Viewed first house tonight - FTB
Discussion
Im looking at moving out with my girlfriend at the moment and viewed our first house tonight!
We have a healthy deposit, really liked the house we saw, it had everything and even more than we wanted! Viewing it again saturday with the parents.
Its just been dropped by approx 30k and we may make an offer which is around another 15 - 20k below that. The owner currently has no mortgage on the property and has also not been living in it for the past 8 months.
As ive never done this before, is this a wise idea or going in too low, as we have had a mortgage offer and of course have no upper chain.
ETA: House was dropped to £150k [if this makes any difference to you lot]
We have a healthy deposit, really liked the house we saw, it had everything and even more than we wanted! Viewing it again saturday with the parents.
Its just been dropped by approx 30k and we may make an offer which is around another 15 - 20k below that. The owner currently has no mortgage on the property and has also not been living in it for the past 8 months.
As ive never done this before, is this a wise idea or going in too low, as we have had a mortgage offer and of course have no upper chain.
ETA: House was dropped to £150k [if this makes any difference to you lot]
elster said:
mouseymousey said:
Why are you going back to view it with your parents?
Cut those apron strings!
As he has never had a house they may have more idea clearly.Cut those apron strings!
I was told if you don't cringe when offering. Offer lower.
I was originally thinking of offering a silly amount about 20k less.
Just done the same thing mate, going through the joys of solicitors paperwork and HIP's now, having an uncle who's a surveyor helps a bit though!
Offer what you think you'd pay for it, the worst they can say is no and you can raise the offer, its a buyers market although I think people are more likely to put off selling rather than accept lower prices. The flat we are buying had 10% knocked off asking the week before we bought it and we still got it for under that price.
Have fun!
Offer what you think you'd pay for it, the worst they can say is no and you can raise the offer, its a buyers market although I think people are more likely to put off selling rather than accept lower prices. The flat we are buying had 10% knocked off asking the week before we bought it and we still got it for under that price.
Have fun!
jimbo65 said:
mouseymousey said:
Do most first time buyers get their parents to give prospective houses the once over then?
NoAll things that I used to get a fair chunk knocked off my house with help of my dad (who's a QS).
Bit like buying your first car, much better to take a second pair of more experienced eyes.
no harm in taking along any number of things. I'm selling mmy house at the moment, and its amazing how little FTB know- they ask the wrong questions. Not things like "how much is the council tax" but "are the walls straight?"
"Tell me about loft conversions" when I dont have one, and dont know about them..
So get as much advice as you can. And put the low offer in- they'll onyl say no, and you can go back with a more sensible offer if they do
Good luck, and dont be afraid to ask difficult questions!
(mutters under his breath about trying to sell his 3 bed semi wth large garage for £110K and having no offers...)
"Tell me about loft conversions" when I dont have one, and dont know about them..
So get as much advice as you can. And put the low offer in- they'll onyl say no, and you can go back with a more sensible offer if they do
Good luck, and dont be afraid to ask difficult questions!
(mutters under his breath about trying to sell his 3 bed semi wth large garage for £110K and having no offers...)
h4muf said:
williamp said:
(mutters under his breath about trying to sell his 3 bed semi wth large garage for £110K and having no offers...)
Tell me about it!I`m trying to sell my one bed,end terrace with huge drive and a new boiler
fitted today for 60k and having no offers
Luke Pearson said:
Im looking at moving out with my girlfriend at the moment and viewed our first house tonight!
We have a healthy deposit, really liked the house we saw, it had everything and even more than we wanted! Viewing it again saturday with the parents.
Its just been dropped by approx 30k and we may make an offer which is around another 15 - 20k below that. The owner currently has no mortgage on the property and has also not been living in it for the past 8 months.
As ive never done this before, is this a wise idea or going in too low, as we have had a mortgage offer and of course have no upper chain.
ETA: House was dropped to £150k [if this makes any difference to you lot]
Good idea to take someone else to have a look & get a second opinion. Extra pairs of eyes & all that.We have a healthy deposit, really liked the house we saw, it had everything and even more than we wanted! Viewing it again saturday with the parents.
Its just been dropped by approx 30k and we may make an offer which is around another 15 - 20k below that. The owner currently has no mortgage on the property and has also not been living in it for the past 8 months.
As ive never done this before, is this a wise idea or going in too low, as we have had a mortgage offer and of course have no upper chain.
ETA: House was dropped to £150k [if this makes any difference to you lot]
Aside from the house itself, look at some basic stuff:
Any power lines or electricity substations nearby?
Road noise?
Rail noise?
Aircraft noise?
Any weird smells outside (local farms, council tips etc etc)?
Any industrial plants in the vicinity or within a 1-2 mile radius & if so in which direction?
Pubs/restaurants in the vicinity (i.e. noise at night)?
Secure parking?
Flood risk?
What's the light like inside the house - which way does the garden face?
Do the neighbouring properties look well cared for?
Any trees etc on the property that you would be responsible for & if so what condition are they in?
Any form of shared maintenance costs to be considered?
etc etc etc.
Money-wise: Go low & offer to complete quickly before house prices fall even further! If it gets refused ask them to make a counter offer (i.e. don't just keep adding to your offer cos the seller will sit there all day once you start doing that till he thinks you've gone as far as you can).
Good luck.
Always get a second opinion,
Put in a daft offer, you may well find the agent will come back and say "Our client will not accept your offer of X, but they will accept Y "
Gives you a good idea of what the vendor will actually accept. It also helps to state that if the offer is accepted, you would look to exchange and complete in 10 to 12 weeks.
Put in a daft offer, you may well find the agent will come back and say "Our client will not accept your offer of X, but they will accept Y "
Gives you a good idea of what the vendor will actually accept. It also helps to state that if the offer is accepted, you would look to exchange and complete in 10 to 12 weeks.
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