FTB question: Making offer after first viewing?

DoubleOhScrimp

Hello,

Ive seen a property online that is just perfect for me and well within my budget and well priced overall. Listed today.

Is is sensible to offer after a first viewing?

I have AIP, proof of deposit, solicitor in place and can give one months notice on rental.

Property is on market for £225k near Cambridge.

Essentially its my forever home :beer:

Moby_Tide

In some cases it's reasonable, never sensible as you can never take everything in on a first viewing. Plus as you are seemingly smitten already I'd say your judgement may be clouded where you will gloss over anything. Even if you ask to go back the day after and seem over keen at least you may be able to check more objectively the second time once you have that initial "hope" out of your system

DoubleOhScrimp

Thanks Moby. Seems like sound advice. I will call to view tomorrow and only offer on second viewing.

*nerves* hehe

monty-doggy

I recently viewed a house and fell in love with it but asked for a second viewing. The morning of my second viewing someone else offered and insisted it was taken off the market and therefore I lost my chance.

I saw another house which I loved and I was the first viewer, there were 4 more people viewing it the same weekend.
Monday morning I was on the phone offering damn near asking price, subject to it being removed from the market!

After this was agreed I then viewed it a second time, before I had incurred any charges, this left me the option of pulling out without losing the chance to buy it. As it happens I still loved it and we complete in a few weeks. I am so glad I didn't wait!

nonnatus

Well, we saw the house we're now living in on a first visit. We fell properly in love (and i truly believe you'll "know" when it's right for you because it will just feel like it's yours already) and made an offer to the Agent showing us around before we even got back to the car!

First offer rejected, second accepted. House had been on the market for 18 months. SOOOOO happy living here now.

Go with your instincts. Don't try and play some sort of game or be strategical, there are no "RULES"...

Seabee42

I would say you have to look at your local market conditions where I have been looking good property's go in a week only the less desirable properties hang around. So if you see a good one come on I would say dont be shy.

There is nothing stopping you from bidding on a property after the first visit. I have done so. It would also not stop me from going on a second visit (to confirm that). Ultimately until you exchange you do not really have much to loose if the property turns out to not to be what you want either because of survey change in circumstance or you find something better.

English property law is pretty terrible about how easy it is for either party to pull out.

DaftyDuck

The property market around Cambridge does move fast, so hanging around may cost you the house. Equally, moving at lightning speed may cost you dear in legal fees and survey, and you may end up with a house you regret buying.

You can combine your enthusiasm and speed to appear determined and efficient to the agent; following the first viewing, phone the agent to arrange an immediate second viewing "prior to our placing an offer, as there are a couple of minor details we wish to check". Do have a couple to hand, if pressed, but be vague.. the aspects and relative sizes of the bedroom windows; the quality of floor coverings.... that kind of thing. You can point out at that time that you have a solicitor on tap, AIP and the rest, just hold back on the formal offer. The agent will be keen to get you in the door as soon as possible and, if it is your "forever" home, try to get some time alone to 'feel' the property.

DRP

DoubleOhScrimp wrote: »

Hello,

Ive seen a property online that is just perfect for me and well within my budget and well priced overall. Listed today.

Is is sensible to offer after a first viewing?

I have AIP, proof of deposit, solicitor in place and can give one months notice on rental.

Property is on market for £225k near Cambridge.

Essentially its my forever home :beer:

Absolutely.

IN our current house we had 2 viewings, but we knew the property ticked all the boxes and knew the area well, so nothing actually changed after the second viewing.

The price is the only issue.

If it is new onto the market, the vendor won't accept a cheeky offer. On the other hand, if the property is well priced anyway, then why not offer close to the AP ?

starbarboy

Hi there

I think if the property feels right and you are happy with the price then go for it. If you have any doubts about it then obviously you would arrange a further viewing. As others have mentioned, you can still change your mind after putting an offer in.

We put in an offer after only one visit and no regrets so far!

Good luck and hope it works out for you.

Stephen

Davecambridge

Having lived in Cambridge for a good few years and studying the property market closely I would disagree that houses 'move fast'. Some will go sold stc fairly rapidly then come back later on as affordability problems surface with the buyer. There are very few sales that go through in Cambridge simply because the only people who can buy at the inflated prices are the cash or equity rich. Check the land reg figures for details.

This is a huge financial commitment (assuming you are getting a mortgage), you should view for a second time for sure, make a low offer emphasising your good position and definitely say the offer is subject to a full survey (unless the house is brand new).

There are a fair few properties in Cambridge around your price range seeing reductions now, the market is bubbleicious! In summary, consider this very carefully!

ognum

Davecambridge wrote: »

Having lived in Cambridge for a good few years and studying the property market closely I would disagree that houses 'move fast'. Some will go sold stc fairly rapidly then come back later on as affordability problems surface with the buyer. There are very few sales that go through in Cambridge simply because the only people who can buy at the inflated prices are the cash or equity rich. Check the land reg figures for details.

This is a huge financial commitment (assuming you are getting a mortgage), you should view for a second time for sure, make a low offer emphasising your good position and definitely say the offer is subject to a full survey (unless the house is brand new).

There are a fair few properties in Cambridge around your price range seeing reductions now, the market is bubbleicious! In summary, consider this very carefully!

I actually disagree, there are many sales that go through in Cambridge simply put Cambridge into Rightmove and on the right hand side you will see the land registry detail of properties sold in Cambridge, there are many.

I keep a my Rightmove list of properties I may be interested in and there are many that go to SSC and they go off the listings as removed and never return and then appear on the sold list.

You are right Cambridge is affected by the London bubble,prices have never in the city truly dropped and are now on a rise. Cambridge does have a large cash rich group of buyers, many who have moved from London which is still only 45 mins on the train.

Will the bubble burst soon, who knows, with all the new additions to the employment market I don't see it happening soon but you could of course be right.

The returns on buy to let are not great here but it is a steady renting sector. I would say if you want it, you can afford it,buy it. Next year it could be 10% more expensive ot 10 less expensive but if it's your home then does it matter?