I have accepted an offer but another buyer has just offered more - what can I do?

I have accepted an offer but another buyer has just offered more - what can I do?

Anthea Masey (Private Sales Expert) gives expert video advice on: My buyer has dropped out - what can I do? and more...

If another buyer has offered a higher offer after you have accepted another offer there is nothing legally to stop you accepting the higher offer and rejecting the first offer that you received. However, this is know as "gasumping" and will make you extremely unpopular. If you want to behave ethically towards your buyers it may well be that it's worth discussing with both the buyers that you have, that you have now received a higher offer, and see whether they come up with a higher offer, and if they do, well then you've made a few extra thousand pounds. If they don't then it's really up to your conscience whether you accept the higher offer or not, and again, it may all come down to whether the higher offer is in a good position to actually proceed with the purchase or not.