FtB woes!!

G01001100

Afternoon all! Thank you in

advance for any extra views or

advice for us!

We're FTBs and we're just

about to agree to an offer (after

negotiating) of 390k for a linked detached property.

I can't post a link on this thread but I was able to include some screenshots...

We think we'll add on some

conditions like moving in asap

(there's an onward chain), their

house being taken off the

market (STC on all advertising) and making sure the oil

tank isn't empty on completion

as well?!

We're obviously new to this, is

there anything we're missing??

Thank you!!

Jonboy_1984

Frankly this is the reason FTB get a bad reputation for being over demanding.


You can make all the demands you like about moving in ASAP - if the vendor is in a chain and doesn't have options to break the chain you are making a lot of hot air and stress on both sides for no reason.

For example when we sold last year we could not move in with parents/family as the only available option was taken by a sibling going through a divorce.

There were also literally no short term rentals on the market, that would accept pets within a 25 mile radius and we would rather have let the sale fall through than commit to the minimum 12 months rental almost all standard agents were advertising (again only 2 of the 30 longer term rentals on rightmove when we looked accepted pets) .


A minimum level in the oil tank might be reasonable (say 4 weeks worth to cover you until you can organise a delivery) but you wouldn't get prepaid gas or electricity, so why do you think you should have oil? 

lika_86

propertyrental said:

All pointless. As seller unless I was absolutely desperate and with no other interest I'd ignore your offer.

I disagree. These are all utterly meaningless conditions other than removing it from the market. For example, what is asap? Of course I'll agree to moving asap, what is possible being entirely subjective and not specified or objective. Not leaving the oil tank empty, sure, but what is empty? A day's worth of oil, not empty...

It does somewhat suggest naivete but nothing here to particularly annoy me as a seller.

My only condition when we bought our house was to take it off the market. 

Tiglet2

We think we'll add on some

conditions like moving in asap

(there's an onward chain), their

house being taken off the

market (STC on all advertising) and making sure the oil

tank isn't empty on completion

as well?!

We're obviously new to this, is

there anything we're missing??

Thank you!!



Seriously, "moving in asap" cannot be a condition of your offer. 

You, your seller and all the people connected in your chain do not have a magic wand.  The work that the solicitors do, for example, can only progress as and when they have all the documents and responses to their enquiries. 

At this stage, you've no idea what anyone else in the chain is buying, whether the properties in the chain have any legal problems with the title, whether there are any other deal breaking issues, such as subsidence, Japanese Knotweed etc.   

Only when all the investigations are complete and there are only a few straight forward last processes outstanding, will you be in a position to discuss dates with your solicitor.  Until then, it is all wishful thinking.

The agent should take the property off the market, though it won't be removed from Rightmove/Zoopla etc.

The oil tank is something you'll have to negotiate with the vendor.  Vendors don't usually take the oil with them, but may ask for some money if there is quite a bit remaining in the tank.  

dimbo61

So Your ready ?
AIP
DIP 
Deposit in the bank
Solicitors appointed and ready to do searches ?
Checks done on you ! Passport etc
Surveyor ready 

Last time I bought a house we made the offer on Monday 9am and had survey done on Thursday 

TheJP

As highlighted, as an FTB you don't have any more power over sellers as anyone else.

Moving in ASAP - As soon as possible, which means as soon as the process is ready to complete, could be 3 months could be 6 months. You cant dictate this until contracts are ready to exchange. Pointless demand.

Asking for the house to be removed from the market is sensible and one i am sure the seller will agree to unless they feel there is a lot of other interest. Again FTB status doesn't weald the power many FTBs thinks it does.

The oil tank request is hard to measure, what is not empty? Enough for the boiler to heat water for one bath? Perhaps once contracts have exchanged make sure you order oil to arrive on completion day. That would be sensible.

Perhaps identify any fixtures or fittings that you would like to stay in the house as a condition of sale, blinds, lighting etc. I see the TV is set within the wall, could you make an offer within your offer that it stays otherwise you'll need to find a TV that fits/ yours may not fit/you'll need to fill in the gap. 

The biggest piece of advice i will give you is to manage your expectations, the seller can and will say no to you on some things, the survey may give insight to things that you may need to pay for as maintenance or things that you should negotiate but again the seller can say no/based on modern regulations that only need updating if you want them to.

Good luck. 

Sg28

Decent gaff for a ftb

BobT36

dimbo61 said:

So Your ready ?
AIP
DIP 
Deposit in the bank
Solicitors appointed and ready to do searches ?
Checks done on you ! Passport etc
Surveyor ready 

Last time I bought a house we made the offer on Monday 9am and had survey done on Thursday 

Probably a long time ago for you. 

Mortgage companies tell FTBs VERY strictly to not engage solicitors or surveyors until you have the OK to do so from them, (probably when they've done THEIR evaluation and approved the mortgage etc). 

As to the house, bleh. These new builds always have nice bathrooms, sometimes nice kitchens (depending on layout, sometimes no worktops etc), but always horrible overlooked from every direction. Why do they build them like that?? 

Grizebeck

Some big price drop but your way to demanding 

hazyjo

markin said:

A 4 bed with only 1 parking space, is the plenty of on road parking?

Looks like 2 to me - one behind the gates, one in front? Presuming that's part of the house.

lookstraightahead

Personally I wouldn't buy a new estate house.

but, from a different perspective, in 35 years of buying and selling I will always ask sellers to break the chain, and as a seller, I am always happy to break the chain to get things moving.

Everyone's perspective is different, but I've never had a problem renting whether it be with pets, children or neither.

I don't buy into hanging around for ever, and I certainly don't accept (personally) that it "takes as long as it takes".

having says that, if you make those rules, you need to be happy to walk away if people don't want to do the same (many sellers get cold feet/don't want the hassle/think it's impossible/genuinely don't want to). It's never happened to me (and in all honesty, I've always been happy to walk away in the back of my mind).

I think I'm in the minority on here with this viewpoint, but it's just how it works for me. 

The house has been reduced a lot, it might be cheaper for the owners to go into rented for 12 months than run the risk of further reductions.