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TeaPea

Putting An Offer In On First House

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Hey, I have been on here for what seems like forever, and I am starting to think a big house price crash isn't coming.

I saw a mortgage adviser last week, and with the deposit I have saved and my circumstances was able to get 'the green light' for a mortgage.

With my deposit and the mortgage, the maximum I can spend is 115k - which is fine as I wouldn't want to commit myself to a mortgage I couldn’t afford anyway!

I work in Hull and this is plenty to buy a house around here.

I know the area I want to be in (perfect for work/decent area) however, for the sort of house I'm after the asking price is more like 140k, there's actually 6 near identical houses for sale within a few streets, but every single one is priced at 139 or 140k

Would it be unreasonable to offer them all 115k and see if any of them accepted? Or is this being unrealistic? According to property bee some of these houses have been for sale at this price since last October and haven't dropped the price at all.

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Would it be unreasonable to offer them all 115k and see if any of them accepted? Or is this being unrealistic? According to property bee some of these houses have been for sale at this price since last October and haven't dropped the price at all.

Fishing as a buyer seems to be frowned upon. Pick the one most likely to accept 115k and make an offer explaining that's the most you can spend.

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Hey, I have been on here for what seems like forever, and I am starting to think a big house price crash isn't coming.

I saw a mortgage adviser last week, and with the deposit I have saved and my circumstances was able to get 'the green light' for a mortgage.

With my deposit and the mortgage, the maximum I can spend is 115k - which is fine as I wouldn't want to commit myself to a mortgage I couldn’t afford anyway!

I work in Hull and this is plenty to buy a house around here.

I know the area I want to be in (perfect for work/decent area) however, for the sort of house I'm after the asking price is more like 140k, there's actually 6 near identical houses for sale within a few streets, but every single one is priced at 139 or 140k

Would it be unreasonable to offer them all 115k and see if any of them accepted? Or is this being unrealistic? According to property bee some of these houses have been for sale at this price since last October and haven't dropped the price at all.

The old saying is "If you dont ask you dont get"

Its worth doing research into what these properties have been selling for in the past and use to your advantage. Also if any of the properties require work then include that into your reasoning.

Ive made offers below asking price even with the statement of "offers in excess of" backed up with my reasons, so dont feel ashamed.

However if like a property and your happy to pay the asking price then do it.

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Pick the one you like most, offer what you want. Leave the offer on the table.

If not immediately accepted, move down to queue to the one you like next best and make an offer. Continue this process until you run out of houses that you would want to live in. You may get several accepted, or none at all.

At the bottom of the last dip in 1996 we made an offer on a house that had been on the market 2 years but was overpriced compared to the one sold across the road. It stayed on sale for neary 3 years more, complete with a couple of price rises as the market inched up. In the end they gave up and still live there.

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Hey, I have been on here for what seems like forever, and I am starting to think a big house price crash isn't coming.

I saw a mortgage adviser last week, and with the deposit I have saved and my circumstances was able to get 'the green light' for a mortgage.

Would it be unreasonable to offer them all 115k and see if any of them accepted? Or is this being unrealistic? According to property bee some of these houses have been for sale at this price since last October and haven't dropped the price at all.

First of all. Do not fall in love with any of them !!! Then if you see yourself living in any of them place offers on one or more, as long as you are serious. Do not offer any more than £110...then if you can go as high as £120K see what happens and hope for the best.. Set yourself a strict limit on how high you are actually prepared to go.

If the estate agents ask why you are offering on more than one just tell him you are serious but are keeping your options open and you know its a buyers market. I fhe says they will not accept, juct ask him to kindly put the offer to the vendors anyway. (they may come back to you in a couple of months)

Good Luck !

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If you can wait just 6 more months to buy a house, do it

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If you can wait just 6 more months to buy a house, do it

While I agree with your sentiment, what can you guarantee will happen in the next 6 months?

Many of us are fed up waiting for the toaster to pop.

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While I agree with your sentiment, what can you guarantee will happen in the next 6 months?

Many of us are fed up waiting for the toaster to pop.

Yes and the toaster has been turned on since 2001. It`s happening but at a snails pace.

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Thanks for the comments guys, Went and drove round today and got all the house numbers, the one I am intending to look at first is on the market at 140k and the current owner paid 103k in 2003 for it, it's been on since April and has had no price drops.

Having played with my figures I can go up to 120k but no higher as if I go higher I will loose my 85% LTV which is imperative to get a lower rate!

Though I'm tempted to wait, I have been waiting for the last 12 months and I don't think I can live at home much longer with my parents as I have just turned 25 and itching to get out, though I'm in no huge rush!

I can't see a crash unless IR's go up and it's just not happening :(

I'm going to ring the EA tomorrow to arrange a viewing.

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  • 337 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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