Buying a home and don't know how anything works

[Cid]

I.e you can withdraw at any time until completion, so you don’t need to add caveats and get-outs.

E2a: that’s re ‘subject to survey etc’

 

[two sheds]

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

Yes I think you're right, not needed - is presumably understood and just adds negative waves (always with the negative waves Moriarty )

 

[kebabking]

Yeah, do it now - love the flat, want to live there, can see myself sat in the garden with a G&T...

Don't worry about the legal small print, that's there whether you quote it or not.

 

[Epona]

I.e you can withdraw at any time until completion, so you don’t need to add caveats and get-outs.

E2a: that’s re ‘subject to survey etc’

That is if she is in England, I am a bit hesitant about people giving this sort of advice - in Scotland an offer is more legally binding.

 

[two sheds]

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)

The estate agent doesn't care but it might swing it with the owners.

 

[miss direct]

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...

I was asked to when I made my previous offer, but explained the stage we are at and provided the details of the other estate agent which presumably was enough at that point (?)

 

[Cid]

Yes I think you're right, not needed - is presumably understood and just adds negative waves (always with the negative waves Moriarty )

Yep exactly. ‘Subject to x’ may be a bit off-putting.

 

[two sheds]

That is if she is in England, I am a bit hesitant about people giving this sort of advice - in Scotland an offer is more legally binding.

Indeed, but she is in England.

 

[Epona]

You don't need to say subject to anything - if in England, that is tacitly understood.

 

[Epona]

Indeed, but she is in England.

Fair enough, I wasn't sure and wouldn't want to assume saying that an offer can be retracted just in case! It does differ

 

[bimble]

Dont write subject to survey, it’s understood. Nothing is legally binding until contracts are exchanged.
Good luck glad you’re going for it.

 

[miss direct]

Reworded a bit:

My best and final offer for xxxx is £xxxxx,200.

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

Completion of my current property sale is due this Friday and funds will be available then. I can provide a copy of the contract if necessary.

I really like the flat and would love to make it my home.

Looking forward to hearing from you.

My sister says change 200 to 700...

 

[Cid]

Reworded a bit:

My best and final offer for xxxx is £xxxxx,200.

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

Completion of my current property sale is due this Friday and funds will be available then. I can provide a copy of the contract if necessary.

I really like the flat and would love to make it my home.

Looking forward to hearing from you.

My sister says change 200 to 700...

Yeah she may be right... depends on the exact figure. Also consider 780. Not that £30 makes much difference.

 

[miss direct]

but that's still £530 more than I've put now

 

[Epona]

Sounds good to me, 700 as in upping the bid by another 500? Entirely up to you. Don't let the pressure make you offer more than you can afford or think it is worth. If however you get a survey done and they value it at less, or it has issues, you can always rethink at that stage. (Obviously getting conveyancing and surveys costs money so don't rashly offer more than you think it is worth, and you should be prepared to pay that if there are no issues)

 

[miss direct]

Maybe 350 as it sounds more

 

[cybershot]

Are you sure it’s final offers? Sealed bid etc etc bollocks.

have you spoken to them?

you could be paying £3.5k more than you need too.

phone them and ask them to call you if you are out bid.

or are they literally going to look at email at 12 and go with the highest offer?

a normal sale doesn’t normally work like this. It’s probably more the agent just wanting to seal a buyer for the property for the seller rather than letting viewings go on and on.

estate agent will give buyer the offers and the situations of each buyer before considering the winning offer. Which doesn’t necessarily mean the highest.Cash buyer will always have an advantage over a mortgage offer even with a lower offer.

I’d clarify with the agent how it’s working.

 

[Epona]

They already said it was final offers due on Monday - page 21 of the thread now

 

[miss direct]

This is what was sent to me on Friday:
We have therefore decided to book Best & Final offers on the property, please can you have a think over the weekend on whether you would like to increase your offer and we will be collecting everyone’s best offer by 12pm Monday.

 

[kebabking]

You're offering the thick end of a £100k. They are not going to be swayed by £500.

The important stuff is the cash buyer and that you're not going to pull out because you see a place that you could squeeze another grubby student into.

Email it in, then call the agent to ensure they've got it.

 

[bimble]

good email

Maybe 350 as it sounds more

200 does look a bit folorn. 700 a bit random. What if 550? Shows you’re trying hard.
Mad isn’t it.

 

[miss direct]

Right, sent. Done.

 

[miss direct]

I already gave myself a talking to last night, telling myself that if I don't get it, then that gives me an opportunity to either move abroad again, or find a place with a proper garden with grass and trees.

 

[Epona]

The people selling the place are human beings, probably not property baron scum, and I kind of feel like when it is normal people both selling and buying a property (not scumlord property investors), then being fair and open is probably the best way to go about it. If the vendor has requested final bids today then it probably means they are keen to sell and don't want a bidding war that goes on for months. They aren't going to run all the way to the bank with what they have made from this sale, they are probably just scraping by moving on to their next home and want to get a sale done quickly and painlessly. They aren't the enemy.

 

[miss direct]

Hope so. They are actually moving to care for a parent so really do have a good reason to move on.

 

[miss direct]

Feel a bit sick though.

 

[Epona]

Fingers crossed for you, I feel a bit sick on your behalf too! Hope you get the news you want.

 

[cybershot]

Good luck. Personally think the agent is being a cock and trying to drive the price up with a dirty tactic.

if you get it. Take everything they say from here on with a pinch of salt. Arrange another viewing under the guise of measuring upthe bathroom. Do it at a time the agent can’t do (such as a Sunday) and speak to the seller and exchange email addresses so you can skip the agent on progress chats.

the 2nd viewing will show you are keen especially if ‘measuring up’ for changes. You may actually want to do this anyway to give yourself a head start on furniture thinking etc.

fuck the agent off from here in and go personal email or via solicitors for anything official.

 

[miss direct]

Good ideas. Although due to covid the sellers may not be keen. Would be good to have another look at the midget bath though!

 

[two sheds]

I'm intending for them to carry me out of this place in a box, but if I did sell what I thought of the buyer would be critical to me. Anyone wanting to develop it or make huge changes from the start or cut bits off the garden to sell could fuck right off.