Should we bid higher? Bidding against ourselves basically!

[HouseBuyingNightmare]

We have been trying to buy a house for a while. We have had 2 sales fall through due to being gazumped and one due to vendor withdrawing from the market. That’s the ones where we’ve been sale agreed, not counting the ones where we’ve been outbid. I’m tired and jaded by it all.

So enter another house. It went back on the market a month ago after the sale falling through. The vendors are sale agreed on a house and the chain has decided to wait for them.

The property was marketed at £255k. We are FTB and put a bid in of asking price. Two days later we get a call from the agent saying a cash buyer had gone 2k higher. We thought about it and the next day we put a bid in of 260k. They have now come back to us after a week and said we are the highest bidder, there are no other bidders but they don’t want to accept any lower than 270k. I am a bit pissed off, why didn’t they market it nearer the price they wanted? Do we put a higher offer in or just walk away?

C4tastrophe it is still saying - asking price £255000.

It's ridiculous that the vendors want 270k but put it on at 255k. Houses are going for under asking now, not over. I feel that house could be on the market for a long time. Like another said, I wouldn't be surprised if they come back to you. If they do, and you are still interested I would lower your offer.

No as I said we have now paid a deposit and booked a new build, so even if they did ring back, we are now committed elsewhere.

My mind is boggling a bit at their thought process but never mind that’s on them. I feel a bit sorry for the others in their chain though.

Ah sorry, thought you meant booked a viewing. Congrats on finding a house.
Completely baffled by their thought process.