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Hi.
I'm posting this here as I can't bear some of the Pavlovian bile that gets spouted on the main forum when anyone mentions they are buying. I think off-topic , whilst infinitely more puerile and fun, is much more in touch with more level-headed people.
I'm buying as I've been waiting 5 years. Nothing. I live where I live and can't move and where I live, South Manchester / Cheshire border just isn't doing what other places may be. When I started to rent, it was me and my girlfriend and it suited us just fine. Fast forward 5 years and I have a wife and 3.5 year old son. I want my own house to do with as I like. I am not stretching myself, can afford it, infact the mortgage repayments equal my rent and have a sizeable deposit.
However, I need advice on how to deal with the verminous EAs. I am only too aware that the market is still not buoyant, but when you call, they, before you even start speaking, start telling you the market is flying, they are inundated, you'll need to offer a minimum of asking price. Is this just guff? I know that unfortunately, I can't just get shirty with them, as I do need to keep them on side a bit as I want to buy a house. It's like their on autopilot, and I need a few tips on how to get them to shut up and just find me a house that's reasonably priced with a reasonable seller.
Also, as a renter, I am not in a chain. This, I believe is a plus for me. However, the EA says that if I want to buy a house from a vendor who is in a chain, I can only buy their house when they themselves have completed. I suggested that that wasn;t my problem and they can ****** off into rented for all I care - either they want to sell or they don't. I'm told no. This means that when the inevitable chain breaks, I lose legal and survey fees each time. Does this mean that I should only really be looking to buy a property with no upward chain. Does anyone have any experience of standing their ground with a vendor, in terms of not giving a shit where they go as long as they are out of the house.
I'm in no rush and am not going to go rushing into anything. I've been here 5 years and have picked up a good few tips.
I'm Buying A House
Sensible help required
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#1
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Posted 27 March 2012 - 11:29 AM
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#2
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Posted 27 March 2012 - 11:36 AM
Not saying this is good advise or not, but what have you got to lose?.....drive around the area looking for property you like the look of with a 'for sale board' attached to it, knock on the door or ask your wife to knock on the door, say you know the area well and leave your telephone number, do this a few times, you never know, one may bite and think of the agent fees they could save once the contract runs out and still not sold. 
Edit:...there is a thing called a delayed contract where completion dates are different, maybe worth a look into that.
Edit:...there is a thing called a delayed contract where completion dates are different, maybe worth a look into that.
This post has been edited by winkie: 27 March 2012 - 11:41 AM
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Less can be more.
Less can be more.
#3
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Posted 27 March 2012 - 11:45 AM
theboltonfury, on 27 March 2012 - 11:29 AM, said:
Also, as a renter, I am not in a chain. This, I believe is a plus for me. However, the EA says that if I want to buy a house from a vendor who is in a chain, I can only buy their house when they themselves have completed. I suggested that that wasn;t my problem and they can ****** off into rented for all I care - either they want to sell or they don't. I'm told no. This means that when the inevitable chain breaks, I lose legal and survey fees each time. Does this mean that I should only really be looking to buy a property with no upward chain. Does anyone have any experience of standing their ground with a vendor, in terms of not giving a shit where they go as long as they are out of the house.
EAs make their money out of chains so you may need to deal directly with the vendor and exchange contracts behind the EAs back, thus breaking the chain. The EA would hate you for it, but so what, and would probably claim the commission on the sale from the vendor, but that would be due anyway.
.
See Below:
It looks to me like there is a massive coordinated attempt by the various VIs to engineer a spring bounce by press releases and trolling popular Internet forums such as this.
Following the reported 1.9% monthly rise from a government controlled lender and the (expected) 0.5% rate cut, this forum seems to be targeted by bulls, many joining in the last few day to talk up the market.
The general drift seems to be... 'Savings accounts are paying a pittance so get into property now and pick up a bargain'.
I wonder if the various EA and lenders associations are emailing their members, suggesting that joining this forum to talk up the market would be a good idea.
Note: The above was posted in late January 2009, the following is updated as and when required.
See Below:
It looks to me like there is a massive coordinated attempt by the various VIs to engineer a spring bounce by press releases and trolling popular Internet forums such as this.
