Seller of property wishes to accept offer lower than mine despite me being £10k over asking price?

Hi guys, I’m a first time home buyer from the UK who finally made a serious offer to an estate agent for a property on the top of my shortlist. The house was listed at £400,000 and I made an offer matching that which the seller rebuffed. I was also told that there was another mystery buyer who had matched that offer, so in fear that I may lose out I increased my offer by a few thousand pounds to now take it above the asking price.

After once again being turned away, I decided to play all my cards and offered £10,000 above the asking price. I got a call back from the estate agent a day later that the seller intended to accept the offer of my competitor, who hadn’t budged their offer from the initial asking price to my knowledge! FYI, we are a young family and completely chain free, so this wouldn’t have impacted such a decision. Is there something I’m missing here?

I am a newcomer to real estate so I’m not too sure why this has happened so insight from someone with experience in this would be much appreciated. Thank you!

submitted by /u/MrDNA007
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Hi guys, I’m a first time home buyer from the UK who finally made a serious offer to an estate agent for a property on the top of my shortlist. The house was listed at £400,000 and I made an offer matching that which the seller rebuffed. I was also told that there was another mystery buyer who had matched that offer, so in fear that I may lose out I increased my offer by a few thousand pounds to now take it above the asking price. After once again being turned away, I decided to play all my cards and offered £10,000 above the asking price. I got a call back from the estate agent a day later that the seller intended to accept the offer of my competitor, who hadn’t budged their offer from the initial asking price to my knowledge! FYI, we are a young family and completely chain free, so this wouldn’t have impacted such a decision. Is there something I’m missing here? I am a newcomer to real estate so I’m not too sure why this has happened so insight from someone with experience in this would be much appreciated. Thank you! submitted by /u/MrDNA007 [link] [comments]

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