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First time buyers, accidentally set our heart on a house

67 replies

lazymumsmh · 07/04/2019 19:37

It will be our first time buying, we have seen the post perfect 3 bed, semi detached house that ticks every single one of our boxes. Its been listed since start of Feb and had no offers but apparently "gaining more attention now."

Its on at £260k or offers above, which is the top, top end of our budget. We are lucky enough that we won't need a mortgage - cash buyers - and come from rental so have no chain. We are thinking of offering £255k. What do you all think?

Something that worries me is that the vendor hasn't yet found a property, so I wouldn't think they were in a rush to sell, but then again - once they've sold they might feel more comfortable putting offers in themselves. The vendor was allowing up to 6 viewings a day, which seems quite eager to sell to me. I don't know - I'm new to all this!

Basically, I'm trying not to get excited about it, I realise we probably won't get it, but do you think there is a good chance?

To make matters more complicated we have to leave our rental on 4th July or else we are bound to stay here another full year.

OP posts:
nrpmum · 09/04/2019 12:53

2.5k over your initial bid is not bad. If you do decide to go higher make it sound like that is literally every penny you have.

lazymumsmh · 09/04/2019 13:05

We've agreed at £257.500 ! Offer accepted!

OP posts:
PCohle · 09/04/2019 13:13

Congrats OP! Thanks

mclady · 09/04/2019 13:28

Find out when they want to have sold by. A house is only worth what someone is prepared to pay for it and if you really want this house as much as you say you do, then offer what you can afford. I recently purchased a house that went to best and final offers. It was a house I desperately wanted and so I offered what I could afford which was 5k over asking. I found out afterwards that someone else had offered 4.5k over asking, I'd have kicked myself if I'd lost a dream house for the sake of £500.

WBWIFE · 09/04/2019 13:38

Congrats OP!

AllTheFunAndGames · 09/04/2019 13:38

Well done! Time to get everything else in order now. You're on your way. Smile

Bluntness100 · 09/04/2019 14:25

Congrats you just bought your first home! 🥂🥂🥂

MrJollyLivesNextDoor · 09/04/2019 14:44

Woohoo 🎉 congratulations 🏡

lazymumsmh · 09/04/2019 15:22

Thanks everyone, now I'm just shit scared that something will go wrong along the way and we'll lose it somehow Sad I suspect a lot to come but if it takes 12 weeks that'll take us to 1st July, which would be perfect. Unlikely! but perfect.

OP posts:
WBWIFE · 09/04/2019 15:31

@lazymumsmh it can be a bumpy ride, but hopefully smooth for you.

Have they found anywhere yet?

jemihap · 09/04/2019 15:32

I don't think I'd feel too ecstatic about paying near as dammit full asking price for a house that's been sat for 10 weeks in this current market, but I suppose if this bubble is going to keep inflated it's going to need someone to keep paying too much.

lazymumsmh · 09/04/2019 15:46

@WBWIFE Apparently not, which worries me a little.

@jemihap Confused Ok.

OP posts:
greenlynx · 09/04/2019 15:52

It’s possible, we were taking mortgage and managed in 2 months with a few surveys. Our solicitor was very quick, she wasn’t the cheapest, we could get cheaper from these big online firms but decided against it.

WBWIFE · 09/04/2019 16:18

It's very normal for them to not have anywhere to go if they've not sold.

Bristol market the houses get snapped up we were advised to not look until we had sold either.

So I imagine if they havent found anywhere yet you'll be waiting longer than 12 weeks.

Its usually 12 weeks from the chain being complete, as your vendor could find somewhere and then their vendor might not have somewhere to go yet etc etc.

4 years ago when I bought a no chain empty property it took 14 weeks. Last year when I bought current house it was a short 3 chain and it took 17 weeks.

sandybayley · 09/04/2019 16:26

@lazymumsmh - congratulations. Now the real stress begins! Not surprising that they've not got somewhere yet, we restricted viewings on our house to people who were proceedable.

@jemihap - a bit churlish. All depends on how the house was priced in the first place. Not all houses are priced in a way that requires a big discount to get a fair price for both vendor and buyer. OP is pleased so maybe be happy for her?

IncrediblySadToo · 09/04/2019 16:33

🏡 Congratulatins! 🥂🍾

I hope it all goes well for you 🤞🏼

AllTheFunAndGames · 09/04/2019 21:45

@jemihap There will always be inflation. There will always be a boom to bust economic trend and resessions. With the threat of Brexit, the market will get more unstable. That is not Op's fault. It is frustrating for people who can't get on the market or need a larger deposit, but that will not change.

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