Just had a confirmed morgage offer!

[BrotherMalice]

Well just had a call from the estate agent, they told me that ideally the seller is looking for more than our offer but will have a look tonight for somewhere to move within the budget of what we are offering, while its not bad news its not good news either, hoping they will get back to me by Wed now. Think this sale could take a while...

 

[calumscott]

Well just had a call from the estate agent, they told me that ideally the seller is looking for more than our offer but will have a look tonight for somewhere to move within the budget of what we are offering, while its not bad news its not good news either, hoping they will get back to me by Wed now. Think this sale could take a while...

Not bad news at all. We did *exactly* this when we were selling/buying. Got an offer a couple of grand less than we ideally wanted but managed to get an offer in and accepted on the new place *just* in budget so then accepted the offer knowing the numbers stacked up.

Sit tight, try not to chew the fingernails past the quick, and ask the estate agent to keep you in the loop with what they are doing.

 

[jonewer]

Good luck! Dont forget that negotiations are a game. The agents play this game the whole time and may try and play you by making you sweat for a couple of days.

Its a horribly stressful time but worth it in the end. :thumb:

Mortgage free as of June last year :party:

 

[Moley]

Next Year I will be Mortgage Free :party: :party: :party: :party: :party: :party: :party: :party:

Mortgage free as of June last year :party:

We're not entirely free from our interest only mortgage just yet but have been making regular overpayments for the last few years and the capital is virtually paid off. However, they want to charge us £250 for early settlement :evil:

Well feck'em! They can continue to take our minimum required payment of £1.12 a month until we're allowed to repay the remaining capital without penalty.

The very best of luck BM :thumb:

 

[jonewer]

Top house buying tip -

When you're buying a house, its probably the most important thing in your life at the time but to the solicitors and EA's its just another day at the office so once you have had your offer accepted, establish direct contact with the sellers. Doing this means you can communicate directly about any conveyancing issues that might arise without having to depend on estate agent and solicitors.

 

[calumscott]

Top house buying tip -

When you're buying a house, its probably the most important thing in your life at the time but to the solicitors and EA's its just another day at the office so once you have had your offer accepted, establish direct contact with the sellers. Doing this means you can communicate directly about any conveyancing issues that might arise without having to depend on estate agent and solicitors.

Second tip: When you do this, always make your solicitor follow up with the paperwork! Also, be careful about *what" conveyancing issues you discuss directly - there are some things (indemnities for example) that can leave both you and the vendor in the poo if you get it wrong, your solicitor is trained in how not to f**k it up (and if they do then they're liable not you)...

Actually I did this when selling mine, dealt directly with the buyer as their solicitor was pony. She was very appreciative and things got done. I didn't with the buying as their solicitors were also pony and the vendors were a bit wooly - left it all to my (exceptionally good) solicitor.

 

[narmour]

The best tip I can give you is... Don't believe a word the thieving b**tard estate agent says. they are spawn of satan every one. Make your offer and be prepared to walk away.

When I was buying my house, they told me that the vendors needed another £2,500 on my offer (it was quite a cheeky offer fair enough, but was based on an offer which the vendor had previously accepted before the sale fell through) or they wouldn't be able to afford the house they were buying. She also said I needed to be quick as someone else had booked a second viewing that night, so if I made a higher offer she would cancel them. So I made the higher offer. I went round in the following weeks to measure up for sofas and curtains and the like and the fella told me they were moving into rented accommodation and there hadn't been anyone else interested in the house! :hmm:

 

[alawlor66430]

Muthaf***ers, that would really have made me mad !!!!!!!!

 

[calumscott]

Oh yes. They don't call them land sharks for nothing!

The one that sold mine was such a lazy f**ker that when I got an offer a couple of grand lower than I wanted they told me that the other person who had expressed an interest and subsequently declared they were looking at something bigger and were no longer interested.

I accepted the offer.

A week later, we bumped into that other party who declared himself "gutted" that we had sold it...

...needless to say the estate agent was paid very little indeed under threat of me telling head office what he was up to. Basically I got sold up for just the price of the photographer and the EPC!

 

[Wendy1971]

Next Year I will be Mortgage Free :party: :party: :party: :party: :party: :party: :party: :party:

Mortgage free as of June last year :party:

We're not entirely free from our interest only mortgage just yet but have been making regular overpayments for the last few years and the capital is virtually paid off. However, they want to charge us £250 for early settlement :evil:

Well feck'em! They can continue to take our minimum required payment of £1.12 a month until we're allowed to repay the remaining capital without penalty.

