We did send this with their solicitors further enquiries...
Estate agent working hard on the case now....
We're getting an extra 8K added to the mortgage and hope for a quick exchange...lets see...
I'll keep you posted... cgxx
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Originally posted by MELBOY:
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Originally posted by CanuckGirl: our brand bew baby combi boiler is under guarantee. We have the Corgi Certificate and it's not even due for it's next maintenance yet ! (Sept 2008)
Your purchaser's Solicitor should be asking for this document on behalf of his client. Mel.
WRT to the survey, I presume you guys know that these are nothing more than a 15 minute walk through the house, noting down ANYTHING that may be suspect and making notes to the effect that it should be inspected by a professional from that field? I worked for several months for one of the big lenders, i was in the mortgage valuation admin centre, and all that ever gets recorded are stock-paragraphs to the effect of what may be considered work that needs to be done. All they ever go to the property for is to make sure it is mortage-worthy, that it has not been over-priced, and to make sure they dont commit themseleves to something that may later prove to be wrong, i.e. unless an up-to-date wiring certificate is forthcoming you'll more or less be told that you need to instruct a survey on the electrics as the mortgage survey was unable to commit his/herself, and so on.
The fact that they have highlitghted 'issues' on your house is far from surprising given that it's what they do, however, the fact that the mortgage company is willing to lend on it says it all really. The £8K lower-valuation that it has been given will almost certainly be to do with the drop in house prices and nothing to do with what has been flagged up on the survey. You have to ask yourself if -in the current climate- all the work on the survey is attended to, would they they say its worth £8K more? I doubt it.
My view is they take every point in the survey a bit too seriously. I've read it myself and as I said it has good points and alao flaws but you have to be honest and if you want the house, then you want it.
They are a young couple cramped in a 1 Bed/ 1 reception flat(in a much rougher part of North London) with a toddler...they are desperate for more space and they said (after 5 viewings within 2 months of looking around) our flat is just what they want: 2 beds. scope for loft-dormer conversion , decent garden and huge cellar for storage in a very sought after North London postcode.
I'm a bit peeved because we've been honest and open all along and I feel they are now taking advantage of the situation.
I'm ready to give them the 8K reduction and exchange as I am ready to exchange on my purchase and from what my agent says...their FTB is nearly ready too.
We all have to wait now as they want quotes from a builder, who's coming Tuesday, for works they would like to carry in their first year here.
All I have to do now is try to keep calm, carry on and hope for the best!
Good news is my girls have now places in the schools I desperately wanted in Berkshire...hurrah!
I suppose it is easy for people (like us) who are not involved to lose sight of the huge step buying a house is, at least we may lose sight at a time when we are not buying/selling ourselves. We sold our flat in 2001 to a fantastic lady who was a FTB. There were areas of concern for her (nothing major, such as the possibility of needing to extend the lease in time) but it didnt put her off. When we sold our next house (again to a FTB) she was so cautious it was a bit wearing. Mind you, her solictor didnt help matters one iota. I guess it all depends on how 'comfortable' your buyer is with the whole concept of house buying. I hope it goes alright for you.
After our meeting. There is 3 people to come this week for quotes. One tonight for Building stuff and 2 Thursday for Electric Rewiring (ours is from the 80's from works fine) & a 3rd Timber & Damp survey/quote. Are they pushing it or is it me getting fed up ? I don't know anymore!
We've instructed our agent to tell them we are happy to meet the £302K valuation from their homebuyers report.
Most people and friend tell me it's unlikely they'll pull out as they wouldn't bother doing all these quotes etc etc .
Oh and my agent gave them only this week to do this as he wants to get a resolution early next week to agree on the price and exchange date.
I'm probably a worrier and also letting this all thing get to me (10 visits/meeting , all at family dinner/bath time , with my 2 girls around who are getting quite stressed out having strangers walking around the house, my 8 years old keeps asking if they really want the house and why this is not going ahead, How do you explain that!!)
I just want to get your opinion. Should we get ready to live with the idea that they'll pull out after all of this....and should we approach the other interested party?
If the electrics are from the '80s then they should be of very good order - only the style of fusebox would be questionable by todays standards HOWEVER it is the 'additions' to the wiring over the years which will be the 'worry', if you can call it that. There may well be no worry at all, my guess is that the buyers are taking the valuation too literally and are instructing independant advice because of it.
As i said, the mortgage company wouldnt lend on it if it was that bad. Good luck.
Originally posted by bertie_boo: WRT to the survey... All they ever go to the property for is to make sure it is mortage-worthy, that it has not been over-priced, and to make sure they dont commit themseleves to something...
Another reason the surveyors go is to find out if the property actually EXISTS. A mortgage broker I know told me that there have been fraudulent mortgage applications for non-existent properties. The addresses are called something like "36b Smith Street, Anytown". Of course only number 36 exists. There is no 36b at all!
Another reason the surveyors go is to find out if the property actually EXISTS.
LOL that is soooooooooooooo true when i worked for the building soc. one of the surveyors refused to get out the car in one area as the houses either side were burnt out. You can guess what the area was like lol.
Another reason the surveyors go is to find out if the property actually EXISTS.
LOL that is soooooooooooooo true when i worked for the building soc. one of the surveyors refused to get out the car in one area as the houses either side were burnt out. You can guess what the area was like lol.
And thanks for letting us know!
when i worked for the building soc. one of the surveyors refused to get out the car in one area as the houses either side were burnt out. You can guess what the area was like lol.
