Frustrated first time buyers

MysteryMe

I agree with the suggestion Hoploz has made, try and build up a face to face relationship with the EAs. You want to be first to get the heads up on a new listing. It is more work but I think it does pay dividends.

Gwendo40

pip10 wrote: »

Interesting! A friend also said something similar about maybe it’s been sold ‘in house’ they called it.

We live in Manchester. There’s a few areas that literally the houses come on right move and they can be gone in a couple of days, so if you’re not on some kind of hot list, it’s hard to get a viewing, or you do get booked in for around 3 or 4 days later because they’ve got no space and it just goes before you view!

I had a feeling you were going to say Mcr, yes it is a relatively 'hot' market there right now.

Although, from what I can see, all this positive sentiment and rising prices seems to be based on nothing tangible what so ever... just the towel folder and his ''Northern Powerhouse'' nonsense, encouraging (often overseas) property investors to pile in and inflate the market.

Lauralou79

I'm greater Manchester (Salford) and the market is very busy. Don't think it's anything to do with the northern powerhouse. No northerner surely believes that anyway?! It was busy last year when I bought too and I feel like it's even busier! We've had 3 letters from local agents recently informing us of demand and offering us valuations.

I've been helping a friend try and view/find a house and it's been so hard. As houses go within days mostly and viewings fill quickly ( FTB market under 250 ish )

She registered with lots of estate agents and they did start emailing her new properties before they hit Rightmove.

If you are offering asking price for offer in excess of, I'd imagine they are perhaps wanting more money and it does seem most are selling above. Even a thousand or so more more will show you are perhaps more interested. It does seem like a lot more houses are coming out with that OIEO Tag. Obviously a house is worth what it is to you!

Good luck it's worth it!!

Cakeguts

I would guess that the 5% deposit is against you in a market where there are a lot of buyers because you won't be able to make up any difference in price from savings if the valuation comes in lower than the price you have offered. There are probably enough people with bigger deposits who can afford to adjust their savings to get the house they want that the estate agents are excluding you as a possible problem which they don't need.



Can you increase your deposit or wait until you have more?

MissMarble

pip10 wrote: »

So we’ve been looking for a house for around 4 or 5 months now and have found it all a nightmare so far and really frustrating.

We’re first time buyers. Have a mortgage in principle and deposit ready. We’re ready to go but...

Some houses we’re not even getting in for a viewing before they sell immediately even though we ring within a couple of hours of them appearing on right move. At least 3 or 4 occasions we have had viewings cancelled on the day, or the day before because a house has sold.

We have realised recently that people must have had the heads up early on a couple of properties before they were even listed on right move. We managed to get an early viewing on one last week for the first time, but that wasn’t for us. Have registered directly with estate agents and told them our position, but apart from that one house, it’s not made much difference yet.

Today was our worst experience so far. We saw a fab house on Friday o.i.e.o 190k. We put an offer in of 190k before viewing as we really liked it and wondered whether it would help us to secure a viewing too (this was the first time we had offered before viewing). We were given a viewing within 48 hours! After viewing we confirmed our offer stood and were told we were only the second to view with more viewings set for this week, but that the vendor wanted to consider our offer over the weekend. Today, we were contacted by the e a - She had been so friendly when we viewed. She was now cold and abrupt on the phone and told us the vendor had gone with another offer. We were given no chance to up our offer and she wouldn’t give any further info. So feel quite bitter about it and it just seems really strange.

I’m here hoping we might get a few words of wisdom, or some thoughts as to why we might not have been asked about increasing our offer? As far as I know, the vendor who was relocating, hasn’t found a house themselves yet, so surprised at the quick sale and literally within a couple of hours of the phone call, it’s already listed as sold on right move.

I knew it wouldn’t be easy buying a house, but I’m surprised how difficult it is. It’s so cut throat. Thanks for reading.

Hi Pip,

We've recently bought a house in Manchester (Edgeley) and I feel you! We found houses would go within hours or open days would be the main type of viewing we could get. For us, we managed to get a first viewing and was firm with the estate agent when we viewed our house. We didn't have time for a second viewing, the day after viewing we made the offer and then the day after that it was expected - we asked them to cancel the open day which was scheduled for that Saturday and luckily they did so.

Whereabouts are you looking in Manchester? I'd check out Edgeley, near Cheadle and Stockport, if you haven't already done so - there's lots of FTBers moving to that area and some affordable places.

hoiyeeanita

I'm a FTB in MCR too, have been viewing seriously in Cheadle/the nicer parts of Stockport since May.

I'm extremely picky and know exactly what I like/want/am able to afford in the under 250k bracket and I completely agree on your aforementioned points.

Hopefully, you'll find one soon! We've over offered on two (previous one fell through) and fingers crossed this one will be ok..

MissMarble

hoiyeeanita wrote: »

I'm a FTB in MCR too, have been viewing seriously in Cheadle/the nicer parts of Stockport since May.

I'm extremely picky and know exactly what I like/want/am able to afford in the under 250k bracket and I completely agree on your aforementioned points.

Hopefully, you'll find one soon! We've over offered on two (previous one fell through) and fingers crossed this one will be ok..

We looked in Cheadle too but found we were getting completely out-bidded on houses which were pretty small for their price! Whereabouts in Stockport have you found a house? Over in Edgeley, we've got a garden and 3 beds - which we certainly couldn't afford in Cheadle as it was more a yard and 2 beds! It's crazy how much you can get for your money when you look slightly further out. I also think Stockport itself is really starting to become quite up and coming - there's lots of lovely, independent shops and community initiatives which is great to see.

hoiyeeanita

MissMarble wrote: »

We looked in Cheadle too but found we were getting completely out-bidded on houses which were pretty small for their price! Whereabouts in Stockport have you found a house? Over in Edgeley, we've got a garden and 3 beds - which we certainly couldn't afford in Cheadle as it was more a yard and 2 beds! It's crazy how much you can get for your money when you look slightly further out. I also think Stockport itself is really starting to become quite up and coming - there's lots of lovely, independent shops and community initiatives which is great to see.

I was originally looking for a 3 bed semi, but are just starting to sort the mortgage for a 3 bed end terrace
I’m a bit annoyed that I’ve had go over the asking price but all the better properties get snapped up SO fast.

antilles

It can be cut throat in some areas. We bought a house last year in an area we really wanted to live in - similar story, we'd been struggling to buy anything in the area as they were snapped up very very quickly.

We got to the point where I was checking Rightmove every couple of hours. We spotted a house we wanted, about 10 minutes after it was listed...got a viewing same day. We offered the asking price while we were driving away and had our offer accepted - beating 6 other buyers to it.

We had already sold our last place, got out of chain, had the money in the bank, and the EA knew we were experienced buyers who would cause them minimum fuss.

I think it's just a case of getting in as quickly as possible, and giving the seller every reason to say yes, by having as few blockers as possible.

You will find something eventually - just keep trying. Good luck!