# Putting an offer on a house? First home...



## Kap01 (Aug 12, 2007)

Hello people..

Little back ground to my issue, me and wife have been watching a number of properties for the last 12 months. One in particular which was in our top 3 has been on the market for over 12 months. At £158k (down from £165k) we decided to go and view it 3 weeks ago... 

Well it happened... we loved it... ! :argie:

Due to the current buyers market and time the house has been on the market we offered £130k (not expecting much) but it was a place to start, as expected it was rejected. Two weeks later £135k was offered, again rejected. 

Over the weekend we started to window shop for a house that we didn’t OWN! My heart and head told me we had to have this house... it ticked all the boxes. 

Today I called the Agent and offered £140k, she simply said the seller wanted 150k which I would have gone to but left it at that...... and thought its best I go home think it over.

So I have come home and noticed its SOLD!! :wall: with agent one, the house is advertised by two agents. 

Now is it just our BAD luck it sold on the same day as my latest offer or is the agent pulling a fast one ??

My current thoughts are to ring Agent two and offer 150k?? Help ? 

Me and Wife are feeling so deflated  worst of all its our anniversary today

If it has gone then so be it... we live and learn.. 


Thanks in advanced.


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## The Cueball (Feb 8, 2007)

Kap01 said:


> If it has gone then so be it... we live and learn..


No harm in trying... but IMO you bid what you are prepared to pay, don't mess about.....

Harsh lesson to learn... but so many people do it....

I have just bought a house too, just offered the asking price, as I wanted it.... I could have tried to get a few grand off it... but what is a few grand over 20 odd years.....

As I said, no harm in trying the other agent, maybe even leave your number just incase it all goes pete tong...

Chin up anyway.... if it's gone, then it wasn't ment to be...

If it is, then you will get it...

:thumb:


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## JoeNobody (Feb 21, 2010)

I don't think you'll be able to ring the 2nd agent to make another offer - when we sold our place recently and we had to notify both agents who'd made offers through the other one so there was no conflict. It could be the agent pulling a fast one - you'd think they'd call you to let you know about the offer and to give you a chance to match it, although you never know with Estate Agents.


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## Kap01 (Aug 12, 2007)

Both valid points, thanks.


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## Black Squirrel (Feb 24, 2010)

No harm in ringing the other agents.
wouldn't have thought the agents are pulling a fast one, no point as they could loose your genuine offer.

I am in a similar situation at the moment. We saw a house that has ticked all the boxes and were going to put in a greatly reduced offer, but on the day we went to offer, they said another offer had been received from a cash buyer, 10k under asking price. We have put in an offer of the asking price which was finally accepted. It is more than we wanted to spend but we love the house and it ticks all the boxes. We just thought that we wouldn't get another opertunity like this andso jumped in both feet. We are about 6/7 weeks down the line and haven't quite completed yet, due to various surveys etc. We could still pull out at any time, so you never know, stay in contact with the agents and register your interest, you might get that call.

Good luck


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## Kap01 (Aug 12, 2007)

Black Squirrel said:


> No harm in ringing the other agents.
> wouldn't have thought the agents are pulling a fast one, no point as they could loose your genuine offer.
> 
> I am in a similar situation at the moment. We saw a house that has ticked all the boxes and were going to put in a greatly reduced offer, but on the day we went to offer, they said another offer had been received from a cash buyer, 10k under asking price. We have put in an offer of the asking price which was finally accepted. It is more than we wanted to spend but we love the house and it ticks all the boxes. We just thought that we wouldn't get another opertunity like this andso jumped in both feet. We are about 6/7 weeks down the line and haven't quite completed yet, due to various surveys etc. We could still pull out at any time, so you never know, stay in contact with the agents and register your interest, you might get that call.
> ...


Wish I would have done the same!


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## alan hanson (May 21, 2008)

we were watching a house we viewed it rang up to put an offer on and were told they have already had an offer and accepted it, though as its uder offer i could still put an offer in in which he was legally held to put forward which he did. We ended up offering 6k more than the other offer which they rejected. Im so glad as we got a house better loction much bigger and cheaper.

As hard as it is try not to get sucked in (as this is were it gets expensive by not paying too much attention to certai areas and gettin to caught up in the good points most houses have bad points which need looking at (though 12 months doent sound like you are). if its not meant to be its not meant to be something will come up eventually.

best of luck


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## Kap01 (Aug 12, 2007)

Our intial plan was to start viewing after christmas but this house seemed ideal at a great price... we possibly made the mistake of viewing. Interesting to know that I can still put an offer in. 

Generally we always use our head.. which why it sold lol! Maybe bit more heart would have got it. Well I will call agent 2 first thing and see where we are at.

Fingers crossed.


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## Black Squirrel (Feb 24, 2010)

I must admit, we first saw the house we are buying, 5 years ago. We just didn't have the money for it at the time. The bloke who bought it said it was his house for life but unfortunatley for him, his business has suffered in the reccession and the house has been repossessed. We have basically been thinking about it for 5 years and couldn't not put an offer in when we saw it for sale again. We didn't want to loose it again.


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## AliBailey88 (Oct 13, 2009)

me and the mrs got our house a few months back, was up for 185k we wacked in a offer of 170k as we had seen it had been on the market for a while, 1 hour later it was sold to us, im only 22 and shes 20, not bad.

Theres loads about mate, set your limit and stick to it.


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## stangalang (Nov 27, 2009)

Kap jo and I did the same thing, the house of her dreams, but now we have a better one. Everything for a reason mate. It wasn't meant to be!


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## Estoril-5 (Mar 8, 2007)

Kap, being in the housing game, one peice of advice, do your research.

there are many reasons why you may see this house back on the market in the near future.

a few things to think about

1. why was it with 2 agents? surely 1 is good enough unless its too dear, remember by havingtwo agents, both take comission even though only one will sell it, part of the contract

2. do you have a mortgage in place? have you seen an INDEPENDENT mortgage advisor?

3. do you have a deposit to put forward?

4. are you in a chain?

keep an eye on the property, things arent like they used to be, a lot of things can happen and the sale may fall through.

if you really want it, id call the other agent (theyll want your business as its more comission for them) and act like you havent seen it and want to view, make sure you tell him the positive points of your position i.e. cash buyer, large deposit, no chain, can complete within 28 days etc

its not always about the highest offer, its about who is more likely to complete the sale, that puts the bread on the table.

if you need more info get intouch.


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## Kap01 (Aug 12, 2007)

Thank you all for the great feedback, Estoril-5 I will try your tactic today... We are in a god position whereby we have a deposit in place, no chain, mortgage ready to go.

Cheers.


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## JoeNobody (Feb 21, 2010)

Estoril-5 said:


> 1. why was it with 2 agents? surely 1 is good enough unless its too dear, remember by havingtwo agents, both take comission even though only one will sell it, part of the contract


Interesting comment. We used 2 agents, although we started with just 1. After the agreed initial period we took on the 2nd agent (house was overpriced, although not overvalued  so took longer to sell than expected). Only the agent who sold the house got the commission. Both agents explained what needed to be done to ensure there would be no issues regarding the commission.


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## herbie147 (May 30, 2010)

If it's a house you really really want you've got to be prepared to pay near the asking price or more. I paid almost an extra 10k to secure my home as there was lots of competition and it was the perfect house for me. 3 years I've been here and I love it!


It maybe it a buyers Market at the mo but no-one is goi g to accept an offer 20k lower than asking price unless they are totally desperate. With that paltry offer, then waiting 2 weeks before submitting another offer, It couldn't have been your dream home. I'm not surprised you missed out on a house you like.


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## Kap01 (Aug 12, 2007)

herbie147..I wouldn't call it our dream home but it ticked the boxes, its all very well going in hard and offering more then the asking price... But its a question of having the cash for it!!

I agree the offer was low ... But If you dont ask you don't get. Everyone wants a deal, every seller has a different circumstances. If someone is desperate to sell then I would take full advantage and no shame in admitting it, unfortunately life isn't fair..... I would never pay over the asking price for a house... Buts that's just me.

Thanks for info JoeNobody.


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## Estoril-5 (Mar 8, 2007)

i must stress that the price advertised, the valuation of the property and 'sold' price are three different things ant not necessarily in cohesion with one another.

i saw a house advertised for £300k, and then sold for £220k.

your thinking thats amazing, but im thinking why did it sell for £220k if it was 'worth' £300k, although we dont know the facts but im betting it was overpriced.


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## herbie147 (May 30, 2010)

Kap01 said:


> herbie147..I wouldn't call it our dream home but it ticked the boxes, its all very well going in hard and offering more then the asking price... But its a question of having the cash for it!!
> 
> I agree the offer was low ... But If you dont ask you don't get. Everyone wants a deal, every seller has a different circumstances. If someone is desperate to sell then I would take full advantage and no shame in admitting it, unfortunately life isn't fair..... I would never pay over the asking price for a house... Buts that's just me.
> 
> Thanks for info JoeNobody.


Yeah I see what mean, quiet market and nothing ventured, nothing gained.

