WWYD “sought after” house still available 3 months later

[Southernupnorthen]

A bit of background for context. DH and I are moving quite a distance south, back to my hometown to (hopefully) start a family. Properties in my hometown are much more in demand and more expensive in the city we currently live in.

We sold early Jan and immediately started looking in my hometown. We lost out on a couple when offering 10-20 over asking.

At the end of Jan we found one we loved and offered asking price. The estate agent told us that there were lots of offers and that our offer wouldn’t be high enough and gave us a figure the vendors were looking for. We went just under that and got it, apparently as we’d sold to a first time buyer and not as we were highest bid.

The survey was awful. It was damp, had possible active woodworm, no escape windows, needed a new flat roof to the extension. Our current house had no escape windows and we had replaced a flat roof so we weren’t so phased by those but damp and woodworm were new to us. We went back to the estate agents and were told there was no negotiating to be done on the price as there had been so much interest and so many other offers.

We still loved the property, we had works priced and decided that we still wanted it and would use the money we planned for new kitchen and bathroom for remedial works. We got all this priced and all was progressing well until our buyer lost his job and pulled out. This was mid Feb.

Our vendors went straight back on the market (it’s a second home so I get they’re wasting money it being empty). It has taken us until now to resell as the market isn’t great we’re we are. We’ve resold again to first time buyers so are looking again. I’ve not been on rightmove since it all fell through as I’ve been feeling fed up about it all.

Lo and behold, the property is still on the market. I rang from my friends phone asking the estate agent about it and they haven’t had much interest and are looking for at least asking price!

I know they didn’t necessarily (but I bet the bloody did) lie through their teeth to make me (I know, a complete numpty) pay over the odds and not renegotiate the price after the survey.

The sale falling through has been a lucky escape, either from paying too much if we go back now and offer A LOT less or from the house altogether. I just am not sure which one!

If you're still interested in it, offer less & stated why (survey, length of time in market etc). At least you aren't emotional attached to it anymore so if they don't accept you won't feel upset.

There probably were other people interested in the property at that time, but they've bought somewhere else in the meantime.

If it's a house you like, put in an offer.

I think there’s a sort of psychological phenomenon that makes you want something more when others want it, and want it less when others aren’t bothered!

I bid on a house in February, there were five offers within the week, three over asking -two of which from cash buyers. It was sold days after it went on the market and I missed out. I was gutted at the time!
Anyway, something has clearly happened with that purchase, and now the property has been sitting on the market for nearly two months. I don’t really want it any more! The downsides seem to be far more important and the upsides less so, now the initial rush and competition isn’t there. Weird huh! Whoever does buy it though will probably get a good price I should think. So maybe worth you putting in another offer, if you really do still like it? You may get a bargain!