Made my first offer for a flat

[The_Equalizer]

Yes, but scale it up

Isn't that just a donkey with a fluffy tail then?

[Sysman]

So we can look forward to:

Offer rejected.

Offer increased.

Offer increased again.

Offer accepted.

Put deposit on flat.

Tried to get mortgage.

Got mortgage.

Exchange of contracts.

Completed.

Got the place insured.

Moving in.

Bought new curtains.

Have I missed anything?

Yep.

Last minute legal hitch.

Building Soc wants another survey.

Some extra insurance requirement appears from nowhere.

Solicitors make mistake with their bill, but if you don't pay up in full, no keys to the flat.

Last minute legal hitch (again).

Move in.

Try to get overpayment back from solicitor.

Swear you'll never buy another property again for a good many years.

[Freamon]

So we can look forward to:

Offer rejected.

Offer increased.

Offer increased again.

Offer accepted.

Estate agent calls to say there is another higher offer.

Offer increased.

Estate agent calls to say the other bidder have made a better offer.

Offer increased.

Estate agent calls to say the other bidder have made an even better offer.

Pull out of buying flat.

Estate agent calls to say the other bidder has lowered their bid slightly and the owners are happy to sell to you at your most recent (highest) offer.

Agree and confirm offer, which is accepted.

Put deposit on flat.

Tried to get mortgage.

Got mortgage.

Exchange of contracts.

Completed.

Got the place insured.

Moving in.

Found out estate agent was lying and there was never any other people interested in the flat at all.

Feeling suicidal.

FTFY.

[AtW]

So we can look forward to:

Offer rejected.

Offer increased.

Waiting for their response now...

[MarillionFan]

Waiting for their response now...

I bet some 17year old out of college gazumps you by a tenner and you can't match it.

[eek]

Waiting for their response now...

So the story will now go:

offer accepted.

Regrets not offering £20,000 less.

purchase completed

Flat above / below is bought by landlord who moves 55 bobs in.

[Scrag Meister]

So we can look forward to:

Offer rejected.

Offer increased.

Offer increased again.

Offer accepted.

Put deposit on flat.

Tried to get mortgage.

Got mortgage.

Exchange of contracts.

Completed.

Got the place insured.

Moving in.

Bought new curtains.

Have I missed anything?

Yes you did.......New sofa delivered.

[PAH]

My bet is if AtW needs a significant mortgage the bank's valuation will fall short of the amount to be borrowed, so they'll pull the deal unless the seller reduces their price accordingly.

It's no coincidence that most mortgages require 30% or more deposit. That's the likely fall in price they're expecting on the property in the near term and are only interested in covering their backs in case the mortgagee defaults.

[AtW]

It's no coincidence that most mortgages require 30% or more deposit.

I don't know where you got from - 15% already gets low rate in the building society that in principle approved mortgage amounts necessary to buy the place.

[TestMangler]

What about this then ATW ?

Future Auctions Schedule: 59 Castle Street, Port Bannatyne, Isle of Bute

Not very handy for commuting, but you should be able to pay it off within ten years or so