First Time House Buying - Purple Bricks

Warden90_2

Hi folks,

My girlfriend and I viewed our first property tonight, we are looking to buy our first house.

The listing was through Purple Bricks so we were shown round by the home owner herself. We're total newbies to all of this so just looking for a bit of info.

Firstly, the listing is set as 'offers in excess of £145,000'. Now do we go straight in with an offer at that price, or a bit lower, or a bit higher? Also, should there be a set closing date as to when offer need to be made for or is it just when the owner receives a suitable offer she would take it off the market?

Secondly, we have our mortgage agreement in principle with the bank. They recommend some companies to do the conveyancing through, how does that work through Purple Bricks? Do we just click the 'make an offer' on there and use one of the companies they suggest?

Apologies if what I've asked sound completely stupid but just looking for some sort of advice on this.

Thanks

AdrianC

Offer what you think it's worth. This isn't the only place you've looked at, right? So you've got an idea of whether you prefer it to ---> that place or <---- that place, and by how much, and whether you think the asking seems high or whatever...?

However you make an offer - by talking to the vendor herself, through the PB app or website, or on the phone to one of their people - it's an offer.

And, no, there's no "closing date" on the sale. Not unless the vendor decides not to sell. It's on the market until it's sold.

You can use whoever you want as your conveyancer. Doesn't have to be the one your lender suggests. Doesn't have to be the one the vendor's EA suggests. Doesn't matter how you find them... The one caveat is that not all lenders talk to all solicitors - so make sure the sol you find is on the lender's "panel".

babyblade41

Can't add anymore than @AdrianC .. only to reiterate about having a look at a few before making any offers

kinger101

I'd not use any solicitors/conveyancer suggested by a bank or estate agent. They probably would have made the recommendation solely on the basis of a kick-back they get, rather than the actual quality of service. This is definitely true for Purple Bricks.

gingerdad

Do some research using zoopla and right move on prices locally - offer what you think is right.

Things to think about is how long has it been on the market, what else is listed, how quickly are things selling.

for example, we are buying a house currently originally listed at 350K, then reduced a couple of times so we viewed at 300k (listed as offers in excess of £299,950 - we offered 270k, settled and agreed at 285k.

Without any other facts just based on the listing, i'd start at around £130/135k - just cause they want more than £145k doesn't mean its worth that.

We are using are own conveyancer - but used mortgage surveyor.

davidmcn

What country are you buying in?

G_M

Find your own solicitor. Someone local. Go in and talk to them.

Mutton_Geoff

Warden90 wrote: »

'offers in excess of £145,000'

Ignore that statement as it's just an "asking price". Do your own homework on recent sale prices locally and as this is your first time, I would seriously recommend casting your net far and wide, don't get fixated on one property.


Shortlist maybe 20 properties and view 10 even if on paper they might not initially look or feel right, if they are the right area and approx right price, then view them. This will give you experience in what to look for, how rooms connect together, what value there is in a new kitchen or bathroom, how well insulated a place is etc etc.


And don't underestimate your own value to the market, a first time buyer with an AIP? You will be loved by any agent/vendor.


Oh, and I dislike PB properties, they are generally ads from people who are trying to avoid normal agents fees. For all my dislike of agents, they can guide you though the buying process.


And as others say, get your own solicitors lined up now, just pop into a few local firms and speak face to face. Making an offer with an AIP and your own solicitor already lined up ready to take instruction will show you as a serious buyer not just some first time rookie waiting to be taken advantage of.

Mutton_Geoff

jackiebond wrote: »

Buying your first home can be exciting and overwhelming all at the same time – which is why we have a variety of tools and resources to help you through the experience. Whether you’re just starting to save or you already have a house in mind, we can help you get your keys to your first home.

Great, I'd love a first home in New York :rotfl: