How to be taken seriously as a First Time Buyer

First time buyers are always in competition with other buyers, including Buy To Let Landlords. What can you do to improve your chances of being taken seriously and being shown the homes you want to buy?
In this video you'll hear advice you won't get anywhere else, from Charlie Lamdin, a supplier of tech to estate agents for 20+ years.
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[@MovingHomewithCharlie]

Guys, I'm not calling any of you "f ing timewasting bar stewards"! I'm trying to communicate how SOME FTB's come across to many estate agents, compared to second home buyers, cash buyers or investors. So many FTBs have unrealistic expectations (as they have no experience) which is why they are often ignored. I'm here to help FTBs who want to be taken more seriously than average FTBs. I hope it helps! And obviously, this is just for fun and for effect. Watch all the way through, it's gold dust for uninitiated ftbs.

[@rstrawbury9087]

Great advice Charlie thou serious, your humour did amuse me. Thanks Charlie.

[@jojofruits1]

I will admit that I would have inadvertently been a total fucking time wasting bastard without your advice! .. currently about to start organising mortgage in principle!

[@SycAamore]

Don't buy now, if you're an FTB, a cash buyer (like me), or anything else in between. Prices will correct by at least 20%... That's all I have to say to anybody at any social level...

[@Billy-ym1uv]

I'm a serious buyer but the prices sellers are asking are not. Example: property I liked had an asking price of 500k which I guaged to be peak price + c 20%. Seller had bought a year ago for £415k. I would be willing to make an offer equal to peak price minus 20% (maybe about 320k). Price positions are so far apart, no choice but to wait for realism. Frustrating as rental situation far from ideal.

[@MovingHomewithCharlie]

This is happening a lot at the moment. The Mexican Standoff. Patience required.

[@KingShaf7]

Having dealt with many estate agents in derby, I can definitely say most are time wasting bs! Just yesterday I sent an email to one asking how much their fees were for an online auction and who was it listed with……I couldn’t phone as I am out of the country. Can you guess the answer?….. …… Thank you for your enquiry on the above property, in regard to our auction fees, It would be best for you to talk with our auction specialist would you be happy for them to contract you? Is it really that difficult to answer 2 questions for fs sake! This is the kind of bs we have to deal with, they just can’t give a straight answer as it would kill them!

[@peacetoall5992]

@@bobjames6622 What is POA abbreviation ?

[@jonsnow6741]

I have found some younger sales persons have had it so easy over the past few years they are delusional. They have no idea what HAS happened and the direction we are moving in . Tomorrow moring I have to have a convo with a company director about said attitude of such people and the realities of where we are at . I think it will be bye bye to myk cash buyer unless attitudes change.

[@Natta44]

I was contacted after a seller's previous buyer (who's high offer was accepted over mine) went radio silent for 2 weeks i.e wasting their time. So the agent contacted me again to see if i was still interested, as they knew I was a local buyer, had my deposit and solicitors etc lined up and knew I'd be ready to progress. Only thing was, I decreased my offer down as I followed your advice of don't overpay. Didn't think they would say yes and they did! I decreased it again after my survey, I knew it was risky but I now feel so much more comfortable paying £5.5k less. As the area I'm buying isn't very price risey as others. So played it safe. After 2 years of navigating all of this, I now know the agents game and I've learnt some life lessons along the way!

[@MovingHomewithCharlie]

Well done. Everyone wins! You, the seller and the agent. It’s a great example of what I talk about in the video, where some buyers make an offer, have it accepted, then realise they don’t actually want it! Hence time wasters. It can happen for innocent reasons, but is always frustrating for all concerned. Congratulations on holding your ground and not overpaying!

[@stephengreen2626]

You may be FTWBs but four months on the agents should have a bit more time and patience in 2023. Your best wise heads are people who have recently bought. A parent or relative who bought 25 years ago have other wisdom but however willing can’t see things through your eyes. Charlie’s advice though is timeless.

[@rayzor_9988]

The problem with giving estate agents a screen shot of my bank balance is that they will see I have miles more cash than what I’m offering. It’s asking to be robbed because EAs don’t work for buyers. Better to let my conveyancing solicitor confirm they have done their AML on me for source of funds and authorise them to confirm I have the funds.

