Outbid by rich kid

[tenapenny2018]

Just a bid rant. Got outbid by some rich kid with parents buying.

Little prat basically emotionally blackmailed the parents until they caved in and upped offer on mine.

I have not taken a penny from my parents, since I turned 18.

You sound delightful.

How do you know what the other person's circumstances are?

Oh.

Wow, you sound unpleasant. You also appear to know an awful lot of details about the other bidder.

These thing happen with property purchases I'm afraid.

I’m afraid some people have more resources than others. Frustrating to be outbid but it doesn’t really matter who by.

If it hadn't been a rich kid or kid with rich parents, it could have been a cash buyer or just someone else with a bit more money than you.

It is disappointing to be outbid/gazumped but sadly it happens and there's nothing we can do about it apart from start looking again.

Breaking news - person buys house by offering more than another prospective buyer.

How do you know so much about the circumstances of the other buyer?

How on Earth do you know that they emotionally blackmailed their parents?

Good! You sound not a nice person.

Oh do go away...

X-post Jaguarana, I'm a slow typist!

If it’s not possible to bid any higher (or doesn’t make financial sense) walk away! It’s not the house for you and it’s not meant to be. You never know there could be an even better house around the corner and you’ll look back and be glad you didn’t buy this house.

It’s crap but it’s just life- some people get lots of help, but it doesn’t always pay in the end for them. In my experience ease of access to money can lead to some bad financial management and life decisions- people who have to make their own way might have it harder, but they probably learn more valuable life lessons and appreciate what they’ve worked hard for more. Don’t let this eat away at you, it’s not helpful.

I know the circumstance, because we viewed the property at the same time and I overheard the little prat threatening the parents.

Also afterwards I asked the agent that who was outbidding me, because I need to check whether I am competing against BoMaD, which can turn into a bidding war, which I do not want. There were other viewers on the day too and no one else offered.

The agents cannot tell me how much they offered, but they confirmed it was the rich kid's parents.

Threatening the parents ?

You need to separate money form emotion when you are buying a house. That buyer wanted to spend more and had more. You move on to the next house.

You sound very bitter. Time for some therapy?

I'm imagining Verucca Salt from Charlie and the Chocolate Factory!

m.youtube.com/watch?v=Pqsy7V0wphI

Don’t let it get to you. Look for the next house. Energy spent resenting the buyer is a waste of time.

Said something along the line of "Dad, until I have this house, my life cannot move on etc etc"...

TBH, I feel sorry for the parents. They may actually just want to get rid of the kid, that's why they are paying.

It’s irrelevant how they are affording it. They have more money than you at this moment in time.

Well it sounds like he had a traumatic experience. You should feel pleased he gets the opportunity to now move on 😀

Hardly threatening, still

You don’t know what they have been through.

Life isn't fair OP. Competition isn't fair. It's not the kids fault that his parents have money to buy him a house. You move onto the next one. I'm surprised there's a bidding war in a pre Brexit environment though