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The mkiv Supra Owners Club

Just got the offer accepted on a house


gavin.starr

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We just put an offer in on the house we liked and its been accepted :). So just a case of getting the survay sorted now so could be in a new home within 6 weeks. Chuffed to bits.

 

And just found out that the garage has an inspection pit in it, which i couldnt see when i had a look around as it is full of crap at the time.

 

:D

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Just had an call from the estate agents today.

 

the ocupants of the house we want have asked us to up our offer due to the fact that the house they want has just had a better offer put in on it.

 

They said they are going for another property which is of a simular value. Which i think is boll**ks, i personally think they have shit themselves and are goint to go back to the same house with another offer if we up ours. Which i think they are just trying to play hard ball now and get us to fund there house they want. If they were looking at a house of a simular value, surely they would still be happy with our offer.

 

They have said that its 157 or nothing when they just acepted 153. im a bit stuck now weather to say to them that its 155 or nothing. they are the desperate ones as they have been wanting to move for a while. 157 is still affordable but i didnt want to go any higher than 155.

 

Needless to say im rather pi**ed off now and want to bang some heads together.

 

What to do?

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They said they are going for another property which is of a simular value. Which i think is boll**ks, i personally think they have shit themselves and are goint to go back to the same house with another offer if we up ours. Which i think they are just trying to play hard ball now and get us to fund there house they want. If they were looking at a house of a simular value, surely they would still be happy with our offer..

 

I don't understand - do you not think it's plausable that the house they're looking at has had a better offer?

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Were first time buyers with a large deposit, which in this day and age is hard to come by, so were completly chain free and in a better position than some one in a chain as the way the housing market is at the moment nothing is shifting.

 

So they need us to complete the chain, without us she is screwed. She hasnt had any other offers in the last 3 months, but there is nothing to say some one couldn't come in tomorrow with a better offer than ours.

 

Im happy with 155 and have decided its my sticking point. We were supposed to be going in to the mortgage provider tonight to get it all set up and sorted, Which now isnt going to happen :badmood:

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Were first time buyers with a large deposit, which in this day and age is hard to come by, so were completly chain free and in a better position than some one in a chain as the way the housing market is at the moment nothing is shifting.

 

So they need us to complete the chain, without us she is screwed. She hasnt had any other offers in the last 3 months, but there is nothing to say some one couldn't come in tomorrow with a better offer than ours.

 

Im happy with 155 and have decided its my sticking point. We were supposed to be going in to the mortgage provider tonight to get it all set up and sorted, Which now isnt going to happen :badmood:

 

I'm not sure it's strictly true that there aren't many people in your position - there are certainly a lot of people not already on the housing market who have no chain due to the difficulty getting a mortgage in the last few years. Obviously a good deposit is what you need, this is the main stumbling block for a lot of people, people who simply don't have £25-30k hanging around.

 

I think, as an excuse, hers is quite viable (I used to work for developers and often they were at the top of the chain and had to add more money at the bottom).

 

I guess it all depends on whether you're happy to walk away. If you're happy with your offer and you'll find something else then I wouldn't even think about meeting her half way.

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Make them sweat! mine was on for £127,000 and I offered £123,000 and they refused, then a few days later they called back and accepted. This was at the peak of stupid house prices so my place is probably worth a bit less now. The only things I want on my next house is a garage that is attatched to the house by a door so I can work in there in the winter easily and a spiral staircase because they are awesome!

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Call their bluff. the housing market is pretty stale at the moment. If they accepted then you know they will go that low. In fact if it was me, I'd tell them 122 for cocking about :-)

 

I'm not a first time buyer, but we have just moved into a new property. I made a bit of a mistake 5 years ago and bought a new build property in what appeared to be a nice area - turned out to be a crap hole once all the empty houses were rented out to poles.

 

I lost 30k on the place to get rid of it and it took 2 years to sell!

 

What i'm saying is that it's hard to sell a property and they would be stupid to accept an offer and then turn it down. If I were you, I'd look for another property. if they are goingt o mess about at the start of the sale, imagine what they could be like half way down the sale when you have a lot more to lose!

 

Paul.

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I'm not sure it's strictly true that there aren't many people in your position - there are certainly a lot of people not already on the housing market who have no chain due to the difficulty getting a mortgage in the last few years. Obviously a good deposit is what you need, this is the main stumbling block for a lot of people, people who simply don't have £25-30k hanging around.

 

I think, as an excuse, hers is quite viable (I used to work for developers and often they were at the top of the chain and had to add more money at the bottom).

 

I guess it all depends on whether you're happy to walk away. If you're happy with your offer and you'll find something else then I wouldn't even think about meeting her half way.

 

I would be rather gutted if we didnt get it, when i say there ist many people in my position, i mean there is not many that can get a house at 150 plus as a first time home, I have a 30k deposit ready and i feel that she is just trying to push up the price.

 

She paid 155 for the house back in 2008 when the housing market was at its peak so now that they are quite low again i feel she is just taking the piss a little.

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Stick to your guns, even a two grand rise in price is silly, better two grand in your pocket than theirs.

 

I'm with Paul on this one - stick to your guns. I once said to a seller that he had 48hrs to accept our offer or else we move on, (he accpeted it). It is still a buyers market and people like you with no chain (but with cash) are getting fewer.

 

It sounds crazy but I don't get too emotional with property. If you don't get this one then the chances are you will get something better in a few months from now.

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If peak price was 155 , then it should bottom out just over 100k plus inflation adjustment , you are trying to catch a falling knife !

Simply having a deposit puts you in a strong position - cash is king!!

The days of bank lending muppetry have gone ,except for whole country lending muppetry.

Things are getting tighter by the month .

It's not about what you can afford or willing to pay but what everyone else can afford or borrow next year .

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If peak price was 155 , then it should bottom out just over 100k plus inflation adjustment , you are trying to catch a falling knife !

Simply having a deposit puts you in a strong position - cash is king!!

The days of bank lending muppetry have gone ,except for whole country lending muppetry.

Things are getting tighter by the month .

It's not about what you can afford or willing to pay but what everyone else can afford or borrow next year .

 

 

Thats not true! It totally depends where you are in the country. I bought a place for not so long ago for 165 and sold it for 132 as I needed to free up some cash!

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Thats not true! It totally depends where you are in the country. I bought a place for not so long ago for 165 and sold it for 132 as I needed to free up some cash!

 

As you are dealing with means, medians and averages , you can only give average solutions - some places across the uk rose way above median some way below .

Each area and each individual house is different but the average result is just that

average house is circa 163000 the average income is circa 24000 therefore there is a correction needed or multiples of income to mortgage ( bank loans) do not tally - it leaves a shortfall in income or people just stop eating for example to balance .

It must correct either by wage rises or house price reduction -

it cannot work if people cannot afford to live!

Rental yields in property are also missmatched , high rentals are needed to cover loan costs - in uk people worked off house price rises to offset low yields , what happens if prices drop?-and wages drop and living costs inflate? And employment stagnates?

- you enter a spiral,which is very hard to break out of .

The old bricks and morter rule soon spins round!

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