Been Gazumped :(

[Jambala]

Hi just found this forum, need to vent frustration. We are first time buyers, in surrey where prices have gone crazy, got no chain, big deposit, ready to move. BUT We got gazumped a few days ago, gutted, shocked, and really annoyed. To give you a little background; after ALOT of searching, realising there is nothing out there, finally a property came back onto market, we rushed to see it in five mins, offered asking price straight away, were given impression they needed chain free buyer ASAP to fill broken chain made by previous buyer dropping out (he had been waiting few months and got fed up apparently), so spent all week in constant contact with estate agent, did second viewing, paid solicitor, arranged mortgage, arranged surveys, everything was sorted, then one week on got call from EA to say they needed 20k more to push up the chain and if we can't provide it they would re advertise. another five mins later called to inform us they had now found a buyer offering 20k more,can we match it? No? Nevermind, here look at this other house you may like, and then never heard from them again.

SO the explanation was that the seller buying privately on the same road, the person they are buying fom moving into a new build, and that builder has now demanded 20k more. So for some reason person at bottom of chain has to foot the bill???? Does this make sense? And straight away they found someone? And basically the fact we were chain free, ready to go, didn't matter at all? am totally gutted, house was perfect, unlikely to get anything like that in this area even for 500k and unfortunately no way we can push to 20k more plus 4% stamp duty. Feel cheated. :angry:

[macbeth79]

Do you want tea and sympathy, get right back in their and offer 25K more

[Jambala]

Do you want tea and sympathy, get right back in their and offer 25K more

Wish we could, we offered 10k more and didn't get a look in. It sucks that a first time buyer can't get anything even when chain free and willing to pay half a million pounds!!!!!! Just pass me the biscuits (sob)!

[19 year mortgage 8itch]

Wish we could, we offered 10k more and didn't get a look in. It sucks that a first time buyer can't get anything even when chain free and willing to pay half a million pounds!!!!!! Just pass me the biscuits (sob)!

You should look up sarcasm in the dictionary. He didn't mean it. If you're looking for sympathy you might be better off on mumsnet.

You win some, you lose some. Asking price isn't get me anywhere either. Them's the breaks.

[GinAndPlatonic]

and another....Awoogaaa

[Hechnical Titch]

Hi just found this forum, need to vent frustration. We are first time buyers, in surrey where prices have gone crazy, got no chain, big deposit, ready to move. BUT We got gazumped a few days ago, gutted, shocked, and really annoyed. To give you a little background; after ALOT of searching, realising there is nothing out there, finally a property came back onto market, we rushed to see it in five mins, offered asking price straight away, were given impression they needed chain free buyer ASAP to fill broken chain made by previous buyer dropping out (he had been waiting few months and got fed up apparently), so spent all week in constant contact with estate agent, did second viewing, paid solicitor, arranged mortgage, arranged surveys, everything was sorted, then one week on got call from EA to say they needed 20k more to push up the chain and if we can't provide it they would re advertise. another five mins later called to inform us they had now found a buyer offering 20k more,can we match it? No? Nevermind, here look at this other house you may like, and then never heard from them again.

SO the explanation was that the seller buying privately on the same road, the person they are buying fom moving into a new build, and that builder has now demanded 20k more. So for some reason person at bottom of chain has to foot the bill???? Does this make sense? And straight away they found someone? And basically the fact we were chain free, ready to go, didn't matter at all? am totally gutted, house was perfect, unlikely to get anything like that in this area even for 500k and unfortunately no way we can push to 20k more plus 4% stamp duty. Feel cheated. :angry:

We phoned up about viewing a house and were told "well the owner can squeeze you in at 11:00 but she wants an answer by 12:00 as it's VERY busy today".

We said "no thanks - we're not going to rush into making an offer like that". Later that day the house was 'sale agreed' on their website.

A month later the house was back on Rightmnove. We considered looking around, but have basically resigned ourselves to waiting for the HPC. Anyway it was sale agreed about a week later.

Well, what do you know - last week the house was back on Rightmove. Still not going to look round it though.

In total in our area there's been at least four houses we've seen where that's happened. The estate agent creates a buzz, has an open day, house goes for asking price or more, then it seems to fall through a few weeks later. They seem to eventually sell though.

Maybe you'll get your chance if and when this one falls through.

[TheCountOfNowhere]

I've just given my wife a good gazimping...she dressed up as an estate agent...cheap suit..hair gel...not washed for a week...the lot...then i gave her a right hard gazumping...she said she won't sit down for a week by could organise me a 120% mortgage at a decent rate...dirty girl...as i gazumped her rotten she told me lies after lies..the more she lied the harder i gazumped. her only complaint was...it left a bad taste in her mouth and when she collapsed...she was one sore c##t.

welcome estate agent type poster..your presence here says to us all....FEAR PANIC COLLAPSE.

