Active discussions

Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Talk
Relationships

Mumsnet has not checked the qualifications of anyone posting here. If you need help urgently or expert advice, please see our domestic violence webguide and/or relationships webguide. Many Mumsnetters experiencing domestic abuse have found this thread helpful: Listen up, everybody

Original poster

Did my son over bid for this house?

42 replies

ByJadeUser · 09/10/2024 00:05

So my son and his GF viewed a property which was listed at offers over 144,950 and he said that the estate agent said that there was 10 viewings but currently only one offer which was 50 quid over the asking price. Its a four bedroom, new boiler system, fitted wardrobes with built in kitchen appliances, new floor, house rewired, big garage out the back and it was originally a council house built back years ago (but its very modern). My son and his GF fell in love with it and offered 150,000 for it, his father thinks he went over board and called him "stupid" and should of offered something like 146,000 but then my son said that if he did that then someone is more likely to round it off to 150,000 so thats why he did it first. He said he also didnt want a bidding war where they keep on bidding 500-1,000 more each and that he'll rather just be out bidded completly with a much bigger offer and move on if he doesnt get the house

My son says he thinks its worth more and that the owner deserves more than 50 quid extra because he kept it in very good condition, its basically a new house and thats even what the estate agent said.

Btw this was my sons first ever offer for a house and I dont own a home so I dont really know how it works.

Was my son stupid? Could that bid be false just to get him to pay more? Was it smart?

OP posts:
Foxblue · 09/10/2024 14:39

What an awful reaction to someone buying their first place. Your son and his girlfriend will never forget that (and I'd be willing to bet this isn't a one off incident either)

twomanyfrogsinabox · 09/10/2024 14:44

I remember buying a house and thinking (well knowing) we were offering a bit over. We were in a different EA's office talking to an agent and mentioned this house, described it and approximately where it was and he said it sounded like a great house in a good area and paying a bit over really wouldn't matter in a few years, and he was absolutely right. Actually a really nice guy since it meant we definitely wouldn't be buying off him. If its a good house in a good area and they are intending to stay there for quite a few years a few thousand really doesn't matter if it gets you the house.

It always surprises me when people say they lost their perfect property because they thought it was over priced by a trivial amount, that they could well afford to pay and then mope about not being able to find anything as good.

Dozycuntlaters · 09/10/2024 14:46

Are you still with DS's dad? I note you said you're not a homeowner so presumably neither is your husband? Jealousy maybe that his son at a tender age has done better in life than he has. Very mean whatever the reason and your son sounds very sensible.

GinnyPiggie · 09/10/2024 14:49

SausageRoll2020 · 09/10/2024 14:30

I am the only one who is really intrigued as to where in the country he's managed to find such a bargain...

No, me too! Whereabouts in this OP?

Couchpotato3 · 09/10/2024 14:53

So what if he overbid, or your husband thinks he did? It's nobody's business but your son and his girlfriend. The only appropriate response (unless specifically asked for your opinion) is to smile and congratulate them! Your husband sounds like a right charmer.

CutthroatDruTheViolent · 09/10/2024 14:57

A house is worth what you're willing to pay for it. His dad is being mean for the sake of it.

A jump from £144500 to £150k isn't huge, it's not like bidding over £200k.

We bought our house for £170k even though it was valued at £160k. It was worth it for us, as we're planning on living here for a long time. That was in 2021; property is now worth £200k based on estimates of the work we've done and just the market improving.

Fluffyelephant · 09/10/2024 14:58

I hate when parents do this. Are adamant that things still work exactly the same as they did in their day.

When it's a buyers' market (and for much of the last several decades) it was the norm to bid less than the asking price and gradually increase your offer until it was accepted. I can't comment on how the market is exactly right now (I think it has slowed down again) but when I bought 2 years ago it was mental and everyone I know had to offer over the asking price as sellers were getting multiple offers and everything was going to best and final offers. If you'd tried going under the asking price the estate agent would have laughed in your face and you wouldn't have got anywhere.

