How do I buy a house ?
Discussion
The topic title sounds really dumb I know, but I'm a total noob when it comes to this....
Righty, I have been in the same house for the past 20 years so am well out of touch. I was in the process of buying a new build (with assisted sale), but they pee'd me off and I told them to ram it
So I'm back to marketing my house the old way, and looking for something to buy.
My main questions are: do I look at houses and make an offer if I see one I want ?
do I wait until my house sells before making any offers?
I have been looking and printing schedules off like a kid in a sweet shop, but I don't want to be stung if I can't sell quickly enough. I have had my Home Report done (at a hugely inflated cost, thanks to Redrow and their back-scratching surveyors). My house will be on the market at the start of the week.
What is the worst that could happen if say, I make an offer then have to pull out ?
All advice appreciated (I may well regret that
Righty, I have been in the same house for the past 20 years so am well out of touch. I was in the process of buying a new build (with assisted sale), but they pee'd me off and I told them to ram it
So I'm back to marketing my house the old way, and looking for something to buy.
My main questions are: do I look at houses and make an offer if I see one I want ?
do I wait until my house sells before making any offers?
I have been looking and printing schedules off like a kid in a sweet shop, but I don't want to be stung if I can't sell quickly enough. I have had my Home Report done (at a hugely inflated cost, thanks to Redrow and their back-scratching surveyors). My house will be on the market at the start of the week.
What is the worst that could happen if say, I make an offer then have to pull out ?
All advice appreciated (I may well regret that
Basically, unless you come across a very gullible vendor you will not get any offers accepted. They will simply say, thanks for your offer but we can't take the house off the market until you are in a position to buy i.e. you have a firm, accepted offer on your house and your buyers have been checked out to confirm they have a mortgage in place.
In this market you also might find that even if you do sell your chain may hold you back. So if say you sell to someone who's selling their house to someone else and they are all waiting for their individual chains to come good on one day.... well you might find you get passed up on the house you want for a person with cash or a single link chain. Makes sense?
So basically, get your place on the market pronto but if you find the house of your dreams don't expect it to wait for you.
In this market you also might find that even if you do sell your chain may hold you back. So if say you sell to someone who's selling their house to someone else and they are all waiting for their individual chains to come good on one day.... well you might find you get passed up on the house you want for a person with cash or a single link chain. Makes sense?
So basically, get your place on the market pronto but if you find the house of your dreams don't expect it to wait for you.
Edited by Olf on Friday 4th September 19:58
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