So we found the house. We asked the questions we wanted to know. Then we went home to talk about it between ourselves and with our families. Decided we loved it. So what next??
Making an offer! This was really nerve wracking. Make the offer too low and we might not be taken seriously. Too high and we’d be paying more than we wanted to pay given how much work we needed to do to bring the property up to date.
Finally we decided on a price we’d be willing to pay with maybe a little wiggle room if it was refused. It was within the amount on our Decision in Principle, so we knew we’d be able to afford it and we were in a really advantageous position as first-time buyers with no other property to sell. Deep breath and here we go!
We rang the estate agents; told them the amount we’d like to offer and then had to leave it with them to pass on to the vendor. Our offer was quite low in comparison with the asking price, but it was worth a shot. Unsurprisingly it was rejected so we had another think and offered a slightly higher price which we were both still happy with. There followed a wait of several days whilst the vendor considered both our offer and one from another buyer. Then the estate agent came back to us to say it was accepted! Great news! We think we had the slight edge of being first time buyers and, as the house was empty, there is no upward chain either so it’s an ideal scenario for all!
Once the offer on the property was accepted, we booked another appointment with our mortgage adviser, and they processed the mortgage application. A valuation was booked by the lender so that they could check the house is worth the amount they will be lending to us on the mortgage and all the additional paperwork required was submitted. We were extremely lucky that the lender didn’t require any further information and the valuation proceeded without a hitch.
Whoop, whoop - our mortgage offer has come through! Great news – we can really get excited now! Obviously, all the solicitor searches must now take place but we’re hopeful that these won’t take too long. Unfortunately, we just have to have patience for a few weeks so we’re keeping our fingers crossed and trying to take our minds off it by browsing for furniture and paint online. 😊
I will update you again soon,