FTB and put an offer on a house with some serious issues... Am I mad?
- Thread starter RoboCod
- Start date
Personally, out of courtesy you should tell the agent exactly why you are pulling out. It will allow the agent to tell the owner and may well result in the owners getting issues fixed.
Don't take for granted that they actually know. It's the decent thing to at least make them aware.
Don't take for granted that they actually know. It's the decent thing to at least make them aware.
Sorry. Just read rest of thread and this post is a little late to the party.
There are probably a few people that have said this already (I haven't read the entire thread), but I'd like to add my name to the list of those recommending you get a proper damp survey by an independent timber & damp specialist.
Look for a company that does not do any actual work, but just surveys. This will cost you a couple of hundred quid, but you will get the TRUTH.
If you use a damp contractor, a company that provides free estimates for example, you will NOT be getting an unbiased opinion. You will be getting a quote from someone trying to part you from your hard earned cash and might even be suggesting you do work that not only isn't needed, but could cause further damage.
When I sold my house ealrier this year our buyers' mortgage surveyor used a poxy electrical meter (ignorantly called a damp meter) to test for and find damp. It freaked her, the buyer, out. We paid nearly £300 iirc to get a proper survey done and guess what? No damp!
There are probably a few people that have said this already (I haven't read the entire thread), but I'd like to add my name to the list of those recommending you get a proper damp survey by an independent timber & damp specialist.
Look for a company that does not do any actual work, but just surveys. This will cost you a couple of hundred quid, but you will get the TRUTH.
If you use a damp contractor, a company that provides free estimates for example, you will NOT be getting an unbiased opinion. You will be getting a quote from someone trying to part you from your hard earned cash and might even be suggesting you do work that not only isn't needed, but could cause further damage.
When I sold my house ealrier this year our buyers' mortgage surveyor used a poxy electrical meter (ignorantly called a damp meter) to test for and find damp. It freaked her, the buyer, out. We paid nearly £300 iirc to get a proper survey done and guess what? No damp!
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Thanks for all the info and advice. The offer for the new house has gone forward, accepted and I have instructed my mortgage advisor to deal with the new EA and get all that underway. Contacted the old EA and told them to withdraw our offer on the other house. They didn't even ask for a reason?
I will no doubt update with the outcome of all this very soon
I will no doubt update with the outcome of all this very soon
I have a Question I'm not sure to the answer.
The survey we had done on the flat roof house. Could we sell it on to someone? The property is back up as SOLD STC. Wouldn't be bad making back some of that money we spent
The survey we had done on the flat roof house. Could we sell it on to someone? The property is back up as SOLD STC. Wouldn't be bad making back some of that money we spent
I'm sure there is nothing stopping you apart from locating the new buyers. It's not like the estate agent is going to help you wreck their sale! You would need to check with the engineer whether his indemnity is transferable should he have made a mistake.I have a Question I'm not sure to the answer.
The survey we had done on the flat roof house. Could we sell it on to someone? The property is back up as SOLD STC. Wouldn't be bad making back some of that money we spent
It has always struck me as odd that every potential buyer has to shell out significant amounts of money to commission the same surveys (should they want one) rather than the first survey be attached to the house documentation in a legal sense.
It would also mean that if a seller knows there is a significant problem they'll pull out of the sale before you can get a survey saving you money and time.
THOUGHT I WOULD UPDATE HERE:
So we are almost at the exchange of contracts for the other house we went for instead of the flat roof. We have a proposed date of 29th Jan, all other tasks done and it sits with the solicitors to complete.
3 Bedroom detached with garage. Happy with the house being a FTB and much happier having a newer house that should have fewer problems
It needs dragging back to the modern era. The current residents have lived there for 20+ years and have some "traditional" preferences in style
but overall much of the work is cosmetic. It is all inhabitable though and we can live with the current decor, even the kitchen could just have new doors and be done with for the time being (although a new kitchen is the aim at some point). The rear is backed by a field/small park that will never be built on.
More pics:
Hope I've not just jinxed the whole deal now and it falls through
So we are almost at the exchange of contracts for the other house we went for instead of the flat roof. We have a proposed date of 29th Jan, all other tasks done and it sits with the solicitors to complete.
