First time buyer, did I screw up this negotiation? 😅

[Punkindrublic]

Hello everybody I could do with your reassurance! Im a first time buyer and found a house I really loved. The issue was it was overpriced. This was a 2 bed, and the for the price they were asking, we are in 3 bed territory where I am. Its very cute, but I was worried that when it comes time for the valuation, it would come up as overvalued.
I started low and negotiated up, I then offer 10K less and stood firm on that when the agent came back to me and said could I just go a tiny bit further up. I get thw impression the agent was a bit surprised when I said no.
Now the agent has come back to me and said the sellers thank me for my offer, they can't accept but will keep it on the table.
Did I screw this up? Because now im thinking maybe if I had offered just 1k more it would have passed. Im totally new to all this. What does keeping it on the table mean? Do I just need to forget about it now?

You run a real risk of that estate agent refusing to deal with you on either this or any other property on their books.

Eek OP, that would make me not sell to you at any price! Don't muck people around - it's their home (for the time being) and that just seems really spiteful and childish.

A month is no time at all to be on the market.
If you are at 10k under, where did you start negotiations. They are probably pissed off with your time wasting tbh (I'm an agent)

Wow just read your update. They accepted your offer and you have reduced by a further 20k. If I was that agent I would advise the refuse your ridiculous offer and then I wouldnt show you any other houses on our books either. Complete and utter dick move. You will be the laughing stock in that office

Let’s be clear, OP made an offer and the seller messed around saying they’d think about it and come back. OP didn’t specifically expire their offer, but the seller didn’t ask (nor did the agent) how long the offer was valid for. Following a more comprehensive review of their option, OP has declined their acceptance of their offer and revised it down. It is a business transaction. OP is free to offer the price they feel the property is worth, and the seller is free to accept or decline. There’s no point getting invested in a purchase at a price higher than you’re actually willing to pay.

Of course.

Although I’d dispute that the seller “messing around” a saying you’ll think about an offer is totally fine.

I still wouldn’t sell to her because I’d be stressed that she’d reassess again close to exchange.

When the probate sale of my patents house fell through, the estate agents went back to interested parties. One couple reduced their offer by 20k. I told them I would never sell to them and stood by my word even when they went back to their original offer.

if I were you I would move on and find somewhere else.

Kindly, I disagree. OP stated:
Now the agent has come back to me and said the sellers thank me for my offer, they can't accept but will keep it on the table.

They specifically declined the offer but wanted to keep OP hanging in the wings. That is, by definition, messing OP about.

I think the op did the right thing. She is no longer that bothered about the property and thinks its still overpriced - but would buy it at a lower price. Perhaps the seller will stamp their feet, it doesn't really matter. Perhaps the seller will have learned a lesson for future offers, even if they can't bring themselves to negotiate with the op.
Its quite funny really because the next time they get an offer its likley to be even less if the OP is right about the true value.

The agent called me today and is passing the new offer on.
If some of you think you would cut your nose off to spite your face, thats fair enough.
The estate agent didnt bat an eyelid. If you overprice your house, expect to go through some haggling IMO. The fact is they need to sell their house, and im both detached and not in a hurry.
Why shouldnt I play it to my advantage?
Their listed price is excessive, and my new offer isnt trying to get it for a song, its readjusting it to what i genuinely think its value is, based on having viewed multiple properties in the area. The estate agent clearly agrees

Let me reassure you that while the Agent may not have batted an eyelid as they have to put all offers forward they will still view you as an absolute dick. You came here seeking advice but its obvious you know it all in spite of never actually purchasing your own property. I hope no one ever treats you like this

Why did you post if you’re happy and totally sure that you’re handling the agent in the right way?

You haven't dealt with this well. You say that the house is overpriced, which it may well be but you should have bid whatever you have now offered initially and not allowed yourself to be pressurised into increasing and increasing your offer. The sellers are unlikely to take your offer seriously and/or will not trust you fully if they do so there is a higher chance of things falling through done the line.
Anyway, learn from it if you bid on another property in the future. I made some recommendations earlier in the thread so maybe have a look at those now.

The agent is required to pass on all offers. It doesn’t mean they agree with it! If I was the seller I’d counter at something closer to your initial offer.