Edited April 1, 2014 by TheCountOfNowhere

[renting til I die]

Hi just found this forum, need to vent frustration. We are first time buyers, in surrey where prices have gone crazy, got no chain, big deposit, ready to move. BUT We got gazumped a few days ago, gutted, shocked, and really annoyed. To give you a little background; after ALOT of searching, realising there is nothing out there, finally a property came back onto market, we rushed to see it in five mins, offered asking price straight away, were given impression they needed chain free buyer ASAP to fill broken chain made by previous buyer dropping out (he had been waiting few months and got fed up apparently), so spent all week in constant contact with estate agent, did second viewing, paid solicitor, arranged mortgage, arranged surveys, everything was sorted, then one week on got call from EA to say they needed 20k more to push up the chain and if we can't provide it they would re advertise. another five mins later called to inform us they had now found a buyer offering 20k more,can we match it? No? Nevermind, here look at this other house you may like, and then never heard from them again.

SO the explanation was that the seller buying privately on the same road, the person they are buying fom moving into a new build, and that builder has now demanded 20k more. So for some reason person at bottom of chain has to foot the bill???? Does this make sense? And straight away they found someone? And basically the fact we were chain free, ready to go, didn't matter at all? am totally gutted, house was perfect, unlikely to get anything like that in this area even for 500k and unfortunately no way we can push to 20k more plus 4% stamp duty. Feel cheated. :angry:

Sounds like you did everything right. Not many people go for second viewings, nowdays! I always did! How the hell you can afford 500k! I have no idea! What a crazy amount of money for somewhere to live! I could rent where I live for 43 year for that! Btw, I'm 38, so I could be dead before I paid that off and that's without interest on the loan!

Can't see that that is good value in anyway, shape or form, so the greedy git may have done you a favour! My advice, is to chill out and enjoy life! Sod buying an overpriced house. Its desperate FTB's like you, willing to pay whatever it takes to get on the property ladder (with the help of pushy EA's) that is helping to push up prices. I'm sure you would have happily paid whatever they wanted, if you could have got that extra 20k from the bank, safe in the knowledge that houses never lose value! So, maybe the bank did you a favour too!

[Jambala]

Sounds like you did everything right. Not many people go for second viewings, nowdays! I always did! How the hell you can afford 500k! I have no idea! What a crazy amount of money for somewhere to live! I could rent where I live for 43 year for that! Btw, I'm 38, so I could be dead before I paid that off and that's without interest on the loan!

Can't see that that is good value in anyway, shape or form, so the greedy git may have done you a favour! My advice, is to chill out and enjoy life! Sod buying an overpriced house. Its desperate FTB's like you, willing to pay whatever it takes to get on the property ladder (with the help of pushy EA's) that is helping to push up prices. I'm sure you would have happily paid whatever they wanted, if you could have got that extra 20k from the bank, safe in the knowledge that houses never lose value! So, maybe the bank did you a favour too!

Look I really don't know why every single person is so rude on this forum. There's no way we would have paid that much. We offered abit more because the house was defiantly worth it and significantly less than what houses are currently selling for in that road. Despite that was the very very max Of our budget. Trust me we tried to look elsewhere and the commute and other factors made us decide to compromise by paying more but staying in Surrey. It's not something we are thrilled about, the fact the average price of three bed is 400k. But there's also a limit to how long u can keep renting with children. But if greed is the name of the game, then I will stay put in my two bed. Forget buying an overpriced piece of rubbish, I can live without the stress. It seems that the only people able to purchase here are those playing dirty, and with loads of money to spare.

[Wurzel Of Highbridge]

It's not nice being gazumped, it happened to me over in Ireland about a year ago.

In hindsight I was lucky as I was laid off in December, then my wife was given notice that her rolling contract was going to end in March. This would have left us in an impossible position. Luckily as we were renting I has the pick of jobs both in Ireland and back in the UK.

We are still renting, the price we are paying we can continue renting for the next 25 years for the rent that we are paying. Luckily enough we are wealthy enough to be able rent [like most posters here] and do not need to rush into buying in an attempt to save a few hundred a month and possibly less if interest rates rise or repairs are needed.

[TheCountOfNowhere]

It's not nice being gazumped, it happened to me over in Ireland about a year ago.

In hindsight I was lucky as I was laid off in December, then my wife was given notice that her rolling contract was going to end in March. This would have left us in an impossible position. Luckily as we were renting I has the pick of jobs both in Ireland and back in the UK.

We are still renting, the price we are paying we can continue renting for the next 25 years for the rent that we are paying. Luckily enough we are wealthy enough to be able rent [like most posters here] and do not need to rush into buying in an attempt to save a few hundred a month and possibly less if interest rates rise or repairs are needed.

in hindsight you were lucky, so it was nice.

your statement makes no sense.

over paying for a house is a mugs game. paying more than asking means your are being rode hard by a 2nd hand house salesman. which means you are a mug. if your 20% below asking price offer isn't accepted, walk away, go home and gazump your wife.

[samtheman]

in hindsight you were lucky, so it was nice.

your statement makes no sense.

over paying for a house is a mugs game. paying more than asking means your are being rode hard by a 2nd hand house salesman. which means you are a mug. if your 20% below asking price offer isn't accepted, walk away, go home and gazump your wife.