[@MovingHomewithCharlie]

No I don’t think that would happen. They wouldn’t automatically assume that the entire balance is what you’re budgeting for a purchase. And even if they do see it, it doesn’t change what you choose to view or what you choose to offer. I think the pros of showing them (ie they know you really can proceed immediately) will outweigh the cons you describe.

[@rayzor_9988]

@@MovingHomewithCharlie I disagree. From watching your channel, the one thing I have learned is that EAs are predators looking to feed their rep of being able to get top dollar for sellers. My guess is if they see a flushed cash buyer, their predatory instincts kick in and they will try to bleed the buyer for as much as they can. I don’t judge them negatively for that, it’s just what they are.

[@foofda4860]

Looking forward to your next video Charlie on the long list of how TWB-EA’s knowingly waste people’s time and money, pot calling kettle. Don’t be that shady agent that mucks buyers around with a ‘character property’ that’s more like a toilet! Lol

[@raymondhull3838]

wheh buying or selling , make up your mind on offer or acceptnce and ha e nerves of steel

[@andrewtaylor6737]

Sound a bit annoyed there, Charlie. First time buyers, don't bother and get a van or motorhome !

[@MovingHomewithCharlie]

Not at all! I'm trying to communicate the most important point for FTBs who want to be taken more seriously than others. Most FTBs are unaware of how they are perceived by estate agents. Sorry if it's a bit blunt!

[@fiammag84]

This is really helpful. It's a good idea to put yourselves into someone else's shoes to have a successful negotiation. Can I also suggest a video on how to work out what we can afford? From personal experience I thought I had it figured out after getting my mortgage in principle but truth is it needs serious budgeting! It sounds naive but hope can play tricks 😅

[@MovingHomewithCharlie]

That’s a hard video to do as it will be different for everyone. But I think a really good mortgage broker would help with that.

[@dumpsterplayer2700]

i bought a house a year ago and had no idea the amount of paperwork and stuff i'd need to provide. My conveyancer was really unresponsive and didn't ask for those docs in advance. You'd think they'd be doing these every day so they'd have a ready pack. I also didn't ask enough questions. I did however get 15k off the asking price, which probably made it around normal value, but i could have done much better. I didn't know that the estate agents boss actually owned the house, was desperate to sell as house prices were on the way down (I knew this, but mortgage rates were also going up)

[@roystonvehicles9129]

Like your style, open fire, Thomas crown and thunderball pics, not forgetting the Guinness.

[@stephfoxwell4620]

Two base rate rises. From 2.25% to 3.5% but mortgage rates in the same period are down from 6.4% to 5.7%. Go figure.

[@aliaksandrasaywell3826]

How can a first-time buyer do their research, please? How do I learn about end-to-end process, stakeholders, and the market all at the same time? I do not even know where to start.

[@heatherkim6533]

I wasn't able to attend a second viewing this weekend because there was no where to park and the gate to drive on the property was closed. Personally I think this is lazy and incredibly unhelpful. I rang the agents to tell them what was happening but had to leave my message with an admin person. The estate agents need to make the effort too.

[@malcolmhutchison]

Previously you've said we should be out viewing properties. even those that are currently outside our affordabie range. Should ensure the agent doesn't know find out we can't afford that one?

[@MovingHomewithCharlie]

This is a good question. You should be out viewing. If you request a viewing of a specific property, some agents won’t ask you to explicitly state your budget, some will. It’s worth stating your max budget. Some agents will then say no you can’t view. At that point you should say, is it not worth viewing to see if a negotiation can be opened with the seller? If there’s no other interest in the property, the agent will want to show you the property if they think there’s a chance of a sale.

[@frustratedhomebuyer]

I've stopped telling agents my budget (£320K), I now simply tell them I'm considering properties with asking prices up to £400K. No point in showing your cards until you actually find somewhere you love enough to make an offer. The last agent I chatted with said 'they were far too busy to be contacting people so keep looking at Rightmove' and that they 'hadn't really noticed any price reductions'. 🤔

[@ChubbyChecker182]

Nice intro 😳😁 Really good advice though 👍

[@MovingHomewithCharlie]

Well I gave it a lot of thought, I wanted to get it just right, you know? ;-)

[@ChubbyChecker182]

@@MovingHomewithCharlie 😊👍

[@tl1850]

I have lost out on a few houses that I liked through not bidding enough while having enough to buy at the offer price. I don't think FTB realise just how much work and money it costs to keep a house going. There's always something that needs doing. It's a life of having no money when you first buy. I offer what I think it's worth minus all the work that needs doing. FTB just want the house and will pay anything to get it.

