Anyone been Gazumped?? or have Gazumped??

We have been waiting for paperwork on property check etc (the standards) for over a week now - and will be early next week before we get the last of it.

We havent signed the contract yet but have a verbal agreement on the house.

The real estate keep ringing and pressuring about the sign date but we wont sign until building, pest and council plans get the all clear on the house as there is no getting out of the contract.

Has anyone been in this waiting game and been gazuumped?

it plays the back of my mind but i dont want to be scared into signing then everything turns to mush with poor reports and we are stuck with the house because you cant get out of the contract.

any experiences?

We signed the contract with an 'out clause' - we could cancel the contract at any time if we were unhappy with the building or pest reports.

This almost happened to us when we bought our current home,but luckily the other offending party ended up falling through. You are definitely doing the right thing. . .dont let the agent pressure you to sign until you have your inspections and are happy. Yes there can be some dodgy shenanigans but try not to worry too much, they are probably just trying to rush the sale for their own convenience. Oh and congrats on almost buying a house, hope it all works well. :)

princessXare you in nsw?
i was told we have onlya 5 day cooling off and if we pull out have to pay 2.5% of sale to the vendor.

You can sign the contract to be conditional.

We signed ours subject to finance and subject to a soil test.

That way if the soil test came back that it was a problem block we don't have to go thru with the purchase.

You would be able to sign it with conditions being pest inspection etc etc

All the best.

yep we signed it conditional too. subject to pest and building (14days to get it done) subject to finance (45 days to get it done) and then the 5 day cooling off period too which is just standard. i am in QLD.

the laws are different in NSW, you dont have conditions in the contract like in QLD..

We signed subject to conditions (and I'm in QLD).

Yep :(

We put our offer in writing and thought it had been accepted (it had been verbally) but the vendor didn't sign it. He then took another offer through a different agent without giving us the chance to increase ours. We later found out he had it for sale through 4 agents. We knew of 3 :rolleyes:

thsnks girls but yep
you cant do conditions in NSW