Its a bit different up here in scotland, there aint much fixed price houses for sale (depends on area). Most house sales here are 'offers over XXX' so if there is competition there is scope to make more cash than the house is worth.

Paying back an extra 10k or so over 25 years isnt exactly going to amount to much on your monthly repayments (depends on your circumstances).

If you want a house badly you have to bite the bullet and go for it.

Buying your home is the best investment you will make, it will always make you money in the end :thumb:

Climb the ladder, start at the bottom and work upwards. Bought my first flat for 53k in 2003 - sold it for 155k in 2007


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## s2kpaul (Jul 27, 2006)

ive had nearly 6 month of house stress lol the 1st house was advertised at 147k we offered 140k was rejected and settle at 145k. Cut a long story short we got the the final week before moving in and the mortgage company said no we wont lend on the house. So we started looking again and found a nice house, nice area and 1.3 acre of land  it was offered at "in excess" well we loved it but it was above budget but the house fairy was looking down on use and we got 10k off the price  and cash back   so in theory never be afraid of going in low .


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## one_question (Nov 12, 2008)

Is this your dream home and the one that you want above all others? Or is it third in your top three?

If it is the one that you must have then you could gazump the current buyer. May not work though as some sellers won't entertain it (we wouldn't). Also, by offering a really low offer initially, you could have peeved off the seller.

What I would do is to keep an eye on the property; the sale could fall through. Do your homework on how much houses are selling for in general. Then add on or take off based on things like house size, location, how well kept, etc. Add on whether the house is a 'must have' or reduce your offer if you're not really that bothered - that said, if you're not that bothered - when you come to sell it - other people may not be bothered too.

If by some fluke the house sale does fall through, get in to the estate agents and offer your offer. 

Main thing is is to do your homework. Find out what a house is worth, both in general and to you. If you put in a severely reduced offer (as in your case), you may get the house if the seller is desperate but I think it is a bit risky on a house that you really want.

G


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## PugIain (Jun 28, 2006)

Flipping heck £150k on a first house!? Im looking to spend no more than 85k.Bugger owing £100s on just the mortgage every month,
So far Ive had a nightmare with houses,First one turned out to be damp as hell after WE found it and 2 surveys missed it.2nd one just on saturday got withdrew from the market.After we'd agreed a price and payed for a survey.
Not happy.


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## s2kpaul (Jul 27, 2006)

mouse price and property snake will give some nice vlues to the house price and what they sold for, you have to register but it very usefull.


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## Kap01 (Aug 12, 2007)

Just a quick update .....

The house is officially SOLD !!! To meeeeeee !! :thumb: 

We are now currently waiting on the legal work etc... basically paying to sit on paperwork!! :wall:

Agreed on a price of £151k in the end which we are happy with plus £500 on completion (a few minor issues which they have agreed to help with)

I really wanted to get it before xmas but its not likley.

Really looking forward to the new year.... new house.... and my very first

*GARAGE !!! *

Thank you to all positive comments. Hopefully my next thread will be in the garage sections!


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## Black Squirrel (Feb 24, 2010)

Well done!!!!!!

Really pleaed for you

On a side note, as posted in the beginning of the post, I should be completing on our house purchase next week:thumb:


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## stangalang (Nov 27, 2009)

Absolutly awesome news pal, congratulations


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## t1mmy (Dec 9, 2006)

Great news, glad you got it.


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## Kap01 (Aug 12, 2007)

Thanks guys


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## Kap01 (Aug 12, 2007)

Black Squirrel said:


> Well done!!!!!!
> 
> Really pleaed for you
> 
> On a side note, as posted in the beginning of the post, I should be completing on our house purchase next week:thumb:


Nice one mate... its all a bit manic im sure you must agree! We seem to living in currys, DFS and b&q at the moment... and we dont even have the keys !


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## WHIZZER (Oct 25, 2005)

Congrats Kap


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## peanut1 (Dec 29, 2009)

Congrats mate!! only just seen this thread. For future reference evryone, If you make an offer on a property, wether its already been agreed and the legals are going through, the agent, by law, has to put your offer forward, even if its a dual agent and you offer through one and then go to the one who has apparently done the deal! its how gazzumping happened! they dont have to tell you how muc the other offer is unless its a repo!


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## Rob_Quads (Jul 17, 2006)

RoverIain said:


> Flipping heck £150k on a first house!? .


lol - Depending on the area that could well be the starting price. Mine was £156k. 85K would get me a bedsit if I am lucky.

To the OP - Well done - now the fun begins and you can make the place your own.


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## monkeyone (May 22, 2007)

Congrats! We just starting to save for ours after working to clear our debts first. Hope it all goes through OK.


