Active discussions

Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Original poster

Help me buy a house

73 replies

PaintingOwls · 07/10/2018 16:14

FTB here. My property experience starts and ends at watching Location Location Location.

DP and I have been looking for a house for months. Everything has been wrong. Yesterday we went to see a bit of a wildcard which is £50 under budget and I love it so much I think I'm going to throw up.

It's the smallest property we've seen but the location is wonderful (close to where we rent, which is an area we love). All the other places we've seen have been bigger but in soulless estates miles from here. It's a 2 bed house but I reckon we could re-jig downstairs to fit a bedroom should we need an extra one.

I don't know what to do from here.

Make an offer? Under the asking price? Bang on the asking price to secure it? Shall I demand it be taken off the market? Shall I play it cool and ask for a second/third viewing???????

Just to clarify, I spoke to the bank last week and my mortgage advisor said he's happy to put us forward to a mortgage subject to a credit check, valuation, etc.

So the financial side is fine, I just don't know how to proceed from here. Hoping for a bit of direction from people who have been there and done that.

OP posts:
sbplanet · 08/10/2018 10:55

To me it looks very liveable - afterall the seller lives there! If you want to waste more money on rent, then you could do the work and then move in. But I'd live with it. The positives of that is living in a property before working on it makes it easier to decide what works and what doesn't before you alter things.

Your mortgage survey will probably find most flaws, and as I said if there's any major unforeseen costs you can go back with a lower offer.

If you intend staying there a while then it'll be easier to take your time doing stuff. Flat roofs can be a pain, but they're not necessarily a huge amount to re-roof. We had ours done over our garage and utility room. What I'd say is pick someone local and a proper trade to do the work as although they'll all offer differing guarantees on the roof that's only any good if they're still in business and/or easy to get to return.

As MrsPatmore says it'd be silly to lose a house you like so much for £5-10k especially when there's value to add, so you're not really losing money.

Have you spoken to the estate agent and asked if there have been offers? They will tell you. They might not say how much, but you can get a hint by asking if close to 'asking price' etc. Do that before offering.

Original poster
PaintingOwls · 08/10/2018 11:27

Is this the first house you've looked at OP?

No, we've seen maybe a dozen?

Initially we were looking in the Carshalton area for DP's work but it's so soulless and there's hardly any green space etc.

We rent nearby and this is the first house near our current flat that we've looked at as it's the only one within budget.

OP posts:
WhatsGoingOnEh · 08/10/2018 11:42

That's a bargain for Molesey. Snap it up!

WhatsGoingOnEh · 08/10/2018 11:45

I've sold two houses and bought one. My advice:

  • Offer a realistic amount. If you sling in a really cheeky offer, it's just a waste of everyone's time.
  • Get a Mortgage In Principal ASAP; many estate agents wouldn't take a house off the market for someone who hasn't even started the paperwork on a mortgage.
  • If it's meant to be yours, it will all work out, so don't stress. But DO proceed speedily; until you've exchanged, you have no security whatsoever so definitely don't want to drag your heels.
  • Get a solicitor who offers "no sale/no fee". Many very good solicitors offer it. It'll save you hundreds of anything goes wrong.
  • Good luck!
TokyoSushi · 08/10/2018 11:52

I'd go quite low on that and stress heavily that there's a lot of work to be done, maybe in the high £290K's as an opening bid.

I'd definitely have a full survey as well, it looks damp even from the pictures! Not because you're not going to buy it but just so you know exactly what's involved.

I can feel your excitement though - hope it all works out!

TokyoSushi · 08/10/2018 11:54

Hopefully you'll be able to join us on the 'waiting to exchange' thread very soon!

hlr1987 · 08/10/2018 12:07

Before you get carried away- no estate agent I've ever spoken to has put forward an offer until they've seen a mortgage in principle. It takes half an hour online then you can have a copy to email when you offer. You will also need a copy of your ID and your partners to email over as well ( or time to go in and get the estate agent to photocopy it). Get a second viewing.
But if the work doing is possible for you (it is guaranteed to cost more than you expect) and you wouldn't hesitate to buy a completed house on the same street, then go for it. We took a surveyor with us to a second viewing once (a family friend) and no one batted an eyelid. I'd be hugely suprised if you found a builder you didn't personally know to go with you to view a house you didn't already own at short notice, they're quite in demand.

Original poster
PaintingOwls · 08/10/2018 14:21

Ok I have a relative who is a builder and will come with me for a second view.

