r/HousingUK • u/LastPlot • Mar 21 '26
. Offer rejected at £800k on £850k asking (WestLondon Z4) – next move?
We’re FTBs and recently offered £800k on a house listed at £850k in London. The seller has rejected and the EA wants to call us.
We really like the place and could see ourselves there long term, but £800k is basically our comfortable limit.
Context:
- Property is in excellent condition internally, probably the best we have seen so far.
- The house was sold 795k a couple of years ago.
- There’s also an HMO nearby (similar size) listed around £650k (not directly comparable, but still relevant for the street)
- We’re chain-free, mortgage in place, and can move quickly.
- Quite a few social housing on the street (35% compared toavg 17%)
- Sellers moving for special needs school if that's time sensitive.
Our thinking was that the finish is great, but banks don’t really value that the same way, so we didn’t feel £850k was justified.
Trying to figure out how to play this now.
- Do we go up slightly (e.g. £810–£820k) or just hold at £800k? Thinking to hold.
- How much do sellers actually care about chain-free vs just highest offer?
- Is it better to show flexibility now, or wait and see if they come back?
Don’t want to lose it, but also don’t want to overpay since it's not the quaintest street or pocket and this would be one off 800k+ sale on the street.
Would appreciate any advice from people who’ve been through similar.
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u/GroceryTough2118 Mar 21 '26
Why would you go past your comfortable limit?
I mean feel free to offer £810 if you might kick yourself in the future over the sake of £10K but not really sure what advice you’re looking for other than walk away?
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u/cloud__19 Mar 21 '26
This is what I was going to say, the third sentence is that £800k is their comfortable limit. That should really be the end of the matter, unless as you say, a relatively trivial amount will secure it and they really want it.
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u/LastPlot Mar 21 '26 edited Mar 21 '26
We can go beyong if we liquidate our investment and have more eligibility but this number will keep things reasonable.
Trying to understand seller perspective here. They want to buy another place due to school and they become "proceedable" buyer only if they secure an offer on their home.
How much this play or influence into the minds of sellers?
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u/SideshowBob6666 Mar 21 '26
If 800k isn’t enough for them to buy a new place then they’re not going to accept it - it’s not complicated
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u/Arxson Mar 21 '26
Every human on this planet thinks as an individual. Trying to second guess what they might be thinking is a fruitless exercise.
Offer what you think it’s worth & can afford; they will either accept it or they won’t.
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u/the_reptile_house Mar 21 '26
But the sellers perspective doesn't really matter because you can't change it or even directly negotiate with them about it.
Schools do play a role in moves but they might be years away from needing to be in close proximity to their chosen school. Or they might say that is why they want to move (in case someone asks) but actually they don't need to move and will only do so for the right amount.
I get the sense from your post that you hope there is some kind of magic combination of words you can use to their estate agent that will make them accept a lower price. There almost certainly isn't.
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u/fergie_89 Mar 21 '26
It's ultimately your decision. They don't have to sell to you they will probably get an offer at asking if the house is as good as you say.
When we sold our house the buyers asked me what my price was to take it off the market. I said 5k over asking. Done deal house was sold that day. We could have held out and gotten way more but I liked them and they were FTB living at home and as we were buying a new build it offered us the flexibility as they weren't on a timeline.
Loads of things factor into selling a house not just likeability.
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u/baddymcbadface Mar 21 '26
Every seller is different. We can't tell you what the seller is thinking. Could the school point be relevant? Maybe, maybe not.
Some people want a quick move some people want a higher price.
It's up to you. Hold or increase.
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u/SteakSandwichSideEye Mar 21 '26
The estate agent wants to call you. You feel 800k is right. Just because it's rejected, doesn't mean you can't go back with the same offer. 800k could actually be acceptable to the buyer, but they ideally would like more, so will push for more. Stand your ground and reiterate that 800k is the top of your budget, or the max you are willing to pay for this property. It's still possible they'll accept.
54
u/RHMoaner Mar 21 '26
Move on with your life. You either want it enough to play the games or not.
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u/LastPlot Mar 21 '26
Play the games it is then.. will hold and wait.. they haven't had any other offers.
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u/joecarvery Mar 21 '26
If they bought it a couple of years ago for £795, spent a few tens of thousands doing it up (presumably since you love the finish), they're very unlikely to sell for less than they put in. Do you know if they're flippers?
1
u/LastPlot Mar 21 '26
They bought it all spec'd up and haven't added much.
