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Please help totally out of my depth - How do I present myself as good prospective buyer?

7 replies

yorkshirejo · 10/06/2021 23:31

Totally new to home buying and feeling out of my depth! Perils of letting ex do the negotiations in the past I guess.

Can anyone give this total newbie some overall strategy?!

Are there any specific docs I could show EAs to improve my chances of being taken seriously as a buyer and a good safe prospect to get an offer accepted? Any ideas what to say and what not to say?!

I've so far had an offer for the full asking price rejected, despite a mortgage in principle and hefty deposit over 50%. There were 3 other bids though.
Also made the mistake of mentioning my neighbours are buying mine in a private sale (investment for them).. but this will count against me I'm told as no EA to progress the sale, but I'm chasing neighbours and all parties daily myself!

Do EA need to see my decision in principle, and is there anything else I can say or do at the viewing stage or when I put my offer in?

Huge thanks for any tips.. my DS is SEN and the house & school move if I can pull it off in current market will be nothing short of life changing for us both 🌈 X

OP posts:
hackn3ygirl · 10/06/2021 23:42

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greennailvarnish · 11/06/2021 00:01

The other buyers are probably more proceedable than you meaning they aren't encumbered by the sale of a property. You should be transparent about this otherwise you will peeve off vendors later down the line if you proceed to buy a place alluding to be chain free.
Just get yours progressed more and tell your buyers you may need a long completion date

DespairingHomeowner · 11/06/2021 13:08

EAs don't love private sales so don't mention it if you don't have to, but I just bought when selling my place privately

TBH - it was better for me/the buyers as could communicate with each other & the solicitors. EA spoke to their solicitor instead of their EA when needed.

Its just laziness on part of the EA! Speak about how far you are in the conveyencing process (as this is what shows how serious/proceedable you are). Have your buyers done their survey/got their mortgage offer yet?

bilbodog · 11/06/2021 13:43

Unfortunately the estate agents will need to know details of your sale as the first thing they do when an offer has been accepted is produce a memorandum of sale which has all chain details and contact numbers for whoever is dealing with the various different properties.

Just give them as much information as you can as to how far your current sale is and keep them updated.

Livingintheclouds · 11/06/2021 16:24

The first thing the EA did when I offered on a house was call the, EA selling mine to verify how far along we were, but I suppose they could call your solicitor for the same info.

yorkshirejo · 15/06/2021 09:30

HI All - a quick msg from me to say a huge thank you for all the advice above - deeply appreciated. Thank you X

OP posts:
S0upertrooper · 15/06/2021 09:39

If your sale is currently progressing could you wait until it's completed, move in temporarily with family and then purchase something. This would make you even more attractive as a purchaser as you're good to go.

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