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We offered more but other buyer is chain free. Lost cause?

33 replies

sellotape12 · 13/05/2023 16:30

I’m so anxious and tired of trying to move! We finally found a property and now it’s a waiting game. We made a good, decisive timely offer to the agent, who’s told us the other offer on the table is slightly less £ but they’re chain free. We have a FTB underneath us (they’re organised, patient and flexible on timings). Is it a lost cause for us? We are reasonably proceeded with our own sale but don’t see how we can compete with a chain free buyer 😞 Has this even happened to you? Anything I can do to try improve our position? I’d even do a note through the letterbox unless that’s cringe.

The vendor whose house we want to buy a family with twins and so they’re trying to time getting in to schools in Sept. They asked via the agent if we ‘could be patient’ about their onward purchase, whatever that means.

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sellotape12 · 15/05/2023 13:09

dream not steam *

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Ariela · 15/05/2023 13:54

I would sound out your surveyor and see when they might have availability, sound out your buyers, and find out when they think they'd be in a position to exchange/complete (have the MIP and survey done yet?), and then feed that & the MIP info and are v keen to move quickly so as to not lose your FTB (mention you just lost out on one that was well progressed), back to the EA. You may well be a month or two ahead of the other FTB.

gotmychristmasmiracle · 15/05/2023 14:39

Aww so sorry! Yes defo keep on top of your buyers and exchange contracts soon as possible as puts you in a really good position and if the house you wanted comes back on the market, your good to go!
It's really tough we ended up homeless during our move and ended up in caravan for 3 months, never goes smoothly!! We sold to the family that most loved our home as felt that would push it through stronger/quicker than any first time buyer. Abit too quick in hindsight!

NewKidOnTheBlock99 · 15/05/2023 15:18

Just wanted to pop and say so sorry OP! Exact same thing happened to us a month ago! Went £10k over asking - EAs let slip we had the highest offer out of all 6 on the table, met the owners twice who we got on really well with, they hadn’t found anywhere yet and we basically thought we had it in the bag as they mentioned they knew we wouldn’t have any problems selling where we currently are (our viewings were commencing the weekend after we viewed) and stupidly thought we would be appealing to them to give them time to find somewhere! They went with a lower offer from a FTB! I’m still devastated but everything happens for a reason @DancingQueen2019 your post has given me hope!

sellotape12 · 15/05/2023 15:53

@NewKidOnTheBlock99 Ooooof NewKid that is particularly brutal. I’m so sorry for you! You met the owner? I’ve never heard of that. But I would have been exactly the same; meeting someone makes it feel personal even if it is of course just a business transaction. I hope things change. You never know!

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Tellmeimcrazy · 15/05/2023 15:55

You know one thing with these things is that they always always work out for the best. OP even if this one doesn't work out believe me you'll find something more suited in the long run. Update us!

sellotape12 · 15/05/2023 16:08

@Ariela Yes our own buyers are through the survey and have their mortgage done and approved. So they are through the usually risky and lengthy bits. They are very emotionally committed to our house which our agent has reiterated to the next agent. But the vendor of the house we wanted has felt that the chain free buyer is less risky. They feel there’s one less link to go wrong and because they haven’t found their onward purchase they perceive us as too risky (not sure what is meant behind this). We have put our case forward that yes, whilst we have a FTB under us, they are in a flexi rent contact and are further along the process but also happy to wait. This puts us at parity with a chain feee buyer in some ways, however it’s a perception thing. I don’t know what else we could have done 💔

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sellotape12 · 17/05/2023 16:20

@Tellmeimcrazy thanks love! I hope so. I just couldn’t believe that a house came up on the dream streets. Can’t imagine that anything on the road will come up again. But I’m not moving for the sake of it – it’s got to be right. I’m really trying to grieving process ‘losing’ this house, even though it was fair and square. And I’m foolishly clinging onto a tiny bit of hope that it does come back to market, even though I don’t think it well. “It’s the hope what kills you” as they say…

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