I have seen a house that I really like, and I am going to view it again tonight .Can i put in an offer even though I have not yet had my house valued or put on the market?
Also if the vendor accepts my offer can she then go on to sell to someone else if they put in an higher offer? Desperate Please help
2006-09-27 00:25:10 · 17 answers · asked by jo f 2 in Home & Garden ➔ Other - Home & Garden
Explain the situation to the owner. I did the same thing, and she waited for me to sell mine. Put a time scale on it, we allowed 2 months for us to sell ours before the owner put it back on the market. If you are serious enough about moving to be looking then you need to get your house on the market asap.
2006-09-27 00:28:34 · answer #1 · answered by Emma W 4 · 0⤊ 0⤋
Is it my house? Please buy my house!
Anyway, you can put an offer on a house at any time. However, for the offer to be considered a "strong offer" by the seller, sellers usually want to see evidence with your offer that 1) you have been pre-approved for a mortgage by a qualified mortgage lender 2) you are "unemcumbered," meaning that you either don't have a house to sell or a house that you own is under contract and all set to close 3) you have put down a decent deposit 4) your suggested closing date is reasonable and allows the seller enough time to move out.
I have my house on the market, and no way would I accept your offer if you do not have a contract on your house yet. If someone accepts your offer, they will probably accept it only under the provision that they are allowed to continue to show their house and take an offer from someone else if it comes along.
Don't worry, you'll find another house you like. Just get off your butt and sell your house if you're looking for another already!
2006-09-27 00:35:35 · answer #2 · answered by nido_tr3s 5 · 0⤊ 0⤋
This a really risky way to go about moving house.
1. You're offer will not be taken as seriously as a buyer who has sold and is ready to proceed.
2. The seller would be mad to take the property off the market so unless you are very luck you will most likely end-up being gazumped.
3. You may have to take on a Bridging Loan (expensive) if your offer is accepted and you find yourself paying-off two mortgages until your property is sold.
4. You will now be in a weakened negotiating position for your sale because if your offer is accepted you'll be desperate to sell your old house as quickly as possible.
Check out the article below for a better explanation...
2006-09-29 06:51:26 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, you can put an offer in but the house will stay on the market becuase you are not in a position to buy yet. Essentially all you are doing is registering your interest.
Because you are in a poor buying position they are unlikely to take offers, you'd have to offer full price. They will accept it and continue to market thier house.
And why not ? There are plenty of houses I'd like to buy I'm not yet in a postion to buy them, it would be folly for the owners to take it off the market.
Any estate agent worth thier salt would advise then to keep the house on the market.
Its not gazumping as soemone else said, quite simply you are not in a position to buy yet.
We had many takers for our house when we sold 2 years ago, what really counts is someone who is in a strong position to move.
Even once you sell yours, even if you've got the cash in the bank, they can still sell to anyone else right up to the day of completion ( not just exhange ) if they are willing to pay the compensation ( normally 10% of the cost of the house ), although thats not usual.
This answer assumes you are in England or Wales that is. Definately not Scotland and I'm not sure about Northern Ireland
2006-09-27 01:20:13 · answer #4 · answered by Michael H 7 · 0⤊ 0⤋
We saw one last week we have had a value on our house but hadn't got it on the market.
And we put in an offer so that the people selling the house knew we were interested but pointed out to them that we need to sell ours first.
They said they wouldn't be prepared to take the offer yet as it could take a year to sell ours or whatever and to try again when we're in a position to move a bit closer.
If you really want it you can of course go for a bridging loan this covers the value of the house you have until you sell it so basically they lend you the full asking price of the properrty you have seen and you pay that back ontop of your mortgage and when the house sells you pay it back! VERY PRICY THOUGH!
Good luck Hope it's not the same house we've seen lol
2006-09-27 00:38:02 · answer #5 · answered by coulditbemanilow 3 · 0⤊ 0⤋
Your offer would not be binding as you cannot come up with the money straight away. The vendor would have a verbal agreement with you that they will accept the offer but if somebody else views the property and they have the mortgage/money the vendor will have the right to accept it.
2006-09-27 00:32:42 · answer #6 · answered by Tabbyfur aka patchy puss 5 · 0⤊ 0⤋
dont put in an offer if you dont know FOR SURE that you can cough up. so value your current house first. and yes the vendor can still let other people view the property if you have put in your bid and they think someone might offer more. sorry but its the way it is. put a deposit down and they cant pull out- not easily anyway.
2006-09-27 00:28:25 · answer #7 · answered by london lady 5 · 0⤊ 0⤋
How your situation is dependson which country in the uk you live in...If you are in Endland you can put in an offer and pull out at any time before the missives have been signed. In scotland its a bit harder to get out of so you need to be more cautious, best thing is to get a pre sale valuation for your house asap and that will give you a fiar indiciation as to how much you should expect to get for yur place and ho long it should take to sell
2006-09-27 00:34:50 · answer #8 · answered by Simon B 1 · 0⤊ 0⤋
If you need to sell your house before you buy, write the offer contingent upon the sale of your current home. If your offer is accepted the seller cannot accept another offer as long as you abide within the terms of your contact.
2006-09-27 00:29:50 · answer #9 · answered by Anonymous · 0⤊ 0⤋
yes the vendor can as the term gazumped still applies in England and why have you not got your house valued, for gods sake do it immediately if you have your heart set on this house or it will break your heard if it sells, v
2006-09-27 00:35:07 · answer #10 · answered by womam12 5 · 0⤊ 0⤋