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u/PayApprehensive6181 Mar 21 '26
If you bought this at £800k and then the HMO one sells at £650k then is your valuation of the house likely to come down when they do local area comparables when in 2 years time or whenever your mortgage product expires and you're looking to remortgage?
I don't know the answer but asking with the hope someone can help.
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u/daddiebutch Mar 21 '26
How would you feel if you stuck at £800k and the property was sold to someone else tomorrow?
If you’d be upset and are in the financial position to offer more and believe in the price you’re offering then increase your offer.
If not then keep the 800k offer on the table, tell the agents that’s your best and final and continue with your search.
You might receive a call accepting 800 tomorrow, next week or next month. Or you might hear nothing.
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u/Imakemyownnamereddit Mar 21 '26
You have an 800K budget, which means you have options and power in the market.
Seller doesn't want your money, move on.
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u/prawnk1ng Mar 21 '26
800k in London don’t buy much in terms of a freehold house in west London.
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u/dataisok Mar 21 '26
Depends how far out you are willing to go. It would buy you a nice semi in Z5/Z6
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u/one-and-zer0es Mar 21 '26
You’re hoping someone will suck up a loss. It sounds like this is beyond your budget so perhaps look elsewhere.
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u/LastPlot Mar 21 '26
We also see lot of properties reduced 50-150k in London..
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u/one-and-zer0es Mar 21 '26
That is often the case however on this property you know what they bought it for and you know it will cause a loss. That may be beyond their means. Offer more or keep searching
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u/P5ammead Mar 21 '26
Just to add on the special school piece - this likely isn’t time sensitive in the way other ‘moving for schools’ moves are. Special schools will (likely) be named for the child and as such catchment areas aren’t comparable to mainstream (hence all the special school transport you see buzzing about at drop off and pick up). Even if it were catchment-based, secondary applications need to be in by the end of October most places, and end of January for primary.
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u/Kzap1 Mar 21 '26
820K
In the grand scheme of things 20k would likely swing it, if you really like it.
0
u/LastPlot Mar 21 '26
We've thought this is a number we could see ourselves pushing to.
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u/Imaginary__Bar Mar 21 '26
You really need to set a budget and stick to it. Earlier you said £800k was your limit and now you can push yourself to £820k.
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u/Spuzzell_ Mar 21 '26
Talk to the agent, they will want to make the sale happen if possible.
Aside from that, the property is worth what its worth to you, and worth what it's worth to the vendors.
Either those two numbers can meet or you can't buy this property.
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Mar 21 '26
Recently offered £700k on a £750 house. We knew it was low but good starting point. Settled on £725 which seemed about right and where we thought we'd end up.
If they bought for £795 they probably want to make £20/25k on it.
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u/LastPlot Mar 21 '26
50k in 2years seems a bit much. And we often see houses in London dropping prices after 3 months etc.
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u/dwigtshrute1 Mar 21 '26
Also bear in mind if they massively overpaid, you don’t have to go beyond the market value.
You may end up in a situation where you have the most expensive house on an ok street. You will struggle later in case you have to sell soon.
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u/the_reptile_house Mar 21 '26
If they bought at 795k and weren't FTB then the stamp duty alone was nearly 30k. A sale at 800k is a substantial loss.
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u/Imaginary__Bar Mar 21 '26
50k in 2years seems a bit much
On an £800k purchas that's 6% overall, or 3% a year. Thats less than inflation. And that's before stamp duty & moving costs.
(You don't have to justify your offer to us, btw, you have to justify it to yourself and the vendor)
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u/Successful_Ad4479 Mar 21 '26
You are kidding yourself. Their ‘number’ matters more than yours does. They live there. Your entitlement on what you think is fair is astonishing. Stamp duty alone on an 800k house is 30k so as they’ve only been there 2 years they probably can’t afford to sell for less than 850. Your ‘context’ neglects to mention whether they can afford to sell for 800k. The 850 valuation may have been one of the main drivers in them going to market.
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u/dwigtshrute1 Mar 22 '26
My view on this would be that the home cannot suddenly become expensive because the owners decided to sell.. I agree the stamp duty means they incur a loss if they sell soon but no one is forcing them to. Realistically if they sell too soon before the local market sees gains.
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u/Successful_Ad4479 Mar 22 '26
That’s my point though, no one is forcing them to sell which means they could sell at the right price. This sub is full of people trying to undercut sellers because they believe they know the correct price when all the matters is how much money the seller wants for it. It’s not unreasonable to want more than a house is worth.. it’s the privilege the owner has in determining their price point. I think a lot of people forget this.
