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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

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

184 replies

CeaseAndDesist · 28/01/2021 14:51

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 posts:
Original poster
CeaseAndDesist · 28/01/2021 14:52

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 posts:
Tier10 · 28/01/2021 14:52

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

Comefromaway · 28/01/2021 14:54

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 · 28/01/2021 14:54

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

Candleabra · 28/01/2021 14:55

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.

Original poster
CeaseAndDesist · 28/01/2021 14:55

@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 posts:
AStudyinPink · 28/01/2021 14:56

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 · 28/01/2021 14:56

@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.

Original poster
CeaseAndDesist · 28/01/2021 14:57

@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 posts:
Dutchesss · 28/01/2021 14:57

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

BluebellsGreenbells · 28/01/2021 14:57

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 · 28/01/2021 14:57

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 · 28/01/2021 14:58

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

Original poster
CeaseAndDesist · 28/01/2021 14:59

@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 posts:
Coriandersucks · 28/01/2021 15:01

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 · 28/01/2021 15:02

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

LetMeOut2021 · 28/01/2021 15:02

Go for it OP.

ShalomToYouJackie · 28/01/2021 15:12

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 · 28/01/2021 15:14

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 · 28/01/2021 15:14

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 · 28/01/2021 15:15

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 · 28/01/2021 15:17

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 · 28/01/2021 15:18

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

GenderApostate19 · 28/01/2021 15:18

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.

CuppaZa · 28/01/2021 15:19

@Turnedouttoes that was my concern.