Active discussions

Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Original poster

Unsure if should accept low offer on house

133 replies

HollyJane92 · 09/05/2025 13:59

Hi everyone,

We sadly lost my dad last year, and have been trying to sell his house since summer 2024.

We have recently received three offers, from one person, all of which we rejected due to being too low.

But I’m really questioning if we’re over valuing the house and think it’s worth more than it is.

When we were looking to sell, we asked four EA to value it. 3 came back saying it was worth £200,000-£220,000 but one came back saying £310,000. So naturally we went with the latter one. Since August, we’ve had little interest. We dropped it twice, now on at £255,000.

As mentioned, one person is really keen for the house, but they’re saying it’s only worth £190,000, £200,000 max and they won’t go beyond £205,000. She’s a first time buyer, not in a chain and as far as I’m aware, she has a good job and has the deposit etc.

We really want to sell, as we’re really exhausted by it all, but £205,000 seems so low when we were originally told it would get us around £300,000.

I should say that the house is a little dated, and needs a little TLC. Also, with it being a pre-war house, the bathroom is downstairs. Which suited my dad, but I think this is causing a bit of an issue.

Although we rejected the offer of £205,000, the person has left it on the table.

Has anyone else been in this position? And what did you do?

Thanks, H :)

OP posts:
suah · 09/05/2025 16:13

Until you mentioned the prices I wondered if you might be selling a house I’ve put a few offers on!

The agent that told you £310k clearly hugely overvalued it given nicer properties nearby are selling for much less. I’d take the offer you have, which is in line with the actual realistic valuations you received.

Changeissmall · 09/05/2025 16:22

The other house the agents are selling maybe has sellers who were more realistic and didn’t give the impression they’d be swayed by a silly estimate.
You’ve said yourself that what you can get for 310 (or less!) is way way better than what you’re selling so obviously nobody is going to pay that for yours.
It’s worth what’s been offered after exhausting marketing. 205.

housethatbuiltme · 09/05/2025 16:22

You went with the highest quote... which was £100k more than the others which where the same as each and in line with sold prices???

Why? What was your logic for thinking that could possibly be right other than (and I don't mean this nastily) greed, that EA saw you coming a mile off and you need to snap out of daydreamland.

At this point you are really lucky to have an interested buyer willing to pay the actual value of the house. The price is not 'low', you are not losing anything as it blatantly wasn't worth anywhere near £300k.

You can hold onto it forever and not sell but you will be paying fees and if stood empty it will deteriorate... its only costing you more money and going down in value by the month.

From what you have said about the house and sold prices + how long on the market with no interest you should be biting the buyers hand off.

FiveBarGate · 09/05/2025 16:27

The real question is what will a bank value it at.

Even if you do find a buyer prepared to pay £250k, if they need a mortgage then bank will need to agree it's worth that much.

If they don't then they'd have to fund the difference themselves or you need a cash buyer.
The pool of people prepared to do that is small.

If it's a unique house or in a small village with a lot of demand and little housing stock some people are prepared to overpay to secure what they want.

But if it's a standard house on an estate where you can simply buy a different one, why would you?

If you don't think you'd choose this house versus others for a similar price, that should tell you something.

Seeyousoonboo · 09/05/2025 16:28

In a favourable market I could get £230,000. But I’ve no idea if we are in a favourable market. Please keep saying it’s a buyers market, but I’ve no idea.

Well have you had an offer of that? No. It is nothing to do with if its a favourable market more to do with if it is priced appropriately for the market and it hasn't had any higher offers so again, that is your answer.

housethatbuiltme · 09/05/2025 16:33

HollyJane92 · 09/05/2025 15:24

The person who put the offer in did leave the offer on the table, but I wonder how long they’d leave it. So now I’m a bit worried I’ve missed the boat with them. Communication is a bit slow with the EA.
and no, I definitely won’t be recommending them or using them again.

You also have to be careful with coming back to old offers.

We offered on a probate house we LOVED nearly 5 months ago, we are very easy, no chain, first time, cash buyers. Well despite us getting an offer in early they didn't accept the offer right away and then 2 weeks later got another higher offer for a higher amount and took that instead. Now 4 months later and that whole thing has fallen apart on them and they came back asking to accept our offer... but they missed the boat we are 2 month deep and nearing completion on buying a different house now.

We would have been done, dusted and owned it by now if they had accepted us in the first place.

MoominMai · 09/05/2025 16:36

I don’t really understand the problem. I thought the whole point of getting several valuations was to go with the majority view which here was in the 200k range. If it really was worth more then you’d know because people would have been falling over themselves with higher offers. Fingers xd for you anyway that you get a sale soon with your lower selling price.

Loubylie · 09/05/2025 16:38

I would accept the offer. It's not low. It's what the house is worth.

paranoiaofpufflings · 09/05/2025 16:40

3 of the 4 agents valued the house at £200000-220000, and you now have an offer above the minimum of that range - look at it that way.
I would accept the offer of £205000.

If that buyer has moved on now, I would spend a little time and money to do up the basics. Then re-photograph and move to a different agent. You’ll be marketing at a lower price then the current one gave you, but it’ll be more realistic and will move on quicker.

Bluevelvetsofa · 09/05/2025 16:43

You can accept the offer you regard as low, or you can hold out for a higher one and risk not getting an offer at all. It depends how much you want the house to be sold.

I agree that the EA you went with, priced it unrealistically. If it’s a question of selling lower than you want or not selling at all, I know which I’d choose.

DoYouReally · 09/05/2025 16:57

You asked 4 estate agents.

3 knew what they were talking about because they priced it within the range of your offer.

I even told you you might get more but with the caveat of it being in a favourable market.

You then chose to go with the one who stood out as clueless.

