Lost out on dream home. Absolutely gutted.

[WankmasterBastardDeLaShithead]

We've been needing to move somewhere bigger for years (and needing it now more than ever for to working from home), but haven't found anything suitable until last week. Perfect home at a price we can afford. I was prepared to go pretty much all out for it (with enough cash spare to do redecorating and renovating). Got advice from three agents on what to bid (Scottish system, offers over) and they all advised going much lower. I had researched the fuck out of house prices in the area, and it seemed hard to reconcile this info with their advice. DH was onboard with a high offer at first, but felt we should listen to the agents' advice. I persuaded him to go a bit higher than they suggested, but basically started doubting myself to push for what I thought would be our best chance offer. Just found out that we missed out by a small margin. I just feel sick.

And if one more person says "something else will come up" I'm going to smash something... This place was a total anomaly, and I've not seen anything like it in all the time I've been looking.

But how can you put an offer in if you've not got a buyer for your house????

We lost a house because we hadn't sold and someone who was renting got it as they were in a position to proceed -

3orange - it has enough bedrooms for all of us (4 beds), plus a study and a spare room, and it's on the street that I love.

But how can you put an offer in if you've not got a buyer for your house????

Why not? There absolutely no way I'd be selling first - we'll sell in a week or two and the supply of properties is so low at the moment that there's no chance we'd find somewhere to move to in time.

OP I feel so sorry for you. We're in a similar-ish position in that we are waiting and waiting for the ideal house, there are so few of them coming on the market (only a handful worth viewing in the past few years) and I have The Fear that when our dream place eventually comes on we won't get it and we'll be back to square one. Literally years of looking.

A lot of sales are falling through at the moment so it could come back on. Otherwise best of luck for another miracle...

I dont think you can make an offer in Scotland till you are in a position to proceed which means having a buyer. AFAIK.

You can make an offer subject to sale. Increasingly common over the last few years, apparently.

Of course you can! It’s up to the seller you’re offering to.

@Viviennemary

I dont think you can make an offer in Scotland till you are in a position to proceed which means having a buyer. AFAIK.

You can absolutely make an offer subject to selling your own. Of course, the seller may opt for someone who has already sold.

The way things are just now more and more people are opting not to sell until they’ve offered on something which is adding to the problem a bit I think. You need to of course be fairly confident that your property will sell and for the figure you want/need.

With the offers over system you really really should always give your best and highest offer you are willing to go to and forget what anyone says if you really really want it.

Nothing else helpful to say but I feel your pain!

I always think of this one house as "the one that got away".

I like the house I'm in now... but that house just felt like 'home'. It was ever so slightly out our price range, took a punt but it went to someone else who could offer higher.

I was devastated for weeks! Definitely feel your pain!

I know you don't want to read this but I'm going to say it any way!! We bought last year (in Scotland) we found our dream home it ticked every box we were totally in love with it, we agonised over what to bid looked at other local prices etc and went way over the asking price our solicitor thought we were mad we didn't get it!! We were devastated, and decided to give up trying to buy a house it was the third one we'd bid on and not got (every time going in a lot over the asking price) and we were also cash buyer so we were told and thought this would be in our favour.
a few days I came home from work and my DH was on Rightmove and said "what about this one?" by then I knew every bloody 4 bedroomed house by a loch/sea in Scotland between John O'Groats and Gretna,and Id dismissed it weeks ago. Slightly under protest I booked to see it. To cut along story short we now own it and it really is our dream home we have never been happier. Looking back at the others we failed to get I am relieved our bids weren't successful as none were as nice as the one we finally were successful bidding on. I should also add the above mentioned first dream home that we failed to get came back on the market about 4 weeks after we bid on it and as far as I can tell is still on the market as it has slightly unique issues that wouldn't suit everyone. A work colleague is very fatalistic and told me to be the same maybe she right the other just weren't meant to be.
Good luck OP in time something will come up.

I'm in Scotland and have always bought and sold by the closed bid system.
I would never, ever take advice from an agent on where to pitch my offer. I would NEVER divulge to them, (or the seller), or even hint how much I might be going to bid. Because all they have to do is tell other keen bidders who will then make sure to top it. Nor do I ever let the seller, or their agent, know that I've fallen in love with their house and am desperate to buy it.

When a closing date is set, the selling agent or the sellers lawyer is required to tell you how many people sent a Note of Interest. In my experience this is a useful indicator of how many competitive bids you might face .

Then bid what the property is worth to YOU. If you really want it, bid accordingly.

@WankmasterBastardDeLaShithead I really don’t want to give too much hope, but I was in exactly the same position as you. However, the opportunity came up for me to buy ‘the one’ two weeks after I’d given up all hope.

It might happen, it might not. But just wanted to share.

I’ll take that smoke in the park with you.

We’ve just put out house up for sale. We viewed a new build last weekend.. the last one. We need an offer on our house before we can pay a reservation fee. I just know that with the current market it’s not going to be there by the time we get an offer.

I’ve just my hopes way too high and know I’m going to be crushed.

A word of advice for the future. Always pay what a house is worth to YOU. If it's your dream 'forever' home, sod what anybody tells you it's worth or whether you might be over paying.

I lost out on a house as the vendor told me he had an asking price offer but wasn't keen on the guy buying, so if we matched it it was ours. I thought he was trying it on, so we offered 10k under. He refused, we upped to the asking price, but he went with the original offer. I was devastated... I actually grieved for that house. 3 months on i got a call to say the sale had fallen through and it was ours if we wanted it! The survey brought up lots of stuff, extensions had no paperwork (probably why the other guy pulled out). We tried reducing our offer by 5k but he refused. We loved the house too much to lose it again.

In hindsight we did overpay (going by market rate) but never have I regretted it. Our house is perfect for us and it was worth the extra money to secure it.

Definitely put a note through the door explaining what has happened. It does sound a little suspect you were convinced to offer less. Good luck!

Seems like very odd advice you got in the current market
For competitive bids you have to offer as much as you can if you want the property

And basically never believe anything the estate agent tells you

Happened to me eighteen months ago it’s horrible, sorry Wankmaster

You'll be in a much stronger position if you sell yours first, I don't know the Scottish system but we just couldn't get a look in until we had an offer on the table for ours. In the end we had to stop looking until we had an offer as it just broke our hearts not being able to approach the houses coming up. I know from the stress of my own chain I simply wouldn't entertain an offer from an unproceedable buyer, I wouldn't come off the market for one. I do empathise, we were beaten to our dream home 18 months ago, it was devastating. It worked out eventually but nothing helps the sadness at the time.