Buying my first house

[Snoozy]

It seems the housing market is changing, I sold my flat last year and bought a detached house in a nice area for a good price since it needed significant work doing.

It was then just about a buyers market, now it seems to be inbetween a buyers and sellers market and the balance seems to be tipping in favour of the sellers in the coming year.

Gazumping is coming back icard

 

[AmiNeo]

Gazumping?

 

[moggsie]

It seems the housing market is changing, I sold my flat last year and bought a detached house in a nice area for a good price since it needed significant work doing.

It was then just about a buyers market, now it seems to be inbetween a buyers and sellers market and the balance seems to be tipping in favour of the sellers in the coming year.

Gazumping is coming back icard

A failing and desperate Government doing everything to get house prices up to get GDP up and get a 'feel good/richer' factor going just before a general election.

Instead of investment in manufacturing and exports we have a bunch of elite morons only interested in speculation and short termism.

Don't think I'd make a good politician. I want the best for the majority not the minority.

---------- Post added at 16:51 ---------- Previous post was at 16:50 ----------

Have been gazumped

Effing C*nts

Keep your chin up duder. May be a blessing in disguise.

---------- Post added at 16:54 ---------- Previous post was at 16:51 ----------

Gazumping?

Someone offered more money.

If I remember rightly, in Scotland, gazumping is illegal once a deal is agreed.

 

[AmiNeo]

[/COLOR]

Gazumping?

Someone offered more money.

If I remember rightly, in Scotland, gazumping is illegal once a deal is agreed.

Ah I'll remember that one.

I thought the role of a government was to run a country on behalf of the majority of the best interests of their population. That definition rarely rings true if ever. :roll:

Spock for Prime Minister! "The needs of the many, outweigh the needs of the few, or the one".

 

[moggsie]

I thought the role of a government was to run a country on behalf of the majority of the best interests of their population. That definition rarely rings true if ever. :roll:

The golden rule of dealing with Government is:

Ignore what they say, Watch what they do.

 

[AndyLandy]

Gazumping?

It's the process of making someone a better offer. It's a concept that has an analogue here on AmiBay (and it's against our rules).

If I offer an Amiga 5000 for sale for 300 credits, and you declare interest first, you should get the item. But MrNaughty sends me a PM saying he'll give me 400 credits for it, so I sell it to him instead. That's gazumping.

Have been gazumped:-(

Effing C*nts

Dude! That really sucks.

 

[limboy777]

Effing C*nts[/QUOTE]

Dude! That really sucks. [/QUOTE]

Wanted the house as it has a separate office for my retro gear and it was being sold cheap as the house needed work and the owners inherited it.

Cant afford anything that big. All the other houses we were interested in have had offers and being sold. The market seems to have really picked up.

Im thinking of gazumping him back, Ive already paid for solicitors and survey fees. I wish they made this illegal in England as well

 

[irn-bru]

If I remember rightly, in Scotland, gazumping is illegal once a deal is agreed.

Yeah, that's true. We have to have the seller give us confirmation in writing which is then legally binding.


Sorry to hear the news, limboy. Hopefully something will come but remember the saying...

"Whit's fur ye, 'll no' go by ye!"

 

[AmiNeo]

What's meant for you won't go by you?

I suppose that's the same as, "que sera sera".

 

[limboy777]

Ive put in another bid as the estate agents have put the house up for final and best offer...

Will find out tomorrow if I have got it (again) but Im paying a lot more than what was originally agreed.

Don't really like any of the other houses as much as this one.

If the other chap gets it...I know where he lives

 

[moggsie]

One thing I would say me old mate, as annoying as it is that some t**t has outbid you, don't over extend yourself. Have a maximum budget and stick to it. Remember, every penny extra you spend buying the house the less you then have to spend doing it up. Especially don't over extend just to feel you "beat the **** who gazumpted you". I wouldn't be surprised if the slimey EA introduced the other bidder to this house to get you into a bidding war.

As Al Murray once said, "You never see an old estate agent. Because it is possible to die of shame".

