Are First Time Buyers selfish generally?

talulahbeige_2

I think the OP doesn't understand the meaning of a very important word in the phrase "First Time Buyer" or he believes everybody shares his obvious psychic ability to know everything without actually having the experience!

Everybody ,expect the OP obviously, makes mistakes

LadyC

I'm not a FTB, but think the OP's opinion of FTBs is a little bit generalised. We accepted an offer from a FTB who later pulled out due to 'feeling under prepared for the process'. It was annoying at the time, but it was only a week down the line so we were ultimately pleased that they didn't keep us hanging on any longer than that.

We have recently accepted an offer from another FTB, who has been great. Due to wanting to purchase another house which was put on the market at a higher price than was probably reasonable and the vendor not being interested in taking offers (not just my opinion as the person wanting to buy, I hasten to add!- her EA has even hinted that he thinks she should have accpeted a lower amount than we have actually offered), we had to ask our buyer to up her offer a bit more to bridge some of the gap between the price we sell for and intend to buy for. She agreed to this, and although she hasn't actually asked us to get a move on, she instructed her solicitor within 1 working day in order to get the process moving from her end. In return, we will be making sure that we keep the ball rolling as much as we can.

In terms of the person we want to buy from, we probably won't be making much of an effort to please her, as she hasn't been that interested in helping us along the way. If needs be, we have a plan to move into rented accommodation and wait until there are more houses to choose from, but in any case would like to keep our buyer happy - ultimately because we want her to buy our house. If you're not so bothered about keeping a purchaser happy in order to sell your property, you perhaps need to question why you are selling it at all.

As others have said, any party in a chain can be a pain, but it's a little unfair to assume it's always a FTB. Weren't all property owners FTB once? Did you do everything perfectly without the benefit of hindsight and experience? You can research how things are meant to be done until the cows come home, but most people learn from mistakes in life. Try to be a bit more understanding!

LuFo

I think the OP is in the wrong job! Needs to remember that without these FTB's at the bottom of the ladder he would be out of a job altogether!

laughingcow81

That is all very harsh - it is difficult to buy your first home and there's enough people saying to you "it's the most expensive thing you're ever likely to buy" to make you nervous.

I appreciate that FTB's should do lots of research, learn about the housing market, learn the processes (as we did) however you do have to learn it all as you go along, there are no school lessons taught about "how to buy a house".

It's a learning curve - and you have to do it off the cuff otherwise you may make a mistake.

So give FTB's a break - we're not all as well versed in the process of buying a house as, say, conveyancing solicitors?

[Deleted User]

Because first time buyers don't have rental contracts that are about to run out, and then get kicked out with nowhere to live...

When i bought my first home, the sellers at the end of the chain held everything up for a month as they argued about the amount they wanted for their blinds...

At the end of the day, everyone is selfish and has the right to be so

seabright

nomnomnom wrote: »

Oh and btw, points 3 & 4 are what this forum is about. Getting the cheapest quote.QUOTE]

Is the forum about getting the cheapest quote? Or about getting the best value quote?

There's a big difference. It's not a good idea to get a cheap quote if you end up so stressed you can't enjoy your new home or if you later find out things about it which you should have been told before you bought.

Personally, I like my FTB clients. They have lots of excitment and enthusiasm (sp? can't spell this morning!) and are embarking on a big adventure. Makes me happy when I deal with them. Yes, they often need more hand-holding and explainations than someone who's moved many times, but I can live with that. Everyone's a FTB once.

Richard_Webster

It's a balance - I've seen most of the things happen that TimmyT mentions. the problem is that FTBs are just that - they haven't any experience of the process so they need to be helped and guided.

For instance in my terms and conditions I make a big point of not warning them not to rely on what other people tell them when making decisions like giving notice on rented, but will they remember reading it? It is really up to those of us in the business to warn people about the pitfalls as much as we can do so.

nolongerindenial

I was a first time buyer when I purchased this house, and knowing what I know now I wouldnt have purchased this house.

However as a first time buyer, here are the hurdles I faced which at the time, and this is based on the fact we had a approved mortgage and was ready to jump in and purchase the house financially - confused the living daylights out of me, and provided a total of a 7 day delay (we completed 7 weeks after placing the offer rather than 6)

1. Conveyancing solicitor - before I purchased hte house I didnt have a clue what one was, what to do to instruct one or who to pick. All my families reccomendations had entered retirement and as such I had to find someone - although I didnt pick the cheapest, but who I thought would do a thorough job.

2. Survey. This is a big area of concern for me We paid for the middle level survey, as we didnt have the money for the in depth survey (at 3 times the cost), yet wanted more than a simple valuation to make sure we were getting a property in fair condition. This survey included a gas and electrical inspection and came back all clear. However 4-5 weeks after the survey was completed, we had moved in and decided to try and get British Gas Homesafe, they came in and condemned our back boiler as it did not have a front fire and as such, was pushing out Carbon Monoxide - and we independently confirmed this by getting an engineer from my wifes new workplace.

3. Fensa Certificate - This is where the buyer held up the purchase process through not being able to find one. It turns out he fitted the double glazing himself, and had to pay the insurance for them, something else we are planning on claiming on as basically - in heavy winds the windows shake (and this is after we have added extra support around the frames to prevent)

So all in all - dont think as a FTB we get the easy ride. And remember as a FTB / Cash Buyer in general a chain will love us - as we are the end link in the process which allows everything else to move. However one link in the chain can always break the chain.

wymondham

FTB's (and buyers generally) want everything as cheap as possible, and sellers want it as expensive as possible, thats how it is!!

Batchy

As a FTB myself, its not my job to worry about others, call me selfish, but I will pay for something, what its worth to me, and not a penny more, if you don't like my offer, then you can refuse it, dont be annoyed by it.

As a FTB, its my job to save money where ever possible, if that means not having a survey and taking a risk, then so be it.

As a FTB, I have not made 10k's out of housing already so cannot be willy nilly about my decision making as other home owners who have had easy money over the last 6 years. (last 18 months exception)

As a FTB, I want the best possible deal for the lowest possible price.

As a FTB I am not emotional about it, I just want a home. I want it when I NEED it, as generally as a FTB, I will not have a house to sell in a chain and it wont automatically be moved out of as I move into a new house. I have double the hassle to deal with to keep my landlord happy, they also need to find new occupiers. I need to work with them with a fixed plan of action so as not to be left homeless.

Get a grip pal, everyone has worries, but your worries are not of my concern.

FTBs have enough to deal with!!!