Putting an offer on a house? help!

[jenna]

weve finally started looking for a house to buy, i was just wondering if any one knows... It says on the websites that you make an offer before you sort a mortgage out so you dont lose out on the house. Does it cost you to make an offer? and if your offer is accepted and you cant get a mortgage for it what happens?

 

[leckershell]

I can't exactly answer your question but we have been looking recently too and were told to get a mortgage promise before offering on a house. You should be fine because no matter what the estate agents say to try and rush you, the house market is dead at the moment, interest rates are unstable and people are more likely to accept low offers.

Book in to see one of their mortgage advisors to get a "agreement in principal" before you put an offer on... I would anyway. But that's as far as we got so I can't help with what happens when you actually put an offer in.

 

[Tangerinedream]

We put an offer on this house and the estate agents set us up with an their mortgage adviser. It didnt cost anything to make the offer

 

[happy-chick]

Making an offer doesnt cost anything & secures the house, you then need to speak 2 a mortgage advisor and arrange an agreement in principle (some people do this before making the offer but its entirely your choice), make sure you know how much you can borrow first though. If for whatever reason you cannot get a mortage for the right amount or change ur mind you can pull out of the deal.

I this website will help you: http://www.adviceguide.org.uk/n6w/index ... a_home.htm

 

[Chrissy1]

We moved house last year and what we did was have a word with our financial advisor before we did anything so we knew exaclty how much we could get on a mortgage and knew what price range we needed to be looking for houses in. It would have been pointless looking at houses that were way out of our price range. We couldn't have a formal agreement on a mortgage because we didn't have a house to mortgage at that point.

When we found a house we like you make 'an offer in principal' this is basically an offer of what you will pay for the house pending an agreed mortgage offer. It doesn't cost anything to make an offer and up to the point of exchanging contracts you can pull out at any time......but beware, so can the seller! E.g. if they get a better offer and you haven't yet signed your names they can pull out too. Once your offer has been accepted then you go back to your mortgage provider and sort out the mortgage.

Hope this helps a bit but if you need any more help just give me a shout......

c
xx

 

[Strangeness]

I would get an agreement in principle asap if you're looking. It lasts a few months and it at least gets you started. It doesn't cost to make an offer cos making an offer doesn't mean you are bound to the house until you exchange contracts. We're in the process of buying now and we're waiting for a our full mortgage offer pending them looking into income etc but that isn't a problem. It's a long process though but I think once you're mortgage is offered it's just waiting for a date!

 

[Steelgoddess]

Making an offer doesnt cost anything & secures the house, you then need to speak 2 a mortgage advisor and arrange an agreement in principle (some people do this before making the offer but its entirely your choice), make sure you know how much you can borrow first though. If for whatever reason you cannot get a mortage for the right amount or change ur mind you can pull out of the deal.

I this website will help you: http://www.adviceguide.org.uk/n6w/index ... a_home.htm

I agree

x

 

[mayday]

Definitely get an 'offer in principle,' it will show the vendors that you are serious. If they have 2 offers on a house for the same amount, a vendor will go for the one who has the money agreed. It does not cost anything to make an offer if you have not arranged a mortgage, but you should be certain you can borrow the amount you offer. However it also does not cost anything to get an offer in principle (it shouldn't cost, although you could be charged an arrangement fee when you do take out the mortgage.)