[@lornamluna]

This is a very informative channel and I always get notified every time Charlie will upload a video. I am a FTB and I can relate to what Charlie is saying. Charlie is trying to help all movers like you and me watching this video. Keep up the good work Charlie. Have a wonderful Christmas to you and your family.

[@kwilson5832]

I am a semi-professional musician and I lived with my parents, then just my mother when my dad passed away for years, while I saved up for my first home. I knew I was going to be noisy and didn't want to upset the neighbours, so wanted my first home to be detached. I viewed a home that I could easily afford and made an offer, which was turned down. I increased my offer by £4k, at which point the agent told me to stop wasting their time. He reminded me that I was living with my mother and that this was a 3-bed detached house that I was viewing. I told him I could afford it, but he told me to set my aspirations a bit more realistically. The house was sold to someone else for the same price as I offered, and the agent refused to let me view any houses after that.

[@MovingHomewithCharlie]

That's shocking conduct of the agent. One of the problems as a buyer is you have no control over the calibre of agents you have to deal with.

[@jojofruits1]

That's shocking!!! I've had similar recently and decided I didn't want that agent to earn commission from me!

[@Natta44]

Are you a solo buyer? I've had a similar experience, unfortunately solo buyers have it very hard. As they assume we can't afford the nicer houses even if we show proof of deposit and DIP. I had an agent say to my face at a viewing, try 2 postcodes that way, the houses are 40k less (less desirable area). It really insulted me and I've never forgotten it! Very rude.

[@Michelle-72]

That's appalling. I'm so sorry this happened to you. Did you show him proof of funds? As a buyer, I've had estate agents speak to me rudely, huffing and puffing down the phone, telling me I view a lot of properties. But, when I'm a seller, they're as nice as pie!

[@montydee5914]

Back in the 1990s I asked to view a house, and the female agent wanted me to get a female friend to accompany us to the house for viewing. I felt quite offended. As far as I know, I don’t think I look particularly sinister or devious any more than the next man. Was or is that normal practice for estate agents?

[@MovingHomewithCharlie]

I think it was and is normal practice for any woman to take the precaution of not being alone with a stranger. I doubt it was personal, so no offence needed. Sadly, women are statistically at much higher risk of being attacked or assaulted in a scenario like that than men, so many prudent employers will have a policy of not allowing female employees to be alone outside the office without a trusted 3rd party present (eg another woman). You may remember the case of Suzy Lamplugh, the female agent who was murdered on a property viewing in the 80s. It was headline news at the time and most estate agents adopted this policy for their female staff as a result.

[@picturetony9567]

Hi Charlie I viewed a property about a month ago and in between that time the property has been removed from 'rightmove' and also the agents site, after watching this video I touched based with agent to let them know I was looking etc etc I then asked about this property I'd viewed and was told they'd found a buyer and so it's been taken down from 'rightmove' etc. My question is can still I make an offer on this property?

[@MovingHomewithCharlie]

You’d have to ask the agent. You can make one. Whether or not it is considered I can’t say.

[@GregRobsonUK]

This is one of the best channels I have ever subscribed to, videos like this are *pure gold* for people like me who are looking at buying in 2023. As unregulated industry that appears to need some kind of "wizard" to guide you through the process this cuts through all the nonsense. Do you have any advice for single people buying - does that have any effect on how offers are viewed?

[@MovingHomewithCharlie]

Thanks for the feedback Greg, and I'm delighted to hear that it's helpful. That's exactly my aim: provide insight you won't get anywhere else. No I don't think your marital status will affect how your offers are viewed, only your mortgage application I think.

[@thathurt]

Just found your channel via Twitter. Useful advice. 👍

[@MovingHomewithCharlie]

Welcome aboard!

[@bennybenoit754]

Charlie, thanks for the advice. I will be using every word in my plan to buy in the next 12 months.

[@MovingHomewithCharlie]

Best of luck!

[@AmiranBokhua]

I am one of those Charlie and I am not afraid of the title FT-FTB

[@peacetoall5992]

Love your shows Charlie - not happy about the 'language' !!

[@MovingHomewithCharlie]

Don’t worry, it won’t be a regular thing! It wasn’t directed at anyone so I hope no one is upset by it.

