Ftb!!

missz_2

Right, I've got my eye on one or two houses...But what to do next? Can I put in an offer, or do I need to get a surveyor out or something? What if I put in an offer then surveyor tells me there's an issue? I've had a "provisional" mortgage quote from the bank, but I need to get the detialed one. Is now the right time? Help. Not got much of a clue what to do.

Many thanks.

:eek:

gemstars

If you like the house and are ready to put in an offer then that is the next step. You usually get the survey done once the offer has been accepted.

Once the offer is accepted you'll go and do your full mortgage application and get your solicitor in place.

Assuming you're in England you're not actually tied in to buying the house until the contacts have been exchanged so if the survey throws up something that makes you change your mind, you can.

I'm a few steps ahead of you (currently waiting for the contacts to be exchanged) and I'm also a FTB

Xinpei

Hi missz, Have you been to see the house a second/third time? Bring a person who knows something about buildings with you for a general look over to make sure the house is not horribly wrong. Put in the offer and get it accepted first before getting the surveyor out. If there is a problem, you could either pull out (assuming you're not in scotland) or haggle the offer down.

HSBC has a good guide on their website which walks you through the process of buying a house I found quite useful.

All the best

DaddyBear

Have you done your research on local house prices? Check land registry data to see what similar houses in the area have sold for. Also you can use a program called property bee to see how long the house has been on the Market for and whether the price has been reduced already. This will give you an idea of how desperate the seller is. Don't believe what the estate agent says as their agenda is different to yours.
Try to sell yourself as a good buyer. No chain, mortgage approved, good deposit etc. Avoid appearing too keen by pointing out faults even if you don't think they are faults and exaggerate the number of other properties you have viewed.
The average difference between initial asking price and actual selling price is currently around 30% and the average fall from peak price is over 20%. And remember that it is still a buyer's Market.

missz_2

Thankyou for you replies and great advice, I will take it all on board. I lost this thread - and just managed to track it down again.

I have been looking at similar property sale prices in the area, but it's a little difficult as nothing seems to have been sold recently...11th of Jan is the earliest. Would it be worth inserting a nearby postcode ? Or a nearby street?