Changed mind on putting offer on house

KS1977

Hi was wondering what people think I should do. Looked on here for similar things but it's taking ages so I've started a thread hoping someone can help.

I put in an offer on a house and it was rejected. The EA rang the next day and said the vendor was accepting an offer from someone else and gave me the opportunity to put a higher offer if I wanted. At that time, I wasn't willing to go to the higher offer. Obviously the house is now SSTC. After chatting with the other half, we have decided after looking at finances that we could match the offer of the other people. My question is can I ring back and say that I can match the offer or put a little bit more in, now that it has the sold board outside the house? Am I allowed to do that or is it too late?

Any advice would be greatly appreciated, thank you:)

PasturesNew

You can do that .... but what if it's accepted?

The person currently buying will have spent money on searches/survey/mortgage application by now.

What's to stop him coming back in 3 weeks' time when you've spent out £1000 and doing the same to you?

Of course your higher offer might not be accepted anyway .... but is it worth the stress/hassle/upset that might be ahead if it is?

mufi

You can put in a counter offer at any time prior to exchange of contracts. Just be cautious about getting carried away, entering into a bidding war, and paying more than it's worth or you can afford.

Good luck.

Sammy85_2

You can do that if you want, but think about how you would feel if someone came along and did that to you once you'd started the legal side of the purchase, they may have already spent money and its really not a very nice thing to do to someone.

KS1977

Yes I was thinking that Sammy85. I don't think I would feel right doing it actually. I wouldn't like it done to me. Thank you for your feedback. It was obviously not meant to be for us, otherwise we would be going ahead with a sale by now.

Thank you