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The FTB club

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Comments

  • dottiepeas
    dottiepeas Posts: 147 Forumite
    Hello,

    FTB here too!...my and hubby and little toddler are looking for our first home. We have been renting houses/flats since we graduated from uni in 2001. We have just put in an offer for a 3 bed semi in Oxford for 200k (asking for 224k) I used zoopla to check the estimated price of the house in current climate and it gave a figure of under £190k. Looking on that site makes me feel like I'm getting ripped off and that the EA/vendor are over pricing it!....but I know zoopla does not accurate figures and depends on the house and location.

    Anyway!...from reading many of the posts, going in on a lower offer seems to be the norm?....and some people seem to be getting really big reductions off their house price! I think Oxford is probably one of those areas which hold their value abu more (maybe?..).....but fingers crossed, I will hear from the EA today!
  • dottiepeas
    dottiepeas Posts: 147 Forumite
    Well, EA just called back and the offer of 200k is not enough. (Asking for 224k)
    Really not sure what to do....can afford to go alittle higher, but it just doesn't seem the house is worth all that money!!! Must try and convince ourselves there are other houses that will come along!!......

    or...maybe we can offer 208k?....Ah!...I wish there wasn't a middleman sometimes!!!
  • MsConfused
    MsConfused Posts: 63 Forumite
    I know the feeling dottiepeas. Our offer was rejected too which we expected. Going to talk about it and make a new offer tomorrow. So tricky though. :confused:
  • dottiepeas
    dottiepeas Posts: 147 Forumite
    Hello MsConfused! Great to hear someone else is in the same boat!! We also knew (in our hearts!) that the first offer would be turned down! (Wishful thinking I guess!)........but they say theres no harm in asking!! All they can say is no! heehee! It's really tricky, because I know that similar houses in the same area will crop up at some point, and we don't want to pay over the odds for the house, especially when they say house prices are still falling!

    Have you seen other houses you like in your area?...or is this house "THE ONE" if you know what I mean!?....
  • dottiepeas
    dottiepeas Posts: 147 Forumite
    Oh and it is quite annoying that the EA says you MUST talk to their mortgage guy, (even though you have one in principle!) I have a feeling they just want to check the maximum amount you can borrow!...so that they try and make you up your offer!

    Maybe it's just me!.......but from recent experience of dealing/talking to EAs, I find that I can't trust fully what they tell me!! I have no idea that the EA has actually passed on my offer to the seller....they could just be telling me that the seller said no!..when the seller probably has no idea of the offers being made!....and then wait for me to increase more and more!! I know this is a bad view of the agent....but I just can't help feeling that they're out to sting us for as much as we can borrow!!! heehee!
  • MsConfused
    MsConfused Posts: 63 Forumite
    This is the one we like best, but we never really got that "the one" feeling mainly because its a 2bed and we wanted a 3bed (I work from home so one room would have to be a work study). Otherwise, it is ideal. There is one more we like that's on at 15k less and much bigger, but in a less desirable area. As you say, it's trying to get the balance right - everyone keeps saying its a buyers market but who knows how much further prices will drop (despite the estate agents telling us they're not going to drop now - this was when we first started looking at the start of the year). We don't want to pay over the odds, yet are keen to get a home and get settled, and this place is lovely.

    I think tomorrow we'll go in 4k over our original offer and hope for the best. I think if you leave a bit of time it makes it look like you are seriously considering your options - but can't leave it more than a day as I'm too nervous/excited/freaked out! lol

    Good luck with your second offer. I think your offer of 208k sounds very reasonable.
  • Wickedkitten
    Wickedkitten Posts: 1,868 Forumite
    Part of the Furniture Combo Breaker
    dottiepeas wrote: »
    Oh and it is quite annoying that the EA says you MUST talk to their mortgage guy, (even though you have one in principle!) I have a feeling they just want to check the maximum amount you can borrow!...so that they try and make you up your offer!

    Maybe it's just me!.......but from recent experience of dealing/talking to EAs, I find that I can't trust fully what they tell me!! I have no idea that the EA has actually passed on my offer to the seller....they could just be telling me that the seller said no!..when the seller probably has no idea of the offers being made!....and then wait for me to increase more and more!! I know this is a bad view of the agent....but I just can't help feeling that they're out to sting us for as much as we can borrow!!! heehee!

    Just tell them no, and if they keep insisting you talk to their mortgage man, walk out. They need you more than you need them.
    It's not easy having a good time. Even smiling makes my face ache.
  • dottiepeas
    dottiepeas Posts: 147 Forumite
    Same here too! I also work from home..and we also want to get a nice home and be settled into our first home! We are renting a flat at the moment, so it would be so nice have a garden again!! (not for gardening purposes!! heehee!..just for bbqs and for the little one to have space to play around!)

    Good luck with putting in your 2nd offer tmw!!.....We have increased our offer to 208k now and waiting to hear back from EA. I have a little feeling I know what she is going to say......:-(

    Wish house buying could be stress-free....heehee!
  • MsConfused
    MsConfused Posts: 63 Forumite
    Sorry dottiepeas - missed your last post before mine somehow. And thanks wickedkitten for your input too. I can't believe how rude she was. In all fairness I did ask them for some initial mortagage advice to see how it all works but they did say that was free and there was no obligation. It's like you say, you just don't know whether you can trust what's happening. I'd much rather just knock on the sellers door and say here's my offer, let's have a cup of tea and discuss it! :)

    Ah, that stress-free life can't be too far away can it?! :) Anyway good luck again! Let us know how you get on. :)
  • dottiepeas
    dottiepeas Posts: 147 Forumite
    Well!...EA called back on my 2nd offer! She said the owner is not dismissing it, but the owner wants to know the maximum final offer that I could go up to!!! Because (apparently) they have another interested party who has also made an offer but lower than myself??....so the owner needs to know my maximum.

    So!....I spoke to the other half, and we agreed that 210k is the absolute final offer, and we will not go any higher!! (I'm sure there will always be someone who is willing to go higher than you!..like ebay I think!! heehee!!) But we're going to stick at that...as really, we don't think the house is worth the asking price. Will hear back from the EA tmw!....

    Could this be another one of their selling tactics I wonder!??.....I will never know!!! heehee!! That is the problem with this buying system we have!!! :-S

    Hope you have more luck with your 2nd offer!!.....Keep us posted on it!!!
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