Following the reported 1.9% monthly rise from a government controlled lender and the (expected) 0.5% rate cut, this forum seems to be targeted by bulls, many joining in the last few day to talk up the market.
The general drift seems to be... 'Savings accounts are paying a pittance so get into property now and pick up a bargain'.
I wonder if the various EA and lenders associations are emailing their members, suggesting that joining this forum to talk up the market would be a good idea.
Note: The above was posted in late January 2009, the following is updated as and when required.
#4
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Posted 27 March 2012 - 11:47 AM
Good luck TBF. I'm pretty much in the same situation as you. I will probably be buying this year at around 3 x my salary with the mortgage being the same as my current rent.
As for EA's it's a tough one, ignore the shit they spout about boyent market etc just offer what you believe the house is worth to you, if the offer is rejected then so be it, don't get too emotional over a specific house.
A tip I've learned with EA's to avoid the shit that generally spouts from their mouths is to keep asking pertinent questions regarding the house on viewings. This has two consensuses, firstly it shows you are serious and not a tyre kicker, secondly they are generally unable to answer your questions so tend to babble then shut up.
It does help that you are in rented as it puts you in a good position to move quickly, it can't hurt to tell the EA this and explain that you would be looking for a quick move and a motivated seller. As volumes are so low at present I would avoid lengthy chains, if the house your interested in is in one there will be others that are not.
Good luck
As for EA's it's a tough one, ignore the shit they spout about boyent market etc just offer what you believe the house is worth to you, if the offer is rejected then so be it, don't get too emotional over a specific house.
A tip I've learned with EA's to avoid the shit that generally spouts from their mouths is to keep asking pertinent questions regarding the house on viewings. This has two consensuses, firstly it shows you are serious and not a tyre kicker, secondly they are generally unable to answer your questions so tend to babble then shut up.
It does help that you are in rented as it puts you in a good position to move quickly, it can't hurt to tell the EA this and explain that you would be looking for a quick move and a motivated seller. As volumes are so low at present I would avoid lengthy chains, if the house your interested in is in one there will be others that are not.
Good luck
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#5
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Posted 27 March 2012 - 11:53 AM
theboltonfury, on 27 March 2012 - 11:29 AM, said:
<SNIP>
However, I need advice on how to deal with the verminous EAs. I am only too aware that the market is still not buoyant, but when you call, they, before you even start speaking, start telling you the market is flying, they are inundated, you'll need to offer a minimum of asking price. Is this just guff? I know that unfortunately, I can't just get shirty with them, as I do need to keep them on side a bit as I want to buy a house. It's like their on autopilot, and I need a few tips on how to get them to shut up and just find me a house that's reasonably priced with a reasonable seller.
Yeah it's ******. I put an offer in on one for my SIL yesterday and she will put an offer in too, but a few days later for a few grand more (play them at their own game if you can).
However the point was that I offered 25% below asking and they didn't laugh; they just tried to extract another 5 grand to which I said no. The penny is I think dropping with some.
theboltonfury, on 27 March 2012 - 11:29 AM, said:
Also, as a renter, I am not in a chain. This, I believe is a plus for me. However, the EA says that if I want to buy a house from a vendor who is in a chain, I can only buy their house when they themselves have completed. I suggested that that wasn;t my problem and they can ****** off into rented for all I care - either they want to sell or they don't. I'm told no. This means that when the inevitable chain breaks, I lose legal and survey fees each time. Does this mean that I should only really be looking to buy a property with no upward chain. Does anyone have any experience of standing their ground with a vendor, in terms of not giving a shit where they go as long as they are out of the house.
I'm in no rush and am not going to go rushing into anything. I've been here 5 years and have picked up a good few tips.
I'm in no rush and am not going to go rushing into anything. I've been here 5 years and have picked up a good few tips.
You may be better off looking at probate or even an auction property in your circumstances. It is possible to buy at auction using a mortgage. I did and had a sizeable deposit too (a little less than half of the purchase price). Chains are a royal pain in the ass to the extent that I may well take on a rental contract for a year in order to be able to move quickly when I need to - whether that be probate by private treaty or through an auction. I am very wary of the tactics of estate agents and buying at auction whilst not for the feint of heart is a viable option where you own the property done and dusted in 28 days. It helps of course if you have the cash to buy outright but it's not an absolute requirement.