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## PaulN (Jan 17, 2008)

Kap01 said:


> Nice one mate... its all a bit manic im sure you must agree! We seem to living in currys, DFS and b&q at the moment... and we dont even have the keys !


Good luck, but dont get too carried away with ordering all your stuff. Keep on at the Solicitors and agents and get the deal done.

Speed is the key.

On my Inlaws adivce we popped wanted notes along a road in houses we fancied, got a call from one of them, an hour later, we was around viewing and an hour after that we agreed a price and completed within 2 weeks. 

No Agents at all as the previous owners had just been thinking about moving!!!!


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## adamck (Dec 2, 2010)

Im compeltely stuck, my job is secure and not too bad wage any my gf is not long into her self employment and doesnt make much ££ or have any books to show.
so its all on me, i can get about £75K on my own which wouldnt even buy me a flat (well anything more than a 1 bed box)
Im hoping for shared ownership with my current landlord on the house we currently rent.
Even when we have both our books we can only get about £120K with £15K deposit, its rediculous how they expect people to have this kind of money.


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## Rob_Quads (Jul 17, 2006)

adamck said:


> expect people to have this kind of money.


Whos the one 'expecting'?

You could argue that why do people 'expect' they should be able to own a house so easily.

Unfortunately its all about risk and after all the recent problems they are not going to make it easy for you.


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## adamck (Dec 2, 2010)

How would i go about ever owning a house in my situation?
I cannot lend enough for a house on my own, i cannot save up for a house as renting is eating up all my money evey month.
Im already on a 'good wage' for my age/job, i already work other jobs on the side too.
I cannot see me ever saving up £20,000 as a deposit and even if i did have the cash they wont lend me enough to buy a house let alone do it up.

My girlfriend could get a normal office job and we could possibly get about £120,000 max but this still wouldnt get us very much around here, maybe a basic 2 bed flat.


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## S63 (Jan 5, 2007)

I really feel for you younger guys, I'm one of the more fortunate ones having got on the ladder during the Thatcher era enabling me to buy my council home. Having said that it has taken 40 years of hard graft to hopefully realise my dream and get the hell out of London and buy a nice house by the sea, that is of course if I can sell my London flat for the right money, reading your stories that might not be so easy.


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## Gruffs (Dec 10, 2007)

Great news Kap.

It's lovely when you decide to take the plunge.

We are excited too. We would never have been on the housing ladder if it were not for the deal we have just got.

A developer has reconditioned some RAF officers houses near us and needs to sell them. They recognised that there are people on good salaries but that they would need 10+ years to save the deposit for the house.

So, they gave us 20% of the SALE price (we had to find 5%) which gives us a 25% deposit. We have a mortgage for the remaining 75%. We have to pay the 20% back in 10 years time by either re-mortgaging or we can pay it off as we go but, as it's interest free, it makes more sense to pay off the mortgage (i.e. overpay) and re-mortgage later.

It's 4 bed and 1950's solid loveliness, we never have to move and we have a DRIVE, GARAGE (it's 1.5 cars wide too) and a GARDEN worth mentioning. Modern properties always left me feeling like they were not really worth striving like a ******* to invest in. This one does.

No en-suite but i can walk to take a crap and i'm not doing it in my bedroom either.

As a sweetener, they replaced the carpet throughout as the tenants smoked in it (USAF personnel, not paying the rent/deposit so they don't care). We pointed it out and that they could take it out of the deposit and they agreed.


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## Kap01 (Aug 12, 2007)

PaulN said:


> Good luck, but dont get too carried away with ordering all your stuff. Keep on at the Solicitors and agents and get the deal done.
> 
> Speed is the key.
> 
> ...


Dont worry... only window shopping for now! , nothing will be ordered until we get the keys!

Thanks though. Thats a great story ^^:thumb:


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## Kap01 (Aug 12, 2007)

Gruffs said:


> Great news Kap.
> 
> It's lovely when you decide to take the plunge.
> 
> ...


Sounds like you got a fantastic buy!

We have only put down 10%, the rates between 15% and 10% are marginal.

Our aim is to over pay the mortgage payments per month to try and gain our capital ownership to 15% maybe 20% with luck After two years we should be able to get a much better rate.

Our deal is 5.49% fixed for 2 years.. but with this we get free legal, £500 cash back and free insurance for a year. Not the best rate but have to start somewhere, plus we wanted to have cash to buy stuff etc.. try to avoid credit.


