Aghhh - why do people bid if they can’t buy

kormacurry

I have just pulled out 2 days after winning a bidding war on a probate property. After viewing, I immediately offered the full asking price. The agent phoned me within hours, saying the vendor now wanted more, so I reluctantly upped the offer by £10k. It was accepted . The day after I provided proof of funds, I got a call from the agent (who to his credit had the decency to sound embarrased) saying that the vendor now wanted to strip out the (fitted) kitchen and sell it back to me, starting at £500 just for the decrepit old cooker.  I just blew up at that point and told the agent just what the vendor could do with his kitchen!

Redwino222

That is absolutely understandable - I would have done the same.

I pulled none of that nonsense.  People bid and counter bid:  if only one person had bid at asking price I would have accepted and not pushed them for more.

FtbDreaming

I have nothing constructive to add really other than my nan is due to complete on a house on Monday that she made the highest bid in the bidding war. It was about 4 months ago and through that time she has got buyers remorse and wanted to pull out as she thinks she’s paid over the odds as her bid was £14k over guide price. 

I have had to remind her that the house is in the area she wants, the size she needs and In comparison to other houses the same area she would need an extra £20k to have one that doesn’t need money spending on it. 

What I’m saying is because she was the highest bidder she genuinely feels she’s paying more than anybody else was willing to and nobody wants to do that hence why she’s debated pulling out several times. 

I’d probably remarket with a realistic asking price that you’re happy to accept and then go with the buyers that appear most genuinely interested in following it through. Xx

lookstraightahead

Yep I agree just market normally - you sound like a really decent person who just wants a fair deal. 

gettingtheresometime

In fairness, there's a house that has gone on sale near me for the millionth time as the owners seem to put it up for sale then decide to take it off again. Apparently, one prospective buyer was told to save their time & not bother viewing it as they've developed a reputation for doing this

Redwino222

gettingtheresometime said:

In fairness, there's a house that has gone on sale near me for the millionth time as the owners seem to put it up for sale then decide to take it off again. Apparently, one prospective buyer was told to save their time & not bother viewing it as they've developed a reputation for doing this

People should be black listed if they are time wasters - buyers and sellers!!!

Would never happen I know - but makes me feel better to say it😊

ChocolateBunny

I totally get where you’re coming from. We’re on buyer number 5!

Property was first put on market in August and since then has actually been actively marketed for only 15days as the rest of the time was SSTC or so we thought.

I totally understand it’s a big commitment and people do change their minds or have personal issues which arise, what annoys me is the silence and avoidance of a straight answer.  

Redwino222

So sorry chocolate bunny,  that is awful.  

GJB1954

ChocolateBunny said:

I totally get where you’re coming from. We’re on buyer number 5!

Property was first put on market in August and since then has actually been actively marketed for only 15days as the rest of the time was SSTC or so we thought.

I totally understand it’s a big commitment and people do change their minds or have personal issues which arise, what annoys me is the silence and avoidance of a straight answer.  

As I said in previous comment, we had three do this.
Perhaps maybe wrong. Someone We know has own EA business. Not large but independent. Spoke with his wife a short time ago. She walks past house to go to her mothers.
She had seen house going off and back on market.
She commentated that in past few years , since internet contact became more normal. People booking viewings , not turning up was becoming more noticeable. Also as in local area at that time within about 10 roads of the houses for sale, there were 8 different EA’s . So buyers can view , make offers . Choose the preferred one and ignore rest. Sometimes not being bothered about hassle they cause to other people. 

Crashy_Time

People view, get carried away and make silly offers, or they don`t want to offend a buyer straight off the bat, then their bank tells them they are not buying at that price? Just going to get more and more commonplace IMO.