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Shared ownership
ashleigh1984
Posts: 670 Forumite
Currently in the process of looking to buy our first place. Have a 20k deposit but due to cost in own current town we were reluctantly looking elsewhere as we can not afford here.
We found somewhere out of town and have made an offer. Since this however we have found a shared ownership place in our currently town for 40% for 105k. We have arranged a viewing tonight and chances are we will want it. However I don't know how these things work so if we make an offer then EA puts it to the housing association do they sit on it waiting for more offers or is there a chance it could get accepted straight away?
We found somewhere out of town and have made an offer. Since this however we have found a shared ownership place in our currently town for 40% for 105k. We have arranged a viewing tonight and chances are we will want it. However I don't know how these things work so if we make an offer then EA puts it to the housing association do they sit on it waiting for more offers or is there a chance it could get accepted straight away?
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Comments
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you are confusing yourself with the process followed for a re-possession. In that case the lender typically does operate a time limit in which the property will remain on the market and thus open to further offers. Only at the end of that time will the best offer be accepted. That is not how SO works, if the vendor likes your offer they will accept it, if they don't they won't.0
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im in the middle of buying my so house and i made the offer in the morning and it was accepted withing 10 minutes, one thing that i dont like so much is having to fill all the forms, the estate agent told me that i would have to do all the running around and its true with shared ownership but its going to be worth it.0
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Remember though, shared ownership is a scam
Educate yourself:
https://forums.moneysavingexpert.com/discussion/3177256poppy100 -
that is rubbish poppy.0
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