For the same reason and even more so I would be wary of buying a repossession through an estate agent my view being that if they are obliged to get the best price in such cases (and they are) then sell the bloody thing at auction and be fair to every one.
#6
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Posted 27 March 2012 - 11:53 AM
doccyboy, on 27 March 2012 - 11:38 AM, said:
Personally I will never buy a house in a chain. Too much can go wrong with a house purchase anyway without taking an extra risk or two.
Agreed. Good call.
Bruce Banner, on 27 March 2012 - 11:45 AM, said:
EAs make their money out of chains so you may need to deal directly with the vendor and exchange contracts behind the EAs back, thus breaking the chain. The EA would hate you for it, but so what, and would probably claim the commission on the sale from the vendor, but that would be due anyway.
Yes, my least concern is the well being of the EA. Not sure I have the balls to do this though.
#7
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Posted 27 March 2012 - 12:05 PM
You must be looking elsewhere now but I've found our local EAs to be particularly odious.
One time, the particularly odious, let's call him, Nigel (drives an X6), chucked us out of a rental, said he understood how hard it was for us but if it helped he might have another coming on the market nearby for an extra £200 a month. Clearly an offer we could refuse. Later we actually get to know the people who moved into house 2 and found they were paying less than we were paying in house 1! There's a word for him but it won't get past the swear filter.
Each time I have dealt with a local letting or sales agent, they have either been ignorant and annoying or useless and annoying.
Just do your best to keep calm, treat everything they say as an outright lie and base your decisions on what you know rather than what you think. They will do jedi mind tricks and mess with your mind so keep out of their way as much as possible.
One time, the particularly odious, let's call him, Nigel (drives an X6), chucked us out of a rental, said he understood how hard it was for us but if it helped he might have another coming on the market nearby for an extra £200 a month. Clearly an offer we could refuse. Later we actually get to know the people who moved into house 2 and found they were paying less than we were paying in house 1! There's a word for him but it won't get past the swear filter.
Each time I have dealt with a local letting or sales agent, they have either been ignorant and annoying or useless and annoying.
Just do your best to keep calm, treat everything they say as an outright lie and base your decisions on what you know rather than what you think. They will do jedi mind tricks and mess with your mind so keep out of their way as much as possible.
JustYield, on 30 September 2006 - 02:00 PM, said:
Zanu Bob, on 21 September 2012 - 09:00 AM, said:
love is getting a cup of tea with yer morning hand job everything else is noise.
#8
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Posted 27 March 2012 - 12:14 PM
No advise, but nothing but good luck and well done from me. If you can easily afford it and allows you lay down roots, then its the "right thing to do IMO." 
This post has been edited by "Steed": 27 March 2012 - 12:14 PM
Secure Long Term Tenancies For All - Don't Accept AST Crap
#9
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Posted 27 March 2012 - 12:15 PM
SeeYouNextTuesday, on 27 March 2012 - 12:05 PM, said:
You must be looking elsewhere now but I've found our local EAs to be particularly odious.
One time, the particularly odious, let's call him, Nigel (drives an X6), chucked us out of a rental, said he understood how hard it was for us but if it helped he might have another coming on the market nearby for an extra £200 a month. Clearly an offer we could refuse. Later we actually get to know the people who moved into house 2 and found they were paying less than we were paying in house 1! There's a word for him but it won't get past the swear filter.
Each time I have dealt with a local letting or sales agent, they have either been ignorant and annoying or useless and annoying.
Just do your best to keep calm, treat everything they say as an outright lie and base your decisions on what you know rather than what you think. They will do jedi mind tricks and mess with your mind so keep out of their way as much as possible.
One time, the particularly odious, let's call him, Nigel (drives an X6), chucked us out of a rental, said he understood how hard it was for us but if it helped he might have another coming on the market nearby for an extra £200 a month. Clearly an offer we could refuse. Later we actually get to know the people who moved into house 2 and found they were paying less than we were paying in house 1! There's a word for him but it won't get past the swear filter.
Each time I have dealt with a local letting or sales agent, they have either been ignorant and annoying or useless and annoying.
