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If your offer on the house is already been accepted and you have agreed as well, can the owner or estate agents still accept another offer on the same

My offer on a house was accepted and I was in the process of conveyancing, but the estate agents told me that someone else has put an another bigger offer and owner has accepted that, so I can no longer buy that house, is it legal to accept another offer after you already have accepted one?

Asked on Sep 15 2010, General in Petersfield | Report content

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  • In the UK, yes it is legal. Unfortunately we don't use the same system that Scotland uses where once an offer has been accepted, it is legally binding. Those with low morals will gazump and gazunder until it is made illegal. It frustrates many people.

    Answered on Sep 15 2010, Report content
  • As per the previous answer, yes. The estate agent has to pass on all offers to his vendor. It is the estate agent that normally gets blamed but it is the public that often create the problem. This is because you (customer a) has an offer accepted. Customer b rings and says he is interested and wants to offer. The estate agent explains it is being bought by customer a but customer b is undeterred and asks to have his offer put forward. The owner accepts and the agent is left in the awkward position of calling you. What should have happened is you that you were given the chance to consider increasing your offer. You could still do that now but unless you think it was a particularly special house, I would take my money elsewhere. Next time, have your mortgage forms submitted the day your offer is accepted and your solicitor in funds to carry out searches, so you are ahead of the game from day one and keep the agent fully informed of what you have done. This would impress many vendors and give them confidence not to jump ship for a couple of grand or so.

    Answered on Sep 16 2010, Report content
  • Unfortunately yes, nothing in a private treaty transaction is binding until exchange. If a party chooses to make an offer on a house that is 'under offer' the agent is under a legal obligation to put that to the seller, and take their instructions. However the agent should notify you of these events.

    Answered on Sep 16 2010, Report content

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