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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask for house buying advice?! I might be doing it today 😬

26 replies

IsolaRossa · 09/09/2019 10:24

So... We found a house we love.

Our area moves FAST. Most houses don't make it onto Rightmove or Zoopla. We viewed a house at the weekend that the previous sale fell through - they've reduced the price by £12k. We want to make an offer...

How do I do this? Email to the estate agent? We've had all comms via email so far... Fiancé wants to offer £10k less than the new price and see if there is interest but I'm worried about annoying the seller. Is that reasonable as a first offer?

I've never done this before. I wasn't sure we would be in a position to yet, but we have a mortgage in principle.

I'm scared and excited!

OP posts:
RedHelenB · 09/09/2019 10:26

If housing moves fast and they've already lowered the price I'd go for full asking price( if you think its worth that) and them taking it off the market.

RedHelenB · 09/09/2019 10:26

And I'd ting the estate agents.

WaterSheep · 09/09/2019 10:27

If houses move fast and you love it I would ring up and offer the asking price. The sellers have already reduced it by 12K, I can't see them reducing by another 10k when the housing market in your area is so buoyant.

Mrsgogginsthe3rd · 09/09/2019 10:28

Telephone. So your DP wants to offer 22k less than the original listing price?? Mmmm you can try it but I have a feeling the 12k reduction represented what they were willing to accept from the previous buyers. Depends on many factors. Sound the estate agent out first but obvs they’ll want to get the best price.

hittheroadjack1 · 09/09/2019 10:28

^^
This

Original poster
IsolaRossa · 09/09/2019 10:34

Thank you all!

I agree, I think. I don't want to lose it because we tried to save £8k really... I'm going to call him and then them!

I'm so nervous about this.

OP posts:
BlueLadybird · 09/09/2019 10:36

Sort yourself out with a good solicitor and you’ll look more serious.

Original poster
IsolaRossa · 09/09/2019 12:13

I think we'll go with the solicitor that my other half used when he bought here - he's sending us the agreement now.

I've made the offer. Nervously waiting for a response now!

OP posts:
incontrolofmyownlife · 09/09/2019 12:35

Ooo a live house buying thread Grin

Good luck OP 🤞🏻

PinkyPrincessy · 09/09/2019 14:37

Good luck with your offer!!!

RednaxelasPony · 09/09/2019 14:39

Did you get a response yet?

tommycockles · 09/09/2019 14:44

Best of luck!

StillMe1 · 09/09/2019 14:49

I can feel the nerves going here. It is such a stressy thing but also very satisfying once it all comes together

Travis1 · 09/09/2019 14:51

Good Luck!

fishonabicycle · 09/09/2019 15:00

Be careful about money transfer (when you get there). A friend lost her £70k deposit through fraudsters hacking email and changing bank details x

MRex · 09/09/2019 15:12

Good luck. Ask early on if there's anything you want left behind; curtains / a particular table etc. You could make it part of your original offer.

Make sure you get a good survey done, your mortgage company will line up their preferred surveying firm for you.

Original poster
IsolaRossa · 09/09/2019 16:11

A negotiator just called me back and has suggested not putting an offer in as our property isn't yet on the market... he'll come out and we can list it tomorrow, but he's suggested holding off making an offer for now and just letting the couple know that we're interested.

Does that sound right? He said I could go ahead and ignore his advice if I wanted to... I can't get hold of fiancé to ask.

I really don't want it to be sold while we're waiting - we think our flat should sell okay, similar ones have gone fast and we've got the MIP.

OP posts:
FrauHaribo · 09/09/2019 16:18

Well, the buyer might have advised that they only wanted to hear form serious offers. Yours isn't if your property is not even on the market.

Otherwise the EA is legally obliged to forward your offer. Telling someone you are interested without making a firm offer is completely pointless, so it's an odd advice.

NE14T · 09/09/2019 16:18

I'm not sure why he'd suggest you wait to put an offer in Confused

Though you have to be prepared that the sellers may not take it off the market till you have an offer on yours. That's standard where I am- particularly if the last sale fell through, they might just want a quick sale.

So I'd put an offer in and keep my fingers crossed! Good luck.

maxelly · 09/09/2019 16:19

The fact that your house isn't yet on the market makes you a less attractive buyer certainly (the ideal buyer has cash or has nothing to sell, followed by someone whose house is sold, followed by someone who is on the market). There's always a suspicion where someone is making an offer without taking active steps to make themselves proceed-able that they could be a timewaster or have got their sums terribly wrong based on an overinflated estimate of their current property's value - but it doesn't mean you can't make the offer, especially if you are going to offer asking price or near it.

It will depend a bit on what the seller wants (quick sale or more money) and what other offers they have or are expecting to receive. If they really need a quick sale they might be prepared to accept a lower offer from someone who is likely to proceed quicker but there's not much you can do about that really. If you can provide assurance you are serious about selling your flat and expect to sell it quickly that may help. I'd probably still go ahead and make the offer but maybe expect them to not take it off the market straight away or until yours is at least on the market.

MRex · 09/09/2019 16:25

I wouldn't be even slightly interested in an offer from someone who had a property to sell and no offers on it. You need to get that side sorted out or the seller won't be able to decide. If it can sell as quickly as you think then no problem, you might need to put the brakes on if your preferred property fell through but you can't expect someone to take their house off the market when you might not sell your flat for years.

Didiusfalco · 09/09/2019 16:27

I’ve sold my house recently and I must say I would have considered that someone who hadn’t sold (particularly if not on the market) couldn’t make a ‘proper’ offer. I also live in an area that is still fast moving property-wise and I had enough proceed-able interest not to have to consider anyone who wasn’t in a good position.

FrauHaribo · 09/09/2019 16:37

the ideal buyer has cash or has nothing to sell, followed by someone whose house is sold, followed by someone who is on the market)

disagree slightly.
A cash buyer won't have spent anything at the start of the process so will be more likely to change his mind until they do at least a full survey. At least someone will a mortgage pays for mortgage approval, mandatory survey and so on early on, so are much more likely to be reliable!

maxelly · 09/09/2019 16:40

True, have been messed around by time-wasting cash 'buyers' in the past, and also been told someone is a cash buyer when accepting an offer only to discover they are nothing of the sort further down the line! I think most people would agree no chain is ideal though...

Original poster
IsolaRossa · 09/09/2019 16:42

Fair enough, thanks for all the comments - our flat isn't for sale because generally, we're alright here, and houses that we like come up rarely! We got the mortgage in principle sorted last night, and can list the flat tomorrow, and we tend to get a fair amount of speculative offers on the flat so I hope it'll sell fast. But I can see that from their side, it may well feel like they are waiting around and they'd rather sell to someone who has that all worked out.

I can so imagine living there, it's a beautiful house. Maybe next time!

OP posts: