FTB making an offer - adive please

VIGILANT22

blackcat8 wrote: »

I thought the kitchen and singal glazing would be the reason, also the oil heating. But I didn't know you couldn't get a mortgage? It has a kitchen room, only has a sink in, but hasn't got cupboards/appliances.
The mortgage in principle that I've arranged is only for £80000, on the bases that the highest we pay for the house is £90000 and us putting £10000 down

If it has a sink will probably pass for mortgage purposes...However....I would say this prpert would have a retention on it and the full mortgage amount would not be released until ceratin work has been carried out....these properties are not bargains unless being bought for cash by a developer who refurbishes and puts it back on the market

With a repo, yr offer has to be published in the n/paper and this allows someone else to come in with a higher bid.......

TRICIA2753

I got gazumped when I put an offer in on a rep, spent £600 on a survey, all wasted because they want higher than we could have the EA asked us to up our offer but we couldnt they originally said that 99% of the time people didnt gazump you but they did to us!!

blackcat8

if your offer is accepted can't you ask for the property to be taken of the market so this doesn't happen? Or is it different with repos?

andrewmp

blackcat8 wrote: »

if your offer is accepted can't you ask for the property to be taken of the market so this doesn't happen? Or is it different with repos?

It's different with repos, they have to put your offer in the paper and invite higher offers.

blackcat8

I put in an offer of 73k this morning. The EA came back saying they want something nearer 90k and asked if I can increase my offer. I also said that I thought 90k was too expensive considering the amount of work that needs doing. I said I'd have to talk it over with my bf before I make another offer. I'm planning to wait until they ring me, so I don't seem too eager. But what should we offer next?

fimonkey

Ea's aren't all daft, plus they are a bit quiet these days so have chance to read forums like this.

So whatever you offer next its quite likley your EA is reading this and knows your upper limits. It might be too late to do anything about it, but at least remove the rightmove link? - just some friendly advice