The very best of luck BM :thumb:

What a cheek i say feck them as well :lol: :thumb:

 

[jonewer]

Top house buying tip -

When you're buying a house, its probably the most important thing in your life at the time but to the solicitors and EA's its just another day at the office so once you have had your offer accepted, establish direct contact with the sellers. Doing this means you can communicate directly about any conveyancing issues that might arise without having to depend on estate agent and solicitors.

Second tip: When you do this, always make your solicitor follow up with the paperwork! Also, be careful about *what" conveyancing issues you discuss directly - there are some things (indemnities for example) that can leave both you and the vendor in the poo if you get it wrong, your solicitor is trained in how not to f**k it up (and if they do then they're liable not you)...

Actually I did this when selling mine, dealt directly with the buyer as their solicitor was pony. She was very appreciative and things got done. I didn't with the buying as their solicitors were also pony and the vendors were a bit wooly - left it all to my (exceptionally good) solicitor.

Just for clarity, I'm not suggesting you do the conveyancing yourself but for chasing stuff up and making sure both you and the seller know whats going in, its much better to have direct contact than relying on messages through agents/solicitors

 

[BrotherMalice]

Well the estate agent have come back today saying that the vendor wants 2k more than we have offered and they are looking at another house on friday, we have decided that we are not going to pay over what we have offered.

When I spoke to the estate agent I made it clear that we are at the top end of our budget but I would see if I could do anything, not sure now if I should call them back and tell them that we cantwont do the extra 2k or wait for them to call me back.

 

[Wendy1971]

yes i would ring and tell them then you and your wife can move on to see other propertys thats a shame though they never exepted your offer :thumb:

 

[alawlor66430]

The best tip I can give you is... Don't believe a word the thieving b**tard estate agent says. they are spawn of satan every one. Make your offer and be prepared to walk away.

When I was buying my house, they told me that the vendors needed another £2,500 on my offer (it was quite a cheeky offer fair enough, but was based on an offer which the vendor had previously accepted before the sale fell through) or they wouldn't be able to afford the house they were buying. She also said I needed to be quick as someone else had booked a second viewing that night, so if I made a higher offer she would cancel them. So I made the higher offer. I went round in the following weeks to measure up for sofas and curtains and the like and the fella told me they were moving into rented accommodation and there hadn't been anyone else interested in the house! :hmm:

Going by this post I would be tempted to call the agents bluff or request contact with the vendor

 

[BrotherMalice]

The best tip I can give you is... Don't believe a word the thieving b**tard estate agent says. they are spawn of satan every one. Make your offer and be prepared to walk away.

When I was buying my house, they told me that the vendors needed another £2,500 on my offer (it was quite a cheeky offer fair enough, but was based on an offer which the vendor had previously accepted before the sale fell through) or they wouldn't be able to afford the house they were buying. She also said I needed to be quick as someone else had booked a second viewing that night, so if I made a higher offer she would cancel them. So I made the higher offer. I went round in the following weeks to measure up for sofas and curtains and the like and the fella told me they were moving into rented accommodation and there hadn't been anyone else interested in the house! :hmm:

Going by this post I would be tempted to call the agents bluff or request contact with the vendor

I just spoke with my father and he suggested contacting them too dont know their name but we know where they live...

 

[calumscott]

Yep, ring em.

The vendors are either serious or calling your bluff. You hold all the cards if that 2k is over your price for their house.

Just go back and say that your previous offer was your last and final one and that you will now be looking for other properties.

The vendors will either say, "really, we need to sell at X + 2k, sorry" or will move and maybe come back with, "X + 1k?". If they move, say no, they will sell at your offer price, if they don't, get back on RightMove. :thumb:

 

[BrotherMalice]

Well I called them and said that it was our final offer, the vendor is viewing another property on Friday so we will see then....

Wish me luck (I really want this house, if it had been just down to me I would have given them the 2k...)

 

[Wendy1971]

Well Good Luck and fingers crossed they will accept your offer :thumb:

 

[calumscott]

Aye, bide your time and let them sweat on it.

Rules 3 through 10 are all the same. Never pay over your initially decided limit!

There is every likelihood that they might find their ideal property, it might be in budget on what you've offered and they know you're keen. They won't jeopardise their purchase to wait for another buyer...

You've got nothing to sell have you? That makes you a better buyer - if they find something then you are ideal for them because you don't have to arrange a buyer. I presume all this has been stressed to them?

 

[BrotherMalice]

Yup, currently renting, have made that very clear that we are literally just waiting to move into their house but also that it is the limit of our budget. If we dont get this one there are other houses that we can look at & I made it clear to the estate agent that we need to know one way or the other so we can keep looking for another house. I think that we will get it but I dont want to get excited yet.