Offers above...but how much?

Doctor_Gloom

Good luck with it. But be prepared for the mortgage provider not to share your opinion (or should that be the vendor's opinion?) on what the house is really worth. And then you'll be back to Square 1

st3w4rt

Thanks, Doctor Gloom.

Really appreciate your input. I understand that if they do not agree with our (and vendors) opinion then we will not be able to get a mortgage? Is this correct? If this is the case where do we go from there?

LittleMissAspie

st3w4rt wrote: »

I'm confused now just had a text from estate agent asking us to bring in passports, recent bank statements and payslips.

Do not show the EA your statements or payslips, they don't need them. They will probably ask for a copy of your AIP to prove you can proceed.

It seems like you have offered too much if your first offer was accepted, then again getting it for the 2003 price seems quite good (in my area prices are around 2006 levels). Have you actually compared recent selling prices for your area though?

It's not too late to lower your offer though they won't take it seriously since they now know that you are prepared to pay more. Perhaps the survey will throw up something and you can reduce your offer based on that. You can also pull out altogether up to exchange.

st3w4rt

Thanks LittleMissAspie, will speak to our mortgage provider in the morning too.

We have checked other prices one nearby was on market for £140K not sure what it sold for in the end. There aren't many similar properties nearby to compare it with though really.

Ok on refection - Maybe we did offer a bit too much...but It may well be that the vendor wouldn't have accepted anything under £130K had we have offered less it may have been rejected. Some other 'mug' may have offered more and ended up with the property we wanted and we may have ended up in somewhere that may not have been happy with.