M
MissRibena
Guest
Hi everyone
I've found a house I want to buy. I can afford it once my own house is sold and my house is going on the market tomorrow. What are my options in securing the purchase of the house I've set my heart on in light of the fact that I know the seller has other interested people (although I don't know about any offers)?
As I understand it, I could:
1. Pay a booking deposit and let matters proceed to contract as normal. Have contracts include a "subject to sale" clause and hope she doesn't find anyone with cash up front before she signs or that my house sells really quickly.
2. Pay an inflated booking deposit to show how serious I am (assuming the bank will give that to me).
3. Investigate some kind of briding finance - how expensive is this and how likely to get it would I be?
Vendor knows I have a house to sell and I'm crap at lying/fibbing etc. so that's not really an option. Also she's only moved up the road, so she'd be my future neighbour (fingers crossed).
I'm trading down so the actual price of the house is fine, the problem is that all my savings are in an SSIA so I'm going to have to get some bank credit no matter what I do and I'm wondering what the smartest way to go about this is without losing this house.
Thanks in advance
A slightly stressed
Rebecca
I've found a house I want to buy. I can afford it once my own house is sold and my house is going on the market tomorrow. What are my options in securing the purchase of the house I've set my heart on in light of the fact that I know the seller has other interested people (although I don't know about any offers)?
As I understand it, I could:
1. Pay a booking deposit and let matters proceed to contract as normal. Have contracts include a "subject to sale" clause and hope she doesn't find anyone with cash up front before she signs or that my house sells really quickly.
2. Pay an inflated booking deposit to show how serious I am (assuming the bank will give that to me).
3. Investigate some kind of briding finance - how expensive is this and how likely to get it would I be?
Vendor knows I have a house to sell and I'm crap at lying/fibbing etc. so that's not really an option. Also she's only moved up the road, so she'd be my future neighbour (fingers crossed).
I'm trading down so the actual price of the house is fine, the problem is that all my savings are in an SSIA so I'm going to have to get some bank credit no matter what I do and I'm wondering what the smartest way to go about this is without losing this house.
Thanks in advance
A slightly stressed
Rebecca