| That's really bad luck Ruth.
Bizarrely, although first time buyers have it tough when it comes to saving for a deposit and getting a mortgage together, once that's sorted they hold the whip hand, 'cos they know that the lack of complication they offer to the seller will have people falling over themselves to keep them sweet.
Did you hear on the radio the other day that first time buyers have now started 'underzumping'? Come in with an offer that's initially higher, wait until one or two days before exchange of contract, then drop their offer by quite a few thousand quid. What's the seller gonna do? Accept it or start the long process all over again and lose the house they're buying as well.
I couldn't operate like that, but then 'integrity' seems to be a very old fashioned attribute doesn't it.
It's been said many times before, but the Scottish system is the way to go. I find the 'offers over the guide price' system they use a bit weird, cos that's just like a lottery with people offering something like 30% over the listed price in some cases , but the notion that once you've accepted an offer you are legally bound by it (I think you can get out but it costs an arm and a leg), well, that's spot on!  |