What should I do??

Looking for advice 2013

I'm going to keep this as short as I can, without giving too much detail away

There was a really nice bigger house for sale in our own estate....we put in a bid, then someone else put in a bid, etc... We didn't get it in the end. It was only ourselves and one other couple involved. They won fair and square but we were very disappointed. This was about three weeks ago.

We went out looking again then found this other lovely house about a week and a half ago. Went out to view earlier this week and love it. At the viewing the estate agent asked where are living currently...we said we are living x estate, to which he then said "oh, there was a couple here viewing this house recently who are in the process of buying one of the bigger houses in that x estate. They said that after seeing this house they don't know what to do"

There are no other bigger houses for sale in our estate, only the one that we just lost out on. This other house was only put up on the market in the last two weeks so this couple have gone sale agreed on the house we wanted but are still actively looking...I'm raging.

Knowing this I called the estate agent today for the house we originally wanted and said calmly and pretending I had no knowledge of what I learned "I know it's probably all done and dusted now but if it happens to fall through let me know, because we are actively looking". He said of course and said he would follow up with the buyer adding that they seemed to have slowed down in terms of movement....I was thinking "of course they have, they're out looking at other properties!!". The estate agent obviously doesn't know either.

So they way I see it, I have two options

1. Call the estate agent and say hey you know them boyos are out looking at other places...I am ready to offer now and will go through with it. The danger of this is a) I might spur on the buyers to make a quick decision with the house they already went sale agreed on or b) the estate may try to convince them to go with their original place because theirs was the higher bid and as such, he'll get more out of it
2. Not do anything and just hope the buyers decide not to go with the place that we want, and the estate agent calls me up informing me of such

Sorry for the long meandering post

Any advice how I should handle this (or do I have any other options??)

killers1

How you should handle it depends on which house you want to pursue? The first one you missed out on or the one you 'love'?

The small positive here for you is that at the moment there are 2 different houses and 2 sets of buyers so if you're lucky you'll end up with one each and shouldn't be too disappointed either way?

If its the first house you'd prefer then get back in touch with the original EA and ask them whether they had any luck in speeding along the other buyers or had their interest cooled. Ask whether they've had the valuation done for their bank. If not, just mention that the reason you're asking is that you were lead to believe they were recently viewing another property that they seem very keen on. Tell the original EA that you just want to be 100% sure to rule out that house and want to move on if the higher bidders have committed to proceeding by having the property surveyed and valued.

Calhoun

Money talks to be fair , if they can afford to pay more and have broader options all power to them .

The estate agent I would hope would be professional enough not to listen to hear say, it also is a fairly underhanded way to conduct business if you really wanted the house you could have upped your bid .

drunkmonkey

If either of them are detached try and buy it.
If there both semi-d's don't panic as there's going to be floods of them coming on the market and you should hold out for a bargain.
Don't panic buy because that's exactly what your about to do.
Not sure what the estate is like but make sure you don't buy something with paper walls that was fired up during the boom. There's a lot of **** boxes out there that prices still haven't hit bottom.

splashthecash

Calhoun wrote: »

Money talks to be fair , if they can afford to pay more and have broader options all power to them .

The estate agent I would hope would be professional enough not to listen to hear say, it also is a fairly underhanded way to conduct business if you really wanted the house you could have upped your bid .

Its funny that you think me simply asking what my options are in forum such as this is underhanded but a buyer going sale agreed on a house, then continuing their search and messing the seller around like that is not??

splashthecash

killers1 wrote: »

How you should handle it depends on which house you want to pursue? The first one you missed out on or the one you 'love'?

The small positive here for you is that at the moment there are 2 different houses and 2 sets of buyers so if you're lucky you'll end up with one each and shouldn't be too disappointed either way?

If its the first house you'd prefer then get back in touch with the original EA and ask them whether they had any luck in speeding along the other buyers or had their interest cooled. Ask whether they've had the valuation done for their bank. If not, just mention that the reason you're asking is that you were lead to believe they were recently viewing another property that they seem very keen on. Tell the original EA that you just want to be 100% sure to rule out that house and want to move on if the higher bidders have committed to proceeding by having the property surveyed and valued.

I understand your point about the two houses but its like we have to wait and see which house this couple want and we just get whatever they dont want..even though both are lovely. Sloppy seconds :-)

My fear about confronting the estate agent is that they bid more for the house than us so he will get more of a cut...he might try to persuade them to stick with what they have. But regardless of what people think here, I do feel they shouldnt be doing this

riclad

SO theres 2 good houses , you have a chance at getting one.
Keep an eye on both houses ,see what happens.
they are both lovely houses,
stay in touch with both estate agents.
And check the websites ,if they are advertised on the web.
AFTER a certain amount of time ,they,ll have to go forward ,
or cancel the purchase of the first house.

Ray Palmer

Nobody has bought a house until they have paid. I would recommend to keep looking even if you go sale agreed. Deals fall through all the time. Survey can list faults that can make people pull out.

The other couple are doing nothing wrong, they are acting very sensibly in fact.

Calhoun

splashthecash wrote: »

Its funny that you think me simply asking what my options are in forum such as this is underhanded but a buyer going sale agreed on a house, then continuing their search and messing the seller around like that is not??

My thoughts would be similar to Ray's.

Nobody has bought a house until they have paid. I would recommend to keep looking even if you go sale agreed. Deals fall through all the time. Survey can list faults that can make people pull out.

The other couple are doing nothing wrong, they are acting very sensibly in fact.

The tone of your post comes across that you are really annoyed at not getting the house and are thinking of passing on hearsay/unconfirmed information to turn things in your favor.

I think you should take a step back before deciding on what to do, your way to emotionally invested in this house that if it does come up the EA might just bid it up as your so interested. Your feelings shouldn't come into this, its a business deal and the only way to have done it better would have been to put more cash on the table.

Clive

One thing to consider OP, if you tell the second EA that the other couple are sale agreed on the first house, he will probably discreetly contact the other EA and find out what your highest bid was.