Thinking to buy a house

haxor

Lokolo wrote: »

Do you have a mortgage in place?

You will need to get a mortgage and get solicotors to proceed. The mortgage company will do a survey for valuation purposes. However you can have your own survey done if you want.

I'm paying cash

elverson wrote: »

Read all of this first and make sure you understand it before you proceed.

http://www.moneysavingexpert.com/mortgages/house-buying-guide

thanks,will do!

cloo wrote: »

Investors are actually very unworried by a possible Brexit, as far as I can tell, and I work in property journalism. I don't think anyone expects either outcome to cause a housing crash. And nor should one wait based on the fear of falls either - as long as you're planning on staying there about 5 years+, certainly in the South East, you'll probably be fine, but you won't be if you have a chance and then miss it.

Hopefully there's no crash now lol,i worked my a** off to be able to buy a house,i made a mistake in 2013 to not buy.

Debtslayer

haxor wrote: »

I'm paying cash

thanks,will do!

Hopefully there's no crash now lol,i worked my a** off to be able to buy a house,i made a mistake in 2013 to not buy.

Congratulations on your offer being accepted and well done for working hard and saving funds to be able to buy a property outright.
You need to find and instruct a solicitor and look for a company to carry out a survey; which one is dependant on the age of the property; homebuyers survey is usually adequate. If its an older property then you will need a full structural survey
Good luck and let us know how you get on.
:beer:

haxor

I don't know why,probably because its a big investment but I'm starting to wonder if I'm doing the right thing to buy this property (I know my offer got accepted),the property that I'm buying has been sold in 2013 for 165k today I'm buying it for 260,its extra 95k after 3 years.
I understand the house situation nowadays is crazy,but I'm just 24 and don't want to make a nonsense investment,i still didn't do a survey (from what I'm reading on internet it's better to do it?),the house i'm buying is in SE London,and to be honest finding a decent house at this price is really hard if not impossible.
I'm getting really frustrated :eek:

marksoton

You need to stop looking at it as an investment. It'll be your home first and foremost.

£260K in SE London suggests you'll have some work to do.

AlexMac

Just go for it. And I hope that if there is 'pressure from parents' (your OP) that they are digging into their pockets to help out.

Buying a dump in S London (in 1975 in my late 20's) was the best thing I ever did for my long term financial security, and while your ma n pa are probably a bit younger than me, they will still have benefitted from years of house price inflation so can probably afford it. It's in a way, unjust that your parents generation (and even older people like me) have in effect sucked money out of the pockets of younger people through the bizarre behaviour of the housing market...

Even if the market slows a bit (which I don't think it will do in your manor), you'll still be OK, and will probably learn useful skills if as someone above says, you have to do the place up. And I bet you'll have no trouble selling (or letting it out) in a few years ifyou do get itchy feet.

So, as I say above- just go for it

Cakeguts

You are buying a home not an investment. Money is for using for things that improve your quality of life. So if you want to own where you live buy the house and enjoy it.

haxor

Back again,because i just received a call from the estate agent saying that they received a higher offer?!?! after mine has been accepted? I am still shocked,i offered a little bit more but this is really wrong morally,i understand i didn't signed the contract yet ( i was supposed to,this week).
its just really frustrating because i used my trust bonds to buy this property,how all this can be legal? its just wrong!!!

[Deleted User]

When you made your offer, was it on the condition that the EA stopped marketing the property? i.e. no more viewings, and mark as 'sold subject to contract' or similar?

AdrianC

haxor wrote: »

Back again,because i just received a call from the estate agent saying that they received a higher offer?!?! after mine has been accepted? I am still shocked,i offered a little bit more but this is really wrong morally,i understand i didn't signed the contract yet ( i was supposed to,this week).

If I had suspicions about the reality of this thread before this post, they've just been multiplied. FTB, £260k cash buyer, miffed at "missing out" three years ago. Parents hassling to move out.

Sorry, but if you are real, you can understand why there's a credibility gap here...

Anyway, there is no way on this planet that you would have been exchanging contracts just a week after your offer was accepted. It Does Not Happen.

its just really frustrating because i used my trust bonds to buy this property,how all this can be legal? its just wrong!!!

Until contracts are exchanged, there is no firm legal agreement. Either side can back out or change their mind for any reason.

haxor

Cherry_Gale wrote: »

When you made your offer, was it on the condition that the EA stopped marketing the property? i.e. no more viewings, and mark as 'sold subject to contract' or similar?

they sent me a letter with wrote "we write to confirm that your offer of 260k on the above property has been accepted subject to contract and froof of funds".