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Original poster

Seller accepted a lower offer from a buyer who hasn't sold their house rather than us FTB, what to do

79 replies

jaaadejade · 06/07/2018 06:20

Tldr seller chose an offer which is lower than what we offered from a couple who haven't even put their house up for sale rather than our offer for £2000 more, we have no chain and offered first. What to do next?

We put in 2 offers on a house which is on the market for £155000 (but needs a lot of work hence my low first offer) which were rejected (first on the Monday at £136500 and the next on thursday for £142500), and I said I'd be back in touch shortly with another offer, the seller then recieved another offer for £4000 more a few days later from buyers who were non proceedable (had to sell their own house first) and without coming back to us to see if we'd up our offer the sellers accepted that offer and chose to take the house off the market for 6-8 weeks to see if the other couple can sell their house.

The next day we offered £6000 more than our latest offer (£148500) however this was rejected as even though we're first time buyers and have no chain she felt bad the other couple had specifically put their house on the market to buy this house so supposedly felt like she couldn't accept their offer. The seller is a widowed old lady (86) and bought this house with her husband 18 years ago however she already has a house bought with cash (so no chain) at the opposite end of the country which she wants to move to.

How do we avoid just continuously upping our offer until she can't say no or do you have any other tips to persuade her (we already emailed the estate agents a letter about us and why we'd like the house to give to her) ? We can't really wait 6-8 weeks. Someone suggested lowering our offer to match the offer she already accepted but adding that upon completion offering to pay a portion (£500) to the other couple to compensate for lost estate agents fees?

Everything I've read says not to look at houses without a mortgage in principle (which we have) or being in a position to proceed, so are we missing something? Why would a seller choose their offer for less when they aren't even able to sell any time soon? I feel like if the other couple didn't want to sell they wouldn't be looking at houses. Estate agents have been less than helpful.

OP posts:

Gizlotsmum · 06/07/2018 06:26

It sounds like she doesn’t want to accept your higher offer having already accepted an offer. The agent should have got back to you to tell you and give you the option to increase your offer but I like her principles. I think you have to accept this is not the house for you right now ( maybe in 6 weeks ask again) but keep looking

43percentburnt · 06/07/2018 06:27

Either The agents will have advised her to take the other offer, possibly because they will then get two sales rather than one (assuming the buyer instructed them to sell).

Or the owner preferred the other people. It sounds daft but if the owner was present on the viewings and she liked the family that may be why she will wait.

PhilODox · 06/07/2018 06:27

Honestly? Accept you're not getting this house and move on.

I wouldn't have faffed around making so many offers, tbh. Makes you look desperate for the house.

FTB with mortgage in principle are ideal buyers- their loss not yours.

Try to be less invested in the houses, and you'll be more likely to get one for a reasonable price.

43percentburnt · 06/07/2018 06:30

Alternatively you may have offended her with your initial offer which was very low. despite the fact you think the house is worth considerably more than your first offer (or you wouldn’t have gone up). You tried a cheeky offer and annoyed her.

Imchlibob · 06/07/2018 06:31

You can't really do anything. The house belongs to the current owners and they are under no obligation to sell to the highest bidder. Maybe they like the other couple more than you. Maybe they feel emotional about leaving this house and they want to be picky about who has it. They may have taken afront that your first offer seemed far too low to them and then your second offer was a flakey "offering this much now but will offer a different amount shortly, not telling you what" which would piss me off and makes you look unreliable and possibly likely to gazzump later in the process.

Anyway it's their choice and they don't want to sell to you. Carry on looking elsewhere.

Whackytaco · 06/07/2018 06:32

The seller wasn't to know you were definitely going to come back with a higher offer so accepted the one she got after yours.
She's being fair to the other buyers by not accepting your offer.

If you really like the house, keep your eyes on it and ask the EA in a few weeks how it's going.
Or start looking for another house.

eurochick · 06/07/2018 06:34

You can't do anything. We outbid the next best offer by 115k. They still went with the other people. What can you do? They can sell to whoever they like.

UrsulaPandress · 06/07/2018 06:34

She's accepted an offer. Why would she then charge her mind?

SocksRock · 06/07/2018 06:36

When we sold our last house we stuck with the original offer we had had even though someone came in with a higher one. It seemed like the right thing to do. You can't force someone to sell to you, find another house.

Shortstuff08 · 06/07/2018 06:36

I think you waited too long between offers.

You say you made your initial offer, then the other couple made their offer a few days later. Then the next day, you made your second offer.

She probably accept the other couples offer because she thought you weren't coming back to her. She may feel that now she has accepted their offer, it would be bad form to back out.

Either that or she was insulted by your low offer, or can't be arsed with the faffing about.

Your only choice is to wait 6 weeks and give your offer again. Or find a new house and forget this one.

resignedtoresigning · 06/07/2018 06:37

A similar thing happened to us when we were selling and we decided to stay with the buyers we'd accepted the offer from, even though the buyer in your position offered us 10k more. We figured a) it was a shitty thing to do to renege on an offer once we'd accepted and we knew the people we'd accepted the offer from were really excited abput the house and they seemed lovely and b) karma would probably bite us on the arse later in the process if we did. We could really have used that 10k but it didn't feel right to take it.

