Offer strategy when there's another buyer

LittleMissAspie

Well to give an update. We put our offer in this morning to be told they'd already accepted a different offer and instructed solicitors. When did they all arrange all that between Friday and Monday?! Argh.

thor

LittleMissAspie wrote: »

We've actually been looking for somewhere to buy since December and getting fed up with it now. There's not much within our budget and when we offer on houses above our budget we get outbid. There's hardly any new houses coming on, just a couple a week and our search area is pretty wide. Looking at sold prices everything is selling very near asking price. It's depressing.

It might not be a bad idea to hold off for a while. With the new government in place, unemployment is going to rocket and interest rates shoot up. All those buy to letters and house buying investors will no longer be able to 'wait and see' and instead will finally be forced in to flogging off. In this situation prices will no longer be able to be maintained at their artificially high levels and if you have cash or be able to afford the higher mortgage rates, your choices should increase dramatically.