To those BUYING in these difficult times....

The_Drama_Llama

Congratulations, sonastin! You've got staying power, that's for sure...

CheeseCat

sonastin wrote: »

:beer: It all went through at lunchtime today. :beer:

Picked up the keys this afternoon and spent the day chasing down split pipes and water leaks! Its been a long 39 weeks but we're finally there :j

Sorry to hear that things aren't going so well for other folks but if there's one thing I've learnt - its worth hanging on in there :T

Great news! :beer: i'm really happy for you.

Lets hope we get some more good news today! Celyn, let us know if your new offer is accepted.

My seller has said bank holiday is too early to complete so she's suggesting 10th May (Tuesday ) but hasn't responded about the rendering work yet... i'm not signing anything til she does!

Blodwen

celyn90 wrote: »

Ahhh...

We've been gazumped We can up the offer a little bit, but not much (OH is refusing to budge). It's really annoying as we've just paid the solicitors upfront fee - then get a call three hours later telling us someone else has come in with another offer The agent was annoyed too - it's up with two agencies - and the higher offer has come from the other agency.

Sorry to hear that Celyn- at least you are being positive about it and you're right, there WILL be other houses.

sonastin wrote: »

:beer: It all went through at lunchtime today. :beer:

Picked up the keys this afternoon and spent the day chasing down split pipes and water leaks! Its been a long 39 weeks but we're finally there :j

Sorry to hear that things aren't going so well for other folks but if there's one thing I've learnt - its worth hanging on in there :T

Excellent news, finally!

We're not having much luck on the buying front. Our second offer (at 92%) was rejected, but the really annoying bit is that there have been no counter offers or negotiation from the EA or vendor, just 'it's too low'. We left it a few days then rang the EA to see if they could get any indication of what they were looking for and they got back to us to say the vendor said 'within the xK's' i.e gave a range from asking to 10k under, but I doubt they'll be entertaining anything at the lower end. Odd thing as well was apparently vendor said someone else is interested but they need to sell their own. We've sold so obviously in a better position but if there is another interested party why did the EA not mention them to us? They're only on with one EA so if this person exists they must know. We were prepared to go a bit higher anyway* but am so tempted to call their bluff and tell them to go with the 'other person' - if they do exist we don't want to get into a bidding war anyway. Sorry for the long moan, just can't seem to find anything and when we do everything goes wrong Might as well laugh about it, if I don't I might cry!

*Just to clarify, we're not averse to the idea of going near asking price although in the current market I can't believe people are expecting it, but this house is the most expensive of comparables in the immediate area, we're not convinced it would be valued at asking for a mortgage...

celyn90

Well... our new offer (the asking price as advised by the agent) has been turned down - but apparently the other guy has only offered a "tiny amount over" according to the vendor so the ball is back with us. I showed OH what else was on RM in that price bracket then pointed out how much we would pay in rent by staying put for six months (over 5K) whilst we searched for something else. I then showed him the area sold prices and now he wants to raise the offer once more. The system where he is from is quite different so it has taken some time to get him to understand how it works here and that the asking price isn't an upper ceiling in cases like this.

Property is fairly stable in our area and we haven't experienced the fluctuations other areas have. There is a very strong rental market here as the city's largest employers by far are the two universities (to be fair, there isn't actually much else here).

We will need to talk to the bank today - as long as we preserve out LTV ratio we can actually go higher as we only want to borrow less than half of the maximum we could, so it wouldn't be a stretch - we just get a much better mortgage rate with this LTV (rather keep the mortgage offer than the house tbh). It's annoying - we were supposed to be signing off the mortgage today, but the property is a reposession so the asking itself is low for the area and we always knew this could happen so were prepared for it.

The agent isn't in today, so we have until tomorrow to decide on a revised offer, but we reckon we can go over the asking now without affecting the LTV ratio by enough to bring it to market value; it's just working out if it should be done in small increments (OH wants to do this) or in larger ones (I want to do it this way) to avoid a long and drawn out bidding war. We'll see what the bank advise this afternoon All fun and games Feels like Vegas! :rotfl::rotfl:

LisaB1970

An update from me too - after the fiasco with the original MA and being declined twice because he was a useless idiot we got it all sorted....and we exchange today...wooohooo!

kazire

Hi everyone hope it's ok to join in I have found a property I like have had my offer accepted just been to the solicitors to fill in initial paperwork and jus seen my mortgage broker to send off the mortgage application and pay for the valuation! Now I guess I'm just in that waiting game hoping that the valuation will come back right!

xtra_time

Is it worth putting an offer in below the price if it says Offers in Excess of £x?

azkaban420

Whoooot congrats Sonastin, you got there in the end!! :j

Chin up Blodwen and anyone else needing a bit of luck..we will all get there finally!

Celyn, good luck with your revised offer;

Congrats LisaB1970 on exchanging...lots of good stuff happening! :beer:

xtra-time: It's defo worth putting in an offer below OIEO if you're serious and it's not far off. When we had our property as OIEO we did end up seriously considering an offer below. If you don't ask, you don't get

Az

Neil_in_Bristol

xtra_time wrote: »

Is it worth putting an offer in below the price if it says Offers in Excess of £x?

My sister-in-law has just had an offer accepted of £192,000 on a house advertised at "offers over £200,000". It had been reduced from £230,000 already.

Depends on the seller, I guess.

Catatonia

Great news, sonastin.

My exchange is being delayed as the seller can't be bothered to go and sign the contracts.