Buying a house - your help please!!

The way I see it, you've got nothing to lose.

Put the question in with the offer and see what happens.

Not being funny here but.....

If I was the seller I would be turning down you offer because I needed the 5K to move and also you haven't sold your flat and aren't in a position to proceed.

I definately wouldn't tell the agent I would use them to sell my flat because I would want to check what rate they were going to offer and I really wouldn't say I would let them arrange my mortgage as I would want to be very sure (especially in this credit crunch climate) that I was getting the best deal.

MBK, I can't quote you for some reason....

They inherited it, they aren't moving. 2 brothers are involved.

We are mortgage free so we can borrow the whole amount and pay off a chunk of it when we sell our flat. In fact, it would be better if we exchanged first as i can still live here while some of the work gets done. It needs everything ripped out; bathroom, kitchen, carpets, wallpaper, the lot.

And I have already had valuations and information about fees from this agent, they were one of about five. They have an independant mortgage adviser, fee free.

Then you have nothing to lose. - Go for it.

Really? It can't be that simple, surely? I thought that maybe there would be something glaringly obvious like perhaps i couldn't use the same agency to sell if I was buying from them......oh well then, it looks like game on! I am sticking to my guns about the money so we will see how long it takes to sort everything out!

Thanks all x

I would ask the question, but if I found out the deal as the seller I wouldn't be happy with my Agents, who are they working for the seller or the buyer?

However, I'm sure they may say yes, they work out a compromise, it also depends on how adament the seller's are. They can't move them if they cant be moved.

Very true Scarlett, I hadn't thought of it that way.

To be honest I know that Im going to be in the same position as the vendor youre trying to buy from, and even though the house is inherited doesnt mean that every penny of the sale isnt needed, for one reason or another. Id stick to my guns as a vendor and try my level best to get the best price for it.

I know that the proceeds of the house Ive inherited and will be selling will either be going to pay off the mortgage on my home, or more likely to buy a building plot for a self build, so every penny does count.

As scarlett said, the agents are acting for the vendors, and if as a vendor Id found out that a deal had been struck by the buyer and the agent, Id not be a happy bunny and probably pull out altogether.

Thanks, WelshTotty. I forgot to add that we viewed more houses today, these viewings were arranged yesterday, so before the EA came back. One of the agents we saw today said he had been to that property and valued it at exactly the amount we offered. It does look like they are wanting too much and that the offer we made was very sensible. We're not trying to be cheeky, just offering what we can afford based on the fact it needs about £20k spent on it.

Well its a different story if its on the market for over the market value!

Theres nothing wrong with being cheeky in offering, most if not all people would give it a go, its always worth a try. But do remember even though your offer is a 'sensible' one its ultimately up the vendors is they sell or not. Theyre in no rush if they dont need the money for something else remember, and could just sit on it until someone does pay what theyre asking, they have all the time in the world!

House buying and selling is never straight forward!

I m pissing myself at "its been on the market for over two months" ?

and actually, the comments of "its money for nothing to them" are pretty thoughtless. you dont know their situation, nor is it any of your business. there may be all kind sof reasons why they have said no to the offer.

finally, it would be a pretty despicable thing to even suggest to the agent that you will give them your business if they talk their client into selling. but i applaud that ?

Tell me about it! I never had to do any of this before, I was a FTB and this was a new build so I just said I will have that one please, when will I move in, cheers. Soooo easy.

Any room for compromise then, may go rise it £2,500 and reiterate your buying position. Two months is not a great length of time on the market and this is probably what they are banking on.

Ahah my quotes are working now.

In this area, properties used to turn over in a week or two. Two months these days is an eternity! I suppose you are right, who knows what they need/want the money for. The main point was though that they aren't in a chain. My idea may not be morally correct but as long as it isn't against any rules, I will give it a bash. That £5k could be a new bathroom or kitchen so we really don't want to pay it.

I'd stick to your guns but not mention selling your flat with them etc.. If I was selling the EA would have little influence on what price I was willing to accept.

At the moment anyone buying is in a strong position so don't budge especially if that's all you feel it's worth.

Pissing myself laughing at despicable thing to do - isn't that how the game works, the agents would rather have 2 sets of business than 1 and keeping control of the whole chain through one agent makes things easier surely.

It's a buyers market, they've landed the wrong time to inhertit a house, their loose your gain, but equally I wouldn't accept an offer from somebody who isn't even on the market yet, get yours sold and then go back with your orginal offer or it maybe less depending on what you sell yours for, the market may have dropped further by then or not.

But Bella, Mal doesn't have to sell her flat to buy the other one.

I would say Mal, if you are not wanting to compromise on the price then you don't really want the house. Keep on looking.

Also I'm sure agents would do it, but if I was a seller and found that out then I wouldn't be happy with the agents at all. They obviously have an idea of how much they are prepared to drop by hence them asking Mal to up her offer by £5,000.

It is Mr Mal who really really wants it. I would be happy to live there but I am not looking forward to all the work involved!

I did say that if he desperately wanted to secure it then we could go up by £5k. But he said no, we will stick to our guns and see what they say.

Off to bed, I will let you know if there is any news tomorrow! x

Do you need a conveyancer, a little light of work at the moment??

We have someone arranged thanks, lol. But no surveyor yet! I am sure she will point us in the right direction.

But maybe I could be persuaded if you do a wee Hitcher's discount? ?

Only kiddin....right I neeeeeed my bed

Doh sorry, that'll teach me to not read the whole thing.

Sounds like a great bargaining tool then to get the agents to talk the sellers down ?

I agree, you thinking offering your mortgage and sale to the EA will strengthen your position, will categorically not. No seller will be influenced by their EA.

However, you are in a strong position; make sure the vendor is aware you are ready to move, no need to sell etc and i would stick to your guns as it is currently a difficult time to sell and in a circumstance without any other offers, the vendor might reconsider.

In regards to your mortgage, please make sure you shop around independently, you will save well over that £5k price differential in the long run if you get the best deal as opposed to one through an EA. Also, you mention about borrowing the whole lot and keeping your place when you move in - just be aware there are currently no 100% mortgage deals available so you will need a deposit of at least 5%, more if you want a better rate.