As soon as I mentioned this on the phone to the estate agent she said there are a lot of people interested in putting in an offer ... I assume she's just trying to put a rocket behind me?

OP posts:
sbplanet · 08/10/2018 14:40

Did you ask if there'd been any actual offers rather than just interest?

Original poster
PaintingOwls · 08/10/2018 15:04

sbplanet

Yes and she was quite vague, going on about all the interest from this weekend, which I find bizarre - why is this happening this weekend after 2 months on the market? I'm guessing she was bluffing, but who knows.

OP posts:
sunglasses123 · 08/10/2018 15:21

Yes, bluffing I suspect. However the seller only needs one person. Last weekend wasn't something special. Why all the interest and people rushing to make an offer.

Why don't you take your builder friend and see what they say. The market is very funny at present. Not much on the market and although the papers say Brexit etc is stopping people there is always something isn't there. the weather, an election, Brexit, mortgage rates etc. Don't be one of those people who often appear on LLL who dither about and end up buying nothing AFTER 2 YEARS!

sbplanet · 08/10/2018 15:30

If she was vague then they've had no offers. You'd want to yes but they turned them down or yes but they can't proceed, etc. Not 'no offers'.

In which case after you've had your second viewing (when is it?) and you're still keen I'd pitch a low offer, based on the amount of work needing doing, etc. But I wouldn't overplay that as they'll undoubtedly say it's priced accordingly.

pepperjack · 08/10/2018 17:01

No-one will accept an offer without a mortgage in principal, you're getting a bit ahead of yourself. Get the application going for the mortgage. Not just the mortgage advisors sayso

WhatsGoingOnEh · 09/10/2018 10:20

I agree. Get the mortgage! It's a real faff these days and you usually get about 5% of what you thought you could borrow 😆 so it's really worth doing. Mortgage offers are valid for 6 months. It's worth doing it.

Original poster
PaintingOwls · 09/10/2018 11:29

Fuck. I called about arranging a viewing with the builder and it's gone under offer Sad

OP posts:
Original poster
PaintingOwls · 09/10/2018 13:46

Apparently the offer accepted was under the asking price but not a million miles away... I don't want to put in an offer without a builder looking at it but nor do I want to lose it... What do I do? Sad

OP posts:
pepperjack · 09/10/2018 14:11

You could tell the estate agent that you might put an asking price offer in, but they will take all of your circumstances into consideration and if you haven't actually got your mortgage in place they're not going to take you seriously or accept an offer.
Of course you could lie, but a good estate agent will ask for proof of funds

Original poster
PaintingOwls · 09/10/2018 14:15

I've called twice today already, they probably think I'm crazy/unhinged/desperate.

They said they have to stop marketing it but I'm not sure how allowing a second viewing is marketing! Maybe it's my inexperience showing...

OP posts:
sbplanet · 09/10/2018 14:26

Maybe it's time to be honest? Just tell them you really like the place and where thinking of putting in the asking price but had hoped to get it checked over by a builder first as you're FTB. Ask if the seller still has the property on the market or has the seller accepted the offer? Then ask if they'll let you have a second viewing if the offer hasn't been accepted.

keepingbees · 09/10/2018 14:38

Allowing viewings is marketing the property. They shouldn't do it if an offer has been accepted, but also the buyer may have made it a condition of their offer.
It sounds like it's gone I'm afraid, although many sales fall through so it would be worth you registering your interest and asking for first refusal if it becomes available again.

Original poster
PaintingOwls · 09/10/2018 14:43

So should I email them now or cool it and send email tomorrow, later this week? I'm reluctant to call again as I get flustered and my brain falls out.

God this is so stressful.

OP posts:
sbplanet · 09/10/2018 14:51

Phone them, be straight with them - what's to get flustered about?

Ask them why they're still doing viewings if the offer has been accepted.

Oblomov18 · 09/10/2018 15:00

Oh dear. I'm not surprised. Houses in this area get snapped up quickly.

For those asking, tonnes of houses in this area have flat roofs.

What stage are you at with your mortgage application?

WhatsGoingOnEh · 09/10/2018 15:00
  1. Call/email the estate agent today and say you love the property and definitely want to know if the sale falls through.
  1. Sort your mortgage out!!! Seriously.
  1. Keep the faith. Believe. Ring estate agent every week to see if it falls through. This is no time to try to look cool. Look keen! My dad got a particular (almost sold) house by telling the estate agent to keep him in mind if it fell through.
WhatsGoingOnEh · 09/10/2018 15:01

Ask them why they're still doing viewings if the offer has been accepted.

They're not...