Please Help I Dont Know What To Do Now

ixwood

wrightstar wrote: »

Hi Kez100
..
I dont know amy other way to bring the price down!!!!!!!

Wait 6 months!!

mpsavuk

I really can't understand your urgent need to buy at the moment. It's like some kind of brainwashing!

Why don't you just rent a place meantime and see how prices pan out?

Bet you £500 they'll be a lot lower in 6 months time!

Think of your daughter. This is a costly purchase and you need to be very careful that you don't overpay at the moment.

You could end up as mortgage debt slaves and not be able to buy her all the little treats & extras in life that parents want to for their kids.

All you'll be thinking is "Can we afford this....can we afford that..."

Most of the time the answer will be "No".

wrightstar

unfortunately we cannot wait 6 months. we are in a position right now that means we need to buy in the next 3 months or not at all.
its not ideal to buy now, we know this but dont have another option sadly.
thanks for the replies though. i really appreciate them

Kez100

I am a bit concerned you say you have to buy now or not at all. Why is that? Are you expecting a drop in income?

wrightstar

no i am a council tenant with a good steady imcome.
we have been given an incentive to leave our flat and buy our own property.
the offer is only valid for 3 months and at the moment we both earn good salaries and have permanant roles. so are in a great position to move on.
we cannot have the offer extended at all so its now or never unfortunately.

Kez100

OK. Remember you are asclose as they can get to a perfect buyer really. Apart from fully cash and there aren't many of those around. You should be hankering for a brilliant deal. Good luck in sealing one.

wrightstar

Thanks Kez.100
I couldnt wait any longer so called careys today.
I explained that our mortgage is for 90% (£162k) meaning if we buy it at £180 we'll not have enough to pay the deposit.
They wont except any lower than £171 apparantly!!!!!
They are getting back to me tomorrow to say yes or no to my new offer of £171k.
Fingers crossed they will say yes. I know im probably paying way to much for the house as prices are falling drastically but its now or never.
My solicitor has my mortgage offer on his desk (arrived via fax) and my own hard copy will be here tomorrow so we are ready to sign and get the ball rolling asap.
Just hope we get it for £171.
Careys arent offering free carpets and the other builders are. How can I get these added on, shall I wait for them to call and say they'll except our lower offer and then mention it casually?????
I certainly dont want to move in with out any carpets.

Kez100

When they say 171k repeat the offer you have requested back to them BEFORE you agree......include carpets in that list.

You ringing them up is not doing you any favours, you know. I know you feel you are in a desparate hurry and you don;t seem to care but it is '000s we are talking about. Ask yourself, how long does it take you to earn £5000 after tax?
I am also concerned that you are not concerned about overpaying. It's not my job to tell you what to do but I do fear for your 'don't care about overpaying' attitude which may change once you are in and the shiny new taps need cleaning.

How much incentive are you being given, if you don't mind me asking? It's just, if it is massive I might revise my opinion toward the reason underlying your rushing a bit!

wrightstar

I care an awfull lot that I may be paying too much for the house, but as I only have 3 months to buy and leave my flat i feel a bit stuck on how to get the house at a better price. This is the home we really want and dont intend on selling, but then again you never really know what lies around the corner and the price dropping dramatically will be a huge blow if we do need to sell up!!!
Your advice makes so much sense regarding calling them up. Im going to leave it to them now. Afterall I am in a better position than them i suppose.
My local are giving me a grant of £26k ( £8k more than my annual salary at the moment ) so that they can give my home to a homeless family. The offer is huge and very hard to say no to. The rent I pay on this flat is almost the same as my half of the mortgage. My other half rents his own place now also so our combined rent is exactly the same as our mortgage repayments (for the next two years anyway).
I dont mean to sound blahzay about the whole thing. I am honeslty thinking about this all day and and night, wandering if this is the right time or the right move completely.

davidla

Hi - well firstly good luck with everything! It's really tricky when negotiating a price on a house, especially if you really like it. My advice (for what it's worth and it might be too late!) is to be a bit more confident and a bit more dispassionate -act like you like it but if you don't get it's not the end of the world. If you say you will call them in a week, then call them in a week! Think about what you want from them and then practice saying it (and possible counters to their replies) You are in a stronger position, don't weaken it.
David