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Making an offer - but can't move til next year?!
Hamish453
Posts: 24 Forumite
Hello,
I've lurked on this website for ages whilst waiting for my flat to sell - finally accepted an offer last week (has taken over a year!). Accepted £3k less than my minimum though - i.e. so I can't afford to buy anywhere until I save up that £3k again for my deposit. Bit gutting having lost all my deposit/equity in flat but I guess that's what i have to expect in current climate (and no, I didn't buy at the height of prices!).
Anyway, I have seen somewhere I'd like to buy, they have been on the market over a year and have now resorted to renting their property out whilst having appointment only viewings. Can anyone advise as to whether i should just wait until January, when I will have the money and be 'proceedable' or whether it's worth negotiating an offer just now and saying that i'd want the exchange/completion to be in January?
I don't know if thats really cheeky or not?! On the one hand I would offer a little less than their fixed price (£110k)as they've been on the market so long so they may want to wait for a better offer? But then they may just want the security of being able to say to tenants you have til Jan and know the flat will sell?
Any advice much appreciated :-)
I've lurked on this website for ages whilst waiting for my flat to sell - finally accepted an offer last week (has taken over a year!). Accepted £3k less than my minimum though - i.e. so I can't afford to buy anywhere until I save up that £3k again for my deposit. Bit gutting having lost all my deposit/equity in flat but I guess that's what i have to expect in current climate (and no, I didn't buy at the height of prices!).
Anyway, I have seen somewhere I'd like to buy, they have been on the market over a year and have now resorted to renting their property out whilst having appointment only viewings. Can anyone advise as to whether i should just wait until January, when I will have the money and be 'proceedable' or whether it's worth negotiating an offer just now and saying that i'd want the exchange/completion to be in January?
I don't know if thats really cheeky or not?! On the one hand I would offer a little less than their fixed price (£110k)as they've been on the market so long so they may want to wait for a better offer? But then they may just want the security of being able to say to tenants you have til Jan and know the flat will sell?
Any advice much appreciated :-)
0
Comments
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Ask the vendors and see what they say?0
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I think it's worth going for it, especially as they have tenants in there now and it isn't going to be that easy for them to sell quickly. In any case, your mortgage lender probably won't agree to exchanging contracts before the tenants have moved out.
I wouldn't mention anything about your shortfall in funds, just offer what you think the flat is worth to you and stipulate that the property has to be vacated before exchange of contracts. You can then suggest January as a realistic date for this. That gives them plenty of time to give the tenants notice - assuming that they're on a periodic tenancy. Beware that if the tenants have only recently moved in then they have a right to stay for 6 months so you may not even be able to get in in January.0
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