It's possible it's different again now and you can get somewhere offering under the asking price but your son (as the one who is actually looking, speaking to estate agents and putting offers in) would know more about the market right now and what's recommended, compared to your husband. Assuming he isn't also buying somewhere right now.

I hope you told your husband to shut up when he called your son stupid.

GivingUpFinally · 09/10/2024 15:00

SausageRoll2020 · 09/10/2024 14:30

I am the only one who is really intrigued as to where in the country he's managed to find such a bargain...

This. What a dream find for a four bed, finished property. Tell him he is hosting Christmas and putting you up!

He's done extremely well, and his thinking was en point. This could easily be a forever home for them.

BaconMassive · 09/10/2024 15:04

If there was any overpayment it amounts to about £160 a year over the lifetime of the mortgage.

I wouldn't sweat about it.

orangegato · 09/10/2024 15:06

I paid 15k over asking as I wanted the house? Pay what it’s worth to you.

DoloresHargreeves · 09/10/2024 15:08

Your son has had the good fortune to find a house that he loves, at a price that he can afford to put in an attractive offer for.

It's very sad that his own dad is more interested in making him feel bad and calling him names than he happy for him. Does your DH usually try and ruin things for your DS?

independencefreedom · 09/10/2024 15:18

ByJadeUser · 09/10/2024 00:05

So my son and his GF viewed a property which was listed at offers over 144,950 and he said that the estate agent said that there was 10 viewings but currently only one offer which was 50 quid over the asking price. Its a four bedroom, new boiler system, fitted wardrobes with built in kitchen appliances, new floor, house rewired, big garage out the back and it was originally a council house built back years ago (but its very modern). My son and his GF fell in love with it and offered 150,000 for it, his father thinks he went over board and called him "stupid" and should of offered something like 146,000 but then my son said that if he did that then someone is more likely to round it off to 150,000 so thats why he did it first. He said he also didnt want a bidding war where they keep on bidding 500-1,000 more each and that he'll rather just be out bidded completly with a much bigger offer and move on if he doesnt get the house

My son says he thinks its worth more and that the owner deserves more than 50 quid extra because he kept it in very good condition, its basically a new house and thats even what the estate agent said.

Btw this was my sons first ever offer for a house and I dont own a home so I dont really know how it works.

Was my son stupid? Could that bid be false just to get him to pay more? Was it smart?

Tell your husband to back off and be happy for your son. Buying your first home is a huge moment, don't let your DH ruin it.

MrsJoanDanvers · 09/10/2024 15:30

My son and his wife bid over the asking price in Manchester. The vendors had 2 days of viewings and then any offers to be submitted after. They’ve got it-it’s a house they can make their own in a popular area. I know some areas are very slow but Manchester is very busy. The alternative is paying over 1200 in rent every month because they can’t find anywhere. That sounds a great house-and the extra is worth having no hassle of decorating etc. Your partner has been a bit horrible-no doubt he’s one of those which refuses to pay over asking price on principle.

CocoPlum · 09/10/2024 15:32

GinnyPiggie · 09/10/2024 14:49

No, me too! Whereabouts in this OP?

Show quote history

Me too! £150k for a 4 bed!!

Twoshoesnewshoes · 09/10/2024 15:44

They would have paid the £5k difference in six months rent so it just doesn’t matter.
what does it have to do with anyone else?
congratulations to them!

Crikeyalmighty · 09/10/2024 15:52

Sounds like a bargain to me

Littletreefrog · 09/10/2024 16:36

Your DH sounds like my FIL. DH and I are apparently stupid for buying our home rather than getting a council house, we are stupid for buying a car from a car dealer and not buying it off ebay, we are stupid for having our dog neutered and not using it to have puppies to sell etc etc. And guess what? We don't speak to him anymore so your DH needs to be careful how he speaks to his son.

New posts on this thread. Refresh page