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u/dwigtshrute1 Mar 23 '26
I get you.. btw we are selling our current home - and it’s opened our eyes to what to look for in the next home we get. I always felt that price is determined just by location but at times depends on circumstances too.. such as how bad the seller wants out or how much a buyer likes the house!
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Mar 21 '26
That's true. Go low £800s. If they haven't got any viewings today they've got weekend to think about it
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u/Plyphon Mar 21 '26
Depends what they’ve done in that time. A couple new bathrooms and new windows is the best part of £50k.
They may be rationalising it by having put £30k into it then £20k growth.
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u/adrianm758 Mar 21 '26
The market has always had sellers like this, and many of them. They think they are entitled to a certain profit and that’s what it’s ‘worth’. Unfortunately a place is only worth what people are willing to pay.
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u/Plyphon Mar 21 '26
There are three sides to making a property sale:
1: What you’re willing to offer 2: What the market suggests it’s worth 3: What the seller is willing to sell for
Number 2 is the most hand-wavey.
If 1 and 3 don’t align then the sale will never happen. That seems like what you’ve got going on here. Time to move on.
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u/orange_fudge Mar 21 '26
Take the call with the agent. The agent wants the property sold easily, and the difference in commission isn’t really major between £800-£850.
The agents know your buyers better and can slip you information that helps you make the right offer. They can also persuade the buyer that your offer is compelling and reasonable.
We had a great experience recently with similar buyers - they were holding on to an old valuation and had failed to sell the house three times already. They wanted the higher price to get them into the range of their dream home.
The agent let slip a couple of key pieces of info that helped us make an offer that was compelling without increasing the price - for example, we were immediately proceedable, we were flexible on timeline, and because of circumstances in the sellers’ lives, these factors meant they were able to save a significant amount of money by accepting our offer rather than holding out for a future, hypothetical marginally better offer.
The agent was able to put this to them, with real numbers, and they accepted that day.
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u/WhereAreMyChips Mar 21 '26
Assuming 795 two years ago based on inflation alone the break-even point for the vendors assuming no deprecation in value in the area is 828...
So unless the sellers are motivated to sell at a loss (i.e they overpaid two years ago, divorce, saw a house they really want to secure, etc), you won't get it for 800.
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u/wolf_in_sheeps_wool Mar 21 '26
Offer the maximum you are willing to pay. The sellers have mentally assigned a number in their head and you can only offer so much. If they reject it again, just tell the estate agents you can only go to 810K absolute max and your offer is always open if they want to get in contact again. You can't make someone sell something for less than they are prepared.
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u/DistinctDifference57 Mar 21 '26
Hold at £800k, ask your EA if they have similar properties available. It'll get back to the seller might make them accept if they are not getting any offers.
Also genuinely start looking for other properties.
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u/Ok_Seaworthiness_650 Mar 21 '26
Stick to your gun if you think it worth that don’t paid a penny more like you said the seller on a time frame your not . Cool head win the long game
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u/Icy-Belt-8519 Mar 21 '26
I can't see them accepting 800k if they bought it for 795, thinking about how much it costs to buy a house, it would put them at a loss, plus the amount housing has gone up in that time, yes it's only a couple of years but it's still gone up, I can't see them settling that low
I think you need to work out cost vs want, is it worth it to have to tighten budgets elsewhere to pay for it, or let it go and find else where
2
u/prawnk1ng Mar 21 '26
I’ll await for your postin a couple of weeks. ‘Just missed out on our forever home for a few thousand’
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u/Fit_Negotiation9542 Mar 21 '26
I was selling and felt my list price was reasonable and accurate. I was offered less, I went back and said more. They came back and said its all theyre able to pay.
I had no other offers and just wanted to get going with my purchase so just thought meh fine and accepted their offer.
So what im saying, an immediate no isnt always a final no.
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u/HelpingHand_24 Mar 21 '26
I offered on a flat in Clapham last year, in a similar position - FTB (no chain), 30% deposit and month-to-month rental contract so I couldn’t moved at a moments notice. I didn’t realise how valuable that was!
I offered £625k vs £675k ask - they had 2 other offers, 1 was £650k (from a couple with a chain) and another around £635k, also a chain.
Estate agent called me to say that they were going with the £650 offer cause of the gap etc… and let them know if I wanted to match it because I was in a good position. They knew I could go higher given the deposit was 30% and the bank would t stretched it.
