Hi Crew,
I have been gazumped before and it left a bad taste in my mouth for a while. However one must realise that there are both ethics and legal requirements in place when it comes to selling and buying.
Now I find myself in a position where I may be tested. Where do I stand? All alone pondering the deep decisions? No. I have a reliable force of opinionated (and experienced) forumites ready to come to my aid.
Ok, here is the looming scenario. Purchaser 1 has made an offer that we have accepted early last week. As far as I know there has been no deposit submitted yet but contracts are being drawn up. Yesterday Purchaser 2 turns up for 1st inspection. She is made aware of P1 offer and is returning today for 2nd inspection to check if wireless BB operates adequately as she works from home. She is obviously keen on the place.
So if she offers higher what is the ethical way to deal with the situation? I am sure that prior to exchange I can sell it to who I want. But I am a guy who doesn't like to break a deal - man of my word so to speak.
Have you been in this position before? And what did you do? Advice appreciated.
I have been gazumped before and it left a bad taste in my mouth for a while. However one must realise that there are both ethics and legal requirements in place when it comes to selling and buying.
Now I find myself in a position where I may be tested. Where do I stand? All alone pondering the deep decisions? No. I have a reliable force of opinionated (and experienced) forumites ready to come to my aid.
Ok, here is the looming scenario. Purchaser 1 has made an offer that we have accepted early last week. As far as I know there has been no deposit submitted yet but contracts are being drawn up. Yesterday Purchaser 2 turns up for 1st inspection. She is made aware of P1 offer and is returning today for 2nd inspection to check if wireless BB operates adequately as she works from home. She is obviously keen on the place.
So if she offers higher what is the ethical way to deal with the situation? I am sure that prior to exchange I can sell it to who I want. But I am a guy who doesn't like to break a deal - man of my word so to speak.
Have you been in this position before? And what did you do? Advice appreciated.