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First Time Buyer - Property already has offer. Help!
Sparkles84
Posts: 1 Newbie
I was just wondering if anybody has any advice. I am a first time buyer looking for a place with my partner. We have found the perfect home and made an offer which hasn't been accepted or rejected. It turns out there is another offer on the table from someone else. We really like the house, but if our offer is accepted I'll feel very worried that the other people will gazzump us before we exchange contracts! Any tips or ideas? Thanks
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Comments
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Walk away and find another house.0
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Do you know what position this other buyer is in? If they are selling a property, they are potentially in a weaker position than you.
If you start getting played off against the other buyer, follow izzwizz's advice.0 -
Have you got your mortgage agreed in principle? Show the estate agent the letter from your lender, together with proof that you have the deposit ready.
Showing that you are 100% ready and able to buy ('proceedable' in estate agent speak) may be more importnat to the seller than offering a bit more money.0 -
Sparkles84 wrote: »made an offer which hasn't been accepted or rejected. It turns out there is another offer on the table from someone else.
Most likely the estate agent/vendor is lying to you and this mysterious other bidder doesn't exist. They are just trying to weaken your negotiating position.poppy100 -
the one we just bought had 2 other buyers who both offered 5 grand more than we did, except they could'nt raise the finance. The credit crunch is doing strange things.
personally I dont see why anyone would offer on a house without a rock solid mortgage offer in place
Mate of mine had an offer on his house and they had all the searches done etc (spent £800) and THEN found out they couldnt get the finance
!!!!!! is that all about?0
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