Lost out on dream home 😥(24 Posts)
Hi all, would love some opinions although really I know I should forget and move on! A month ago our dream home came on the market it was perfect in every way for house, garden, schools, business opportunity from the home also. We wanted to offer straight away but the EA said we have more viewings booked in its very popular so may go to bids. We waited and waited then had a date to bid. We put in a really high offer and we didn't want to lose it and pretty good position with no chain just a transfer of mortgage and cash. It took a whole week and a half after the bid deadline to hear back saying they are selling to a cash buyer. In this week and a half the EA called twice first time asking further questions and second time saying the old gentlemen was forgetting the offers so he was going to meet with his nephew, He rang my mortgage guy and he said us and the cash guy were the ones in the running. I guessed my bid was higher otherwise they probably wouldn't have considered us. So sad now and wondered if I should write to the seller's and ask them to keep us in mind if anything should happen (Although estate agent said he would already) I just feel like I can't leave it but I guess I should. It is a house over 500,000 I am assuming it's a developer as they are buying cash and it needs a lot of work but obviously I don't know. Do I just leave it or would a letter be ok to send I know it would make me feel better that ive done everything I can
My friend decided to write a personal letter when she lost out. She talked about her family and children and their hopes and dreams for the future in the house. The buyers decided to sell to them as they wanted another family to enjoy the house as much as her family had( rather than a developer just making money)
I would do it. you have nothing to lose by writing to them.
Do it, you’ve already lost the house so it’s not going to make it worse.
Do write to seller. There is nothing to loose. We lost on a house because someone else offered a bit more than us. Then later on process they asked for price cut and eventually bought for less than what we had offered. Wish we had written to seller and seller knew how keen and in good position we were on buying, and contacted us when the buyer was asking for price cut later on process.
It would slightly annoy me to receive such a letter, but not to the extent that I wouldn't sell to the sender if the other sale fell through and no better offers came along.
We weren't the highest bidder on our last house, but I did include a letter stating our position and family home intentions (was pg at the time), perhaps it was the lack of chain, perhaps it's the fact we were going to love it (and we did, for over a decade) but there was certainly no harm. Good luck op.
Yes do write the letter. State your sincerity and desire to retain it as a home. Say you will hold your price (although survey can change that of course) Developers can be very flakey....and their offer might well be subject to ground surveys (is it clay?) and council PP.
You've nothing to loose.
It is a house over 500,000 I am assuming it's a developer as they are buying cash
I don't think you can make that assumption. A lot of people will have that kind of cash readily available. I would move on and forget about it. A letter will only annoy the seller and the decision has been made.
I would disagree with that , I doubt alot of people would have over half a million pounds readily available in cash to buy a house.
I have the attitude that if you lose a house it wasn't meant to be. As cash buyers at considerably in excess of £500K we lost out on a property in February which we all though was our dream home. We have now had an offer accepted on another property and all agree that it is far better and we were wowed by style over substance before.
From chatting with various agents high end cash buyers are really normal in our area people sell move into rented to find the right place or even have cash from inheritance or similar.
Sorry to be so blind as I know it has the potential to not bode well with them but I'm not sure why? Why would they be annoyed?
I would definitely write the seller a letter. The other buyer may be a developer, or they may not, it doesn't really matter. Cash buyers can be anyone.
We had a letter through the door asking to buy my parents house when my father died. It didn't annoy me - they were local people, who had always admired the house, and wanted a larger property.
Bear in mind:
1) If you don't do it, you will always wonder - and probably spend ages looking out for it online, to see if it relisted.
2) Many, MANY sales fall through - my neighbour is an estate agent for a well-known company, and she put is at around 1 in three to 1 in four that don't actually make it all the way to the finish.
Write to them, even if they were to be annoyed which I doubt you have already lost the house !
I will just write how balled over we were with the house and a few personal bits then just ask them to keep us in mind should the accepted offer not go through. Is that ok do you think?
Thank you for your replies I really appreciate it 😊
I was going to mention that we are unsure if there was anything more we could have done but we would love to discuss further if the opportunity came, but I don't know if that's a bit much?
Definitely do it - plenty of people who call themselves cash buyers turn out not to be when the process kicks in. Happens a lot on here and happened to us too when someone said she was a cash buyer but in fact meant that she didn't need a mortgage but still had to sell her house. So the cash buyer might not work out after all and they need to know that you're still in the frame. I wouldn't trust the EA to do it.
We did this with a house that we missed out on last year. We sent a letter thanking the vendor for allowing us to view their home, told them how much we liked the house and how it would suit our family. We also included some information about our current situation, the amount we would be happy to offer and left our contact details in case their situation changed. We received a lovely reply that said our letter was so heartfelt and they promised us first refusal if the sale did not progress.
I don't understand why the seller would be annoyed by a letter, as long as it is worded politely. It's not like we were trying to gazump their buyer.
Nb We didn't get the house and have since moved to a house that is actually more suited to us. So in some ways it wasnt meant to be but I am happier knowing that we did all we could.
Thanks I am very glad I've posted on here, I kept it short and sweet and just said why we like it so much and to please contact us should anything happen. I won't regret not doing it now and I don't think it can do much harm like most have said on here. Thanks again all x
Fingers crossed for you op. Either way I hope everything works out.
When we were looking to buy a house, the house we saw first was 'Dream House'.... everything we saw subsequently wasn't as good. We put in asking price and got rejected and told that despite being chain free (we lived in rented), another couple had put in a higher offer which had been accepted.
We continued looking, offered on another house (which the Estate Agent kept saying 'Ooooooh, can you do just 5K more? Just 5k More? They REALLY want to move, but even though it's above asking... another 5K?) And after the 2nd time, we told the EA to forget it, we'd find something else (the house eventually went off the market unsold)
I was working in London and my partner phoned, said he had a phone call from the Estate Agent who had represented the 'Dream House' sellers, that the original buyers couldn't get a mortgage and did we want another viewing. I literally commuted 2 hours back home, went straight around to the house and after 10 minutes we offered again (higher than before).
Despite STILL not being the highest offer, we got it accepted on the condition we could exchange and complete very quickly. As we were chain free, this wasn't an issue......
Long story, short, we've been in our 'Dream House' for just over 2 years and we still absolutely love it and nothing else came close. Therefore I'd not give up hope, but wouldn't bank on getting the house.... write the polite letter, but keep looking - that way, you've done all you can and won't think 'What if?', but won't drive yourself crazy if it doesn't come to anything.
Hope it goes well
Thanks Raindrop. Fluffy Persian that is great that it ended up being yours and that you are very happy there I think you just know what feels right it's good to know others experiences and I shouldn't lose all hope although with cash buyers I think my chances if it becoming available again are pretty slim but I've tried my best 😊
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