Housing detaiks

Bowsa

We have found a property that we like the look of and need to get our offer in Monday.

We visited the property, and liked it, however I still have a few questions and concerns.....

I’m not sure what will be left in the property (garage is full of junk there is a white goods in the kitchen).

I didnt see the fuse board or boiler, so have no idea what state they’re in etc.

If I put an offer in Monday - am I locked in? Or will that buy me some time to maybe re visit the house and ask some more questions?

I’m not looking to mess people about, and given over 100 people looked at it, it’s probably unlikely that we will meet what price is required.... but I don’t want put an offer in to be locked in and find that we are nackered after.

Also if we put an offer in, will they come back and say they want higher or will they just say it’s been rejected and you have lost the house? Essentially will it go back and forth or will I get one chance?

marliepanda

An offer is not legally binding. The only thing that is legally binding is exchange of contracts.


Putting in an offer won't necessarily buy you any time, especially on a popular property with '100 people viewing'


Likewise offers are totally up to the seller. They may reject your first one and go with someone else. They may not want to enter a back and forth. They may love a haggle. There are no rules.

IAmWales

Are you in Scotland or elsewhere in the UK?

If 100 people have looked at it, have they put in offers or not?

Bowsa

I am in England (midlands - though doubt that makes a difference).

I don’t know how many people have put an offer in, though the estate agents said they were into triple figures - and the House was rammed when we were there so it doesn’t surprise me.

I also don’t know if there is any questions I should be asking or anything that they have to disclose regarding the property - though it looks in good condition (if not a little dated).

Just feeling a little rushed and overwhelmed lol

marliepanda

Bowsa wrote: »

I am in England (midlands - though doubt that makes a difference).

I don’t know how many people have put an offer in, though the estate agents said they were into triple figures - and the House was rammed when we were there so it doesn’t surprise me.

I also don’t know if there is any questions I should be asking or anything that they have to disclose regarding the property - though it looks in good condition (if not a little dated).

Just feeling a little rushed and overwhelmed lol

That suggests either an area where houses are never for sale, or its AMAZING and everyones going to want it whether the kitchen has 'white goods' in or not, or its CRAZY cheap and everyone wants it again, junk or no junk.


Its always worth a shot, but feeling rushed and overwhelmed isn't good, especially when making such a big purchase.


The nature of the viewing suggests that a second viewing may not be forthcoming, to look at the boiler, fusebox etc. What is special about this property, as a 'rammed' open house isn't the norm (in my limited experience!)

Bowsa

The reason I want it, is because:

It’s a large house
In a nice area
Around our budget
4 car drive
Double garage
Well sized garden


It’s offers over 160 and they won’t sell to investors.

I get the feeling that they want a quick sale as their dad has recently died - the estate agents said they want it as a nice family home.

marliepanda

Bowsa wrote: »

The reason I want it, is because:

It’s a large house
In a nice area
Around our budget
4 car drive
Double garage
Well sized garden


It’s offers over 160 and they won’t sell to investors.

I get the feeling that they want a quick sale as their dad has recently died - the estate agents said they want it as a nice family home.

Offers over with that much interest will potentially go to offers over. You'll always get people coming to nosy, but not 100's making a house 'rammed'


Also, if people want a quick sale they don't tend to use 'offers over' they price it reasonably to get it gone. This is generalising, but offers over and massive interest doesn't mean theyre going to want a quick sale, they'll take the best offer out of these interested people.


Will you be offering over the £160k, or is that 'around your budget' How proceedable are you? By all means get that offer in but you may not get a response other than 'we'll weigh it against the other offers we have.' If someones already higher than you, they may say 'we have an offer of 15k more from another party' they may not. You've nothing to lose.

Thrugelmir

Express serious interest and arrange a second viewing when there's an opportunity to view the property better.

Bowsa

Well this is another thing I’m not sure about.

We have a maximum of about 175k and I’ve got told that I can get an MIP Monday and I need to sort a solicitor who I have details of and hopefully will be able to sort out to put an offer in.

But what do people do, “offers over £160k”

Do you put in
160,500
161
163
165
170

???

marliepanda

Bowsa wrote: »

Well this is another thing I’m not sure about.

We have a maximum of about 175k and I’ve got told that I can get an MIP Monday and I need to sort a solicitor who I have details of and hopefully will be able to sort out to put an offer in.

But what do people do, “offers over £160k”

Do you put in
160,500
161
163
165
170

???

It doesn't matter. You could offer 100k, or 200k and anything in between and either side. Offer whatever you feel you want to pay and you think its worth, if someone offers more than that, you may get an opportunity to up your bid. You may not.


If its as popular as you think and the seller becomes overwhelmed with offers, it may go to sealed bids where everyone puts their best hands forward. But it might not.


There is no rule.


You don't NEED a MIP to put an offer in, but most EAgents will ask for it to take off the market/show youre proceedable. You don't need a solicitor to make an offer either.

Bowsa

The estate agents have said that we need several things to put an offer in -

Photo ID
Utility Bill
Solicitor details
Proof of deposit
AIP For mortgage