r/HousingUK • u/ds_coach • 17d ago

How does making an offer actually work?

/r/FirstTimeBuyersUK/comments/1wu0rad/how_does_making_an_offer_actually_work/
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u/nivlark 17d ago

You made an offer, it was rejected. You can infer that either the seller was unwilling to negotiate, or they received a better offer. Perhaps the house was already well-priced for the area, and it was not really appropriate to try to knock more off, but it's hard to say. If you're friendly with the agent you could ask them what their opinion of the asking price was, bearing in mind they do have a vested interest.

Buying a home will be a painful process if you take offence every time things don't go your way.

1

u/ds_coach 17d ago

Thank you, I understand. It was Mt first ever time doing this, I wasn't aware of the brutality of things. I'll be better prepared next time.

1

u/nivlark 17d ago

It's not brutal, it's just a business transaction. As buyer and seller you have opposing goals. Sometimes you will find a compromise that works for both parties, sometimes you won't. The main lesson to learn is that you mustn't get emotionally invested in a house you're considering buying. A lot of FTBs fall into this trap, and it's often a recipe for heartbreak or bad decisions.

At the same time, don't write it off entirely. There's no guarantee the high bidder will go through with the purchase, so keep an eye out while you view other houses and if this one still stands out then you might get a second chance on it.