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Buying a house from a company!!
lauren1983
Posts: 192 Forumite
Hi everyone,
Ive have today put an offer in for our dream home.
The estate agents have informed me that the offer has been accepted but because its a company that is selling the property, they have to advertise in the local paper to inform people of my offer so that they will have the chance to alos put in an offer!
After the ad has been out for 7 days then we can start to proceed.
They want to complete within 28 days which is no problem, but they said that any time up until completion peple can still view the property and make offers.
Which i suppose means that i could pay solictors fees ect and then on day 27 someone could outbid me.
Is this right and has anyone ever been in a similar situation.
Thanks
Lauren
Ive have today put an offer in for our dream home.
The estate agents have informed me that the offer has been accepted but because its a company that is selling the property, they have to advertise in the local paper to inform people of my offer so that they will have the chance to alos put in an offer!
After the ad has been out for 7 days then we can start to proceed.
They want to complete within 28 days which is no problem, but they said that any time up until completion peple can still view the property and make offers.
Which i suppose means that i could pay solictors fees ect and then on day 27 someone could outbid me.
Is this right and has anyone ever been in a similar situation.
Thanks
Lauren
0
Comments
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You're buying a repossession, effectively.
Yes you can be outbid but it is unlikely to happen once you are near the point of exchange - the company will look more and more favourably upon an offer that is nearing completion.
You have to take the risk and move as fast as you can to try to put people off. If you are offering near to asking price/market value for the property then it's less likely that you will have trouble than if they stick an ad in the paper saying "look how little they've offered on this house!"Everything that is supposed to be in heaven is already here on earth.
0
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