First-time buyer blog: It’s time to take a break from the home hunt

October 7, 2011 at 2:09 PM 1 comment

This is a legacy post from the findaproperty.com blog which is now maintained as an archive within the Zoopla blog. Links have been preserved.

Recently, things were looking up with our house hunting. We made the big decision of offering on a lovely house which was over the stamp duty threshold.  It was bigger than we needed, but has a lot of potential and could last us for a long time. The property had been on the market for eight weeks, had recently dropped in price and was being marketed through two agents. This vendor really wants to sell, we thought.

We were not discouraged when our first offer was rejected, as the vendor wanted to meet with us direct to negotiate a price. This was a new one for us, usually we are making offers direct through the agent and have never met the vendors.

On this occasion the vendor showed us around the house too, I got the impression the vendor liked the “hands on” approach to selling their house. We liked the vendor, the vendor liked us. We met the vendor a few days later, who put forward their price.  We went away and thought about it, went back to the mortgage advisor and was all set to make another offer, which would see us move up in price a lot more than the vendor would have to drop.

We booked another viewing, not the dreaded “third” viewing, but our second. It’s an awful lot of money we would be investing into this house so we wanted to be sure. We kept the agent up to speed and he knew how keen we were on the house.

The day before our second viewing the vendor took the house of the market. I was disappointed at the time, but now I’m relieved that it wasn’t further down the line and we didn’t end up being victims of the new menace facing potential home buyers – gazanging (where the vendor drops out of the sale after an offer has been accepted).

We have decided to stop looking for a house, for the time being. We’ll most probably start again in the new year. I was really hoping to finish this blog on a happy note, but it got to the point where it had consumed us as a couple. I’m quite a determined person, and after four months house-hunting I sometimes think I have failed a little bit.

We have learnt a lot, and that experience will hopefully hold us in good stead when we begin our search again. Fingers crossed….!

You can follow Emma via twitter at @polkadotcherry

Entry filed under: Diaries, Diary of a first-time buyer. Tags: .

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1 Comment Add your own

  • 1. TimP  |  November 2, 2011 at 5:28 PM

    Good post Emma. It can be really frustrating finding a home. Check out a company I recently used called Sundaybell. They have a classroom section that really answers a lot of questions. And by looking at the work you’re doing you should ask for a Buyers Rebate if your doing most of the work yourself. You can do it all there.

    Good luck,

    Tim

    Reply

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