Offering on a £1m+ house

[Househunters1]

House came to market in 2023 at £1.4 but was swiftly reduced to £1.35m.

In 2024 this was reduced again to £1.25. As of 2025 (when we viewed) it is £1.2-1.25m.

The sellers are an older couple who have raised their children in the house and those children along with their GCs have moved to a different area. The house has 6 bedrooms and the man has a degenerative illness that reduces life expectancy. I’d estimate they’re both late 60s.

They had an offer for £1.2m in 2024 which the rejected. In January 2025 they apparently had an offer for £1.24m but this fell through.

We offered £1.155m, this was rejected. From what the EA said, getting to £1.2m could get the offer accepted as they seem adamant on getting their guide but what they want is £1.225m.

I know I can’t control them and their decisions. But I need some confirmation that our offer was reasonable? It’s been on years now with two agents and no other interest.

We are firm we wouldn’t go above £1.175 but haven’t offered that yet. How would you approach it? It’s been a month now since we offered.

£1.175 final offer. Be prepared to mean it and walk away. If it’s meant to be then it will happen.

but is it worth losing over £25k in the big scheme of things? Just think it may be worth offering 1.2 just depends if this is THE HOUSE!

Your offer was reasonable!

They have been reducing by very small increments percentage wise, which is not what good EAs recommend. I would guess one of the sellers is very stubborn. It seems foolish when the husband has a degenerative illness so really their priority should be to just get the house sold.

It has been a month so they aren’t about to accept your current offer. I would offer the 1.175M and really emphasise to the EA that is the final offer you will be making. I think the EA will be doing everything in their power to get the sellers to accept it.

It will be hard for the sellers psychologically to accept 1.175M when they turned down 1.2M in 2024 but they haven’t played the game of house selling very well. The longer it stays on the market the less desirable it appears so even if they reject your offer they would be lucky to get anyone willing to pay more now.

I think you’d need to offer something the 1.2 offer didn’t have eg be in rented and able to move fast. If thats you, make it clear why you are a great serious buyer?

This is how I feel.

The reason we’re not willing yet to go to 1.2m is we didn’t feel it was quite worth that at the beginning. The house is in good condition as well looked after but decor is very outdated - at least 15 years. £1.2m down the road can get a lovely looking house of similar stature but we preferred the plot here and were willing to do the work.

Zoopla puts the house as worth £1.2m based on the market.

I think it’s THE house for £1.175 but I don’t think it’s THE house for £1.2 which I know sounds ridiculous but I made a hard line and I want to stick to it.

We are able to move at their pace, no chain etc. but the estate agent said that if we offered £1.2m he’d sit down with them to try talk them into it basically. It seems like this is a very emotional thing for them and they are hard on their wants.

The longer that goes by the more I feel like we are the better buyer.

I think it’s useful with these big numbers to think in percentages.

£25k is ~ 2%.

My advice is don’t put much weight on Zoopla - they just use an algorithm so won’t take into account factors like whether the plot is a good one or not.

I think the EA will sit them down and try very hard to get them to accept your increased offer whether it’s 1.175M or 2M, makes tiny difference to their commission.

I almost feel sorry for the EA if the sellers reject your offer because it would be foolish of them. But then the EA gave them unrealistic expectations at the start by listing it at 1.4M so they are partly to blame for it sitting on the market so long.

They sound very emotionally attached and may need more than cash to sway them that you are the right buyer. Do you have children to raise in the house that you can explain with offer - this may make them feel you will love the house as much as them.
However, they could have family members telling them they should not accept less than X.
Whether your offer is fair has so many variables.

Is it worth losing for 25k? If you don't offer 1.2 will you be regretting it in a years time?

Is it a very big / expensive house for the area? Is that why it’s not sold quickly?

How long do you think you’ll live in it?

Personally if I really wanted it, I wouldn’t quibble over £25k. You’re not unreasonable to offer what you have, but they’re not unreasonable to want what they want. It’s desirable to you, it’s probably desirable for others. It depends how you would feel if someone else snapped it up for just £25k more?

