first time offer

emmalita

Hello I have just viewed a house for second time and put in a offer. When viewing I asked the EA if there had been anymore offers. He said yes but that he wasnt allowed to tell me the latest offer of 110000 had been declined... He said if I wanted to make an offer to go in at around 115000. The property is owned by the liquidators and at first this put me off as I thought it was the same as a repo.Hes told me its not and that I can put a condition on that there not to be anymore viewings/offers. Anyway the house is up for 127500 and ive offered 115000 he is contacting the liquidators tomorrow so hopefully they will give a yes or no.This is a great price for the area and size of accomodation on offer and would be willing to pay asking price if i need to. Has anybody bought a hpuse under these circumstances? Also the EA took my mortgage propmise off me is this normal practise Thanks

laura2877

is the property on the internet? i'm just purchasing a repossessed property now and on the hip (on the ea's website) it states that the property was repossessed and barclays were the sellers.

the asking price was £69950 ans we offered £65k this was accepted straightaway and the estate agent said ' oh your lucky they only usually accept £1k under the asking price in the first few weeks' i think she was just talking rubbish.

when we received the letter from the ea's it said the sellers were some legal company in surrey not barclays.
check the hip because that should show who the true sellers are.

we have been a deadline of 28 day exchange and the ea's are still allowed to market the property.
my friend bought a repo but offered the asking price and it was taken off the market until the exchange date. it went through before the exhange but it would have gone back on if not.

they took our mortgage promise off us too and they rang our mortgage advisor fishing for personal information.
apparently the sellers wanted to know more about our mortgage before accepting our offer so the ea's had to ring me and ask as the ma wouldn't tell them anything.

They seem to be quite sneaky.

good luck!

emmalita

hi thanks for your reply,the EA said the liquidators were a accountant firm?? dont quite understand this. The couple that are living in the house were mortgage free but had taken loans for their company which had gone bust and now they are being forced to sell to pay them off. Im expecting the offer of 115000 to be rejected but would be over the moon with 120000 being accepted. I told the EA that i didnt want to bother with a repo but he assured me it wasnt but am still a bit dubious. Also the mortgage promise has got the amount they will lend me on it which is 148000 and i didnt want EA/vendor to know this as they will think i can pay more but in reality id have to find extra deposit(am putting 25% down)

emmalita

yes its on rightmove didnt know the couple were selling under these circumstances they are in their 60s and have owned the house from new 45 yrs ago,its sad really. He said that i would probably have my mortgage offer in 21 days as halifax are quite good but said if it takes longer then they will just ask for extension so maybe it isnt a repo then

emmalita

well today i received call from EA saying that the company in possession of the house has rejected the offer of 115000 and were looking at offers between 118000 and 120000. The EA recommended an offer of 119000 so i agreed with this and they rang me back to say the offer had been accepted.They have said that they cant put it as sold stc yet as its too early in the day for that but if i put in for mortgage with EAs mortgage advisor they could then do this. I insisted i would be continuing with my own broker so they said when the survey report is in then they will put it sold stc.I immediatley rang my broker and told him about the offer being accepted and what the EA had said he wasnt too best pleased lol.Anyway broker came round took all extra info he needed and he is putting the formal mortgage application in tomorrow.So at the mo im a happy bunny but it all sounds to easy and am waiting for something to go wrong which i suppose everyone does lol

emmalita

had a phonecall today from broker saying he has put formal mortgage application online and that it has "accepted" and has said no more documentation required. he said 5 mins latest he checked the status and halifax surveyor has been instructed. i asked him when the underwriting will be done and he said it wont until the survey comes back because it has been accepted.this sounds a bit too easy for my liking.if any brokers read this can you give me your opinion please thankyou