Making an offer

[~Hestia~]

At the risk of sounding a bit silly...

When you are interested in a house, and you want to make an offer, can you just give the figure you want and make it subject to finance. Then go see the bank.

Or do you need to find out how much you can borrow before you make an official offer?

Have no idea. Clearly!

[chody47]

You can make an offer and make it subject to finance. However, just be aware that if someone was to make a similar offer that wasn't subject to finance then its likely theirs will be accepted. If you can have finance sorted first it can make thing a little easier.

[Phteven]

You can make it subject to finance because finance is subject to the house.
It's good to talk things through and crunch some numbers with your lender before you make any offers so you have a ball park figure and provisional approval but before they finalise things lenders like to send through valuers and so on.

You make an offer subject to anything you like - even the vendor including a photo of their dog in a frilly tutu but the vendor has just as much right to say no

[Astrid]

With our bank we had pre approval, but even with that they wanted all offers we made to be subject to finance. The bank wants to know that you are not offering too much for the house

[~Hestia~]

Thanks girls! We haven't had a chance to go to the bank and I wasn't sure what you're 'supposed' to do. DH bought our house in the mid 90's and can't remember what he did! Anyway, having a second viewing of a house tomorrow morning so we'll see what happens

Meant to add - I think I'd feel better having spoken to the bank so guess we'll find time for that tomorrow too, exciting!

[Liviam]

Always have your offer subject to finance or otherwise you wont have an out if something happens and your finance falls through.

Doing this saved us from making a HUGE mistake.

[Cassius2]

i'd be getting some preapproval under your belt. it can take time and it makes any offers you do make that bit more enticing for the vendor.