Just do your best to keep calm, treat everything they say as an outright lie and base your decisions on what you know rather than what you think. They will do jedi mind tricks and mess with your mind so keep out of their way as much as possible.
Yes, the lady at Jordan Fishwick on the high-street. Let's keep her anonymous, but say he's called Jan and has a face like a smashed crab. She's up there with Nigel.
We are dealing with some Altrincham EA's and I'd happily just hit each one before they speak, just to save me doing it each time when they do. These people are not human!
Looking at Cheadle, Heald Green, Hazel Grove area for better value.
#10
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Posted 27 March 2012 - 12:17 PM
doccyboy, on 27 March 2012 - 12:10 PM, said:
The main thing is - don't get emotionally involved in any house. Try and have at least 4 to put offers on - that way you don't get sucked in to bidding wars (often with imaginary bidders)
Look on house purchase as you would buying a car. It's only a collection of bricks and wood after all and it costs a helluva lot of your ongoing cash.
Don't be taken in by fancy insides - kitchen etc - if you can get the house at a good price you can renovate to exactly your own taste. Watch out for your OH getting emotionally involved too. It makes having a hard head about it more difficult.
Write out a list of essential criteria for your house. Good school nearby, enough room for a car , good garden for child to play in etc and concentrate on these items rather than the superficial "WOW" factor that can blind you to a lot of problems.
Most important thing is though remember every extra thousand you agree to pay will cost you 2 thousand by the end of 25 years and that's money you could be putting aside for your child's future or you retirement. Don't let someone else gain from your thriftiness in saving a deposit. Make every pound count.
Look on house purchase as you would buying a car. It's only a collection of bricks and wood after all and it costs a helluva lot of your ongoing cash.
Don't be taken in by fancy insides - kitchen etc - if you can get the house at a good price you can renovate to exactly your own taste. Watch out for your OH getting emotionally involved too. It makes having a hard head about it more difficult.
Write out a list of essential criteria for your house. Good school nearby, enough room for a car , good garden for child to play in etc and concentrate on these items rather than the superficial "WOW" factor that can blind you to a lot of problems.
Most important thing is though remember every extra thousand you agree to pay will cost you 2 thousand by the end of 25 years and that's money you could be putting aside for your child's future or you retirement. Don't let someone else gain from your thriftiness in saving a deposit. Make every pound count.
Wise words. Emotional detachment to a degree is the way forward and my wife and I will happily walk away from ten in a row if we feel that we are getting tucked up or the vendor wants to be silly.
It seems then that if the vendor is in a chain, I can't buy the house and insist that they move out? Seems like I just join their lengthy and fragile and expensive chain. Or not, as i clearly won't.
#11
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Posted 27 March 2012 - 12:28 PM
"Steed", on 27 March 2012 - 12:14 PM, said:
its the "right thing to do IMO."
sounds familiar...
My advice is to be cold, clinical and business like. List the must haves and the nice to haves (off street parking, south west facing garden etc.) then go for it.
Do not compromise on what you want ut be prepared to lose it and try again.
The mighty neo liberal steam roller that crushed all before it from the 1980s to the beginning of the new millennium has morphed in recent years into a Charlie Carioli clown car that now can not go two yards without loud bangs, smoke pouring out of the engine and the doors dropping off. (by stormymonday_2011, posted amidst the Barclays Libor crisis on 02/07/2012)
Polster: why did you vote labour?
Labour voter: because I hate Margaret Thatcher
Polster: how old were you when she left Downing st?
Labour voter: 3
(by Robo1968, posted 10/05/2010)
From BBC HYS 15/05/2009:
"Last year, my MP's second home claim was £5,000 more than my total salary and now I find out that he's trying to charge me for cleaning his swimming pool!"
Polster: why did you vote labour?
Labour voter: because I hate Margaret Thatcher
Polster: how old were you when she left Downing st?
Labour voter: 3
(by Robo1968, posted 10/05/2010)
From BBC HYS 15/05/2009:
"Last year, my MP's second home claim was £5,000 more than my total salary and now I find out that he's trying to charge me for cleaning his swimming pool!"
#12
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Posted 27 March 2012 - 12:28 PM
"Steed", on 27 March 2012 - 12:14 PM, said:
No advise, but nothing but good luck and well done from me. If you can easily afford it and allows you lay down roots, then its the "right thing to do IMO."
