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Original poster

Dream house back on the market for 75k more

28 replies

fedupwiththis5 · 05/06/2021 23:14

I saw my dream house come up for sale two months ago. We weren’t proceedable at the time so didn’t bother booking a viewing as we knew it would go fast. It went under offer two weeks later (no surprise there!) and I thought that was that. However, I checked Rightmove again today and it’s just been relisted... for 75k more than it was in April! What could have happened?!

OP posts:
Didicat · 05/06/2021 23:16

Ooh Rightmove link?

redglobox · 05/06/2021 23:24

Seller asked for more money and buyer pulled out?

Original poster
fedupwiththis5 · 05/06/2021 23:30

How could a house go up by that much money in such a short space of time though? Do you think the seller decided it was undervalued in the first place? I’d be gutted if I was the buyer!

OP posts:
readytosell · 05/06/2021 23:45

What percentage? If it's from 100,000 to 175,000 that's a huge jump. From 2,000,000 to 2,075,000 it's not that big!

And is it worth the value at 75k more?

HmmmmmmInteresting · 05/06/2021 23:49

They received loads of offers over the asking price and so thought the house had been undervalued. It's a crazy seller's market at the moment.

Link?

LivingLaVidaCovid · 05/06/2021 23:52

My guess is...
The previous buyer offered 75k over asking and the sale fell through.the sellersnow havd that number in their mind and won't settle for less.

MissCruellaDeVil · 05/06/2021 23:57

It was possibly undervalued before, or as a PP said many offers above asking price. Again, the before and after price would be helpful as 100-175k is huge, whereas 1m plus is not.

seven201 · 06/06/2021 00:08

We had our house valued last year and a few weeks ago. There's a 75k difference. Estate agent said there's just no houses coming on where we are so prices have gone up. Doesn't help us as wherever we'd want to buy will have gone up too!

PermanentTemporary · 06/06/2021 00:10

There's some unbelievable prices being asked at the moment. Though tbh my mum has just sold for 25k over the asking price, 75k more than she had it on the market for 18 months ago. Some estate agents are brilliant at their jobs.

HelpMeh · 06/06/2021 00:13

People have gone mad. Buyers and sellers alike.

mklanch · 06/06/2021 10:09

the same thing happened to us with a house we really liked. it was on for 6 months for £415k...then they moved to a different estate agent and the price went to £450k! and some idiot has offered that as its not sstc!
another house we saw was on since summer of last year...was on for £280k , a week later it appeared with a different estate agent for £325k! its been on with this estate agent for 3 months and is not selling! i dont understand it at all

Ideasplease322 · 06/06/2021 10:18

There may have been lots of bids at the original price and it became apparent the house was worth more in the correct market.

The person buying it may have dropped output for a reason not related to that house.

It doesn’t really matter why it’s marketed at a higher price now. You can still offer lower. But be prepared to be rejected

IanHBuckells · 06/06/2021 10:22

We had our house valued for mortgage 4 months ago. Next door have just put their similar but slightly smaller/worse decorative condition/funny layout house (theirs is a semi- ours is detached) on the market for £100k more than our valuation and have had a steady stream of potential buyers.

I'm almost certain the bubble will burst soon- it's crazy.

Original poster
fedupwiththis5 · 06/06/2021 10:39

By my maths the price has gone up by 20%.

DH is refusing to view, as he says he couldn’t stomach paying so much more knowing what it was on for just two months ago! Sad

OP posts:
Ideasplease322 · 06/06/2021 10:51

Your husband is being too emotional about this. It doesn’t matter what it was on for a few months ago. All that matters is what it is worth today to you.

Obviously don’t pay an amount that you think is too much, but if you can afford it and if you believe it is worth that amount then what does it matter what is was marketed at a few months ago?

If it is too high they won’t get it, why not view it, out in a low offer and if it is rejected ask to be kept informed.

ManyMaybes · 06/06/2021 10:57

Definitely don’t get to upset about what it was listed for before - as others have said it’s likely that someone offered a higher price for it and you never would have been able to buy it for the original asking price anyway

Ideasplease322 · 06/06/2021 11:27

Where I am I can see things starting to slow down. The first stamp duty deadline is gone and it will be tough to get completion by end sept so the craziness has died down.

But there is still the lifestyle changes, people will work from home a lot more so housing needs are changing.

I am moving to get a decent sized garden and a bigger home office. The stamp duty holiday wasn’t really a factor.

Moonshine11 · 06/06/2021 11:30

Whilst I understand it’s annoying it’s went up that much it all depends how much the house is worth to you.
It’s worth a viewing and see how you feel after.

NervousBuyer2021 · 06/06/2021 20:42

You don’t know the price it actually went sale agreed for - was it previously priced to sell quickly in which case they may have had a much higher offer...I would at the very least call up and find out more especially if it really is your dream house.

drpet49 · 06/06/2021 20:49

I’m with your husband. 75k more in two months is outrageous. I wouldn’t view it either

Badromancer · 06/06/2021 20:50

This reply has been withdrawn

Withdrawn at poster's request

Ideasplease322 · 06/06/2021 21:54

@drpet49

I’m with your husband. 75k more in two months is outrageous. I wouldn’t view it either
I really don’t understand this attitude. Why does it matter?

View it, decide what you think it’s worth and offer that. I assume you know the market and have a good idea what houses are selling for.

People get far too emotional when buying houses, try and play silly games or take offence at asking prices.

You don’t have to offer what it’s marketed for, but if you huff and refuse to view houses because you don’t like how it’s being marketed you won’t get very far.

SecretOfChange · 06/06/2021 22:13

One plausible explanation could be that they obtained a planning permission for an extension which previously was 'maybe possible', and now is definitely possible.

I would go and view it for sure, you've got nothing to lose by viewing!

ChateauMargaux · 07/06/2021 12:18

How does the price compare to other similar houses in the area?

How many of your boxes does it tick?

Can you afford it at its new price?

Are there other houses in the area that tick your boxes that are cheaper and on the market?

It may be that it was significantly underpriced before and this is more reflective of its market value.

If you have viewed other houses in the same price bracket to compare if you were to view it?

I have 'overpaid' for a house but there was literally nothing else on the market in the area that fitted out criteria and we were already in temporary accommodation 4 hours away from our previous home and needed to move to our ideal location for school. There were compromises to be made and we choose to make them.

Bluntness100 · 07/06/2021 12:25

But your husband doesn’t know what it sold for. There could have been a bidding war a d it’s now relisted for the price it previously sold for.

He should view, you can always offer Lower. But it’s silly to say he won’t view because the list price is higher now, the list price was likely not the sale price.