I have just had an offer accepted on a house.(the asking price)

Now I am worried that I may be Gazumped.

Does this sort of thing still go on or are there laws against it ?

 

Why are you worried about it?

laws against it in scotland I think but not in England/Wales.

 

Mate, in the last week, ive had 2 offers accepted on different propertys, both the vendors then changed there minds and pulled out
Its a real sh*ter if it happens, but my advice is not to get your hopes up too much just cos the offer has been accepted, i know its hard, but ive just learnt the hard way myself, twice

Just had another offer on a different house accepted today tho, its a cracker too so fingers crossed
Good luck tho mate

 

There's nothing to protect you from this but it isn't as common as you might think. Best advice I can give you is to make sure the chain is complete (i.e. the person you are buying from has found a house to buy, and so on up to the top of the chain - The estate agent should have done this already, if not make sure they do), and hold off on getting surveys and solicitors underway until the chain is complete. Most matters collapse because someone in the chain above can't find a house to buy.

Oh and use a good local solicitor not one of these conveyancing factories tied into the estate agent who are generally really slow and difficult to get hold of, it might seem like a good deal but you wouldn't trust your car with a cheap garage you've never heard of, so why don't trust the most important purchase of your life with someone you can't get hold of on the phone or pop in to see. Always best to go on a personal recommendation from someone you trust.

Good luck

 

Demand to meet the vendor. Introduce yourself as soemone who isnt going to like been messed around. Also stop been friendly /nice to the estate agents.

dont show any signs of been weak. You want that house and you wont stand for any funny games. Agenst dont want you to meet the seller , but I reccon things are a bit easier if you do.

 

meeting the sellers is a good thing, trying to intimidate them is not.

 

why not? if I am spending more than £250k I dont expect to be messed around. Once they accept thats it. I make it clear from the start .
I ask them if they are selling and are they accepting my offer. I dont drink coffee with them . Its business. I also make sure that the sillu bugger with the flash suit and That hair style knows I wont be palying games. Too many soft people around and they get walked over. How would you like it if you got pissed around over a deal? Its a 2 way thing. meet and shake . people tend to be more honest once they have met you. Estate agents are ajoke. If they sense any softness in you they will take you for a ride.

 

but I might agree to sell to you. Meet you think you're talking down to me. If you said "don't mess me about" I'd firstly think why are you assuming I'm going to mess you about? I want to sell my house. I'd assume therefore your already positioning yourself to pull out the moment anything crops up and things don't go your way. Your aggressive stance would make people defensive, I'd reply to your "don't mess me about" with the same, neither would budge on any sticking points and the sale would fall through after both parties have spent time and money on it.

 

How long do leaseholds take to go through? mines taken ages

 

depends on the details in lease. Other factors in the chain. Is your solicitor actively working on the case? So many things - how long is 'ages'?

 

never failed yet. Its not about been Agressive or talking down . Its about doing a deal where both parties are both aware of whats at stake.

Last time I bought a flat the seller met me and said that he would be happy to do a deal with me. The estate agent had warned him I keep things moving and dont like people who want me to pay more etc after a deal has been offered. we completed very quickly. Much better to put your cards on the table or you end up been messed about in a mad business.

 

true. Your second post read quite aggressive that's all. Personally I think it's good to meet sellers/buyers. A 2 minute conversation can resolve issues that estate agents/solicitors take weeks to solve.

 

Mattn

your right , it could be seen as a bit heavy. I think many people need to meet the seller/buyer etc. Its also a good way to ensure your estate agent isnt playing games. mates sister put her flat up for sale and found out th eestate agent wasnt trying to sel it or show it. he wanted her to accept a undervalue offer from a developer he knew. One my first deal I got them to guarantee they would pay all my costs if they pulled out etc. I dont get taken for a penny never .

 

Gazumping is great,i did it on my first house i bought 10 years ago and now have 7 let out,if i had not done it i may have never started buying them.I always make the agent and seller stop advertising when i agree to buy one.

Hope it does nt happen to you though as must be a right pisser for the other party.

 

3 months from sale
just under 2 months since draft contacts received

about 25 points raised 6 weeks ago with vendors solicitors about lease, council, land, etc. I understand this is the lonnng bit. Once satisfactory responses are received to these I get a contract to sign.

Depends on the management company of the flats and how slow they are I suppose.

 

Buy a house In Florida. its done in days maybe a week ! The system here in the uk is making a fortune for lazy solicitors. Again make sure both solicitors are up to the job. I walked away from one deal because their solicitor was palying games. they called me a week later and had taken on a new solicitor. the deal went well after this

 

Paul - how long is the chain? If it's just the 2 parties yes it's to long. Don't be affraid to ask your solicitior what the delay is, if it's something you can take up with the agent/seller to get things moving again.

 

I'm sorry Angels but to most people a house is an emotional attachment. You go in there with that attitude and you will potentialy upset people.

We lost a house the day before exchange/completion because the people we were buying from upset their vendor and they just turned round and said we are not going to sell our home to you. Chain collapsed, although our buyers and ourselves held on. Then our vendor asked for more money as prices had risen in the time that the chain had been together.

 

Mattw

I dont do "chains" much. to messy and problermatic.

You seem to think I have a attitude issue. Its not and I have expalained this .ITs about been in charge. I am the buyer and I take control. When you buy a car etc do you let the seller/salesman dictate to you etc?

I stay good friends with people I buy off. I keep it simple and clean. They (sellers) are having a hard time selling etc and dont need anymore problems. When I go to buy I am 100% ready . "Team ACM" is ready and will be onto the sellers "team" quickly id they start the usual "lets take ages to sort this out" lark.

If I bought a house from you you would be happy.

 

What exactly would you do if someone did "mess you around"?

 

If the sellers solicitors start acting up. I arrange to visit them with mine and the seller and discuss why they are been slow etc.

Remember A seller these days realy wants to sell quick and they will get upset if it can be proved they or their solicitors etc are messing around.

If the seller just wants to take the mick on completion day then I walk away and they owe me any fees I have paid. I never ever reduce my offer and expect them to honor mine.

 

So, nothing really then?

 

What did you expect my reply to be? a scene from" Reservior Dogs"?

 

The way you put it, yes.

I'm dissapointed now.

"Gazump me?" ==#!! POW !!#== "No knee caps"