The FTB club

dottiepeas

Thanks Carolt for the tips and links! I still haven't heard back from the EA yet...but I am NOT going to call them!!!....I don't want to look overly keen about the house!....I think I might try the tactic of saying I have afew other properties we're seeing etc, when they do call me back!

I wish it was more common that people can deal directly with the seller, as it will be far easier and less "games" being played by both parties! I know that some people find it awkward talking money with a seller, but negotiations could be done over email or phone!?......so it doesn't have to be face to face!? I think there needs to be a radical change in house buying!!!! Bring on a revolution!! Heehee!!

dottiepeas

SelenaLouise wrote: »

Hello

I’m a FTB and am in need of some help. Here is my story………

I found a property (Property A) which I really like, on the market for over a year at £134,950. It’s never been reduced and has only had one offer of under £120,000 which was rejected mid 2008.

This property has a conservatory which is a major selling point for me

I put an offer in on Property A of £115,000 considering it had been on for a year and that it had an offer over 6 months earlier. I expected this to be rejected, which it was.

The EA came back to me and said the Vendor was in financial difficultly and said he would accept an offer of £125,000. I offered £123,000 after speaking to my Mortgage Advisor, I also asked for the washing machine and TV.

EA came back to me and said the Vendor really wanted £125,000 for the property and wouldn’t accept my latest offer of £123,000 and that was the final word.

Spoke to Mortgage Advisor who said with my situation I could afford it (I don’t want to stretch myself), so I offered the £125,000 as requested.

The EA then came back and said the Vendor rejected my offer of £125,000 that he said he would accept and now wanted £130,000.

I’m so frustrated!!

Told the EA, that I offered the price requested and am not going any higher. Seems the Vendor is playing silly games so EA said he told him to take it off the market if he doesn’t want to sell.

There are similar properties in the immediate area, one on the same block with very similar proportions (Property this has only been on for a week at £135,000.

Went to view Property B which was lovely although no conservatory. The Vendor showed me around and answered all my questions (she is moving to be closer to family).

I’m thinning because this property has only been on for a week and she isn’t desperate to sell I may have to offer around £130,000 or above to be successful.

But this is the same price that Vendor at Property A (with conservatory) is asking

Basically I’m just looking for some advice because I don’t really know what to do. Do I stop wasting time with my first choice or just go for the second choice and get things moving as I’m desperate to move out of my parent’s house.


Please Help!!!


Thank you

Hmm!..it's a tricky one! I think based on the price, I would probably choose the first house with the convervatory?..(if that's one of my main priorities of a house)...as why pay the same price for a house which then doesn't come with the conservatory?
Does one house need more work/decoration than another?...or are they both practically the same?....
For me personally, I would prefer not to deal with an EA/seller who changes the price lastminute!....they may prove to be problematic to deal with, later on in the process?! I mean what if the seller just before contracts get drawn up/signed then decides that he wants another 5k more???....
It is a tricky one though!!....but if my decision was based on price only, then I would choose the one with a conservatory!!
Keep us posted on this one!.....

HockeyDuo8083

Congrats MsConfused! It's a great feeling isn't it?:beer: :T :j

Wickedkitten

SelenaLouise wrote: »

Hello

I’m a FTB and am in need of some help. Here is my story………

I found a property (Property A) which I really like, on the market for over a year at £134,950. It’s never been reduced and has only had one offer of under £120,000 which was rejected mid 2008.

This property has a conservatory which is a major selling point for me

I put an offer in on Property A of £115,000 considering it had been on for a year and that it had an offer over 6 months earlier. I expected this to be rejected, which it was.

The EA came back to me and said the Vendor was in financial difficultly and said he would accept an offer of £125,000. I offered £123,000 after speaking to my Mortgage Advisor, I also asked for the washing machine and TV.

EA came back to me and said the Vendor really wanted £125,000 for the property and wouldn’t accept my latest offer of £123,000 and that was the final word.

Spoke to Mortgage Advisor who said with my situation I could afford it (I don’t want to stretch myself), so I offered the £125,000 as requested.

The EA then came back and said the Vendor rejected my offer of £125,000 that he said he would accept and now wanted £130,000.

I’m so frustrated!!

Told the EA, that I offered the price requested and am not going any higher. Seems the Vendor is playing silly games so EA said he told him to take it off the market if he doesn’t want to sell.

