Offering to buy a house

Discussion in 'Just Talk' started by hi2u_uk, Nov 1, 2019.

  1. hi2u_uk

    hi2u_uk Member

    On Saturday I am going to see a house and if it is like the advert I am 80% sure I want to put in an offer. I have just had an email from the estate agent asking if I need to put my current property on the market. If I respond to say yes then does that mean that they wont show me around and wont put forward my offer to the seller - just wondering what peoples experience is .
    If that's the case then it seems silly as the property has been reduced in price 3 times although I still think the asking price is a little bit about the market value in that area
  2. terrymac

    terrymac Well-Known Member

    Vendors like cash buyers ,for obvious reasons. If you have to sell yours before you can buy ,then this creates a chain ,and can get a complicated and lengthy process.
    Agents like to have all the facts to hand when putting offers to the vendor ,and I doubt very much that they would not show you around ,unless the vendor has instructed the agent that only cash buyers offers are to be put forward.
    Jitender likes this.
  3. Hans_25

    Hans_25 Well-Known Member

    The Estate Agent is acting on behalf of the seller, so they will want reassurance that the sale will proceed. If you need to sell your house and its not even yet for sale, why would they accept an offer as they could be waiting months.

    Even if they accepted your offer, they may be inclined not to take their house off the market.
    KIAB, Astramax and Jitender like this.
  4. Jitender

    Jitender Well-Known Member

    You can put froward your offer.

    Obviously the agents will want to see you have the funds if you are to buy the house.

    Whether that be savings in a a bank account or you will be getting a mortgage, do you have a mortgage in principal.

    Estate agents are working for the clients as well as their own interests, (as they will be making commission from the sale) so they want to want to chose a buyer who is going to go through with the sale. First time buyers are likely to more accepted as well as cash buyers (that's if you have that kind of money). If you are in a chain, this depends on the sale of your own house.

    They agents will advise their clients (the sellers) who they think is going to be the best buyer.
  5. hi2u_uk

    hi2u_uk Member

    Well I would be surprised if first time buyers could afford this but I guess you never know. Also I guess that theres the possibility that people are queuing up to buy it after this 3rd price reduction

    I haven't put my place on the market as I didn't want to be in a state where I had an offer on it and nowhere to move to or be rushed into moving. Its been valued and the estate agent has been ringing regularly asking if I want it to go on. I have been looking for 6 months and only found 2 that I want to view. This one on Saturday is the third one I will view, my only concern to about it just now is that its slightly outside my desired location
  6. Astramax

    Astramax Well-Known Member

    The bottom line is your not on the market therefore have no buyer or potential interest on your property..................put yourself in the sellers position, what would you do!
    KIAB and Crowsfoot like this.
  7. Jitender

    Jitender Well-Known Member

    An older couple I know nearby are thinking of selling up he will be retiring next year.

    They will be putting their house on the market and will rent in the new location for a while until they find somewhere to buy.

    They can afford to do this as the house are cheaper in the new area.
  8. CraigMcK

    CraigMcK Well-Known Member

    You crazy English :p
    Time to follow the Scottish system.
    Make an offer
    Accept the offer
    House sold
    Binding contract made.

    panic about the money later:rolleyes:
    KIAB and Crowsfoot like this.
  9. Tony Goddard

    Tony Goddard Active Member

    You really have to be up for sale to be taken seriously in my opinion. I spent 2 years looking for the right house, in that time I had two buyers, one got bored of waiting and moved on, the next ones, a couple waited 9 months - all worth it in the end, we all got what we wanted and I've spent the last few weeks working on my old house as they put an extension on and hired me as the spark - happy days!
    KIAB likes this.
  10. Crowsfoot

    Crowsfoot Well-Known Member

    Sell your house first, then and only then can you have a realistic look at what's available for you on the market.
    Astramax, Hans_25 and KIAB like this.
  11. Harry Stottle

    Harry Stottle Well-Known Member

    Don't waste people's time until you're in a position to buy, equally once yours is on the market start looking at houses from the road so that if you get an offer you can find another house quickly, otherwise you may find you've sold yours but don't have another lined up, then you'll have to rent somewhere. Alternative is to get a bridging loan lined up then buy before you've sold, but that can be very expensive.
  12. furious_customer

    furious_customer Active Member

    Good in theory, but buying a house is often an emotional decision - imagine a house you have always loved every time you have walked or driven past it and one day it has a for-sale sign up. You check the estate agents web-site and omg, it would be in your budget if you were to sell your current house for what you think it is worth. (it might be a bit of a financial stretch for a few years, but it is your *dream* house!) And so begins the whole frantic process...
  13. Crowsfoot

    Crowsfoot Well-Known Member

    These days there are companies that will buy your property at well below current market value, however, if you really wanted your dream house it is a way you could do it?
  14. sally green

    sally green Member

    Sellers lay restrictions well sensible ones do. We have never bought a house with a chain and try to sell to a no chain buyer.

    Sell at auction as at times you can actually get more
  15. peter palmer

    peter palmer Well-Known Member

    If you don't get embarrassed and squirm a bit when you make your first offer then its not low enough.
  16. Harry Stottle

    Harry Stottle Well-Known Member

    Quite right Sally. I've bought and sold several houses at auction, it's definitely the best way; the deal's done when the hammer drops, no gazumping, no broken chains, no toing and froing.

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