Feel like I overpaid for a house

[luckycat888]

Just won the bid on a house but there was (allegedly) another offer on the table from a cash buyer and so I was asked to put down more money. The EA indicated what amount the vendor was looking for and I went lower than that but it’s still extra money I hadn’t expected to pay and now I feel really shit, like it’s not a good deal and should I even bother? I checked Zoopla valuation which says it’s worth more than what my offer was by over £10k.
Guide price had a £25k range and we ended up just less than the half way point. AIBU to feel shit and now less excited about the house or should I feel happy I “won”?

What makes you so sure the EA lied to you about there being a cash buyer? You were welcome to stick to your original offer and say you weren't prepared to go higher. But you didn't. You offered more and you got the house which was what you presumably wanted

I don't understand this, to be honest. When it comes to buying a house, there is lots of 'haggling' going on in many cases. If you're not happy about it now and think it wasn't worth paying more for it, just withdraw and start looking again?

@Silvers11I know the cash buyer part is genuine but how much they offered might have been inflated to get me to put down more

The first chain we were in with 5 houses in it collapsed. Two months later the vendors of the house we purchased had us over a barrel because it we’d have agreed to just about anything they asked.

Ok. The point is though that if you liked the house then you wouldn't be fretting like this. Just move along before everyone spends more money and while the other buyers are still on the scene.

In todays market for housing, it is normal to pay above the asking price.

My Dsis offered €50,000 over the asking price recently and was outbid. It is a supply and demand issue.

OP there were multiple interested parties so of course there was competitive tension on the price. There is no such thing as a bargain when you're buying a house.

If you like it buy it if you don't then pull out.

There might be grounds to negotiate a bit if something major comes up in the survey.