to those buying in these difficult times! AKA buyers support network

54druids

So Lunary we are in the same position as you (well we will be if vendor accepts the offer which I originally put in 10k under and have just upped by 5k). i.e. tenant until end of Jan. Congrats to Pawpurrs, shame about the kitchen - not based in Scotland by any chance? Roseland good luck with your buy - hope you have more luck than we've had. Hopefully we will find out this week about our offer but what we are facing now is people on a slow down for Christmas and then of course they will come to a complete halt (bah humbug)

Purpletopaz

Hi All

Have 4 viewings on Saturday! OMG i am already paniking, the first 3 are empty and the EA are showing us around but the last one the Vendor is showing to us. Its silly but it makes me a little scared!!!!

Out of the 4 we like the one the vendors are showing, it is a terrace ( of 3 ) but has 4 bedrooms ! The others only have 3, and is similar price, So Here is the advice part

My first home i bought along time ago and paid full price, the second was empty again and needed loads of work so negotiated on that too. But that was in 94'.
I dont have property anymore, We do have a good size deposit, live in rented and am seeking mortgage advice next week from a broker and our own bank. So what I really need are tips on things to ask, should I take a list? ( or will i look like a T*T with a list. DO I look intrested or not!!! Questions to ask vendor? I dont have any childc are for my 2 younger kids so they would come is this ok?
Property is 158500, if we like and mortgage approved what is a good offer ( having recently sold my mums I know they put them on higher to expect a certain amount ) This has just come on the market, and we think is in a chain not sure yet.

Am totally unsure !!! ARGH! ( but its quite exciting too! )

54druids

Oh you poor thing, I really fell for you. Having put offers in on many properties and failed, I am probably not the one to ask but then again I have been extremely unlucky. As for taking kids - try to ditch them for a first viewing but given that they have to live their too, I would definitely take them for a second. As for bedrooms - if you have more than 2 kids then 4 would be better long term or alternatively could you long term make a fourth bedroom from the other two. What you pay depends on how much you like the house and who else is interested and of course is bank dependent. I usually start around 10k under but it depends how long it has been for sale and what condition it is in and not forgetting your position is excellent as you are not in a chain. Hope this helps.

As for me well, I have decided that the people in Helensburgh are crazy. I have had one person who will only sell to me if we meet their entry date of three and a half months hence as they don't want to move into rented for 3 weeks, despite them having no offers in 11 months. I then had another who had been on the market a year then forced me into getting a valuation done at a cost of 500 quid and when valuation came in at 15k less than asking would not lower his price. I have now just put in once again the full asking price on a property as per it's valuation and the vendor has said they want at least 15k over. Now in the previous scottish system offers over was all fine and dandy but now that we have home report valuations, no one in their right mind would offer over the valuation when firstly we are in a downturn and secondly when their are no other viewers. I was told yet again today that I was a hot buyer and that vendors would be dying to get someone like me, after all it is a buyers market but I have yet to experience it here!

Purpletopaz

Gosh that seems Mad to Me! How can they ask for over the valuation. That would put you in negative equity straight away surely? I dont know alot but i do know that. Seems like you are having problems.

today we looked at the houses, and the repossed house was a fantstic size but only 3 beds, and i want to hold my sanity! I have 3 boys still at home ( one already left) the older and the middle fight like cat and dog and there is a big 10 year gap between the middle and younger one so would be unfair for them to share.

the vendors were lovely. no sinister reasons for them moving, all bedrooms double size and could see the sea from one bedroom and the coastline fantastic view,( we live in a seaside town ) garden a bit smaller, but does have 4 beds. not overlooked, and allotments on the other side of the road too!
needs redec in the bedrooms, and some windows aluminum DG, but vendor knows house as her family lived there since it was built in 1977! she bought her sister out when parents passed away. so it has been loved....

Its new on market, ( we the first to look at it ) they have not put offers in anywhere as yet. but have seen 2 they are intrested in. we see brooker on thursday ( bit worried about the scruples of brookers ) and we made a mortagage appointment on friday with our own bank. so obviously we are going to make sure we can afford it,( we were told unoffically no prob) and agreed properly before we go any further. We have 25% dep. but would have to save for the rest of the fees! (LOL ) or put less down obviously.

it does seem mad that buyers have to pay for valuation and if vendor does not drop - your out of pocket!

i dont think there is much choice, out there either. will i ever sleep properly again!!!!

fingers crossed for everyone!!!!

Purpletopaz

Hi,


OK mortgage in place! Have 25% LTV and a good rate, but I am worried, we are going to look at house again tomorrow and then we are going to make an offer, property has been on market 2 weeks is on sale at 158,500, I asked them if they had seen any where and they said one or 2, estate agent would not give anything away,
basically to keep our deposit at 25 % we can only go to 152,000 otherwise we wont qualify for the better rate of interest and the deal we want. We could squeeze another £500 for our deposit, but then we would have to go back to the bank to discuss if we can borrow a bit more.

Advice is needed if anyone can, should we start at 149,500, or 150,000 then up to 153,000 and say thats full and final, so unsure of what to do. The morgate advisor thought that 153,000 was a good offer, but obviously we have no idea of their position at all. which is difficult. This property is so perfect for us, I know people say there will be others, but I cant really see it at the price which makes it so difficult.
anyway fingers crossed, we shall see tomorrow!!!

Purpletopaz

WOHOO offer of 153 Accepted! We are in business, I am so happy! Now the hard work starts I guess. We are so happy to have the offer accepted now they can look at too so i dont know if the chain will be long or short, but I am really excited!!!!!

surreybased

Hi,

Good Luck - so glad your offer has been accepted.

No news for us..we did offer on a house 6% below asking price but it wasn't accepted as the house had just been marketed. A month has now passed and it still hasn't gone under offer, which makes me think that others people also believe it to be over priced. Normally a sensible priced house around here sells in a week.

We have only been sent details of 1 new house in the last month and I'm checking rightmove all the time but nothing new has been listed.
I'm hoping that the New Year brings new sellers

How's everyone else doing?

pawpurrs

Am starting work on the kitche =n in the next few days. Keep getting baliff style letters for the previous owner so expecting them to turn up, despite me returning all mail return to sender, I am sure a lot of people do that even if they still live there!

JerKar

Congratulations Purpletopaz! Glad it worked out for you! Did you go straight in at £153K? Interested to know.

We're in the same boat as Surreybased - back looking in the new year. We hope something shows up soon. We'll be ready to move quickly as FTBs!

arthur_22

Can I join in? Put an offer in on a place in Sept, raised it a couple of times but no joy. Think the problem is house has been on market for ages and vendors have had to gradually drop price, but still have in their mind that first figure the EA probably promised them? Still thinking about going up a bit in the new year though...can't decide.