Highest bidder can't complete

Knave

Registered User
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I was the under-bidder on a house where the highest bidder has pulled out. The agent called me to give me a right of first refusal, and said that the vendor is willing to come down off the agreed price. This is because the first sale was agreed at significantly over the asking price (7%) and the bidding was between me and the purchaser who ultimately wasn't good for it.

My dilemma: I don't want the house going back on the market. It's buoyant in the area, and a neighbouring house has been sale agreed at a higher price. Do I make an offer that's above asking but below where sale was agreed last time, or go to my last bid (which was pipped by the ultimately unable purchaser)?


All thoughts welcome!
 
How do you know what price the neighbouring house was sale agreed at. I note that is sale agreed not sold.

Obviously it is a personal judgement but I suggest that you go with your original bid.

The vendor tried to sell at the higher price and that proved unsuccessful. I suspect they will accept your bid
 
Go back in with original bid and everyone will probably be happy to proceed.
If you want it then do it ASAP.
 
Hi Knave

If you are good for it, emphasise that you are good for it and make a final offer.

As a buyer you think that there are loads of competitors.

But the seller thinks that there are very few buyers who can actually complete.

Brendan
 
Thanks all. Our offer was accepted and we have since been gazumped. Very unpleasant.
 
Hang in there. This may not be over yet.

As for it being unpleasant, you cannot expect the sale/purchase of a house to be as straight forward as buying groceries.

Its a big deal for the seller too, they don't do this every day either and they need to get the best price they can
 
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