Sale Agreed on one property, can I bid on another with the same estate agent?

PixiePop

I have gone sale agreed on a property that I love, only drawback is the north facing garden. Also got into a bidding war so paying over the odds. Another house has come up in the area that is identical to the first house, except it is south facing! Same asking price and all. Obviously it might sell for more but I feel that even if it sells for the same as what I am paying for the first house it will be better value as it is south facing. So can I look and bid on this house? Or will the estate agent think I am an unreliable buyer and advise the vendor of the second house not to sell to me as I'll have to pull out of first house in order to buy the second? Anyone any experience with this?

bop1977

yes. until you get as far as paying a deposit and signing contracts you can pull out. and as you were in a bidding war the estate agent will probably go back to the other bidder asking them if they are still interested, saving them re advertising it.

the estate agent will have asked for proof of funds they before going sale agreed they should have a good idea of how much you are approved for so might try to squeeze you on the sale price.

the estate agent might also be wary of taking your offer incase you see something else that tickles your pickle and you pull out again.

best bet is to talk to the estate agent and explain that you'd prefer the south facing garden and go from there.

Cyrus

https://www.boards.ie/discussion/2058296947/sale-agreed-on-one-property-can-i-bid-on-another-with-the-same-estate-agent

nothing to add really only you will not regret going for a south facing garden but there is a high chance of regretting a north facing one.

PixiePop

https://www.boards.ie/discussion/comment/120611739#Comment_120611739

Yes, that's my fear, that they will think I'm too fickle and, with all the potential buyers out there, not recommend me to the second house vendors. Or, as the house is identical, just accept a bid on from the underbidders on the first house. I have bid on so many houses and have gotten no where that I was delighted to get to "offer accepted" stage but now worrying that I was acting out of desperation and "settling". But they do say you have to compromise too

PixiePop

https://www.boards.ie/discussion/comment/120611751#Comment_120611751

Yes I fear that too. But how do I approach this with the estate agent?

Col_30

The estate agent is acting in the interest of their client and probably won't take too kindly to this. You will be seen as flaky and they will probably advise their client(s) that you aren't a solid bidder and accept the next best offer or prioritize some other interested party. Be careful as you could lose out on both.

Also, if you aren't 100% committed to the north facing garden property, you should pull out. You are blocking someone else from buying it and also, misleading the vendors who think they have sold their house - wasting everyone's time.

PixiePop

https://www.boards.ie/discussion/comment/120611801#Comment_120611801

Yes I agree. But it's a lot of money to spend when you think there is a better option down the street!

PixiePop

https://www.boards.ie/discussion/comment/120611801#Comment_120611801

Yes I agree, and I was very happy to proceed until this other one came on as now I worry I'll always feel like I didn't go for the best one. That I should had just waited and been more patient for the "perfect" house. So I will probably have to pull out of first one knowing I also won't get the second

Former Former Former

https://www.boards.ie/discussion/comment/120611767#Comment_120611767

Do you have a partner who could give their name, at least in the initial bidding?

The underbidder from "your" house might still be in the market and if so, your EA will be able to just bring them back in.

Or the underbidder might also have seen the house down the street...

spaceHopper

The same bidders as the first house will bid on this one. You know their limit, so if you want it I'd bid the same as you are SA on the first one. Go for it if you want it but what if you can't close on this house, bad survey, bad title.... you risk losing the first one.

C3PO

In the current market, if I was the Estate Agent, I’d be very wary of you and advice the vendor to go with an alternative buyer if they can achieve a similar bid elsewhere. I’d also be very surprised if they would let you bid on the 2nd house until you pull out of the sale of the 1st.

herbalplants

https://www.boards.ie/discussion/2058296947/sale-agreed-on-one-property-can-i-bid-on-another-with-the-same-estate-agent

Go for it. You won't be buying houses every year, so make the most of best choice.

o1s1n

Yeah I'd say go the route of getting your partner to register and bid under this other house if you're going for a joint purchase.

If they manage to win the bidding and go sale agreed pull our of the other one.

Imagine how sick you'd be if the one with the south facing garden went for less than your current sale agreed price.