FTB- should I make an offer?! terrified

Sicily1991

Hi all,

I'm a FTB and have regularly been using this forum to ask questions about the whole process which has been great.

I've been looking for about six weeks in a new town about 50 miles from where I am as I'm due to start a new job and begin studies in October. I'm confident that buying is a sound investment and have viewed about 15 houses and my criteria has been: must be two bed, pretty much ready to move into (don't mind a little paint/ re-carpeting), and must have a garden, and no chain.

I'd initially found a townhouse which I loved (even a first floor bathroom!) however the vendor is in no rush to move and hasn't put any offers anywhere else and not willing to rent- so no-goer. I had my eye on a small terrace on a quiet street, downstairs bathroom, got a viewing yesterday after been left outside once already and I really loved it. It doesn't have a dining room which most of the others have had but aside from that ticks all my boxes. It's below my budget which is great (because it's a little smaller) but as it's just myself I have more than enough space. I am itching to put in an offer but have been overcome with a massive fear! This is the first house I've really liked which is in budget, am I being too hasty?? Should I go for a second viewing before offering? I would certainly want to view it again, but will the EA let me once I've put in an offer/accepted?

I'm really scared ! Help!

tacpot12

You should only ever put in an offer that is "subject to survey", so putting in an offer now is just the first step. Providing you have the money or a mortgage agreed in principle, you can go ahead and put an offer in now.

You should probably ask to see the property a second time, and this time, look for all the problems that there are - every house has some problems. You need to go into the purchase with your eyes wide open, so have another look around. Nothing to stop you making an offer directly to the owner or estate agent while you are there.

spadoosh

Chances are youve put a lot of research in to this. if youve found something that meets your criteria and is under budget and youre happy with it, its hard ot think of a reason why you wouldnt put an offer in.

Youre not comitting that much either at the offer stage. And as well as that youre about to be introducing the proffesionals who will be very protective of themselves (and typically you too by assosciation). So your lender will want a valuation, that should go some way in to offering reassurances that youre paying an acceptable price. Your solicitors will want a load of documents and confirmations on the house which theyll relay to you and will highlight any major pitfalls. You might also want your own valuation done which can offer more detail on the value and potential of future works being needed.

Youre only comitted to the house once youve exchanged contracts and signed. And thats normally towards the back end of house buying.

If im really honest, id already determined i was going to offer on tyhe house we bought before i even viewed it. I knew the area, i had lived in the exact same style and age of property about 10 years earlier but just around the corner and knew i was going to buy it.

Linton

Get a second viewing before you put an offer in. Backing out after getting an offer accepted is a bad thing to do to a vendor and could lead to you being seen as a time waster.


Start thinking about how you would actually live in the house from a practical point of view. Where would you put your stuff, is there room? Without a dining room, where would you eat? Is the house in a noisy location? What is the area like? Would travelling to work be a problem? Are there enough power points. Is any redecoration or refurbishment required? etc etc Come up with a list of such questions that at the moment you cant answer and then use the second viewing to resolve any doubts.


By the end of the second viewing you should know that either you can live happily in the house or it isnt for you. You will then be in a position to confidently put in an offer if that is what you want.

bopsybunny

When we bought out house we'd pretty much decided it was ours just from the Rightmove ad.

We viewed (or attempted to view) 9 properties in total, so we already had an idea of what we wanted or didn't want, and this one seemed to tick our boxes.

We viewed it once (with my future mother-in-law), and put our offer in the following morning as soon as the estate agent opened. 6 weeks later we were moved in! No regrets, and in this case our gut feeling was right and we still love our house.

If you've seen quite a few properties already and this one makes you happy, go for it

However - the 3rd house we viewed (alone), we got really excited about and nearly put an offer in straight away, but after talking through with family we went back for a second viewing with my future in-laws, and we decided not to offer. I think we fell in love with the idea of being homeowners and were so excited it clouded our judgement. Having another pair of eyes really helped. If you have any family or friends nearby who already own a property and might be able to come to a 2nd viewing, they might be able to guide you. They'll spot things (good and bad) that you haven't.

bopsybunny

Oh and you certainly can go back for further viewings after putting in an offer/having it accepted. Assuming you're getting a mortgage there will be surveys/valuations needed, so the vendor should expect more people coming round to see the house.