Maybe the seller just has principles!!

43percentburnt · 06/07/2018 06:38

Just reread your post and I do think you may have offended her. It’s the family home she shared with her husband, which is presumably habitable and she is not desperate to sell (she had enough money to buy cash) and you said it needed so much work it was only worth 136500. (Despite an agent valuing at more and her getting 2 offers for more).

What work did you tell the agent it needed? Was she present at the viewing? Did you mention during the viewing that things needed altering?
Are houses in your area selling for such a large percentage under the asking price? Did you take advice before you offered so low (your mortgage broker would know this info)?

kaldefotter · 06/07/2018 06:43

It sounds like she may have been so insulted by your first offer that she won’t sell to you on principle. That’s her prerogative. Your best bet is to move on.

Original poster

jaaadejade · 06/07/2018 06:46

It was actually the agent who told us to offer around that amount in the first place as the other houses in the area were valued at £140,000 to £145,000 in much better condition (this house needs a new kitchen desperately, new boiler, new carpets, garden taming and a lot of modernisation so this was all costed up and brought us to our first offer) . And to answer some other questions we waited that long between the offers as after a few days of not hearing back we had to chase the agents for an answer

OP posts:

Original poster

jaaadejade · 06/07/2018 06:48

We only told them we'd be making another offer shortly once they'd rejected our previous offer, I would have made it there and then but had a meeting I had to get too as it was my lunch break. It was actually the owner who showed us round so it is possible she simply preferred the other couple :(

OP posts:

shouldwestayorshouldwego · 06/07/2018 06:51

She just liked the other buyers more. Perhaps she thinks you are a developer or being a FTB you are going to get picky over the survey and drop your offer again. Maybe the others had a cute kid in tow and she wanted to see a family get a foot on the ladder. Maybe the other couple have already instructed lawyers and solicitors so would be out of pocket. To her it is only 2000k different and with nearly 150000 in the bank at 86yrs of age the extra money isn't going to make a huge difference. Not sure that there is much you can do.

gamerwidow · 06/07/2018 06:55

You can’t do anything move on. somewhere better will come up it always does in time.

Original poster

jaaadejade · 06/07/2018 07:05

The other couple haven't put their house on the market yet. Apparently they are putting their house on the market specifically to buy this one. Also they made their offer Saturday apparently and we made our final offer Tuesday while their offer was still being considered, so we also probably did wait too long between offers. What would be the ideal time to up your offer? I though by coming back with another one as soon as they reject the other would make you look desperate. Thanks for all the advice so far. The house wasn't perfect so I think we will walk away.

OP posts:

drearydeardre · 06/07/2018 07:08

I am always wary of ftb who go in with a low offer and witter on about work that needs 'desperately doing' it puts my back up and you were slow upping your offer.
Also as a pp said - FTBs who want the 'all done and dusted' house are a pain during the sale in my experience.
move on and keep looking and use the experience next time.

BalloonSlayer · 06/07/2018 07:09

But she didn't accept a lower offer than yours. She accepted a higher offer at the time than you had offered her. She is being decent and keeping to her word, which is refreshing. What you have offered since is of no consequence.

Chalk it up to experience: you tried to get her to drop 18.5 grand off the asking price (which is 12% of the asking price, a LOT) and it lost you the house.

londonrach · 06/07/2018 07:14

You cant do anything. She doesnt want to sell to you, probably because of your first offer. Forget this house and find another. Next time dont offer so low as think you got her back up there. Ask estate agent next time a hint of what offer would be accepted.

MartyMcFly1984 · 06/07/2018 07:17

If other houses in the area are on for less, and need less work, buy one of those.
This house is now off the market, so it would be bad form for an agent to accept new offers, although I don’t know if they’re specifically allowed to refuse to pass them on.
As someone who paid spot on price for a house needing modernisation, I would advise not paying a penny over what it is worth. It’s hard work, expensive, bigger issues emerge, and it takes on so long.
Just find an alternative. This one isn’t meant for you

DollyPlastic · 06/07/2018 07:24

You've pissed her off and come across as cheeky.

You've got no option but to walk away.

Shortstuff08 · 06/07/2018 07:25

I have just bought my house. First time buying alone. I didn't have a house to sell. The marital home was sold a while ago.

It took one day of negotiating. I made 3 offers and it went back and forth. I made an offer they rejected it, I took advice and gave another offer. Then the same again. I made my final offer and made it clear it was my final offer.

You tried to play a game and made decisions so you didn't appear desperate but you missed out. When we sold our house, I rejected several offers from people that were trying to play games. I don't have time for that. I certainly didn't have time to deal with those sorts of people through the legal process.

Its a business transaction, it's not about appearing desperate. You want to buy it, then treat it as a business transaction.

Shortstuff08 · 06/07/2018 07:26

There was over a week between your offers. That's a really long time.

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