House Buying - Moneysaving Tips

spend_thrift

slane wrote: »

It's good to get advice on how low to go with the first offer - we too are looking at houses around the £400k mark and I sometimes worry we are being rude if we offer too low.

Just wanted to add, in getting more background info about the seller's position, we've found it useful to find out how much they paid for the property. This can give you room for negotiation if you know they got a real bargain and are now trying to sell for a much higher price. If you register with Rightmove you can get sold prices for the last five years free, otherwise they are quite cheap from the land registry website, about £2 I think.

Just an update - Land Registry now costs £4.

sarahmoo

Just a quickie....sounds a strange question but................is there an optimum day/time of day/month to put in an offer?

Cheers!

Catbells

Hi. I'm new to this thread having just sold my house last week. Change of status you might say. I'm renting. I hadn't planned to but couldn't find anything I liked - well one but he didn't accept my offer. Now I'm glad I'm renting because I am led to believe house prices are going to drop by an average of 10% in my region - London (this is from people who I know who know more than me & also Housepricecrash website statistics). For the first week after moving I won't be able to view many properties as will be settling in. After that I'll be like a hurricane seeing as many as I can and putting in offers.

One thing I would like to know is this. I've seen many properties over the past 5 months which have had price reductions of around 6-7% after a couple of months being on the market. If you put an offer in on one of these reduced houses do you put an offer in on the new reduced price. I would think so. And how much to offer on the 'new' price? Thanks.

monkeypuzzle32

JoeMoomin wrote: »

Hoping someone can help!

I'm in the process of buying my first place. It's a 2 bed flat. All agreed privately at 75k so no agent. However after survey and a closer inspection the electrics are dated and a bad smell from the sewage. This may just be because the flat is empty but the electrics will need doing. The owner doesn't agree and after I offered less basically told me to get stuffed! This is only property in the area within my reach and is quite nice! Am I'm being pedantic or should I expect this?

Thanks

what did the survey say exactly??If you like the flat and have done your research on equivelant sold prices in that area and the price is still good then ask if you can take a trusted builder/slash handyperson round to price up the work that needs doing then go from there.
The seller could be being harsh because he knows hes selling at a lowish price,however I'd more homework because if this flat is cheap and/or the only thing in the area for that price is that because of a reason???No one gives money away.

cantthinkofanickname

Just a thought about buying. If the property is empty (under executor sale) then to cut down on risk why not exchange contracts on the same day as completion?

lucyelizabethfryer

Hi, I'm a FTB looking at a flat I would really like to buy, and I was wondering if some kind person would quickly send me a list of things I need to do before, during and after buying a flat? For example, I know I need to get a survey done (a Building Survey, because the building is old and I want to know more about some concealed period features) but I'm not sure whether I should get it done before or after applying for a mortgage. What order do I do everything in?? Also, can anyone recommend a good conveyancing solicitor? I'm not worried about them being local, just reasonably priced and reliable! I am willing to pay more for a good service. Thank you so much! x

Sle2802

Hi

I am a first time buyer with little knowledge on buying, could you advise me how much you can offer on a property? For example, I have looked at a property at 99,950 what would be a good offer to put on it (houses in the area range between 80 - 120k)

Thanks

lisagoodchild

The house market is at a delicate point at this current time. If you are going to buy it needs to be in an area that has something to offer. For example the recent house price rise in Anerley due to the tube.

arrie25

I am looking for a newly built flat with 2 bedrooms....i recently see one flat of $300...but i want to pay $250...i am so confused ...please anyone recommend me

nic.cj

Hello

We have had our house up for sale for a year now, 4 weeks ago we accepted (a low) offer on the basis we wanted a quick sale. The buyer is currently renting, we have an offer accepted on a chain free house.

4 weeks down the line and our buyer has no mortgage confirmed and no solicitors details. We have done everything our end. We keep ringing our estate agents to find out what is going on but not getting answer so we are losing faith. Our seller is getting a little impatient now.

Has anyone used the "quick sale for cash" buying companies?

What advice would you give on my current situation?

Regards nic.cj