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  • FIRST POST
    • strawberries1
    • By strawberries1 3rd Mar 17, 10:42 AM
    • 551Posts
    • 118Thanks
    strawberries1
    Put In Offer Today Or Wait Till Monday?
    • #1
    • 3rd Mar 17, 10:42 AM
    Put In Offer Today Or Wait Till Monday? 3rd Mar 17 at 10:42 AM
    Hello good people of MSE land!

    I saw a property on Wednesday which I liked and will like to put in an offer.

    Viewings are being held tomorrow Saturday. Should I put in my offer now or wait till Monday?

    The property first came on the market almost a year ago for X amount £25k more than currently advertised. Buyer then changed her mind.

    It came back on the market 7months ago at £10k more than currently advertised. The buyer pulled out cos her mortgage doesn't accept indemnity insurance which was required.

    In essence it's been reduced by £15k and then £10k. (4.8 and 3.3%)

    However, I'm looking to offer £20k under the asking price though it says offers over.

    I'm a FTB so I can move at their pace. It's a couple who've split; one will move in with parents and the other has found a place to buy.

    Thank you.
Page 2
    • AnotherJoe
    • By AnotherJoe 6th Mar 17, 5:36 PM
    • 6,034 Posts
    • 6,338 Thanks
    AnotherJoe
    Thank you. I've decided no matter what he says I'm not increasing my offer and I won't ring to chase them.
    Originally posted by strawberries1
    If they come back to you and say you've been outbid, let them know that was your best and final, but also put forward your advantages - FTB, mortgage arranged, can be flexible about moving dates. The vendor may not go with the highest bid.
    • strawberries1
    • By strawberries1 7th Mar 17, 11:30 AM
    • 551 Posts
    • 118 Thanks
    strawberries1
    Thank you! Heartbroken!!!

    Declined and they've received an offer a little over asking price of "offers over £X".

    I should please let them know if I wish to increase my offer.
    • AnotherJoe
    • By AnotherJoe 7th Mar 17, 12:37 PM
    • 6,034 Posts
    • 6,338 Thanks
    AnotherJoe
    Thank you! Heartbroken!!!

    Declined and they've received an offer a little over asking price of "offers over £X".

    I should please let them know if I wish to increase my offer.
    Originally posted by strawberries1
    As I recall you've offered your maximum, so as I previously suggested, remind them of your advantages regards flexibility, and leave it at that.
    • strawberries1
    • By strawberries1 15th Mar 17, 4:43 PM
    • 551 Posts
    • 118 Thanks
    strawberries1
    I've got a jolly good update people!!!

    The buyers pulled out!
    I'd told the agent to let me know if the sale falls through and waduyaknow? Silly me I said I'll match what was accepted and now we have lift off!!

    Please recommend a site to compare mortgages and solicitors.

    I'm a FTB and been trying to get my foot on that ladder having paid rent for 11years!! My eyes water when I think about how much I've spent!!
    • glasgowdan
    • By glasgowdan 15th Mar 17, 4:54 PM
    • 2,115 Posts
    • 2,301 Thanks
    glasgowdan
    Get your home report and hammer down your offer a few k!!! Good luck though, first home ownership is so exciting!
    • amateur house
    • By amateur house 15th Mar 17, 7:47 PM
    • 154 Posts
    • 133 Thanks
    amateur house
    Good news

    There's a link to a mortgage rate comparison tool on the main page of this site.
    And you can get quotes for conveyancing from the 'really moving' site.
    • anto164
    • By anto164 15th Mar 17, 8:00 PM
    • 80 Posts
    • 41 Thanks
    anto164
    Or, go see a broker, one that doesn't charge for their services. They may be able to find yourself a better deal than you may.

    In relation to a solicitor, have a little search around your local area and find one that does fixed price service. You should be able to find a decent solicitor for the £750 mark.
    • strawberries1
    • By strawberries1 16th Mar 17, 12:41 AM
    • 551 Posts
    • 118 Thanks
    strawberries1
    Thanks ever so much!
    I feel more responsible already!
    I'm using the MSE recommended broker but they're telephone based. Is that ok? I'll send my docs later today.

    What're your toughts re fixing and term in these times of uncertainty?
    Will you do a tracker or fixed? Why?
    2yrs or 5yrs? Why?

    Thanks again.
    • Niv
    • By Niv 16th Mar 17, 8:53 AM
    • 1,416 Posts
    • 1,223 Thanks
    Niv
    Thanks ever so much!
    I feel more responsible already!
    I'm using the MSE recommended broker but they're telephone based. Is that ok? I'll send my docs later today.

    What're your toughts re fixing and term in these times of uncertainty?
    Will you do a tracker or fixed? Why?
    2yrs or 5yrs? Why?

    Thanks again.
    Originally posted by strawberries1

    Personally I believe interest rates are only going one way so I recently went fixed for 5 years. This way no shocks, and I know how much the mortgage will be allowing me to budget more accurately.
    YNWA

    Mortgage free by 58.
    • anto164
    • By anto164 16th Mar 17, 11:29 AM
    • 80 Posts
    • 41 Thanks
    anto164
    We did a 3 year fix when we bought our first property as it allows us to get the house straight, our lives straight with some understanding that our mortgage payments won't change for 3 years, and it was a whole lot easier knowing how much money we will have spare going forwards.

    5 years fix you'll pay a little more, 2 years fix a little less, but it's totally up to you. It's hard to predict what is to happen in the future, but i would say that interest rates can't really get much lower currently and the only way is up.

    Tracker may be the cheapest (for now), but if it's your first property and for ease of budgeting, go for a fix. that means no shocks in X months time.
    • strawberries1
    • By strawberries1 16th Mar 17, 2:35 PM
    • 551 Posts
    • 118 Thanks
    strawberries1
    Thank you!
    I would like to fix for 5years too but the MA said 2 was best based as it's my first property. Ironically the mortgage payment is cheaper than any rent I've ever paid!
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