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Hello, my name is Jonathan from House Buy Fast. Today, we are going to have some questions
from Zoopla Q&A section.
George, my colleague, is going to ask the questions. I haven't seen these before, so
apologies for any hesitation.
What does under offer mean? Does it mean that an offer has been accepted? Could I still
make an offer or can you make an offer if you haven't sold? This is the question from
T20max.
Jonathan: Right, okay, the under offer is the same as subject to contract or sale agreed.
It basically means that somebody has put an offer and has been accepted by the owner,
and so you might see under offer or something like that on the board and on the advert.
Yes, you can approach the agent to make an offer. They are duty bound to submit an offer
to the owner, and then it is up to the owner whether they take it or not.
If you are trying to go in at a higher price to push out the first buyer, that is called
gazumping. People don't particularly like it, but it is great for vendors. They get
a higher price and it gets agents a bad name, but they do it anyway. They have to, by law.
Yup, go ahead and make an offer if that is what you want to do. Just be aware that if
the owner gazumps and sells to you, it means that they may well do it for you if a higher
offer comes along from somebody else. So, be careful.
The next one is from Ellaca.
Hello, Ellaca.
Is there anything I should know if I am thinking about buying a mobile home? Is there anything
I should know if I am considering buying a mobile home, other properties are out of my
price range. It is probably the only thing that I can afford considering I have to sell
mine to fund my mother care.
Mother's care?
Yes.
Okay, yeah. Mobile homes are very popular. They do provide warm, comfortable accommodation
at reasonable cost. The only thing I would say is that they are not normally mortgageable
in the same way as a property because they have a limited life that they will be useful
for, because obviously, they are going to eventually rust away in to nothing, whereas
a house will always be there as well the land.
Check things like park costs as well, and just in case there is any high maintenance
charges or anything like that. Obviously, shop around.
Normally, second-hand park homes, obviously, are quite a lot cheaper than band new ones
and there is a certain difficulty in selling them, second-hands. You should be able to
get quite good buy, but be aware that, obviously, when you come to sell it, if you do eventually,
you are going to also struggle to perhaps find a buyer as well.
Otherwise, I suppose the alternatives might be housing association or counsel accommodation
or otherwise, just becoming a long term rent situation. But, obviously park home does give
you own home. So, I can understand why you would be looking to do that.
So, good luck. Any other queries just give us some call through.
Okay, here is the third question, far away. George?
Yup, 3rd question is from Russ2209 from Zoopla
Hello, Russ.
Can we go out of contract for a new home that we just bought? We have concluded that missives
on the new build home, however, having no success selling with current house exceeds
the funds needed towards the deposit. Can we go out of contract for new home, and if
so, what is involved? Thanks.
Okay, yeah well, yes you can but perhaps with a penalty. So, normally if you have agreed
to buy a new home, you would put down some sort of holding deposit, I'm guessing maybe
£500 at a certain percentage. You do stand to lose that.
Not exactly sure what you are buying or where, but sounds like you might be buying in Scotland.
So, check the rules up there if you are. If you got any specific queries, get us another
call through or another email through. We will try and answer these for you.
But, yeah, I think just read the small prints, speak to your solicitor, find out what you
signed, what money you have sent across, and chances are, you could probably going to lose
any money you have given because that is what it is there for, is to hold you into buying
the property. But, I would say definitely you would want to take legal advice on.
That's it for the day. Any other queries, do let us know. Thank you.