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I offered too much for a house. What now?
Comments
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Are you in England or Scotland as I believe if your in Scotland then when you put an offer in and it's accepted then you can't back out?0
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Biggest mistake you made is believing the words that left the agents mouth! Sounds like you been played0
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It doesn't really matter who you blame since the vendors aren't going to give you £100k off just because you've changed your mind. Trying to make out it's the agent's fault just means that you'll well and truly burn your bridges with that agency and have no chance of buying another property through them.
We all make mistakes; just make sure that you withdraw from the purchase ASAP for the vendor's sake.0 -
I suspect the seller will be hopeful for a long time to come
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fools and their money.....Never, under any circumstances, take a sleeping pill and a laxative on the same night.0
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That was 40k over the asking price, but the agent told me there was lots of interest and a couple of other offers over asking that had been declined.
Why would a seller decline an offer that is over its asking price? Seems daft to me. Whats the point of setting an asking price if your going to decline offers in or around it?0 -
hoponhiggo wrote: »Why would a seller decline an offer that is over its asking price? Seems daft to me. Whats the point of setting an asking price if your going to decline offers in or around it?
Because there were multiple offers in that range... Can push prices way above the agent's guestimate, which is all it is, after all.
However, in this case, it looks like the agent may have been pushing too hard, and the O.P. may have over extended himself, so it's possible some of the others have as well. Bad news all round, for vendor and potential purchasers.0 -
hoponhiggo wrote: »Why would a seller decline an offer that is over its asking price? Seems daft to me. Whats the point of setting an asking price if your going to decline offers in or around it?
presumably if you have 2 or more people bidding for your house, you'd be daft to accept an offer before you know you've maxed out the bidding...?0 -
Even in Scotland (if the OP is there of course) you can pull out before the conclusion of the missives.0
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