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I hate flat hunting!

post #1 of 16
Thread Starter 
As you know, I have bought a house in france which is currently being renovated. But with the balance on my savings I am trying to buy a flat in London to keep a toe in the property market there and to rent out as income. I just spent a week there viewing. There was one two bedroom place in a modern block I really liked, secure, very well done up and convenient for shops and transport (it is actually part of a large shopping mall). But I was then told that it was under offer so I kept looking. I eventually put in an offer on another place, only one bedroom, but very nice, in a street that is scheduled for some redevelopment and so will increase in value. But the owners are sitting on my offer and not telling me or the agent anything. Now the first agent has just told me the other flat is on the market again, as the buyer fell through. I am in a quandary and I am not even sure I can get out of my offer even if I wanted to! The prices are roughly the same, the one on which I have offered being marginally cheaper. I hate this - it is worse buying something to rent out than buying to live in - I have to keep thinking with my head, not my heart!
post #2 of 16
Oh Jenny, how frustrating for you!

I found it difficult enough when I was looking for a place to rent - I just can't imagine what it must be like to buy, let alone buy to let!!

Have you contacted the agent about the property you have put an offer in for? You might be able to cancel the offer as the present owners delaying things?! It would be worth a try - especially if you explain that your situation, living abroad, means that you'd like to get things sorted sooner rather than later?!

I hope you manage to buy the property that you want and things go more smoothly from now on! I'll be thinking of you!
post #3 of 16
Thread Starter 
Just heard from both agents - the one I prefer thinks he can let me know tomorrow if hte flat is really on the market again - the other says she thinks the vendors will take a decision on my offer on Monday as that is when they will know about the place they are buying. But now I feel unethical - I am not yet legally bound by anything, but if I withdraw my offer then they have to find another buyer, though their flat is so nice that I am sure it would go quickly. I hate this, though I know all is fair in love and property!
post #4 of 16
........and you need to do what is best for you!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
post #5 of 16
It's a buyers market out there Jenny and your not just spending a few ££, so just think of your feelings on it, not the sellers.
post #6 of 16
My dad just bought a flat in sicily!
Its hell work! But i cant wait untill i have money to buy my own place one day
post #7 of 16
Helen's right - you have to do what is right for you! Offers falling through happen all the time - look at what just happened with the apartment you prefer!

Good luck!
post #8 of 16
Good luck, Jenny! I think it's really wise of you to invest in London real estate, and hope you get the flat you prefer.
post #9 of 16
post #10 of 16
As exciting as this is, it must be so stressful, Jenny. I know you'll make the very best, well thought out decision!
post #11 of 16
Thread Starter 
I have just heard that the vendor of the flat I like has agreed to my offer! So I have burned my boats by withdrawing the other offer. Now I just have to keep everything crossed that the sale will go through smoothly. I have instructed my solicitor and a surveyor and can only sit and wait until someone demands a cheque from me! I feel bad in some ways but I would have regretted it for ever if I hadn't changed, and the vendors of the original flat did keep me hanging around for too long - if they had agreed last week, then it would have been too late to change.
post #12 of 16
Pfftt it's one of those things Jenny, don't worry they'll sell it eventually.

Great to hear the others have accepted your offer though so i hope things go through quickly for you all
post #13 of 16
We have a saying here in the states "You snooze, you loose"!!
I hope the rest of this transaction goes smoothly for you!!
post #14 of 16
Wishing you the best
post #15 of 16
Quote:
Originally Posted by jennyranson
Just heard from both agents - the one I prefer thinks he can let me know tomorrow if hte flat is really on the market again - the other says she thinks the vendors will take a decision on my offer on Monday as that is when they will know about the place they are buying. But now I feel unethical - I am not yet legally bound by anything, but if I withdraw my offer then they have to find another buyer, though their flat is so nice that I am sure it would go quickly. I hate this, though I know all is fair in love and property!
You hit the nail on the head Jenny.........all is fair in love and property!
post #16 of 16
just wondering if there is more news - all good I hope!!!
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