Owning your own home

I'd follow it up tonight if it's not too late, or early tomorrow.

It could be that ^ or they might not have heard back from the seller, but either way there's no harm reminding the estate agent you're keen and putting yourself in the forefront of their minds.

The vendors will be waiting for better offers. If they don't get any then you might be in luck. Depends where the place is - in some areas stuff is going over asking. You should be in a strong position as its a cash buy but you can't blame the vendor for waiting, it's only been on the market four days.

Yep. Just antsy.

Spoke to the agent who said he was told by the vendor this morning they'd wait and see how the rest of the viewings went. They only have one other cash offer which ups our odds and the vendor said he'd said ours was decent. Especially as the owner is looking to move quickly. Crossing fingers. Will chase again tomorrow so we're front of mind etc.

You buying in brighton?

I've not heard back about my offer from this afternoon and I'm getting antsy...

Trying to :)

#antsybuyers4lyf

AND... Exchange!

Early next week i will be a home owner!

arrrrrgh you win !

massive congrats!

Are you going to get the place cleaned or is vendor doing it before moving out?

Congrats.

Now to do everything you can to increase the value of your new asset whilst fucking over all the people struggling to find a decent place to live. https://www.conservatives.com/join

Congrats!!!

#rep

Congrats mate!

Congratulations.

BOOM. Congrats mr.

Bang goes the neighbourhood...

How accurate is Zoopla at price predictions? Any ideas what it bases it on?
My house is in a row of very similar (possibly originally identical) houses and the prices vary by about £100k.

Also a place a few doors down with a similar floor plan plus loft conversion is on sale at more than double what ours cost in 2011... Does it really make that much of a difference?

Zoopla is a random number generating machine.

^ Essentially, yes. The expanded version goes something like this:-

Zoopla just works off the land registry sold prices data; e.g. what the house in question has been sold for and when, and what the prices have done in the road/general area over the years.

Because it's just based off land registry sold prices data it can't take into account things like:

• the condition (sudden price increases due to revamp/modernisation)
  
• extensions and other improvements since the last sale
  
• properties sold off cheap due to other circumstances (split/divorce, etc)
  

@ChainBreaker - Ian, congrats mate!!! Still waiting for mine :(

4 years makes the difference. Where are you? My place has gone up by about 75% in three years, going by what other places nearby have sold for.

Ah ok thanks, that makes sense considering most of the houses haven't changed hands for >15 years.

Hackney Wick. The price is is about 50% more than the zoopla estimate for my place (50% more than purchase price)...

What's all this best and final offer bullshit?

Callback from agent just now to say the vendor likes the fact we're cash but given the interest doesn't want to take it off the market just yet for 10k under asking.

He said a decision will be made by tomorrow 12pm.

Agent asked us for 'best and final offer' this afternoon or tomorrow morning.

He didn't specify if there had actually been other offers though my inference was that there hadn't yet been any offers other than ours though one buyer was having a second viewing today.

He also hasn't said whether any of the other interested parties are cash or mortgage.

If its early days and you are ok to risk it; retract your offer by £5K .. fuck em and their tactics.

Ha! Rly?

Thing is we like it, it's a good area - substantially better than what we've seen on the market in recent months, not massive scope for improvement (i.e. extensions) but certainly new kitchen and bathroom will up its value considerably. Great big garden, sea views blah. I think we could pass on this or retract 5k etc and not find anything for months and we really need to be out of this renting lark (2.5k rent a month is a nonsense).

We could probably get 234k cash of 240k asking. But that would be an uncomfortable stretch.

Where's Kirstie fucking Allsop when you need her.

Yeah don't retract obvsly but makes my blood boil with these tactics .. stay with the OG offer. You certainly have an advantage being cash buyers.