Offers - Am I moving too quick?

Hoploz

Nobbie1967 wrote: »

You must be rich, bet you wouldn't bend down to pick up a tenner in the street:rotfl:

We're talking thousands of pounds here, remind me what the MSE forum is about again;)

Yes, and so often we read about people trying to be smart and losing houses over a grand or two, only to still be looking a year later when prices have gone up and the same kind of houses they viewed last year are now 30k more

I am not rich I just know the market tends to move upwards and it is very possible to find yourself priced out of a market

Mickygg

I would arrange second viewing ASAP. You should view again before offering an amount that looks like it would be accepted. It's a lot of money to offer only seeing once in what 20 minutes total viewing time??

Can you not view before weekend? It's good to view a house on a weekday as you have done a weekend.

Then if you still like it, I'd offer the £168k and then hopefully happy days! Do it quick though before other parties get in on the action.

strawberries1

Good luck OP! I'm excited for you! I hope I find mine soon! Will this be the first you're offering on?

rosie383

Hoploz wrote: »

Yes, and so often we read about people trying to be smart and losing houses over a grand or two, only to still be looking a year later when prices have gone up and the same kind of houses they viewed last year are now 30k more

I am not rich I just know the market tends to move upwards and it is very possible to find yourself priced out of a market

Trust me. Hoploz is right on this one. We did exactly that last year and prices for pretty much exactly the same house are £20k more in 6 months.

Argghhh

if you offer the 168k do it on the proviso it is taken off the market there and then, no more viewings

JimmyTheWig

fluffy123 wrote: »

So it wouldn't be advisable to offer the 168k and then do a second viewing before arranging the mortgage etc?

Ie: Offer the 168k tomorrow, get it accepted (in theory), have a second viewing in the next week or so. Start to arrange the mortgage next week-fortnight?

What would your offer mean in that case?
What would be the point of a second viewing at this stage?

If the second viewing is to establish whether you want it, and how much you are prepared to pay, then you need to do that before you offer. Otherwise your offer isn't serious and the seller shouldn't hold off other people from viewing.
If your second viewing is to plan how you want your furniture, etc, then leave that until much closer to completion.

kingstreet

fluffy123 wrote: »

when I apply for my mortgage (I'm doing it through a broker). Will I be able to pay for arrangement fee and the mortgage survey via a credit card?

Possibly. Depends on lender. Fees are paid direct to lender, not to broker.

Will it be looked on negatively if that amount is then not paid off my credit card immediately but paid off in a couple of weeks?

No. Lenders work on what the balance will be from completion and beyond, not what it is now.

Also, I do want to do the big survey as well but do I have to select this when applying for the mortgage?

Most lenders offer the homebuyer's report option, but not a chartered building survey. You'll have to see what yours offers.

You can have the lender's surveyor do their mortgage report and valuation and your homebuyer's, or you can split them and have your homebuyer's done by a different surveyor.

When the sale is agreed, you should wait for the chain to fully form before you go charging off spending money. You do not benefit from being too far ahead of anyone else. It will give you unrealistic expectations if you get two months on from the issue of your mortgage offer and the top of the chain hasn't found anywhere to move to...

Loopy28

The house I am (hopefully-long story) buying was on for 190k, had only been on the market for two weeks and I undertook two viewings before making an offer, however I did have these viewings within a couple of days of each other.

I offered 185k and the vendor said to the EA could we meet somewhere in the middle and we agreed to 187k.

I would've liked to get it for 185k but it worked out to £10 a month more in mortgage payments at 187k and wasn't worth potentially losing the house over it.

I had my fingers burnt a bit previously when offering on other houses and found that some vendors do just try and play you, so when you get one who is willing to make a deal and be open about what they want, provided it is reasonable then grab it.
Examples of nightmares for me have been offering asking price and the vendor coming back and saying they want 5k more than asking price. I have also offered 2k under asking price on a house and got a flat 'no' and no other comments and negotiations were forthcoming and it showed the vendor didn't want to sell-they shortly withdrew it from the market.
Then there was the EA who wouldn't pass on my offer unless I used their mortgage services.....

Don't lose the property you want if it is in your price range and the vendor is letting you know what they will accept but definitely do a second viewing.

fluffy123

Thanks all

I think I've cleared it up. Arranged another viewing for Friday. Said I was still interested but needed to view again before upping an offer - the estate agent said in principle would I go to the 168k figure if all being well which I agreed to, subject to the second viewing. They booked the viewing and contacted the vendor and confirmed that 168k would be accepted.

So the viewing is booked but the EA offered their congratulations and I don't get why? I made the point 3 times that I'd go to 168k subject to the second viewing and everything meeting what I want. I might go again and decide 165k is the figure I'm sticking to. Am I worrying for nothing - I've made my point clear to the EA, I'm worried they've informed the vendor something else?

Do I just go and view and see what happens?

rosie383

Do exactly what you have planned. Neither the vendor nor the EA can hold you to the £168k if you decide after a second viewing that it isn't worth that much to you. It is your decision that you have to be comfortable with. This is why people do go for a second viewing. It will give you a much better idea as you will go in with a more critical eye. Good luck.