So on sunday we worked out the renovation costs of the properties but came to the conclusion that the one we really wanted was the larger of the 2, of course that makes it the most expensive one as well. What really attracted us to this property, apart from the room dimensions, was the original victorian features it still contains, it has beautiful original marble fireplaces, the original ceiling roses and cornicing (currently covered in canary yellow gloss paint!!!) the original sash windows are sadly rotten through and will need replacing and the house has damp but that’s not unusual in victorian properties. We will also need to rewire and replumb the entire property so its not a job for the faint hearted.
The property is on the market for £189,000 and we think a minimum renovation cost is going to be around £30,000 and that’s with us doing most of the work so taking this into account we decided we would offer £178,000.
Monday morning arrives and I call the estate agent and discuss our situation and the state of the property. As we don’t have a property to sell we are in a nice strong position for purchasing I put our offer forward. The Estate agent says he thinks the vendor is looking for more than this but as he hasn’t sold it yet he will see what he says.
Later on yesterday he called me to say he’d left messages for the vendor to call him but still waiting to hear back.
This brings us on to today, I called the estate agent because we are off on holiday tomorrow and would like to know today as we can’t guarantee we can be contacted again until monday next week. The agent hasn’t yet spoken to the vendor as he was with another client when the vendor called him back.
Its a nail biting time as the more we think about it the more we want this property and while I am sure we will get it and that the price is the only stumbling block, we also want to try and get it sorted so we can be in by Christmas and it is still theoretically possible but every delay at this stage will make it less likely.
So fingers crossed (and toes as well!)
So making an offer on your first home is easy the waiting to hear back is much harder and I have to resist the temptation to call and up the offer since I know it hasn’t been rejected yet. Sometimes you will hear back almost immediately and that is a much nicer scenario for your peace of mind!
