Can a house seller accept another offer after a bid has been accepted?

There is an assumption that under Scottish law once an offer has been made then nothing can be changed. But of course, both the purchaser and the seller have a right to reject a bid if the circumstances change. The purchaser in this case had still to secure a mortgage so would have had to walk away from the bid if this had not been forthcoming.

However, the general principle does stand that if an offer is made and accepted by the respective legal teams then that should be upheld unless there are mitigating factors involved. Wanting a few thousand pounds more would not count as a mitigating factor.

If this situation occurred most agents and lawyers would go back to their client and say that they would not represent them if they wished to reject the original bid in favour of a slightly higher one if the first offer had already been verbally accepted. Approaching a vendor directly should not supersede the relationship and contract the lawyer or agent has with the seller.

The Scottish system is designed to avoid the gazumping of the English system so that people cannot keep on upping their offers. Once the closing date has passed, then, the best offer is accepted or, in what appears to be the situation in this case, prior to a closing date being announced then an accepted offer should end the marketing of a property.