3 Bedroom detached with garage. Happy with the house being a FTB and much happier having a newer house that should have fewer problems
It needs dragging back to the modern era. The current residents have lived there for 20+ years and have some "traditional" preferences in style
but overall much of the work is cosmetic. It is all inhabitable though and we can live with the current decor, even the kitchen could just have new doors and be done with for the time being (although a new kitchen is the aim at some point). The rear is backed by a field/small park that will never be built on.
More pics:
Hope I've not just jinxed the whole deal now and it falls through
They accepted a lot lower
Under stamp duty?
I need to move to cheap part of the country and buy a house on multiple credit cards.
Have other people on the street converted the garage?
Yep under stamp. A couple of other houses have done just that with a large open kitchen diner. One has had a huge extension on the back with double height family room too. That sold for considerably more. These are things we probably won't end up doing though.
Where do you live? It's very cheap around here, and very commutable to many places. We really like the town and it isn't far from family.
Where do you live now?
Near Exeter.
£90,000 gets me this wonder: http://www.rightmove.co.uk/property-for-sale/property-44278469.html
Or a 3 bed detached caravan £167,500:
http://www.rightmove.co.uk/property-for-sale/property-41520109.html
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Now your being sensible, that place is much better,than the first place you showed us.
Overall it looks very good, kitchen a bit dated, but usable, gas boiler I would move to the garage if possible.
Could always build over the garage, so the 3rd bedroom becomes larger.
Overall it looks very good, kitchen a bit dated, but usable, gas boiler I would move to the garage if possible.
Could always build over the garage, so the 3rd bedroom becomes larger.
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Just curious for all first time buyers, how many years are you putting your mortgage over? I was under the impression that 25-30 years was the standard that people go for but do some people go for 35 years or I am grossly misinformed and its literally whatever you can comfortably afford?
The current house price increases are making people go for 30+ years which is just madness. Stick to 25 years and the monthly payments at this term are your budget.
Do the total repayment calculations of 25 vs 35 years, its scary.
Get a 25 year mortgage and pay it off in 15.
Do the total repayment calculations of 25 vs 35 years, its scary.
Get a 25 year mortgage and pay it off in 15.
Soldato
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- 5 Aug 2006
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- 11,433
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OP: Congrats on your offer acceptance I wish everything goes well for you.
I bought a 3 bed detached house north of Longton in May 2013 for £112,000 all done up. The previous owner did the work whilst living there yet he paid £116,000 for it!
Can't really compare houses as others have said prices vary wildly even within a few miles.
Hanley, Stoke on Trent:
http://www.rightmove.co.uk/property-for-sale/property-42086593.html
I bought a 3 bed detached house north of Longton in May 2013 for £112,000 all done up. The previous owner did the work whilst living there yet he paid £116,000 for it!
Can't really compare houses as others have said prices vary wildly even within a few miles.
Hanley, Stoke on Trent:
http://www.rightmove.co.uk/property-for-sale/property-42086593.html
I guess that is the compromise. Standard of living may differ and of course you should expect a much higher income. However, being forces means my income remains the same wherever in the UK with the exception of inner London which offers a slightly elevated pay.
It is obvious that it depends on what you are looking for in a purchase. Some people live nearer the Midlands and commute to the city as the rail links are good. Given an option on location I think I would only consider the southeast for a short term posting (2-3 years) just for the experience. I'm born and bred a country bumpkin so even living in suburbia is a bit urrrban for me
I'm going to appreciate the amenities and restaurants no doubt though. The GF family live in Essex and they are now even playing with the idea of selling up and moving this way. They could be mortgage free with money to burn if they did, and live in a similar 4 bed house but with Land for the horses they currently stable down the road. Their only reason for staying is her dad's job in Dagenham but he is considering the drop in income to move.
Well contrary to some people's views I took a 30yr fixed for 7yr. This was on the advice that rates are expected to go up soon, so lock in to a good rate now. We will over pay that rate to the maximum allowed then when it comes to remortgage, we will look at our options to reduce that time. (Deployments abroad make for nice little lump sums to throw at it for us). Needless to say, seek independent advice from more than one qualified person to find your best options.
Thank you.
Wow sounds like you got a bargain! More centrally located in the country than us too. And that 25k house, is this 1991?