[@bigmacntings7451]

Charlie,what do you think of putting in a proper low ball offer if,as you described,you really DO have your ducks in a row? can you gauge,by what an estate agent says,even if their are multiple suitors for a property,that you would be accepted on a full and final offer(subject to survey) with complete cash purchase,ahead of someone who needs to get mortgage approval,even if they offer 10-15% more. If you can give proof that you have funds,have legal assistance and conveyancing,and no backward chain,and can be done in 6 weeks? would a vendor accept that level of discount for the convenience of a solid,guaranteed transaction?

[@bigmacntings7451]

I sould also ask, would they still accept the lowball offer,if the prospective buyer advises that yes they can get mortgage approval,but is reluctant to upon the grounds of additional costs and speed of transaction? your penny's worth greatly appreciated.

[@MovingHomewithCharlie]

If there are other buyers, proper low ball offers won’t usually succeed. But if you’re the only one, and you have all your ducks in a row, they can and do, but only if the seller’s situation suits. If there are other buyers but you can move more quickly, the agent may well recommend your offer if they believe you are serious and will complete quickly. But speed of transaction is worth different amounts to different sellers, there’s no formula for this to succeed. You have to ask yourself the question: would you entertain your own offer if you were the seller? The answer may be initially no, then yes!

[@TheSpanishGuitarHub]

First time in a position to buy, but it is so scary specially if the house prices will tank like you said. In my area nothing has changed yet with the asking prices, just much more listings. My landlord requested a valuation officer to come around next week, but does not communicate it to us why he did that. I think because he wants to sell the flat, is that right? Probably it is a sign for us to start the house buying process. I really fed up with moving, this will be the 20th time since I am in London (most of them out of my fault).

[@MovingHomewithCharlie]

It's possible the landlord is having to remortgage (not sell), which might require a registered valuer to attend. If you're considering moving, it's always good to get the process started early and give yourself plenty of time.

[@jojofruits1]

Don't panic might just be for a remortgage

[@TheSpanishGuitarHub]

@@MovingHomewithCharlie Thanks for the answer

[@bigmacntings7451]

well look on the bright side, if he's got valuers round,he is either in financial distress or looking to sell. You'll find out soon enough when the rental contract is due to expire, If he's looking to sell,then at least you know you have time to find alternative accomodation, if he's not then you can go hardball on the rent provided you can prove you intend to stay. Lots of excuses ie energy+food increases,below average payrise etc etc, offer something that shows you understand but can't match inflation,for the security(on his side) of having a decent tenant with no voids. Lots of landlords trying to keep pace with inflation at the moment but crunch point is already here with low pay rises, there may be hours reductions and redundancies to follow, which a landlord will just be happy with a secure income if you can provide one.

[@TheSpanishGuitarHub]

@@bigmacntings7451 Well to be honest thats how it started for us. The agent told us he is happy for us to stay and he can prepare the contract in advance (we are due to renew in April), but he is raising our rent. We only moved in two years ago he raised it already when he had a chance. So I tried to negotiate down the raise. He did not get back to us for over 2-3 weeks and now he sends a valuation officer. I just need to de-attach myself from this flat, as it is not safe, and I do not want to stay in a place where the rent is raised every year. I can now find a cheaper place to live. Or just buy. Either way, I think it is very unprofessional not to get back to me.

[@professionalgambler74]

Surely now that a lot of houses aren't selling, the agents have much more time to spend with the first time buyers?

[@MovingHomewithCharlie]

That’s true, and serious buyers should still get out, meet agents and view properties. But it doesn’t alter the fact that a lot of first time buyers arrive underprepared and represent a lot more work for an agent than other buyers. This video is designed to help FTBs who want to be taken more seriously than others, and therefore have a better chance of viewing those rare bargain properties as they come along. 😎

[@professionalgambler74]

@@MovingHomewithCharlie we haven't started looking yet but I thought we would be given red carpet treatment given the current market conditions. Thanks for the video.

[@marcorenato1814]

Future FTB here, and while this was massively helpful, I'm now confused about what consitutes the necessary 'good research' that you allued to. If I asked my local estate agents for viewings and asked questions about the market, in order to understand the current values and my max budget, wouldn't that get me classified a time waster? Or have I missed something?

