First Time Buyer: Am I out of my depth?

JimmyTheWig

Phonetic wrote: »

Haha! You sound just like my mum.

She thinks I should offer £95k lol. She was fuming as they gave a guide price of £100k when that was not really the case.

I agree with your mum, though I must be tighter than her!
I'd offer £90k (having done my research first, of course) with a view to agreeing on £95k.

If you're happy to walk away at £115k, there's no harm in putting in an offer. They'll either say no or make a counter-offer.

Fire_Fox

Phonetic wrote: »

Hi Fire Fox

Thanks a lot for your advice. It all seems very complicated but I nwill go through it and hopefully get a better understanding. I realise that this is a big commitment and not something I should rush into lightly.

I will be OK letting this go. Not the outcome I would like but I can't trap myself into what could turn out to be a sinking ship.

I realy appreciate everyone's advice. I was quite disappointed earlier, but I just have to remind myself it's just a flat.

If you are looking to buy leasehold, read many of those articles more than once. Most buyers don't research it (including me ) and haven't the foggiest what their rights and responsibilities are. That leaves them open to being scammed over the service charges and maintenance and even inadvertently breaching their lease/ breaking the law. We have many leaseholders coming on here with a problem that could have saved themselves much heartache, time and even money with research.

Suarez

I find it a bit suspicious that the estate agent told you the lease was over 100 years then later finds out it was 82 years.

If they have had 2 previous buyers surely they would know exactly how the the lease was because the 2 previous buyers would have asked...

Don't set your heart on the place too much and don't show them that you love it. There will be plenty more places around. Offer what you think it's worth, if they reject, ask to view a few similar properties.

Phonetic

This is the flat on offer:-

www. rightmove.co.uk/property-for-sale/property-21827772.html

Please let me know what you guys think.
(Sorry, I can't post links)

Suarez

Phonetic wrote: »

This is the flat on offer:-

www. rightmove.co.uk/property-for-sale/property-21827772.html

Please let me know what you guys think.
(Sorry, I can't post links)

Well this one has had an offer of £112,000 and it's a 2 bedroom...

http://www.zoopla.co.uk/for-sale/details/17520204?search_identifier=ab0a2aa150340e0232591fab137c0b5e

bebewoo

I think they will bite your hand off for a low offer if they are keen to sell.
I've been trying to shift a property in that area for the past year (twice as big as that one though), and buyers are few and far between.

Suarez

Another 2 properties close by...

http://www.findaproperty.com/for-sale/property-12543961

http://www.findaproperty.com/investment/property-12355334

Running_Horse

Commute to Chatham and buy a house.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=STATION%5E1967&insId=2&sortByPriceDescending=false&minPrice=90000&maxPrice=110000&minBedrooms=2&maxBedrooms=3&displayPropertyType=houses&oldDisplayPropertyType=houses&radius=0.5

Phonetic

A big thank you to everyone who has responded.

The realisation that I can get a better deal has sunk in. I will take my time to find a decent proprty tof myself.

If anyone is selling a property in the Hither Green/Lee area I am willing to buy at a fair price!:p

krlyr

If you're spending £100k, can I advise maybe doing a little research first? I don't mean it rudely - but maybe hang about on this forum (particularly this section) for a while - you could save yourselves tens of thousands of pounds now and in the future (e.g. when you try to resell your "£115k" flat that was never really worth that much)