There are similar properties in the immediate area, one on the same block with very similar proportions (Property this has only been on for a week at £135,000.

Went to view Property B which was lovely although no conservatory. The Vendor showed me around and answered all my questions (she is moving to be closer to family).

I’m thinning because this property has only been on for a week and she isn’t desperate to sell I may have to offer around £130,000 or above to be successful.

But this is the same price that Vendor at Property A (with conservatory) is asking

Basically I’m just looking for some advice because I don’t really know what to do. Do I stop wasting time with my first choice or just go for the second choice and get things moving as I’m desperate to move out of my parent’s house.


Please Help!!!


Thank you

That EA for property A must smell that you are overly keen. I would definitely let them know that 125k is the max that you are going and no further.

SelenaLouise

dottiepeas wrote: »

Does one house need more work/decoration than another?...or are they both practically the same?....
For me personally, I would prefer not to deal with an EA/seller who changes the price lastminute!....they may prove to be problematic to deal with, later on in the process?! I mean what if the seller just before contracts get drawn up/signed then decides that he wants another 5k more???....
It is a tricky one though!!....but if my decision was based on price only, then I would choose the one with a conservatory!!
Keep us posted on this one!.....

Both the same in terms of quality. My options are:
1. 1st choice property with conservatory. On the market for a year Wishy washy seller.

2. Equally nice property, 2nd choice. No cheaper, but serious seller.

pawpurrs wrote: »

If your happy to gamble on possibly losing the property, why not ring up and say you will repeat your last offer which stands untill the end of today, then you will be offering on something else?
Hopefully that will make the vendor realise you are serious, but are not prepared to be messed around.
Have to admit the vendor of my current house, did similar and I did increase, but wish I had stood my ground as I am sure they would have backed down.
Its a case of who falters first here.

This seems like a really good idea, Im going to Property B tomorrow night for a second viewing so I should be able to come to some decision because it is literally the same but without conservatory.

I already have upped my offer to what he wanted and now he's changed his mind. Think I may wait a few days and call him Friday if dont offer on the other one.

Wickedkitten wrote: »

That EA for property A must smell that you are overly keen. I would definitely let them know that 125k is the max that you are going and no further.

I am overly keen which i think has come across, I already have a Mortgage in Principle (or whatever it is) and dont want to lose out on the deal I have been offered.

I suppose I'm being a little impatient and have been dying to get on the peoperty ladder for ages!!

I feel like this is my chance now, but am trying not to rush.

Thanks for all your advice :beer:

pawpurrs

Asking for the TV was a bit cheeky,what made you do that?
Not heard of that one before in all my time selling properties!;)

SelenaLouise

pawpurrs wrote: »

Asking for the TV was a bit cheeky,what made you do that?
Not heard of that one before in all my time selling properties!;)

Lol I thought if Im ask for it he could come back to me and say no but I'll take the money. Clearly didnt work...........

pawpurrs

Maybe thats what irked him?

MsConfused

Just another update on me (sorry don't want to keep sounding self-centred). We've struck a huge problem already - can't stay stress-free for one day. I'm bound to get people slating me on here for not realising - but the house is actually leasehold not freehold and only has something like 25years left apparently - which means I highly doubt we can get a mortgage for it (waiting for our broker to call back). I feel so stupid - we should have checked. The EA recommended we view the house and at no time did anyone say it was leasehold - and the advert on rightmove doesn't mention it so we just presumed. I found out on another website advertising the house, so called the EA who said she hadn't realised it was leasehold either. She called me back later and said the vendors will apply for the freehold but we have to pay for it - but don't have a clue how much extra all that's going to cost, and got a feeling it will be huge So what ever you do, check its freehold! I didn't even know the difference - and thought maybe it was the case of paying a little bit extra each year in rent (turns out its quite a bit extra too). I don't want to let the vendors down, but we just weren't prepared for this. Will update you when i hear from our broker.

ETA: broker confirmed we will porbably not get a mortgage as it stands and will have to get the freehold but said this will affect anyone buying the house with a mortgage - so surely the sellers should pay for it, otherwise they're limiting their options to only cash buyers and in this market that may be waiting some time. Do you think it will be wrong of us to say they have to pay? Im so confused - my name is fulfilling its duty.

Wickedkitten

Quite pleased that in less than 24 hours we should have our keys.