I don't have an issue with your sentiment, but I can easily afford to pay £50 for a bag of crisps.
.
See Below:
It looks to me like there is a massive coordinated attempt by the various VIs to engineer a spring bounce by press releases and trolling popular Internet forums such as this.
Following the reported 1.9% monthly rise from a government controlled lender and the (expected) 0.5% rate cut, this forum seems to be targeted by bulls, many joining in the last few day to talk up the market.
The general drift seems to be... 'Savings accounts are paying a pittance so get into property now and pick up a bargain'.
I wonder if the various EA and lenders associations are emailing their members, suggesting that joining this forum to talk up the market would be a good idea.
Note: The above was posted in late January 2009, the following is updated as and when required.
See Below:
It looks to me like there is a massive coordinated attempt by the various VIs to engineer a spring bounce by press releases and trolling popular Internet forums such as this.
Following the reported 1.9% monthly rise from a government controlled lender and the (expected) 0.5% rate cut, this forum seems to be targeted by bulls, many joining in the last few day to talk up the market.
The general drift seems to be... 'Savings accounts are paying a pittance so get into property now and pick up a bargain'.
I wonder if the various EA and lenders associations are emailing their members, suggesting that joining this forum to talk up the market would be a good idea.
Note: The above was posted in late January 2009, the following is updated as and when required.
#13
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Posted 27 March 2012 - 12:37 PM
When you put an offer in say you want to complete by X date and if they are unwilling to agree to this then don't proceed.
Speak to a solicitor and discuss things with them - they might suggest something to go in the contract to assist.
Speak to a solicitor and discuss things with them - they might suggest something to go in the contract to assist.
Whoever you are, I have always depended on the kindness of strangers.
#14
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Posted 27 March 2012 - 12:43 PM
Bruce Banner, on 27 March 2012 - 12:28 PM, said:
I don't have an issue with your sentiment, but I can easily afford to pay £50 for a bag of crisps.
And if you ever go to London, you will.
#15
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Posted 27 March 2012 - 02:02 PM
I bought 6 months ago and it isn’t that bad.
EA’s aren’t really a problem. Rightmove search and only contact them when you know you want to view. I only ever viewed places with the owners or tenants. I was never even given an option to view with an EA.
Being very specific in telling them I was a FTB with a large deposit looking that a very specific location and house type, pretty much kept all of the carp away.
I bought into a chain and it went okay. Elderly couple downsizing, they had found somewhere they liked before they put their place on, so they were keen to sell and not just kite flying.. It took some time juggling, not terrible, just a bit of hassle.
Finance/Nationwide etc… all went fine. Solicitors where hopeless though, lost all the docs, so they had to be resigned. And it took an age to find a surveyor that was available to do the buildings survey.
House buying Doom is what you’d expect from this place, but it wasn’t anyway near as bad as the horror stories you hear.
It did however take me year to find the place and I did lose one place to a couple who decided they liked it so much they’d throw 10k over asking at it. It was nice, but not that nice.
Overall I’d say it isn’t really that bad, but do take your time, and don’t marry the first one that hops into bed with you..
Good luck.
EA’s aren’t really a problem. Rightmove search and only contact them when you know you want to view. I only ever viewed places with the owners or tenants. I was never even given an option to view with an EA.
Being very specific in telling them I was a FTB with a large deposit looking that a very specific location and house type, pretty much kept all of the carp away.
I bought into a chain and it went okay. Elderly couple downsizing, they had found somewhere they liked before they put their place on, so they were keen to sell and not just kite flying.. It took some time juggling, not terrible, just a bit of hassle.
Finance/Nationwide etc… all went fine. Solicitors where hopeless though, lost all the docs, so they had to be resigned. And it took an age to find a surveyor that was available to do the buildings survey.
House buying Doom is what you’d expect from this place, but it wasn’t anyway near as bad as the horror stories you hear.
It did however take me year to find the place and I did lose one place to a couple who decided they liked it so much they’d throw 10k over asking at it. It was nice, but not that nice.
Overall I’d say it isn’t really that bad, but do take your time, and don’t marry the first one that hops into bed with you..
Good luck.