If anything by going with the overpromising and highly inaccurate estate agent has cost you. The other 3 are clearly better at their job and may have managed to get your a better price.

Mildura · 09/05/2025 17:05

DoYouReally · 09/05/2025 16:57

You asked 4 estate agents.

3 knew what they were talking about because they priced it within the range of your offer.

I even told you you might get more but with the caveat of it being in a favourable market.

You then chose to go with the one who stood out as clueless.

If anything by going with the overpromising and highly inaccurate estate agent has cost you. The other 3 are clearly better at their job and may have managed to get your a better price.

But, potentially, the clueless one might be the only agent to get paid! And might be rewarded for their strategy!

NewBinBag · 09/05/2025 17:13

I mean...

Three estate agents said 200-220. Then you did your own research...

Looking at properties that have sold 2023-2024 in the area, the is the thing, they’ve all sold for around £190,000-£220,000. The £220,000 ones had an upstairs bathroom and large kitchen extension, which my dad’s house doesn’t have.

So being realistic 300 was never going to happen & holding out for it is costing you in terms of:

  • council tax
  • unearned interest
  • unnecessary home insurance
  • the risk of squatters who will need legal intervention (£££).

It's not my house but as an impartial observer, cut your losses and get rid ASAP.

1543click · 09/05/2025 17:14

We were the same with my dad's house. Held out for a higher offer than the one we thought was much too low and in the end had to accept an even lower one! Looking back with hindsight we could only see our family home and not that it was a rather run down house.

HollieHock · 09/05/2025 17:17

The agent who gave you the highest price wasn't very good were they.

I'd accept the offer that you've got before house prices drop again. The longer you are responsible for the house the more that could go wrong and need repair. A bird in the hand and all that stuff.

sugarspiceandeverythingnice12 · 09/05/2025 17:19

Icecreamandcoffee · 09/05/2025 15:00

The fact that 3 EA came up with similar valuations suggests that £200k-£220k was a realistic price. The £310k one was way out of whack and should have raised alarm bells.

Unfortunately the house has now sat on the market and so people will be wondering what is wrong with it or decided it's well overpriced. What do other properties in the area marketed at over £300k look like?

At £205k you are within the original 3 EAs estimates so is an achievable figure and in line with what the house is worth. Especially as at that price point there are a lot of potential buyers. Anything half decent at that price point usually gets snapped up quickly if priced realistically.

Either take the offer or take the property off the market and relist again with a more realistic agent for offers within that original £200-220k range.

This is absolutely on the money

DelphiniumBlue · 09/05/2025 17:34

A house is worth what someone is prepared to pay for it.
You've had the house on the market for nearly a year, and this is your best ( only?) offer. What makes you think anyone is going to come along and offer an extra 50k?
It doesn't really matter what the estate agents say, they can only offer educated guesses. The fact that 3 of them thought the house was worth somewhere in the ballpark of the actual real life offer suggests that they were right. The other agent may have been over optimistic or less than honest in a bid to get the right to sell the house for you. It doesn't really matter which, if they were going to find a buyer at that higher price, it would have happened by now.
So yes, I think you should accept the offer on the table. What other options do have?

CheeseyOnionPie · 09/05/2025 17:49

I would take her best offer. You’ve said the house need some work and that’s not going to come cheap. Unfortunately a lot of estate agents tell you the world just to get you the sign on with them and then you’re stuck and have to lower the price.

AliBaliBee1234 · 09/05/2025 18:04

All my valuations were the same so it's strange you had one so far out.

If you haven't had much interest at 255k it would suggest that the valuation of 300k was a bit overinflated.

I think i'd probably just accept

rainingsnoring · 09/05/2025 18:07

I don't understand why you chose the estate agent who suggested a price 50% higher than three others and far above what other houses have sold for in the area. As others have said, the agent you chose to use massively over valued your property. The real value of the house is likely around 200k. If I were you, I would immediately accept the very reasonable sounding offer. Your other option is to stay on the market and hope you receive a better offer but that's unlikely when you have had none in nearly a year.

floppybit · 09/05/2025 18:14

I’d accept her offer

Original poster
HollyJane92 · 10/05/2025 08:32

Thanks everyone for their honesty.
I’m going to speak to my brother and see if we can get an agreement on accepting this offer.
I understand people’s views on how we should have questioned the EA with the higher valuation, however at the time we trusted them. They’re a very large and well known EA. Learnt our lesson there.

OP posts:
Twiglets1 · 10/05/2025 10:23

HollyJane92 · 10/05/2025 08:32

Thanks everyone for their honesty.
I’m going to speak to my brother and see if we can get an agreement on accepting this offer.
I understand people’s views on how we should have questioned the EA with the higher valuation, however at the time we trusted them. They’re a very large and well known EA. Learnt our lesson there.

You live and learn.

I'm more appreciative of the service good EAs provide than a lot of people on Mumsnet. But even I take everything they say with a pinch of salt.

TotemPolly · 10/05/2025 10:31

When I sold the family home ( parents home ) I sold at under asking , and had this view - my parents had purchased it years ago , mortgage paid off , and the house still gained value .
They had raised a family in it , had a good life in it , and now although it was looking a bit tired , it was time to pass on .

That was 10 years ago , another family purchased it , did a complete refurb and sold on to another family who have lived there 7/8 years.

XVGN · 10/05/2025 10:38

senua · 09/05/2025 14:28

We dropped it twice, now on at £255,000.
Drop it again. Somewhere between your current asking (255) and current offer (205). See who bites.

This is almost the textbook definition of "chasing the market down / trying to catch a falling knife".

An offer has been made within the range of most EA estimates. Bite their hand off.

Swipe left for the next trending thread