 

[irn-bru]

What's meant for you won't go by you?

I suppose that's the same as, "que sera sera".

Yeah, I pretty much mean that there's a house out there with limboy's name on it and it'll be the perfect house... the one that was meant to be.

 

[AmiNeo]

What's meant for you won't go by you?

I suppose that's the same as, "que sera sera".

Yeah, I pretty much mean that there's a house out there with limboy's name on it and it'll be the perfect house... the one that was meant to be.

I concur.

 

[Retrograde]

One thing I would say me old mate, as annoying as it is that some t**t has outbid you, don't over extend yourself. Have a maximum budget and stick to it. Remember, every penny extra you spend buying the house the less you then have to spend doing it up. Especially don't over extend just to feel you "beat the **** who gazumpted you". I wouldn't be surprised if the slimey EA introduced the other bidder to this house to get you into a bidding war.

As Al Murray once said, "You never see an old estate agent. Because it is possible to die of shame".

I agree on principle, though it's possible to somewhat underestimate supply/demand. If there are few properties in the areas you are interested in it might be worth to take it for a slightly higher price, as long as the running costs + interest + downpayment don't end up breaking your projected budget / month.

Most houses are resellable sooner or later in an OK area, it's a very rare thing around the large cities here at least that properties lose value.

PS. And most R.E. are shady I agree, from what I heard it's not common to have a flat rate (to cover marketing) provision plus a percentage, or a tiered percentage even, depending on the final sale price. So they have an incentive of course to find as many bidders as possible to drive the price to a maximum.
Or to enlist fake bidders even who are just there to drive up the price, then back out because "they couldn't secure financing after all".

 

[moijk]

Today we'll have the first open house day on our house, so you'll free to move to beautiful Norway if you want a change of scenery (well, it probably looks a bit like uk anyways. Beside that the Norwegian girls are prettier )

 

[limboy777]

Im still waiting for the outcome of my newest bid. Im going for my last shot as I think the house is undervalued in the first place (the owner has emigrated abroad).

I think as the market is rising and as I plan to keep the house for at least 15-20 years then its worth the extra for me. I can see the house working for my family in that period of time and it has lots of potential for expansion.

My latest bid is still within my budget so wish me luck chaps...

@mojik - if you can get me a job in Norway as well then I will come over! Thankfully I have a hot looking wife!

@retrograde - the estate agent I am dealing with seems to have a reputation for mystery bidders. My brother was about to buy a house from them and even after agreeing a price, they tried to increase it. Therefore this is my last offer before I look elsewhere. Ive started to resign myself to the fact that:

1) The other buyer may be genuine and he may have bid higher and therefore I lose the house (but he's an AS$hole for bidding when he knows a sale has been agreed)
2) The other "buyer" is fake and I am paying a lot more than originally agreed
3) There may be a scam where the Estate Agent/relatives of or friends of the estate agent want the house cheap so they can get it cheap and make a profit later and therefore are trying to put me off from buying it.

Either way Ive lost a lot more than originally planned...

 

[salaxi54]

Dunno what to say man, but i wish you luck in getting there!
As about the kitchen and bathroom stuff you mentioned earlier, may i advice a bit of caution. You see, since you're not a DIY'er, you would naturally require assistance from an experienced technician.
Before you go out and buy what you believe is a bargain, keep in mind that not all kitchens n' bathrooms fit in all homes!
What i'm trying to say, is that although you might think 'it fits', it might not.
House peculiarities can be very frustrating and surprising to the owner.
You may have a slightly 'not-so-straight' wall here, a weird corner there, floor irregularities etc. etc.
After you manage to acquire your property, make sure you find that expert, and take him along when you find what you consider a bargain. He needs to have a good picture of both your home, and the 'candidate' kitchen/bathroom. Don't rush into closing a deal before you make sure things will work out for ya.

 

[Phipscube]

Just recently bought my own house and it already had a nice fitted kitchen, but man, owning your own place sure does sap every spare ounce of time.