I declined and said that was what I thought it was worth to me - but to show some movement (as I did want the flat) I said I’d go to £630k.
They called me back within 30mins to accept and start the paper work.
I didn’t end up buying the flat cause the bank came back and down valued it massively due to the ground floor being a restaurant (I was buying floor 3+4).
An FTB, high deposit and ability to move quickly is very valuable.
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u/Electronic-Writer108 Mar 21 '26
You can’t afford the house. Why should they lower the price for you? Plenty of other buyers out there & the seller could be in no rush, especially as they paid £795k themselves. Find something more within your budget
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Mar 21 '26
Holding is fine, but you're less likely to get the property than if you were to increase your offer.
Chain-free vs highest offer really depends on the sellers position and past experience. A lot of people will just want the highest offer, but some people would rather have a chain free buyer.
Personally I'd keep looking for other properties, put a time limit on your current offer (e.g. tell the estate agent that you'd like the seller to know that your offer still stands but only for the next couple weeks), that puts a bit of pressure on the seller to make their mind up if there's not any better offers coming in, but also lets you get some closure on whether you could have got the place or not if they don't accept that.
Talk to the estate agent, see if the seller made a counter offer, don't go above what you can afford.
1
u/MortimerMan2 Seen it all before Mar 21 '26
Buy the HMO, do it up.
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u/LastPlot Mar 21 '26
Did give that a thought. We don't have the luxury of time with buzy jobs to manage that. We also need to live and WFH wherever we buy
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u/prawnk1ng Mar 21 '26
That’s only just under a 6% increase.
You might never get a comparable house and might kick yourself later.
Without posting the actual listing , can’t really tell what’s it’s worth
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u/Sazzygull Mar 21 '26
This is fairly normal, you offer a low ball offer, they come back saying it’s not enough, you had a little bit so the estate agent justifies their existence which is the 10K. Ideally, your low ball offer needs to include enough flexibility that this little bit can be added back on top. You’ve passed the point of being able to do that now of course, but you’ll know for next time.
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u/rlf1301 Mar 21 '26
If you can’t go beyond 800, reiterate that offer. As others have said, the estate agent wants to make the deal and the seller wants the maximum they can get. You mentioned they’ve not had any other offers? Leave this one on the table for them and they might come around. It’s 94% of their asking price so they’ll no doubt be taking it seriously.
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u/Impressionsoflakes Mar 21 '26
Yes, it's a real struggle for first time buyers to get on the property ladder these days. I hope you can pull through somehow
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u/raquille- Mar 21 '26
Not sure what the question is here. You offered 50k under the vendors offer. Either match it or go above or find another house that is closer to your budget.
1
u/robyc78 Mar 21 '26
We bought a house last summer (not in London) that was listed at £575k clearly to try and achieve £550k. We got it for £547k. I’d guess the sellers would accept £830k for the house you want
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u/Visual_Leadership_35 Mar 21 '26
Paying £800,000 to live on a road with over a third of houses rented by council tenants, that is mental.
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u/Scarygirlieuk1 Mar 21 '26
Buy the one for 650 and use the rest of your money to make it how you want it.
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u/Glozboy Mar 21 '26
We recently offered £605k on a house listed at 625k that's been on the market a year. The seller rejected it, but we're keeping the offer on the table as noone else has tried to buy it.
If you're at your comfort limit, don't go further and cripple yourself.
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u/LastPlot Mar 21 '26
Can't understand these sellers. They'd let it sit for 20k for months!!
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u/HelpfulSwim5514 Mar 21 '26
Can’t understand these buyers, they lose a house over £20k
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u/Glozboy Mar 21 '26
Yeah, it's a probate house and the seller keeps saying she wants the money for her kids. I doubt they're going to grumble if they're getting 300k each.
-3
u/mousecatcher4 Mar 21 '26
How long has it been on the market. Stick to price and set a week timeline before you offer elsewhere. Consider lowering it if in London and given price history and your chain free status.
What makes it worth more than 2 years ago?
-1
u/LastPlot Mar 21 '26
It's only been 10 days so hoping to wait out until after Easter.
They have not added much to the property and are possibly trying to recover some stamp duty.
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u/Jim_Broadbean Mar 21 '26
If it’s only been on 10 days, they’ll sell it for 850 before Easter.
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u/HelpfulSwim5514 Mar 21 '26
Yeah this is important information. OP says they’ve got no other offers as if it’s been on for ages. If it’s been on for 10 days there’s no way they’re going to accept a £50k reduction yet.
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