Overpaying to give you the illusion that you are getting access to a chance at middle-class living and a good quality of life (when you only have to have travelled a bit to realise that it's simply not worth it and the so-called "standard of living" is pathetic). Don't be surprised if British children are among the unhappiest in the world.

[okaycuckoo]

Wish we could, we offered 10k more and didn't get a look in. It sucks that a first time buyer can't get anything even when chain free and willing to pay half a million pounds!!!!!! Just pass me the biscuits (sob)!

So you know they're demanding too much. Reflect on how this dishonesty came about, but try not to blame you parents before probate clears.

[Monkey]

I've just given my wife a good gazimping...she dressed up as an estate agent...cheap suit..hair gel...not washed for a week...the lot...then i gave her a right hard gazumping...she said she won't sit down for a week by could organise me a 120% mortgage at a decent rate...dirty girl...as i gazumped her rotten she told me lies after lies..the more she lied the harder i gazumped. her only complaint was...it left a bad taste in her mouth and when she collapsed...she was one sore c##t.

welcome estate agent type poster..your presence here says to us all....FEAR PANIC COLLAPSE.

You sir have just won 1 internets.

Best

Post

Ever

[macbeth79]

I've just given my wife a good gazimping...she dressed up as an estate agent...cheap suit..hair gel...not washed for a week...the lot...then i gave her a right hard gazumping...she said she won't sit down for a week by could organise me a 120% mortgage at a decent rate...dirty girl...as i gazumped her rotten she told me lies after lies..the more she lied the harder i gazumped. her only complaint was...it left a bad taste in her mouth and when she collapsed...she was one sore c##t.

welcome estate agent type poster..your presence here says to us all....FEAR PANIC COLLAPSE.

LOL, they should print this in Estate Agents Gazette

[norseraider]

Purely for humanitarian reasons, I do feel sorry for you, as this must have been a horrible, frustrating experience.

The housing market is the single biggest social issue facing the UK today. We are torn between a rental market which treats us like farm animals, and a property market which is so difficult and stressful, that it is tantamount to cruelty. As a result, our homes are no longer havens, but sources of anxiety and disappointment. A whole generation of people are either over-reaching to escape the horrors of renting, or are putting their lives on hold hoping that things will normalise. The strain on relationships, careers and families is intolerable and inhumane. And still the government looks on, leveraging every power of the state to prolong the bloodshed.

[macbeth79]

House prices will come down after the election, they are being pushed up as a feel good mechanism to win the next election.

The conservatives are doing so well i dont think that this needed.

[renting til I die]

Look I really don't know why every single person is so rude on this forum.

I don't think I was being rube, just saying it as it is. If that came across as rude then I'm sorry. I'm sure I am just as frustrated with the housing situation in the SE as you are. BTW welcome to HPC

There's no way we would have paid that much. We offered a bit more because the house was defiantly worth it and significantly less than what houses are currently selling for in that road. Despite that was the very very max Of our budget.

There was no way, wasn't this more a case of you couldn't because you were at the very max of your budget. Not trying to be nasty you understand, just trying to understand the mindset of a FTB.

Trust me we tried to look elsewhere and the commute and other factors made us decide to compromise by paying more but staying in Surrey. It's not something we are thrilled about, the fact the average price of three bed is 400k.

Yes, this is a problem. You have to be where you can work. Have you no options to change jobs or work in a different area doing the same work? What do you do?

Average price of 400k is just crazy!

But there's also a limit to how long u can keep renting with children.

Is there? Real question. There are some downsides to renting but apart from possible restrictions in making sure you are near a good school I don't see why the fact that you have children will put a limit on how long you can rent for? Can you explain?

But if greed is the name of the game, then I will stay put in my two bed. Forget buying an overpriced piece of rubbish, I can live without the stress. It seems that the only people able to purchase here are those playing dirty, and with loads of money to spare.

Yes greed and fear, the 2 emotions driving the market to new heights. My stress levels went way down after I decided I wasn't going to buy a house. You only rent what you need, you buy what you want. If you really need somewhere bigger could you not rent it? What rent are you paying now? What would the rent cost for somewhere bigger where you live? If we do some number crunching maybe we can see if buying really is the best choice or not.

Edit: Spelling, as always!

Edited April 3, 2014 by renting til I die

[renting til I die]

Purely for humanitarian reasons, I do feel sorry for you, as this must have been a horrible, frustrating experience.

The housing market is the single biggest social issue facing the UK today. We are torn between a rental market which treats us like farm animals, and a property market which is so difficult and stressful, that it is tantamount to cruelty. As a result, our homes are no longer havens, but sources of anxiety and disappointment. A whole generation of people are either over-reaching to escape the horrors of renting, or are putting their lives on hold hoping that things will normalise. The strain on relationships, careers and families is intolerable and inhumane. And still the government looks on, leveraging every power of the state to prolong the bloodshed.

+1