FTB - Am I gazumping?

[Deleted User]

The exact same thing happened to me. This is the story. 

I am buying a BTL so no chain and 25% deposit with a previous mortgage offer ( but house had issues ) 
Called up for 3 bed semi house £430k - recently reduced from £450k. House being sold by executors. Agent said they had an offer but buyer not sold own house and vendors want to proceed quickly so agreed I could view. If was not SSTC. 

Went round. Agent said offer was £420k. That was in my mind as house a bargain ( I live in next road so I know values) Had a candid chat with agent. She knew I was a valuable buyer. 
She said if I offered same the vendors bound to take. I did, they did and we complete on Friday - all within 8 weeks from offer to complete!

ktf2020

Wow, I'm really overwhelmed by the helpful advice, thank you all for taking the time. We will chance offering asking (we have 15% deposit) and I guess the only risk is offending the owner with our evaluation of her long term family home. We had a very long chat with the vendor while looking and she did seem to like us so hopefully that will help, plus we'll only be first time buyers once so might as well get some kind of benefit from that

eve824

I fail to see how you can insult the vendor by offering full asking price. Go for it

moneysavinghero

You are not offending the owners. The valuation was theirs and you have offered what they are asking for.

steve866

ktf2020 said:

Wow, I'm really overwhelmed by the helpful advice, thank you all for taking the time. We will chance offering asking (we have 15% deposit) and I guess the only risk is offending the owner with our evaluation of her long term family home. We had a very long chat with the vendor while looking and she did seem to like us so hopefully that will help, plus we'll only be first time buyers once so might as well get some kind of benefit from that

Make sure you update the thread with their response!

ktf2020

Will do  
Can anyone advise on whether we need to have appointed a solicitor before making an offer? And how on earth do you find a good one?! Heard some horror stories but no one has given us a personal recommendation. Would it be a bad idea to ask our mortgage broker to suggest someone?

moneysavinghero

No need to have solicitor in place before making the offer. But good to start your research now so you will be ready to instruct as soon as your offer is accepted.

ktf2020

Great, thanks. We just called the estate agent to ask about an included fixture and fitting list and he acted like we were mad to ask. I thought that was quite normal to check? He said he'd phone the seller but I think he'll just call back and say yeah she's taking anything not fixed with her. Is that enough?

Falafels

ktf2020 said:

Great, thanks. We just called the estate agent to ask about an included fixture and fitting list and he acted like we were mad to ask. I thought that was quite normal to check? He said he'd phone the seller but I think he'll just call back and say yeah she's taking anything not fixed with her. Is that enough?

The fixture and fittings list is normally forwarded to your solicitor by the vendor's solicitor once the offer has been accepted and is under way, as part of the draft contract. It's not handled by the EA.

That said, my purchaser asked if she could view the property with me there, after two viewings with the estate agent, and I was happy to show her what was included and what wasn't.

UnderOffer

ktf2020 said:

Great, thanks. We just called the estate agent to ask about an included fixture and fitting list and he acted like we were mad to ask. I thought that was quite normal to check? He said he'd phone the seller but I think he'll just call back and say yeah she's taking anything not fixed with her. Is that enough?

Fixtures and fittings is dealt with at the conveyancing stage. The vendor will tell you on a detailed list, what is staying, what they are taking and what items can stay if you’d like to buy (and they put a price). Just get your offer in and go from there.