FTB - Offer accepted, what next?

cherryx3x3

My partner and I have just had an offer accepted on Saturday.


We are FTB so I am a bit clueless as to what to do next.

• We have a mortgage advisor dealing with the mortgage application
• Solicitor appointed through the estate agents - Do I wait for them to contact me?

What are the next steps? Do I just wait or can I make a start with booking a survey?


Thanks

kingstreet

Is the chain fully formed, or is your vendor looking for a property?

Spend nothing until the chain is fully formed as you may waste money dashing off ahead of everyone else.

cherryx3x3

Vendor is still viewing properties. Last we heard they were going for a second viewing on Saturday and estate agent dealing with the sale isn't in until tomorrow.


I will wait until I hear from the estate agent.


We are also trying to negotiate what they are leaving behind as we have given full asking price and they are over the moon so have agreed to leave stuff behind to help us out. How do we go about making this formal? Estate agent or solicitor?

Surrey_EA

As Kingstreet says, don't go spending your money on surveys, solicitors or mortgage applications until the chain is complete abobve you.

Their solicitor will be asking them to fill out a fixtures and fittings form which will itemise what is included in the sale price, and what is excluded in the price. Sometimes you will find that sellers do not complete this form until such time as they have agreed a purchase and they know what is being left at their new house. Once completed their solicitor will send it to your solicitor.

juniordoc

cherryx3x3 wrote: »

we have given full asking price and they are over the moon

***Alarm bells ringing*** Sounds like you may have offered more than this property is worth, I bet the sellers cant believe their luck! The valuation from the mortgage company may offer you an independent opinion on this and may give you grounds to reduce your offer if they think you've offered more than it's worth.
As others have said, don't book your survey until the chain is complete, but buy all means look for recommendations on surveyors.

Surrey_EA

juniordoc wrote: »

***Alarm bells ringing*** Sounds like you may have offered more than this property is worth, I bet the sellers cant believe their luck! The valuation from the mortgage company may offer you an independent opinion on this and may give you grounds to reduce your offer if they think you've offered more than it's worth.

Whilst this may turn out to be the case, surely there has not been enough information supplied by the op to confidently reach that conclusion!

Sometimes paying the asking price can turn out to be a good deal, other times getting a 20% reduction in the asking price you'd still be paying too much.

ThePants999

Surprised nobody's said this already, but a standard recommendation on MSE is "do NOT use the solicitors recommended by the estate agents". The only reason for the "recommendation" is that they pay the EA a commission for the referral, and sometimes you see these solicitors acting in ways that are not strictly in their clients' best interests in order to safeguard future referrals from the EA!

faded_flowers

Seconded with the solicitors - I used reallymoving.com to get quotes as recommended here. My bank then offered me the same solicitors... but for £200 more than my direct quote!

sulphate

juniordoc wrote: »

***Alarm bells ringing*** Sounds like you may have offered more than this property is worth, I bet the sellers cant believe their luck! The valuation from the mortgage company may offer you an independent opinion on this and may give you grounds to reduce your offer if they think you've offered more than it's worth.
As others have said, don't book your survey until the chain is complete, but buy all means look for recommendations on surveyors.

In some areas of the country it's very common for houses to go for asking price or even more.

OP, I agree not to spend more ££ before the chain is complete.

Congratulations and hope the purchase goes through smoothly!

cherryx3x3

Thanks everyone.


To be honest I think we are the ones who have hit lucky as I feel the house could have went for more than the asking price.


Hopefully hear back today from the estate agent as she has been off since Saturday. Only used the estate agent solicitor in the hope this will speed things along. Suppose we all learn things by our mistakes - hopefully it doesn't turn out that way!

sparky130a

cherryx3x3 wrote: »

Only used the estate agent solicitor in the hope this will speed things along.

Best of luck but.... :wall::wall::wall:

I have no idea where you got this idea...