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Advice on offering on repo?
brock-cruse
Posts: 196 Forumite
Hi all
Well our buyer has been approved by our agents financial bloke and he is seeing her next week to sign up for mortgage. Other than that thats it for the mo.
But been to see the repo house today (a house we were in the very early stages of buying last time before chain fell through) with our property developer friend who basically said yes go for it but make sure we have full survey to check the extension work is ok (massive 2 storey one...lots of cracks in walls etc). He reckons on about 8k worth of work needs doing but thats without kitchen units as he thinks they are ok! Apparently another family viewed today and are interested but they have to sell. Agent said we are in a stronger position. We originally said no offer until our buyer has had survey and mortgage offer but our friend says we should get in there. Agent says he may be able to do something about the 28 day time constraint we were given last time. So im thinking i may go in and see agent on mon, give them our offer, tell them exactly what position we are in and ask their advice on whether we should put the offer forward to the bank now or wait a while. Bearing in mind we have already paid for some of the searches, still have to sort our mortgage out (need to have offer accepted first but there was no problem last time) plus our solicitor is off sick! What do you think? Should i go in and speak to them or leave it for a while? Meanwhile our agent says to wait so that we dont spook our ftb. Last time the bank took us right up to asking price (225k) but seeing as it has now been on market for 6 weeks with only low offers that have been refused we are looking at making an intial offer of 217k. Last time when we offered from 210 up to 225 the bank kept saying they neither accepted or rejected as they wanted to see if they could get higher.
Any advice?
Well our buyer has been approved by our agents financial bloke and he is seeing her next week to sign up for mortgage. Other than that thats it for the mo.
But been to see the repo house today (a house we were in the very early stages of buying last time before chain fell through) with our property developer friend who basically said yes go for it but make sure we have full survey to check the extension work is ok (massive 2 storey one...lots of cracks in walls etc). He reckons on about 8k worth of work needs doing but thats without kitchen units as he thinks they are ok! Apparently another family viewed today and are interested but they have to sell. Agent said we are in a stronger position. We originally said no offer until our buyer has had survey and mortgage offer but our friend says we should get in there. Agent says he may be able to do something about the 28 day time constraint we were given last time. So im thinking i may go in and see agent on mon, give them our offer, tell them exactly what position we are in and ask their advice on whether we should put the offer forward to the bank now or wait a while. Bearing in mind we have already paid for some of the searches, still have to sort our mortgage out (need to have offer accepted first but there was no problem last time) plus our solicitor is off sick! What do you think? Should i go in and speak to them or leave it for a while? Meanwhile our agent says to wait so that we dont spook our ftb. Last time the bank took us right up to asking price (225k) but seeing as it has now been on market for 6 weeks with only low offers that have been refused we are looking at making an intial offer of 217k. Last time when we offered from 210 up to 225 the bank kept saying they neither accepted or rejected as they wanted to see if they could get higher.
Any advice?
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