offer on house, choice of two....

Doozergirl

stolt wrote: »

Sorry to keep you in suspense, house and the vendors were a lot more welcoming this time around, felt we had a good long conversation
Wife is right the 5 bed house is a better size although needs a fair bit of doing up. - really hope they will accept 415k. The vendor said they had another viewing today so not sure whether they are telling the truth.
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Keep us updated!

stolt

what would the MSE's do in my shoes, put in an offer tomorrow as they will expect or wait a couple of days, put it in monday morning or afternoon. if it was the EA he would have took 405k so i dont think he will say these buyers are desperate they have more in them its more the vendors.

poppysarah

You could say (when the ea rings) you're making sure it's your very best offer so it'll be another 24 hours - but you will be putting a last and final offer in.

stolt

poppysarah wrote: »

You could say (when the ea rings) you're making sure it's your very best offer so it'll be another 24 hours - but you will be putting a last and final offer in.

thats a good suggestion, will go with that actually.

thankyou;)

poppysarah

Good luck!

stolt

thankyou, i need the might of MSE to wish this house to us.

protractor

Asking prices aside, the first property could be a 'can of worms' - builds NEVER go as planned, on schedule and on budget! Please bare this in mind.

As I see it, the owners of the first house have go back on their word by not being willing to break the chain - so don't feel bad if you do pull out of their sale.

If you do increase your offer on the second house - ensure you get something in return such as £220k subject to survey and exchange within 6 weeks with completion no later than X.

stolt

protractor wrote: »

Asking prices aside, the first property could be a 'can of worms' - builds NEVER go as planned, on schedule and on budget! Please bare this in mind.

As I see it, the owners of the first house have go back on their word by not being willing to break the chain - so don't feel bad if you do pull out of their sale.

If you do increase your offer on the second house - ensure you get something in return such as £220k subject to survey and exchange within 6 weeks with completion no later than X.

Thanks, i had a thread regarding the planning on that house and there were quite a few comments regarding what i would and wouldnt get away with.

My wife said the same thing about the 4 bed planning, the 5 bed is the house for us, i just need to get them vendors to agree to 415k.

Actually i think i'm going to offer 416k on tuesday.

I wish i could have it for 220k;), can you have stuff agreed such as 416k based on completion by such and such a date and if so how legal are they?

stolt

The_Law_Practice_UK wrote: »

Yes, although you have to remember that nothing is legally binding till exchange. Therefore, the onus would be on you to get to a position to exchnage as soon as possible.

Just make sure the agent puts any conditions on the Memo of Sale. The memo of sale is not legally binding but it does show you that the vendors are aware of the conditions of your offer inblack & white (Not that an agent wouldn't make all conditions clear to the vendor anyway :rolleyes:).

Also, if accepted make sure you're happy with your solicitor - younger, proactive firms tend to be better and avoid these 24/7 'Coveyancing Centres' at all costs (never dealt with one yet that was ever any good)

thanks for the advice i need to sort out the memo of sale then. I have real solicitors involved, abit ones form the internet but they do seem quite quick and responding to my emails etc even though i have told them to hold fire on everything until the vendors of the 4 bed house had found a house.

stolt

Just a quick update, estate agent called this morning and asked how the viewing went saturday. Told him it went well but i'm just waiting for the mortgage company to confirm the amout i need to borrow is ok. He has tried selling me the in house mortgage deals and reckons he can get me a 3.99% 5 year fixed deal!!!! hmmm I very much doubt it, well not unless there is a 3k fee involved. I did say that i reckon I could stretch to 415k and he said he don't think they would accept it and it was just his personal opinion before that they might accept 420k.

So at the moment the ball is in my court, not sure whether to call back in the afternoon and give them 418k, everybit saved helps go towards moving costs and stamp duty and all that.