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pipllman

Tips For Ftbs From Rightmove

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He doesn't quite say get down on your knees and beg

"So what can first-time-buyers do to get on a level playing field versus buy-to-let investors?

This is a tough battle, as there are lots of logical reasons why a seller would prefer to sell their property to a landlord investor. Their funding is often a safer bet as they typically have larger deposits or cash, and it could be said that they are less likely than less experienced first-time-buyers to pull out before exchange as their business mind-set lessens the risk of an emotionally inspired U-turn that sometimes scuppers a sale.

Rightmove’s Miles Shipside, who practised in estate agency for over 20 years, shares some tactics and suggestions:


“Win over the heart, mind and pocket of the seller. Buy-to-let investors will give sellers logical reasons for accepting their offer over a first-time-buyer, so do whatever you can to be not only among the first to view, but also to meet or communicate with the owner and make sure they know how much you would love to own, occupy and cherish their property. Most owners have sweated hard to create a home and become very attached to it, so emotionally would prefer to pass on their property legacy to your caring hands rather than those of an absentee landlord.

“While the agent will advise on the best and least risky offer to accept, the ultimate decision is the seller’s. You can mitigate the seller’s concerns by getting your financial affairs in good order and ensuring you have an agreement in principle for a mortgage, giving sellers and agents peace of mind in this area. Finally, landlord investors are in business to make a return, so may habitually try lower offers as they’re less emotionally attached to the properties on which they are bidding as it’s not their future home. If you can find out what fair price the seller is ideally looking for, and you can afford it, then your bid for their home may well be better for their pocket than a landlord’s and also give them a feel-good glow for helping you onto the property ladder.”"

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Win over the heart

What a load of BS , the vender will sell to who ever bids the highest , also I'd imagine some of the vendors will be Landlords so again will just be after the best return.

Also yes its pretty clear that BTL is competing directly with FTB's for 1 and 2 bed properties.I have noticed in my area is these properties that are moving the quickest and have biggest mark ups on price. Subsequetly they return to the rental market at inflated prices so the FTB has not only missed out on owning now they are asked to pay higher rents

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And you'd probably expect to get the highest out of ftb (more likely to have an emotional attachment - probably likes the property, and maybe quite keen to escape the current rental etc. whereas a landlord should just be thinking about the financial side and doing what he can to get a bargain)

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So at the end of the day you need to outbid the BTL investor? But I thought the Property118 bunch didn't compete with FTB's. Someone is being economical with the truth.

:lol:

Shipside will change his tune as soon as the market suits him, in my opinion. MMR came in April 2014, and I suspect he thought it would have more of an initial impact. However it's a glimpse of how they turn from 'boom today' in order to push and encourage the buying side, with kiss up to the sellers - then give sellers a bit of a kicking, to encourage lower prices, when market looks like it's cooling. Transactions.

Rightmove Index June 2014 Shipside notes: “Many serious buyers who were waiting in the wings have now bought and moved in, taking a slug out of the pent-up demand for a few years to come, and the consequent chatter on the street is that quality buyers are now thinner on the ground. The next wave of buyers may have less motivation or ability to buy and sellers are going to have to be sensitive to their local market and not pitch their asking prices too high as choosy buyers will not arrange to come and visit.”

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He suggests that sellers get "a feel-good glow for helping you onto the property ladder".

?!!

Why would someone feel good about helping a fellow human to take on a quarter century of debt?

Clearly the more you pay the better value you get

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My eldest is about to complete their studies. Next year.

My advice is : Rent, rent , rent. For 10yrs if required. Do NOT buy into this ponzi.

If it's still going in 10yrs time, then I will sell up and go live in the back country of some 3rd world far flung place. As my home will be worth £1M at this rate ;)

Offspring can then collect my death money in 20+yrs time and repeat. But do not buy into the Ponzi.

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