 weeks later who is moving in, the very same young lady, who told us all this tale of woe!!!
and again with another house, offers were in etc, yes they were, from the guy the other side of the table
Gazumpings not nice, but the estate agents dont help the situation at all!!
Mart
what about being screwed by the estate agent as they wanted and bought the house you were after!!!
twice this happened to us,
one even had the ***** to tell us you would never get a mortgage on the property, as it needs underpinning....
and lo and behold, 8 weeks later who is moving in, the very same young lady, who told us all this tale of woe!!!
and again with another house, offers were in etc, yes they were, from the guy the other side of the table
Gazumpings not nice, but the estate agents dont help the situation at all!!
Mart
