Originally Posted by Pistolpete2

I wouldn't say not an accepted offer because there has been an offer and it has been accepted but offer and acceptance does not mean there is a contract under the laws of contract in this case as there still has to be the actual exchange of the contracts, at which point it then becomes sold subject to contract.

In contract law you have to be clear as to what it is you are actually dealing with therefore with the price offer and acceptance you've tied down the price bit. When you exchange contracts you've ironed out exactly what condition the property is in and what "strings" are or are not attached to the property inside and out.

Originally Posted by Beedubya

You can also get gazumped in the rental market, a friend of mine and her husband went to look at a private flat for rent via an estate agent, they really liked it and they told the estate agent at the viewing who said he would email them some forms that evening, they filled them in, went to the real estate the next day with forms and deposit and was told the flat had been taken by somebody who had paid their deposit immediately, not knowing this was how the system worked they were effectively gazumped.

Originally Posted by windsong

So the lesson is to have money in hand and a pen in your pocket at the time you decide you want it?

Originally Posted by johnh009

Thanks, I am about to buy so I need to know these things. I notice the Zoopla site also has a section on what houses actually sold for also. I am hoping in this market that I do not get gazundered.

Originally Posted by cheers

What gets me is when you want to rent the landlord can ask for these fees up front and after you have paid him your hard earned money he can turn you down and keep the money, so this brings to mind you can make a business of having a rental and just make money by taking applications and the money from them and never renting the place out

Originally Posted by sallysimmons

I watch a lot (a lot! ) of UK property shows and I notice that the professional homefinders always demand that the house comes off the market immediately the offer is accepted. It shouldn't remain in the window or on Rightmove where anyone else can find it. They usually make that a condition of slightly upping the offer. I suppose people could still find it because of the 'sold' sign but this must help reduce the chances.

Originally Posted by sallysimmons

Yes. It happened to me in the past - it's very common because in the UK system there's no legal commitment until quite late in the process. Here in the US, once you make your offer, you have to put it in writing and pay a deposit. If you back out after that, you lose your deposit. I think that's a better system.

Originally Posted by windsong

I won't be buying unless I win the lottery, of course, but I still find it educational and it also shows me the lovely British countryside

Originally Posted by bandrui

Again very good value for money. A lovely house. Not a fan of the oil central heating though and though I really enjoyed my travels through Wales, there was this sense of "gloominess" in the samller towns that I couldn't quite put my finger on. Perhaps due to economic conditions.

Originally Posted by Pistolpete2

You can check it on either Zoopla, nethouseprices.com or rightmove if you know the post code.

Originally Posted by cheers

Although part of my ancestry is from Wales I think of the witches in some places I've been in 'deep' Wales so maybe thats what you can't put your finger on.

Originally Posted by cheers

I figured out how to find the post code! It involves posting the property on here and then when you bring it up instead of it showing the name of the town it shows the post code. Now if I could do the reverse without having to Google it????