Talk

Advanced search

To make an offer on this house even though we won't be able to move in for another 6 months?

(184 Posts)
CeaseAndDesist Thu 28-Jan-21 14:51:01

I've fallen in love with this house:

swoon

We were planning to move after ds has completed A-levels this summer. Obviously there is uncertainty around what form these will take, but we didn't want to disrupt him until they're done and dusted either way.

But I am a little bit gutted because this place has everything we'd be looking for - size, style, location, budget - and these sorts of properties tend to go quickly.

We could, probably, get a mortgage for it. We are FTBers so no chain. We currently live with family.

I'm completely insane, right?

OP’s posts: |
CeaseAndDesist Thu 28-Jan-21 14:52:23

When I say 'we could probably get a mortgage', we could, but later in the year we will also have a much bigger deposit.

OP’s posts: |
Tier10 Thu 28-Jan-21 14:52:57

Could you buy it now and move in when you are ready?

Comefromaway Thu 28-Jan-21 14:54:11

it'll take about 4 months for a sale to go through anyway and I believe there is a delay on searches at the moment. So 6 months is not unreasonable.

AStudyinPink Thu 28-Jan-21 14:54:16

You can’t offer on a house when you’re not in a position to proceed.

Candleabra Thu 28-Jan-21 14:55:09

Is it far away from where you're living currently? What's stopping you from proceeding if money no object, and you have no sale? You don't have to move in as soon as you complete.
To be honest, sales are taking so long that it may be nearly August by the time it's completed if you offer now.

CeaseAndDesist Thu 28-Jan-21 14:55:26

Tier10

Could you buy it now and move in when you are ready?

Yes that's my thinking.

We are technically in a position to proceed. Just not actually live in it.

OP’s posts: |
AStudyinPink Thu 28-Jan-21 14:56:41

So you could buy it (completing and exchanging) and pay the mortgage, leaving it empty? Go for it.

We needed a decision in principle before we could make offers, though, from memory.

Comefromaway Thu 28-Jan-21 14:56:54

CeaseAndDesist

When I say 'we could probably get a mortgage', we could, but later in the year we will also have a much bigger deposit.

In which take out a mortgage that allows you to make overpayments with no penalties.

The sale of our house last year fell through. In order not to lose our purchase we took out a mortgage on an interest only basis temporarily. We made the offer in September, completed 31st January and moved in March. Our house sold the following September and we paid the mortgage off with the proceeds. As a first time buyer you won't have the claiming back stamp duty complication that we had.

CeaseAndDesist Thu 28-Jan-21 14:57:08

Candleabra

Is it far away from where you're living currently? What's stopping you from proceeding if money no object, and you have no sale? You don't have to move in as soon as you complete.
To be honest, sales are taking so long that it may be nearly August by the time it's completed if you offer now.

Yes it's quite far. Too far for dh to get to work (he is a teacher, will look for another job when we move) and ds to get to college. I wfh.

Hence why we were not going to do anything until the summer. But my rightmove habit has got the better of me...

OP’s posts: |
Dutchesss Thu 28-Jan-21 14:57:41

Why would you post the link on mumsnet if you really want the property? Makes no sense to advertise it....

BluebellsGreenbells Thu 28-Jan-21 14:57:57

Agree it will take months to actually move.

Put in an offer and see what they say.

Then you could have a couple of months to decorate and move in.

Exams may well be in June so 5 months - they’ll have study leave before anyway.

Are they Cambridge exams because others aren’t going ahead so being local will be irrelevant anyway

ShalomToYouJackie Thu 28-Jan-21 14:57:58

We are technically in a position to proceed. Just not actually live in it.

Then buy it and move in when you're ready. If you're living with family and don't have a chain then do that.

Changemaname1 Thu 28-Jan-21 14:58:08

As long as u can actually buy it so the sellers can move on then of course go for it , it will prob take a while anyway as these things always seem to

CeaseAndDesist Thu 28-Jan-21 14:59:33

Dutchesss

Why would you post the link on mumsnet if you really want the property? Makes no sense to advertise it....

I assume other people searching for houses also have access to rightmove... grin

OP’s posts: |
Coriandersucks Thu 28-Jan-21 15:01:26

I’m getting my head around what that last photo is - have they tried to stitch together photos of all the rooms so it looks like a 3D image??

It’s just taken us 6 months from offer to completion on our new place so I would go for it.

CuppaZa Thu 28-Jan-21 15:02:10

If you are living with family and can afford the mortgage payments, go for it.
Are you familiar with Ramsgate at all?

LetMeOut2021 Thu 28-Jan-21 15:02:27

Go for it OP.

ShalomToYouJackie Thu 28-Jan-21 15:12:21

Just seen that property has no chain and neither do you so as long as you can afford to buy it then I'd go for it ASAP

sunflowersandbuttercups Thu 28-Jan-21 15:14:26

If you can stay with family until the summer, then why wouldn't you buy it? I don't see why it matters whether you move in on completion day or six months later confused

Tier10 Thu 28-Jan-21 15:14:59

I’d go for it if you can afford it. Property hardly ever works out perfectly timing wise. You’ll probably only have a couple of months of paying for it and not living there.

Turnedouttoes Thu 28-Jan-21 15:15:30

If you live far away do you actually know what Ramsgate is like? It’s not somewhere I’d be paying £400k to live but each to their own

Playnoh Thu 28-Jan-21 15:17:36

If you’re in a position to proceed then yes go ahead! You said at end of year you’ll have much bigger deposit, why don’t you just pay off a chunk of your mortgage when the bigger deposit money comes through?

WonderEwe25 Thu 28-Jan-21 15:18:09

Am I the only one that is baffled at a price tag of 400k for a terraced house?! shock

GenderApostate19 Thu 28-Jan-21 15:18:34

They won’t take an offer without a DiP and you instructing conveyancers.
Agents acting for us selling a property have insisted our buyers show proof of funds and DiP etc.
DD has just started the buying process and had to provide the same details to their agent.

Join the discussion

To comment on this thread you need to create a Mumsnet account.

Join Mumsnet

Already have a Mumsnet account? Log in