[@MovingHomewithCharlie]

Good question. Suggestions; 1. Get as familiar as you can with all the specific properties that are in or near your requirements. There often aren’t that many, so it’s easier than it sounds. If you can talk about other properties that you’ve seen hanging around in the market for a long time when you’re viewing with an agent, they’ll know you’re doing your homework which is a good sign. 2. Especially look out for properties that have changed agent. It doesn’t necessarily mean there’s anything wrong with them (although it can be the case). More often it’s just a case of the first agent overvaluing. Sellers are often more motivated to sell with the 2nd agent. 3. Show that you’ve done your research on what’s expected of you when it comes to offer time. Eg proof of ID and funds. 4. Lastly, anything you can do to show that your expectations are more realistic than the typically unrealistic expectations of a lot of FTBs will also help. That’s not to say you shouldn’t look for bargains, but being a bargain Hunter is one thing, being an unrealistic dreamer is another. Hope that helps!

[@marcorenato1814]

@@MovingHomewithCharlie thank you for your considered and comprehensive reply!

[@MrBeats44]

GREAT INTRO 😂

[@Tina_Fay]

Any thoughts on the government’s “First Home Scheme”? It has similar policies to shared ownership e.g can only sell to someone who bought the house on the scheme, mostly new builds- this makes me think it’s to benefit the developers 🤔

[@MovingHomewithCharlie]

It will help developers sell more, but it certainly makes those homes affordable to people who otherwise couldn’t afford them, so they benefit too, without being able to profit from the discount.

[@Tina_Fay]

@@MovingHomewithCharlie Thanks for your reply 👍🏼 there’s a lot of negativity around Shared Ownership scheme so just curious, Merry Christmas!

[@slashingbison2503]

hahaha best intro ever.

[@Billy-ym1uv]

Charlie, I see that your comment to an an article on Property Industry Eye was removed. What did you say?

[@MovingHomewithCharlie]

That happens a lot! Can't remember which one it was. What was the story?

[@Billy-ym1uv]

Sorry, I can't recall. Didn't consider that it happens a lot.

[@MovingHomewithCharlie]

@@Billy-ym1uv they're hypersensitive to being sued by anyone, so they regularly delete comments that are critical of any of their advertisers etc

[@shanazshadi3985]

💙💙💙

[@connormcleod9595]

My very own santa

[@MovingHomewithCharlie]

Ho ho ho 🎅🏼

[@richardkilley6838]

Language please Charles! Lol

[@MovingHomewithCharlie]

Got to make sure the message gets across! ;-)

[@richardkilley6838]

@@MovingHomewithCharlie Misson accomplished I'd say.

[@MovingHomewithCharlie]

@@richardkilley6838 that's the objective!

[@google-ads-for-estate-agents]

Great content every buyer needs to watch this video.

[@Deanthomson88]

I've just had my natwest mortgage refused. I already had a mortgage offer. Found another house below the 150k I was told I could get and they just contacted me yesterday saying my credit score has gone down ( because of searches for a mortgage 4 months ago) but I needed searched again by the same company and they said no. My mortgage advisor has even said none of the agents at her office has ever seen an offer on a property rejected after I've had a mortgage in place

[@MovingHomewithCharlie]

That sounds incredibly disappointing. Can they fix it for you?

[@Deanthomson88]

@Moving Home with Charlie I just found out last night so waiting for the advisor to get in touch today, it's heartbreaking mate. Because I'm financially in an amazing place and never needed massive credit it goes against me. I've worked hard for 3 years to get my score up and was good until the searches, now its fair. And they say no. So my rate of 4.19% will be gone. Unless I can secure it with them. Its my dream house aswel. If this doesn't work, I'm giving up on.the idea

[@KingShaf7]

NatWest are very bad at pulling offers or doing other shady things. I have had a mortgage refused on a buy to let property as they didn’t know the value of a property as there were not enough rental properties on that road…. Wtf! They have often given mortgages and valued properties at 10 % below market value, leaving me to fork out the difference in cash! They refused one of the buyers of my properties a mortgage saying the house was made from single skin construction yet had given me a mortgage on the same property less than 5 years prior and were still mortgaging it! I have a feeling they have changed their minds on lending you the money and are now looking for any way out of their offer!

[@Deanthomson88]

Is there any legal standing I have here? Surely they can't get away with this? I've paid for checkmyfile and equifax credit reports. No change to report apart from there hard searches conducted in September. They gave me the green light and now they are saying no.

[@MovingHomewithCharlie]

@@Deanthomson88 are you dealing with them directly or through a broker?