Buying a home and don't know how anything works

[miss direct]

But is my "asking price" the top of the guide range?

 

[two sheds]

As noted if it is cheap there may be a reason for that. Having said that your survey might turn up stuff which you'll be quite in order to reduce the offer to pay for (particularly if you do say that you're right at the top of what you can afford already).

 

[Cid]

The thing is, the people who offered 2 grand under might have just been trying their luck, but can plenty afford to go higher. It's a pretty cheap place, relatively speaking. And I'm assuming they know my offer, so they're either: not going to offer anything more and give up (great), offer a little bit more in the hope that I won't offer any more (but estate agent has probably told them I'm keen!) or offer loads more. 1k over the bid I gave doesn't seem a lot more to me (although it's 3 grand more for them). Argh!!! £3500 is so much money. I can afford it, but just thinking about the months it takes me to earn that sort of money is depressing!

Well at least that’s a good reason to cap it at £3.5k over.

 

[miss direct]

It's cheap in comparison to other parts of the country and houses..it seems appropriately priced for what it actually is.

 

[Cid]

How does it compare to other two beds that might appeal to students? Have a look at prices a similar distance from the uni... doesn’t really matter if they’re directly comparable. If it seems in that range, then go for it.

 

[miss direct]

How does it compare to other two beds that might appeal to students? Have a look at prices a similar distance from the uni... doesn’t really matter if they’re directly comparable. If it seems in that range, then go for it.

Quite a bit under :/

 

[MBV]

If you're willing to increase your offer by 3.5K you might as well look on rightmove to see what your offer price + 5K buys you in the city (Sheffield?) you are looking at.

 

[miss direct]

Nothing that ticks my boxes in the same way. Having some outside space and a good location are really important to me.

 

[Cid]

I’m slightly wary of doing any digging, as I’d probably just find it, knowing the student bits. But just think about what your limits are, what your contingency is etc. What you need to get by while you try and sort a job etc...

 

[bimble]

I really hate this bit and am not good at it. All my instincts say go for what you suggested, 3.5 over your offer, which is very likely to secure it, if you really like it and if keeping on looking for an unknown amount of time would be a big negative for you.
Seems unlikely to me that you'd come to regret doing so.
But that's not clever or canny its just prioritising feelings.
If you do go for it, just make sure you have enough left to fix everything that might need fixing, pay all the costs of the legal and moving process and all that.

 

[two sheds]

It was at this point I became particularly superstitious. Anyone asked me how the house was going I'd say "ok touch wood".

Worked for me

 

[miss direct]

It's D day! Final offers due by midday. Wondering when to send mine. Also wondering whether EA will give any info if I ask this morning

 

[Epona]

It's D day! Final offers due by midday. Wondering when to send mine. Also wondering whether EA will give any info if I ask this morning

Seriously if you want the place and they are doing final offer bids, then get your final offer in before the time is up. Remember that if anything horrible comes up from the conveyancing or surveyor that you can always pull out of the deal later (if you are in England). I have a nice sized flat, but if I could have similar with a garden I would go for it if I could afford it - gardens are even more in demand these days. You seem to have fallen in love with the place, it might still all go tits up further down the process but there is no reason to fall at the first hurdle by missing a deadline.

 

[miss direct]

Oh I'm not going to miss it! I'm just wondering what time to send mine in

 

[Cid]

Now.

 

[Cid]

You manage to sort out proof of funds etc?

 

[Epona]

Oh I'm not going to miss it! I'm just wondering what time to send mine in

I don't think there is a particular strategic best time for this sort of thing, I'd always be wary that my internet is about to clap out and I'd be left at 11:30 with no way to communicate with anyone! Now would be fine.

 

[co-op]

Good luck, it's a horribly nerve-wracking this stuff.

 

[miss direct]

Well, I gave this estate agent the details of the estate agent dealing with the sale of Dad's house, and she didn't ask me anything else. So hopefully that's enough for now.

 

[miss direct]

Oh, I sent a friend to walk round there in the middle of the night last night to see what it was like at night - he said it was quiet and calm. Although a Sunday night during a pandemic may not tell us much

 

[two sheds]

Another vote for NOW - do it, do it

Lap of the gods after that.

 

[Cid]

I would think if you have any official correspondence with dates and values on it that would help.

 

[Epona]

Fingers crossed for you miss direct

 

[miss direct]

I would think if you have any official correspondence with dates and values on it that would help.

I have an unsigned contract but it has my sister's name on (she's the executor). Let me chase my sister.

 

[miss direct]

How's this:

Dear xxxxx.

My best and final offer for xxxx is £xxxxx

Just to reiterate, this is a cash offer and as I am currently renting, I am keen to move quickly.

The contract for the sale of xxxx was exchanged last week, and completion is set for this Friday (26th)

Looking forward to hearing from you.

Not sure about the wording of that contract bit. Not sure my sister will look at her emails in time for me to have a copy of a signed contract to send.

 

[Cid]

Oh, I sent a friend to walk round there in the middle of the night last night to see what it was like at night - he said it was quiet and calm. Although a Sunday night during a pandemic may not tell us much

If a student is interested in it you’re probably fine. it can be slightly more dodgy down by London road, but honestly even that isn’t bad by the standards of actual London.

Break ins will be an issue anywhere though.

 

[two sheds]

Looks good - anyone think whether it's worth adding something like "I love the flat" and am keen to move ... ?

need to say subject to surveys of course?

 

[Cid]

How's this:

Dear xxxxx.

My best and final offer for xxxx is £xxxxx

Just to reiterate, this is a cash offer and as I am currently renting, I am keen to move quickly.

The contract for the sale of xxxx was exchanged last week, and completion is set for this Friday (26th)

Looking forward to hearing from you.

Not sure about the wording of that contract bit. Not sure my sister will look at her emails in time for me to have a copy of a signed contract to send.

I guess send it either way, you can always add that you can provide a copy of the contract. Presumably you have a solicitor? Couldn’t you get something off them? I’m pretty sure you are supposed to provide actual proof of funds...

 

[Cid]

Looks good - anyone think whether it's worth adding something like "I love the flat" and am keen to move ... ?

need to say subject to surveys of course?

I don’t think it does as offers for houses are a bit of an odd one.

 

[Epona]

Just say that completion of your current property sale is due on Friday and funds will be available then.

The estate agent doesn't care how much you love the flat, but being able to move quickly is a big thing - I mean technically you could complete on this sale and move in Friday (not that it is likely to go through that quickly and you should get survey and conveyancing, but having that availability to move quickly is what makes you a more tempting prospect than a buyer waiting on a mortgage)