Thank you! I’ll phone them tomorrowPhone your bank, they will be able to tell you how much you can afford to borrow and give you a Decision In Principe which is basically a document that says they have agreed to lend you the money subject to approval. When your offer on the house gets accepted you send them a copy of your DIP so it can be taken off the market whilst the sale goes through. Hope it all goes well for you!
I’m not sure where you’re based but you don’t need a decision in principle in order to get a house taken off the market. You just need to have your offer, made via a solicitor, accepted - and the solicitor will act on your behalf before you’ve provided proof of funding etc. That comes later. In my experience I’ve been asked if I’ve sought mortgage advice etc but I’ve never been asked for proof.Phone your bank, they will be able to tell you how much you can afford to borrow and give you a Decision In Principe which is basically a document that says they have agreed to lend you the money subject to approval. When your offer on the house gets accepted you send them a copy of your DIP so it can be taken off the market whilst the sale goes through. Hope it all goes well for you!
I’m in the U.K. - north west to be precise. Thank you. I’ve emailed a mortgage advisor so hopefully they come back to me soon.I’m not sure where you’re based but you don’t need a decision in principle in order to get a house taken off the market. You just need to have your offer, made via a solicitor, accepted - and the solicitor will act on your behalf before you’ve provided proof of funding etc. That comes later. In my experience I’ve been asked if I’ve sought mortgage advice etc but I’ve never been asked for proof.
Even if you get a decision in principle from your bank, I’d still go to a mortgage lender as your current bank might not be offering the best rate available to you.
Its a newly refurbished 3 bed close to Liverpool for cheaper than anything I've seen before that wouldn't need a lot of work to move into. There's only 2 of us, it's potentially not a forever home but it's not something I'd look at selling any time soon as we are not going to have kids etc. Chances are I'm not going to get this house, he said there was over 30 interested so its all food for thought. I wouldn't be jumping into any house other than this one at the moment.I’d be cautious buying a property right now unless it is a forever home. I’m in the north west too (Mcr) and we had a house sale fall through recently. I’ve been watching the market for nearly a year and people are still listing houses at crazy prices when all signs are pointing to an upcoming economic recession. obviously if it’s unique, a dream house etc then that’s different, but if i were you I’d have a good think before you commit to a major financial purchase right now.
No I know that he’s likely exaggeratingTo be honest I’m suspicious of him saying 30 other people have expressed interest. That would be unusual right now. Unless he was to give you objective evidence of that, I would take everything he says with a hefty pinch of salt. He wants to sell the house and he knows you are interested, he’s hardly going to say that nobody else has shown interest as that could affect the offer you make
Price wise I don’t know the London market. They may just be chancing their arm to get more cash for their larger house? In terms of the short occupancy I would be suspicious too that they have discovered a problem. I would 100% want a full survey of the house expecting if it’s oldHi everyone, I’m a first timer buyer and looking for some advice…
my boyfriend and I are looking at flats in London, we have found a really lovely 2 bed, with a garden and separate living room and kitchen and it’s own entrance. The asking price is £500k. We went to view it, and it is really lovely, it is in the location we currently are renting in, so we know we like the area. The only downside, is that it backs onto the train line, you couldn’t hear the train when inside, but obviously when in the garden you can, so we are abit apprehensive about that.
Now this is where we are confused, we have looked online at the history of the property, and the current owners bought it in April 2020 for £461k .. since then, they have made the garden abit nicer, added fitted wardrobes, painted and added carpets in the bedrooms, but to me all of that is just cosmetic and tbh personal preference and doesn’t justify the Property being up for £40k more than 1 year ago.. when I look at other properties on the street, a 3 bed flat with a garden sold in December 2020 for £470k, a 3 bed terraced house sold in September 2020 for £480k. I just don’t think the price is justified.. and I know that we can offer whatever we want and what we think the flat is worth, but it just makes me question it..
I also wonder why they are moving after only 1 year, they have said that their family is expanding and so they are looking to upsize in the same area, they don’t have a kid already, so if they are having their first child, why would they not stay in the same flat, as it has 2 bedroomsJust seems a bizarre thing to do considering they bought it 1 year ago.
we were told that they had an offer accepted on the flat 2 weeks ago, but those buyers pulled out, which makes me wonder.. why..
I just have a weird gut feeling about it, despite loving the flat a lot
what do you guys think?
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