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## Kap01 (Aug 12, 2007)

adamck said:


> How would i go about ever owning a house in my situation?
> I cannot lend enough for a house on my own, i cannot save up for a house as renting is eating up all my money evey month.
> Im already on a 'good wage' for my age/job, i already work other jobs on the side too.
> I cannot see me ever saving up £20,000 as a deposit and even if i did have the cash they wont lend me enough to buy a house let alone do it up.
> ...


I would say possibly move back home? Second weekend job? Unfortnatley in these cases you have to do what it takes!!

We have saved by living at my parents place, its not the the most ideal soltuion, basically living in one room but you have to look at the light at the end of the tunnel.

I bet you could save loads in 6 months.


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## kh904 (Dec 18, 2006)

Kap01 said:


> I would say possibly move back home? Second weekend job? Unfortnatley in these cases you have to do what it takes!!
> 
> We have saved by living at my parents place, its not the the most ideal soltuion, basically living in one room but you have to look at the light at the end of the tunnel.
> 
> I bet you could save loads in 6 months.


I agree, that's what i've been doing!

It's really difficult for this generation to get on the housing ladder. We (the public) have been duped to think that it's good if house prices go up (if you're an owner). 
Think about it, all property prices have increased by lets say 10x (over 20 years?), but were did this extra money come from to pay for the increase? It doesn't exist!

It's just credit that the bank creates, at the moment you take out a mortgage, & they charge you interest on it.

So if the majority of people's wages are going towards the mortgage each month, there's less to spend on other things (not good for the rest of the economy).

Anyway back on topic!

I've always been living with my parents (i've just turned 30 now), but in the asian culture it's not unnormal. This has enabled me to save most of my wages for a deposit for my house. I've just seen a property, reasonable cost, size etc not outstretching myself, and have decided to put a bid in for it.
With a mortgage offer and 30% deposit, i'm in a good position.


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## Kap01 (Aug 12, 2007)

Well done mate, you have done well save 30% !

I agree banks are to blame on everything...


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## adamck (Dec 2, 2010)

I have too much stuff to move back to my parents, plus my gf can't move back to parents (they live in cyprus) and I have a dog too.
So movin home is out of the question!
I'll find a way somehow.


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## Kap01 (Aug 12, 2007)

adamck said:


> I have too much stuff to move back to my parents, plus my gf can't move back to parents (they live in cyprus) and I have a dog too.
> So movin home is out of the question!
> I'll find a way somehow.


Good luck with it mate.


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## Bero (Mar 9, 2008)

Well done OP - glad it worked out in the end!



peanut1 said:


> For future reference evryone, If you make an offer on a property, wether its already been agreed and the legals are going through, the agent, by law, has to put your offer forward, even if its a dual agent and you offer through one and then go to the one who has apparently done the deal! its how gazzumping happened! they dont have to tell you how muc the other offer is unless its a repo!


Except in Scotland where a verbal agreement is a contract and therefore gazzumping can't happen (although it's not all good as we normally have an 'offers over' system where pitching your price can be difficult)



adamck said:


> How would i go about ever owning a house in my situation?
> I cannot lend enough for a house on my own, i cannot save up for a house as renting is eating up all my money evey month.
> Im already on a 'good wage' for my age/job, i already work other jobs on the side too.
> I cannot see me ever saving up £20,000 as a deposit and even if i did have the cash they wont lend me enough to buy a house let alone do it up.
> ...


There is no 'right' to own a house and what do you expect for a 1st property? A basic 2 bed flat is a lot better than some/most! If you want it that bad make sacrafices; make the effort to move home or downsize your rented house when you can; cut outgoings, try to increase incomings (second job, sell stuff on ebay, deal drugs) get the dog put down....i'm only joking thats would cost money.....much cheaper drowning it (please take that in jest ) Personally i rented one of the the cheapest places i could find before buying a small one bed flat; now i've still got the flat and moved into a 2 bed house with my OH last year.



Kap01 said:


> Sounds like you got a fantastic buy!
> Our deal is 5.49% fixed for 2 years.. but with this we get free legal, £500 cash back and free insurance for a year. Not the best rate but have to start somewhere, plus we wanted to have cash to buy stuff etc.. try to avoid credit.


A mortgage is credit too! Although i know what you mean.....

Ok i'll stop being righteous now; wind my neck in; and shut up!


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## SuperchargedLlama (Apr 25, 2008)

FYI - when it comes to looking at properties on sites such as RightMove, there is an unoffical plugin for FireFox called Property Bee.

What this does is displays all history of an entry so if the estate agent just keeps updating the same entry (which most of them do) it shows you any amends made. This includes the description, the price and most importantly it shows you the dates of when these things happened.

This is what it looks like: 

Uploaded with ImageShack.us


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