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I think we’ll be negotiating a discount when the negotiations open up again.
I guess you didn't get far enough along to have surveys done etc.
Delicate situation and you'd need to be prepared to accept 'do you want the place or not?' as the response, and then if you proceed the vibes will be bad.
In your situation I would quit the purchase, apologise and re-start the search - at least then you can get the full effect of whatever condition the market is in. You might not win, but at least you weren't trying to have your cake and eat it.
Howard-
No, no surveys or anything, we’ve only had the offer accepted and not gone beyond that because the seller was being really slow about looking for her next house.
My fiancé has seen an equivalently nice property that just came on the market so we do have some other options. It’s much cheaper but in a less good location (we’d really like to stay in the village but could just about stomach moving to the nearby town) but it’s a viable backup.
I guess whatever happens we’ll have to tread lightly.
ewanmac
Rubbish situation if you are a seller.
We got an offer accepted in March, but I think we were paying over the odds (the estate agents were proper pushy twats and listed it 20k over an identical property down the road) and they had us over a barrel because our landlords were threatening to kick us out in June forcing us to go right to our very limit.
Obviously the world is now completely different, the landlords are no longer putting pressure on us (this year at least) and prices are likely to be lower. I think we’ll be negotiating a discount when the negotiations open up again.