Active discussions

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Concerned about massive over-offer on house

69 replies

BeingATwatItsABingThing · 25/03/2023 14:18

My friend has had her house on the market for a while. It’s quite a niche house so it wasn’t selling quickly and finding the right buyer was going to take a while. They reduced the price twice in hopes to sell.

They had some viewings the other day and got an offer from someone who said he buys houses on a buy to let to rent to vulnerable families. He has offered £25,000 over the asking price. No bidding war or other offers.

Initially, I was chuffed for them but I’ve been thinking and something isn’t sitting right. Why would he offer so much over the asking price? Especially if he is hoping to rent it out for vulnerable families. I haven’t spoken to my friend about this yet because I can’t decide if I’m overreacting.

AIBU to be worried about this? Is this a scam?

(I know it’s not my house and none of my business but I wouldn’t want them to be caught up in a scam.)

OP posts:
Viviennemary · 25/03/2023 14:51

Sounds like it could be a scam. Wants the house off the market. Then has a survey then comes back with a very low offer. That's the usual script.

Emigratingimmigrant · 25/03/2023 14:50

It's a hook and fuck about.
High offer and then when everything is far gone and everyone invested, he will want price dropped considerably just before exchange or he will pull out

OnMyWayToSenility · 25/03/2023 14:49

Ask the star agents to check his finances throughly! Before any chance of accepting an offer. Cash buyer fine, mortgage no!
Then put stipulation of acceptance as offer price only. No quibbling over surveys or under offer before exchange

Original poster
BeingATwatItsABingThing · 25/03/2023 14:46

TennisWithDeborah · 25/03/2023 14:39

Perhaps he’s hoping to pull a significant reduction just before exchange, knowing that they’re very keen to sell having been on the market for so long.

£25k is what percentage of the asking price?

The house was on for £325k.

OP posts:
CindersAgain · 25/03/2023 14:45

BeingATwatItsABingThing · 25/03/2023 14:44

I was referring to the PP’s comment about someone wanting to rent the house before buying it. He’d have been living in it for 6 months before buying.

Show quote history

Oh I see!

Original poster
BeingATwatItsABingThing · 25/03/2023 14:44

CindersAgain · 25/03/2023 14:40

How can he damage it before he’s bought it? At a viewing?

Show quote history

I was referring to the PP’s comment about someone wanting to rent the house before buying it. He’d have been living in it for 6 months before buying.

OP posts:
CindersAgain · 25/03/2023 14:40

BeingATwatItsABingThing · 25/03/2023 14:32

Damage I mean.

Show quote history

How can he damage it before he’s bought it? At a viewing?

TennisWithDeborah · 25/03/2023 14:39

Perhaps he’s hoping to pull a significant reduction just before exchange, knowing that they’re very keen to sell having been on the market for so long.

£25k is what percentage of the asking price?

Original poster
BeingATwatItsABingThing · 25/03/2023 14:32

CindersAgain · 25/03/2023 14:30

What do you mean by what he could do to the house?

Show quote history

Damage I mean.

OP posts:
Original poster
BeingATwatItsABingThing · 25/03/2023 14:31

Moveforward · 25/03/2023 14:28

Does sound strange.

Even if hed had a lottery win, wouldn't he have saved the 25k and used it towards another property to house another vulnerable family?

Are their agents comfortable with his position and offer - do they find it unusual?

That’s my thought. Why wouldn’t he save the money?

I don’t know. I haven’t asked and I didn’t want to put a downer on their excitement if I was worried over nothing.

OP posts:
CindersAgain · 25/03/2023 14:30

BeingATwatItsABingThing · 25/03/2023 14:24

Yeah, that screams no!!! to me. Who knows what he could do to that house and then pull out of buying it?!

Show quote history

What do you mean by what he could do to the house?

timeforchampagne · 25/03/2023 14:30

How is he purchasing the property? Cash/ mortgage?
is the solicitor able to ask of proof of where the money is coming from?

Allthegoodnamesarechosen · 25/03/2023 14:29

There is always some sort of scam going on with this sort of offer, probably related to money laundering.

Original poster
BeingATwatItsABingThing · 25/03/2023 14:29

DysonBison · 25/03/2023 14:27

I'd be worried he'd turn round on completion day and demand a massive discount, or he'd pull out.

This would worry me too.

OP posts:
Moveforward · 25/03/2023 14:28

Does sound strange.

Even if hed had a lottery win, wouldn't he have saved the 25k and used it towards another property to house another vulnerable family?

Are their agents comfortable with his position and offer - do they find it unusual?

DysonBison · 25/03/2023 14:27

I'd be worried he'd turn round on completion day and demand a massive discount, or he'd pull out.

Original poster
BeingATwatItsABingThing · 25/03/2023 14:24

Wanttobeyou · 25/03/2023 14:21

Weird. An investor looks to get the best price and currently not many houses are going over asking.

I had an offer of full asking the other day from a guy who wanted to rent the house from me for 6 months first, then buy it. I had big concerns and obviously said no.

Yeah, that screams no!!! to me. Who knows what he could do to that house and then pull out of buying it?!

OP posts:
Wanttobeyou · 25/03/2023 14:21

Weird. An investor looks to get the best price and currently not many houses are going over asking.

I had an offer of full asking the other day from a guy who wanted to rent the house from me for 6 months first, then buy it. I had big concerns and obviously said no.

Swipe left for the next trending thread