Doubts after having offer accepted on a house

kayles94

GDB2222 said:

kayles94 said:

We viewed a house and put an offer in for the asking price. The same day the offer was accepted but I felt a sense of dread and so did my partner. We had since gotten over that, viewed the property a second time and loved it. Since then the house next door has been put on the market for less and I’ve started to have doubts. The house isn’t perfect and the third bedroom is so small that the space isn’t usable for a bedroom. The garden is also east facing which also isn’t really what we want. The house isn’t a forever home but could possibly be a long term home. We have spoken to the estate agents about why the other house is cheaper and it’s because they want a quick sale and it isn’t as nicely decorated as the one we put the offer in on. The venders aren’t willing to budge on the price and the house prices in the area are starting to drop. 

The estate agents are starting to put pressure on us to make a decision on if we want to proceed. The added stress of this and other things is starting to make me ill so a decision needs to be made soon. I don’t feel like I  love the house or the area but there’s nothing really wrong with it. I’ve created a pros and cons list but I still haven’t come to a decision. There are more cons than pros but I’m still reluctant to drop out. Part of me thinks I can find a better house next but the other part of me doesn’t want to drop out and regret it. 

Any advice on how to help me come to a decision?

So, the identical, next door house is available more cheaply. From sellers who are clearly more motivated to proceed. You haven't got at all far in the conveyancing process on the first house.

Of course, you should withdraw your offer on the first house and put an offer in on the second one.

The decorations are not worth worrying about, as most houses need redecorating after the old furniture has been moved out.

I can't say whether either of the houses is suitable for you. Mostly, house buying involves compromises, but the transaction costs are quite high, so you don't want to buy somewhere you won't be happy living in for a few years.

If you do buy the second house, you'll be living next door to the people in the first house, which could be a tad embarrassing. However, you have treated them fairly by asking whether they will lower their price, and they have refused. I really can't see that they have anything to complain about, if they insist on trying to get an excessive price for their house.

Yeah it was. We went to view it this evening and hated it! Didn’t get the same feeling as the one we put the offer on. Ultimately, I decided I didn’t want either and we’ll be withdrawing tomorrow. I shouldn’t be having this many doubts about a house and not knowing if I wanted it. Thanks for your help 

kayles94

andy444 said:

I think most people have slight doubts about whether they have successfully bid for the correct house or if a better place may be elsewhere. Buying a house is a big decision.

Go with your gut on whether you think it's the right thing or not. 

Thank you. I decided to withdraw 

kayles94

metalloz said:

I'm in the same position but 4 weeks in and have spent nearly £1.5k. After I put my offer in the property down the road had a further price reduction, which meant it was £50k cheaper. There were downsides to it though as it's a leasehold with what sounded like a flakey freeholder and it needed modernisation inside. The one I offered on is in near perfect condition and I like how it has been renovated.

I am waiting for the mortgage valuation to come back because they should hopefully pick up on whether I have made a terrible mistake...

Other than the price point, I am really happy with the decision because I have viewed about 20 properties over 4 months and this really stands out as my favourite. It does have an East facing garden but decided to compromise given I like all the other features.

Hopefully you made the right decision! We viewed the second house tonight and hated it. So we are going to withdraw from the first property 

Crashy_Time

Use PropertyLog to track price drops in your target area.

mooncake89

I think you've made the right decision. 

We had a similar experience, in that upon viewing a house we really liked it and put an offer in. But once we'd had it accepted we started to feel doubt creeping in. We went back to have another look, and decided later that day to withdraw our offer. We then felt so relieved as it just wasn't right the right house or location for us. 

You're always going to have some worries but if you're genuinely wondering if you should go ahead or not, I think they are some major alarm bells and should be listened to. We felt so bad for the vendor as we hadn't intended to mess anyone around but hoped that at least by making a decision quickly we'd minimised the hassle. 

When you do find the right one, you'll know. 

Good luck!

NameUnavailable

I've pulled out of a couple of places after having offers accepted. Both were great buys but I just had these doubts about whether they were right for me.

I'm currently proceeding on another place and even though there are some massive compromises on the property compared to what I ideally wanted, I'm just feeling excited about moving to this one.

Pro/Con lists etc are helpful but ultimately you need to go with your gut feeling.

Marvel1

Next door, would it cost as much to update it as paying for the one you put an offer in?

If you having doubts, then it's a drop out for me.

kayles94

mooncake89 said:

I think you've made the right decision. 

We had a similar experience, in that upon viewing a house we really liked it and put an offer in. But once we'd had it accepted we started to feel doubt creeping in. We went back to have another look, and decided later that day to withdraw our offer. We then felt so relieved as it just wasn't right the right house or location for us. 

You're always going to have some worries but if you're genuinely wondering if you should go ahead or not, I think they are some major alarm bells and should be listened to. We felt so bad for the vendor as we hadn't intended to mess anyone around but hoped that at least by making a decision quickly we'd minimised the hassle. 

When you do find the right one, you'll know. 

Good luck!

Yeah I think I’ve made the right one too. I’m dreading having to look at more houses because I hate doing it but I’m not going to buy a house just because of that. 

Yeah that’s exactly how I feel. This is the first day this week where I haven’t felt anxious, fed up and unwell. Happy you realised that it wasn’t for you too. 

Thank you! Good luck with your search too 

kayles94

Marvel1 said:

Next door, would it cost as much to update it as paying for the one you put an offer in?

If you having doubts, then it's a drop out for me.

From the photos we saw it would have been cheaper but having viewed it the finish was terrible so might have been about the same. However it would have been less work altogether. We withdrew our offer anyway so the search for the right house continues

kayles94

NameUnavailable said:

I've pulled out of a couple of places after having offers accepted. Both were great buys but I just had these doubts about whether they were right for me.

I'm currently proceeding on another place and even though there are some massive compromises on the property compared to what I ideally wanted, I'm just feeling excited about moving to this one.

Pro/Con lists etc are helpful but ultimately you need to go with your gut feeling.

Yeah that’s how I felt about this house. I feel bad for the sellers but it was better to pull out now than when we were about to exchange contracts. 

Congrats on finding a home that you like!

I went with my gut and feel 10x better for it