Second Viewing = Dropping Offer

mimi1234

Hi guys,

I posted a few weeks ago and was very excited about a property I had seen. As it was the first house I had seen in a while and it looked in quite good nick, I went and made an offer. The viewing was very rushed and it was double booked so we didn't get a proper chance to speak to the vendor/seller.

Since then, the state agent has been constantly bombarding me with calls and emails saying come and bring us proof of ID etc. I have provided proof and shown them how much money I have. I will now only need a small mortgage as family and friends are lending me money.

The vendor/seller is not in a rush to move as the flat she has seen near her son won't be empty for another 3 months.

Anyway, I digress. I've got the second viewing tomorrow. I've looked intently at the floor plan and have asked a few people at work who have bought houses etc and they have told me that it is not actually 3 bedrooms, but 2 bedrooms. 1 of the bedrooms has access to the only bathroom in the house and if someone were to sleep in that room, they would be woken up each time someone wanted to pass through to get to the bathroom and back. If a passage was put in, the bedroom would become smaller than a box room so to be honest, it would only be 2 bedrooms and a very small storage room.

When I went to view the first time, I obviously had my beer goggles on and was so rushed I failed to pick up on such things. I've got 2 work colleagues going to view with me tomorrow and they have told me the price I initially offered was very naive and that I would have to think about it carefully as it is not actually 3 bedrooms and there is no central heating.

My question is this, if nothing has been signed solicitor wise, am I able to drop the offer?

Also, does anyone know why estate agents are so pushy? I've not even had the survey done yet (everyone is off for Xmas) and they keep saying I need to instruct a solicitor ASAP. I do have a solicitor in mind and I have contacted them, got the prices etc, but they told me I need to go and view the property again and be sure I actually want it.

Thanks to anyone who can help.

Tigsteroonie

mimi1234 wrote: »

My question is this, if nothing has been signed solicitor wise, am I able to drop the offer?

Yes, but expect the seller to swear at you and tell you where to go.

mimi1234

Tigsteroonie wrote: »

Yes, but expect the seller to swear at you and tell you where to go.

That's fine, I will take it on the chin. As a first time buyer, there are things I did not know about and am learning.

iammumtoone

I would not drop the offer which is very unfair to the seller. The bedroom/bathroom issue is a basic thing you should have noticed, its not like the seller was trying to be sneaky in hiding anything!

Of course you also have to do what it right for you so I would just withdraw at this stage and leave the seller free to find a buyer who without trying trying to sound too rude knows what they are looking at!

Next house you view maybe don't offer until you have had a second viewing (as per the good advise given by your solicitor) I realise in some areas this isn't possible as property is snapped up really quick, but the kind of house you are describing does not sound in this category.

Good luck I hope you find what you are looking for in the end.

System

If you are going to drop, do so sooner rather than later so you both minimise wasted time or money. It is your right to change your mind, on one hand its not entirely fair but on another you can't go knowingly making a lifetime commitment on a mistake

Prothet_of_Doom

If the house isn't worth what you offered, either walk away or make a different offer. Quite frankly, buying a house is the most expensive thing you can do, so take your time to get what you want.

mimi1234

Quizzical_Squirrel wrote: »

You're messing this seller about. They must have serious reservations about you by now. You put in an offer weeks ago and have done absolutely nothing to commit since then.

I fear if you put in a substantially lower offer now, it's going to be the last straw for the sellers. You're already starting looking like a time-waster and that will confirm it.

I viewed the property on the 10/12/2015, so it's been less than 2 weeks. It's not really my fault if the vendor/seller is not around and I could not go for a second viewing. I've asked to go at weekends and even tried to take time off work but they could not arrange for it.

I fully get where you are coming from about the time wasting bit, that was never my intention, but the estate agents were putting so much pressure on me and I didn't know what to do.

But you are all right and instead of dropping the offer, I will just phone up and withdraw the offer.

Thanks for the advice guys. I am writing notes in my note pad so I know what to do next time and not go in and make a rushed offer.

BananaRepublic

It is quite common for a sale to fall through, I've seen houses where it fell through several times. One on my house fell through after the potential buyer did some homework. You offered in good faith, if it does not fit, then pull out.

By the way I wonder how it is described for council tax purposes? Mine is a three bed, my neighbours larger house with more rooms is a two bed. I pay more council,tax.

iammumtoone

Having read your post again OP, its good you took advise off colleagues (and the internet)

But please remember anything anyone says is just their view and at the end of the day you need to make your own decision. Something made you put in a quick offer so you must have liked the house a lot.

What is wrong with the house? Why has something a colleague mentioned put you off so much? Or is it you feel too rushed?

Personally I don't like houses with joined bedroom/bathrooms but plenty of people live happily in them and they do tend to sell at slightly cheaper prices due to this.

Have you looked at current prices in the same area for 2 and 3 bedrooms to see the comparison? Is there any room downstairs to put in a toilet in the future when funds allow? This would mean the bathroom upstairs would be for people living in the house only (not so bad).

mimi1234

iammumtoone wrote: »

What is wrong with the house? Why has something a colleague mentioned put you off so much? Or is it you feel too rushed?

Personally I don't like houses with joined bedroom/bathrooms but plenty of people live happily in them and they do tend to sell at slightly cheaper prices due to this.

Have you looked at current prices in the same area for 2 and 3 bedrooms to see the comparison? Is there any room downstairs to put in a toilet in the future when funds allow? This would mean the bathroom upstairs would be for people living in the house only (not so bad).

Thanks so much for your reply IAMMUMTOONE. The only issues with the actual house are no central heating and the bedroom / bathroom pallarva. That is putting me off big time.

And to be honest, the agent really really pushed me. I think I went in with "naive first time buyer" plastered all over me and she took advantage of that. Within an hour of the viewing, she was already encouraging me to put a higher offer in or else it would get snapped up straight away and I played to her tune. She said jump, I said how high.

The house I viewed is not too far from here and it seemed ideal. I went in with beer goggles and everything seemed and looked perfect which it obviously wasn't. I did notice the bedroom / bathroom pallarva but the other prospective buyers were also there and had numerous kids running around causing havoc.

I was off work that week and could not ask colleagues for help. I asked a few friends who advised me not to go crazy with offers but I was naive and stupid enough to play along to the tune of the agent. The colleagues I asked this week at work are "landlord and property checkers" and the first two I asked told me the price I had offered was stupid and very naive. The work that needs doing would easily add to the price I offered and it is no longer affordable.

Having looked at prices on Zoopla and such like, some 2 and 3 bedrooms in that very street sold for £83K and £93K in 2011 and 2014. I offered well over that amount but I do not know the state of the other properties and why they sold for low amounts.

I feel like a right muppet now.

ed67812

mimi1234 wrote: »

some 2 and 3 bedrooms in that very street sold for £83K and £93K in 2011 and 2014. I offered well over that amount but I do not know the state of the other properties and why they sold for low amounts.

I'd expect you to have to pay a decent amount more for a comparable property sold in 2014 (especially if it sold early 2014) and a hell of a lot more than in 2011, when the market was still bottomed out in many areas.


Rightly or wrongly, bubble or not, at the moment houses are not as cheap as they were!


I would say that if you are having doubts about the layout then perhaps the house is not for you. But if you think it is, I would still explain to the seller why you are making a lower offer. They can either decide to tell you to 'foxtrot oscar' or accept the lower offer (they might be thinking that you've offered more than they thought they'd get and they will understand why you think you over offered). Just pulling out might mean that the seller spends months looking for someone who ends up paying the same as what your lower offer would have been!.