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Author: Subject: Buying first house advice!
Peteff

posted on 8/3/13 at 12:44 PM Reply With Quote
If it's been up for a year they are definitely not desperate to sell. 20+ years ago when we bought our house there was no offering an amount and then haggling, the seller put up a price and you either bought it or didn't and the system worked. It was before the property market went crazy and you could still buy a house for a realistic amount. If the price is something you can afford, you don't need to worry about getting a mortgage or whether you will be able to repay it if the interest rate starts to go up a couple of percent and you are getting the house to live in for the foreseeable future not worrying about whether you will get your money back on it when you leave I can't see why you are looking to chip the seller for a 5% reduction.
Edit to add "We have no chain and a pre arranged mortgage so we are also the perfect buyers." In my opinion the perfect buyer would come and say, " Right, we'll take it when can we sign" It's probably a matter of pride or machismo to say you knocked them down by X amount but if you want the house and they have it it is not a buyers market.

[Edited on 8/3/13 by Peteff]





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parkiboy

posted on 8/3/13 at 01:27 PM Reply With Quote
quote:
Originally posted by Peteff
If it's been up for a year they are definitely not desperate to sell. 20+ years ago when we bought our house there was no offering an amount and then haggling, the seller put up a price and you either bought it or didn't and the system worked. It was before the property market went crazy and you could still buy a house for a realistic amount. If the price is something you can afford, you don't need to worry about getting a mortgage or whether you will be able to repay it if the interest rate starts to go up a couple of percent and you are getting the house to live in for the foreseeable future not worrying about whether you will get your money back on it when you leave I can't see why you are looking to chip the seller for a 5% reduction.
Edit to add "We have no chain and a pre arranged mortgage so we are also the perfect buyers." In my opinion the perfect buyer would come and say, " Right, we'll take it when can we sign" It's probably a matter of pride or machismo to say you knocked them down by X amount but if you want the house and they have it it is not a buyers market.

[Edited on 8/3/13 by Peteff]


It's not about machoism, buying your first house is bloody expensive, old timers generally do not have a clue, back in the day alot of people were getting 100% mortgages, you could pretty much sign up with no money and start making payments. I have to put down a 10% deposit pay 2k of fees and furnish the place, your talking 20k by the time your done. These people have made 80k profit on this house, so 5k off something they never had is nowt to them, they will still have a 75k headstart on there next purchase, it will make more of a difference to me. I'm not going to have that benefit I highly doubt house prices are going to double like there's did in the last 10-12 years.

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ashg

posted on 8/3/13 at 02:35 PM Reply With Quote
wait a week put the same offer in again. my house was up for 175k i got it for 145k





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parkiboy

posted on 8/3/13 at 03:20 PM Reply With Quote
Settled it today at 143k with a guaranteed move in one month after everything thing is sorted. Surveys etc.

I'm over the moon to be honest and glad its all over with, don't want to do that again in a hurry.

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sdh2903

posted on 8/3/13 at 03:29 PM Reply With Quote
Nice one, well done!






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steve m

posted on 8/3/13 at 03:32 PM Reply With Quote
That was the easy bit dealing with the price and agreeing

Now and in a months time is the hard logistical bit of moving in and sorting the mess out ?

I have done so a couple of times, helping the kids move (out was the best one!!) and friends,
But every one does things differently, and chaos normally arrives at the worst time, and moving in the snow, or rain, is a real PITA

Steve

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femster87

posted on 8/3/13 at 03:43 PM Reply With Quote
I bought my first house 9 months ago. Only thing I will say is, be a pain in the ass to your solicitor until everything is done. Ours dragged everything out and kept saying searches were not back when she had not requested it. Almost lead to the seller pulling out.
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parkiboy

posted on 8/3/13 at 04:15 PM Reply With Quote
I think we are having a crossover month to get everything sorted as the house we are renting was furnished so we have everything to buy! Gonna have a week or 2 off work and get everything sorted so it should be relatively stress free hopefully!

We are just using the solicitor Halifax recommends we think as our lass workstation Halifax and according to her they are pretty quick but I will make sure I keep on at them, thanks for the advice.

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