Making an offer - it was rejected. House is 20% than sold prices close by

Housebuy12345

I made an offer, it was accepted and I get a call later saying they had a higher offer. Wounded

DoaM

Housebuy12345 wrote: »

I made an offer, it was accepted and I get a call later saying they had a higher offer. Wounded

"OK Mr. EA - thanks for letting me know. I hope your client has a successful sale with that other bidder."

If you're prepared to walk away, try that - you never know, the better offer might suddenly get withdrawn.

Albala

Housebuy12345 wrote: »

I made an offer, it was accepted and I get a call later saying they had a higher offer. Wounded

So it was worth more to someone else than to you, I suppose. I'm sorry you didn't get it, it's miserable to be outbid (I know) but if other people think it is worth more than you do, and are able to pay more, then there is little you can do.
Comparing an asking price with similar houses' sold prices is always tricky, as there can always be special circs, like, as a poster above mentioned, a seller needing to sell quickly. And a house on the market for a while can mean that an offer which was one of many asking price offers fell through at a late stage, not that there hasn't been any interest.
We offered (and were accepted) on one (well under asking) that had been for sale for over two years and had a big price fall in the period. It turned out that previous offers had been made at asking, but they had all fallen through for factors nothing to do with the house itself. There can be all sorts of things going on.....and agents tend not to be forthcoming about such matters.
Hopefully you will find something else that fits the bill for you.

Housebuy12345

@Doam I might get someone to call tomorrow and ask to view. And I also might call with the asking price, plus a bit extra.

Or I could f-ing walk away lol.

Housebuy12345

I offered the asking price but I don’t think it’s worth that much

AdrianC

Housebuy12345 wrote: »

I offered the asking price but I don’t think it’s worth that much

So, umm, why did you offer it?

Housebuy12345

I don’t think petrol is worth the price it’s sold out, but my alternatives aren’t ideal.

I don’t think it’s worth that much purely because the other houses sold for less - and yes it’s 6 months ago but what’s happened in the meantime.

Perhaps there is something wrong with the lease and it needs to be extended. I don’t know.

bassking

I know this is no use in hindsight, but there is a great app for rightmove called 'property log' ... Most areas that I'm searching are showing drops in prices for the vast majority of properties. The property you mention has only been on the market since April 10th. Estate agents work for the seller and they'll try to get the highest price, be careful out there and good luck!

Housebuy12345

Most houses seem to sell within two weeks in the areas im looking. And yes I was looking on RightMove