Yes, your offer was more than reasonable, only a few % off the asking price.

These sellers have made the classic mistake of over pricing their property and then reducing by too small amounts too slowly so that the house becomes even less desirable. If the husband is so unwell, it is rather foolish of them.

It sounds as if the maximum price you are prepared to pay is £1.175 so offer that, in writing, making it very clear that this is your maximum offer.
The, move on and reconsider the properties being marketed at £1.2 in much better condition. It wouldn't be wise to over pay in this market.

Another one who wouldn't let a good house go for the sake of £25k. Everyone gets a bit less or pays a bit more and everyone's marginally down but can live with it.

We had a similar situation (although not quite such big numbers!) older couple, only people to ever own the house, been in 30 plus years, hugely emotional sale etc.
We made sure we were in the best buyers possible (finance in place, house sold etc) before making 1 best and final offer and being clear we weren’t here to negotiate and would walk away. They took it 😊
My advice would be to take a similar approach and let the EA do their job and convince them to sell.

I would play the long game and make the lower offer. The stamp duty break is over. I met a friend yesterday who has 2 brothers going through divorces and they've had to take hits of up to 20% on the asking prices of high end London properties and still haven't sold. This couple bought years ago and the sale proceeds will be all windfall for them.

Sounds like they don't have to sell, so probably will only sell for what they consider to be the right amount. My in laws in similar position...house on market and prrobably not worth what they think it is, but will hold out and not move if don't get offered right price, even though house super impractical.

Can you write letter along with better offer, explaiing how you love the house, will love and cherish it, place to raise family etc

I agree, but it doesn’t work both ways.

If you’re the buyer it’s a relatively small % mortgage increment to secure the house of your dreams.

If you’re the seller, though, it translates into £50K in your pocket, which goes a long way if you’re cashing out (especially if you’re dealing with potential care costs for a life limiting illness).

Hi OP, I think you have decided already. You aren't going to go to 1.2. As a third party outside observer I would say make that last offer give them 48 hours to think about it. Then move on if they don't accept it. You can't remain in this limbo.
Sometimes things just don't break the way we want. I missed out on a flat in - get this- Mornington Crescent about 25 years ago. I still think about it from time to time. But I'm a born again South London Nationalist now so everything ended well!

For the sake of 25k with these numbers I’d just pay it if it wasn’t a financial tipping point , I couldn’t be bothered playing long game and would want to just get on….

They’ll hold out for the number that reflects the value of their home to them. They might have other reasons that the extra £25k is a deal breaker. When it’s an actual cash amount out this can take on more significance.

It may seem irrational to you, but they’ve already done this for years, and they could continue for years yet to hold out for the magic number. If you want the house you are going to have to go to £1.2m and let the agent try and convince them you’re the golden goose. You could try upping to £1.175m first, but if they are fixed, they’re fixed

We encountered this twice - first time we met asking and they still pulled out last minute due to cold feet (taking a much lower price years later). Second time it was a crazy overpriced house that they simply refused to budge on at all. It took five years and the market to catch up with what they were asking for it to sell.

You’re dealing with emotions not logic on this one.

This is the thing and why I said that I wouldn't over pay at present.
It sounds as if you have your line in the sand price so offer them that if you want to but prepared to move on. This 'dream house' thing is a total fallacy; there are always other houses where you could be equally content. At some point, this couple may regret not taking your offer, just as they must regret turning down the 1.2 million previously.

Yes, they liked us because we have a young family and met us and liked us. They just want the money.

Not really. It’s obviously big but we’re in the South. It is slightly at the very edge of the nice area (where we currently live).

but as an example, a house on the same road with same sqft sold for £1.275 this year and was IMMACULATE inside, you wouldn’t change a thing. To do the same to this would be at least £100-200k. If that was available, we’d have gone for that.

There’s a lot of £1m+ houses coming to market and they are selling quicker so I think this is a case of being overpriced at the time.

I think you are being VERY unreasonable in not putting a Rightmove link on.