House buying in London- current market is moving so quickly! Any advice?

readytofly

Ok so we are first time buyers and we have money for our deposit and fees together, a decision in principle, we've started the hunt and we know what we're looking for. The first time we looked(2011) we had OODLES of time to look, ponder, have a second look etc. Fast forward to 2014 houses are selling almost as soon as they hit rightmove! We're looking at popular homes: 2/3bed houses under the £250,000 mark on the outer edges of North London.
I've managed to pin down a home for a viewing this weekend- it looks gorgeous from the photos, ideal. I've researched the area, schools, crime rate etc and I'm planning a trip on Friday to mooch about at different times. I really feel like we will be forced to make a quick offer in order not to lose out! Two places we looked recently had 60 viewings each in 4hrs!
Is there anyone here who can give me some solid advice for buying in such a fast paced market??

Thanks in advance!

beecher2

Try to find and view a property as soon as it comes on the market, and then move fast. In my opinion, waiting until the weekend to view is too late - you need to be viewing properties as soon as they come up. It was the same in 2003 when I last bought and I physically went into the estate agents to find details of properties as soon as they went up for sale.

readytofly

Beecher2 if only it were that easy. Working 7.30am-5.45pm every day 13 miles from where we want to buy really restricts daytime viewing opportunities. Saturday is an open house viewing, these are the only sorts of viewings we have made it to for houses! Flats have been a bit more flexible. We're missing out on at least 3 properties because vendors can't/won't do viewings after 7pm. I've 10 days off work in April so I know what I'll be doing then! Thanks for the tip.

Dan-Dan

You snooze , you lose

movilogo

Offer 10% over asking price and then you have a chance.

readytofly

What I really need is advice on THE questions to ask if we won't have time to think and revisit! You snooze you lose isn't really very helpful advice.

readytofly

Thank you movilogo, 10% over isn't really an option for us though! 1%, maybe!

Dan-Dan

readytofly wrote: »

What I really need is advice on THE questions to ask if we won't have time to think and revisit! You snooze you lose isn't really very helpful advice.

Bleating on about having to wait till the weekend , then wondering why you are losing out on propertys?

As i said , snoozers are losers

ognum

readytofly wrote: »

What I really need is advice on THE questions to ask if we won't have time to think and revisit! You snooze you lose isn't really very helpful advice.

Actually although it was probably phrased in a less than positive manner it is good advice.

It am sure you are doing all you can but you need to be proactive, keep in regular touch with all the EAs, maybe leaflet an area, be prepared to take an hour of work to go and view on day 1.

have your mortgage offer arranged, get a solicitor in place! go and talk to EAs and tell them your position, offer them you mobile no.

Good luck!

MattinLondon

I'm in a similar situation. Slightly difficult to view until weekends.

What's your big plan then Dan Dan. Take a couple of weeks off work hoping that places come up in that time so you can view? What happens if nothing comes up and then you have no annual leave left...

readytofly

I'm a nanny in charge of small children. I simply cannot 'take an hour off work' thank you for the tip.