Anyone else having a nightmare trying to find a home?
Discussion
Just been to do a second check of the property, one obvious potential problem is electrics. It has an old fuse box. What steps should i take with this? Should i get an electrician to check it? (or someone else?), and will this cost? and when do i do it? It will no doubt be raised in the survey as 'electrics need checking'.
Get a spark in, if the Kicthen was done four years ago and electrics moved an RCD should have been installed to protect socket outlets and buried cables, which I can't see, ask a spark to do an electrical condition inspection and report. You may be able to get a bit off the asking price, but it's not worth loosing the deal over, all houses old or brand new drain your money and as this tread proves are hard to find
I see there are rumours of stamp duty reform in the budget... Would be nice if that happend! Don't think ill bank on it though!
What should I be doing now I've been accepted? My solicitor is ready, but it's in a chain. Should I just get the solicitor doing searches, and wait for mortgage application/survey until the sellers find somewhere and are accepted? I will obviously speak to my solicitor in the morning to get his thoughts.
What should I be doing now I've been accepted? My solicitor is ready, but it's in a chain. Should I just get the solicitor doing searches, and wait for mortgage application/survey until the sellers find somewhere and are accepted? I will obviously speak to my solicitor in the morning to get his thoughts.
505diff said:
Get a spark in, if the Kicthen was done four years ago and electrics moved an RCD should have been installed to protect socket outlets and buried cables, which I can't see, ask a spark to do an electrical condition inspection and report. You may be able to get a bit off the asking price, but it's not worth loosing the deal over, all houses old or brand new drain your money and as this tread proves are hard to find
I'd agree with that 110%....you have to accept there will be things wrong even if you can't see them. The place we are in now was built around 1900....sailed through the survey etc Four years later we had a major back to brick refurb done.....we found dry rot, rotten floor joists and asbestos....the win treble! All were there when we bought and no survey would ever have picked them up.Finding the place has been VERY hard, so i won't let it go over this.
Chain is now complete, so i'm applying for the mortgage later today.
Not sure what to do with electrics as i know it's an issue, but i also don't want to scare the sellers... it's a tricky one.
As a random point, i was checking rental prices the other day, and flats in my current building go for £200+ a month more than what i pay. I haven't had an increase in rent in 6yrs(!). My mortgage is going to be approx what my current rent is, so it makes is slightly easier to accept!
Chain is now complete, so i'm applying for the mortgage later today.
Not sure what to do with electrics as i know it's an issue, but i also don't want to scare the sellers... it's a tricky one.
As a random point, i was checking rental prices the other day, and flats in my current building go for £200+ a month more than what i pay. I haven't had an increase in rent in 6yrs(!). My mortgage is going to be approx what my current rent is, so it makes is slightly easier to accept!
My colleague purchased a 2 bed flat in Peckham (East Duliwich side) 18 months ago for £350k - ground floor Victorian conversion. The upstairs flat, which is significantly smaller than theirs and has no garden, just sold in less than a week for £450k. A similar flat to theirs a couple of doors down has just gone for £550k. Craziness.
We just completed on a place in November and the market was definitely heating up at that point, but I'm glad we didn't leave it any later. I feel for anyone who's having to go through this now!
We just completed on a place in November and the market was definitely heating up at that point, but I'm glad we didn't leave it any later. I feel for anyone who's having to go through this now!
I have a feeling i'm in for a long one here. I still have the fear the chain will collapse at any moment. I've just had the valuation back, which surprisingly is just over what i've offered. I say surprising as it's way over what they've gone for before, and i was fully expecting an under valuation as that's what seems normal at the moment. Hopefully everything can move on a little with this purchase now!
got lucky with our house, it appeared on agents website friday afternoon, rang up to view saturday morning and there was a line of people waiting after us to look around, place didn't even have a for sale sign up yet.
By the time we got home and thought about it there was 2 offers on the place. We had to offer full asking price and because we were chain free ours would be accepted.
We had viewed many in the area but they were being snapped up within a week i couldn't believe how fast they were shifting.
By the time we got home and thought about it there was 2 offers on the place. We had to offer full asking price and because we were chain free ours would be accepted.
We had viewed many in the area but they were being snapped up within a week i couldn't believe how fast they were shifting.
Frustrating.
My sister is looking to buy, she saw a house appear on the market midweek in SW London, by the time she'd phoned to enquire (an hour or two later), it was already under offer! She's viewed over 20 properties and failed to get one offer accepted. Has even offered mildly over. She's got no chain, cash buy, too!
My sister is looking to buy, she saw a house appear on the market midweek in SW London, by the time she'd phoned to enquire (an hour or two later), it was already under offer! She's viewed over 20 properties and failed to get one offer accepted. Has even offered mildly over. She's got no chain, cash buy, too!
There's a real lack of decent places coming on the market at the moment so inevitably when it comes up people all want to get in on it. I've noticed round here that a lot of places are coming on, going off within days then coming back again a month or so later just for the cycle to repeat again!
I doubt the pension changes will have a big impact though. To take enough out to buy a house will end up costing a fortune in tax which isn't the smartest way to get your pension money. I also doubt whether someone heading into retirement really wants the hassle of letting a property, no problem in the first few years but when/if illness etc comes in the last thing I would want is the stress of tenants to guarantee your income.
I doubt the pension changes will have a big impact though. To take enough out to buy a house will end up costing a fortune in tax which isn't the smartest way to get your pension money. I also doubt whether someone heading into retirement really wants the hassle of letting a property, no problem in the first few years but when/if illness etc comes in the last thing I would want is the stress of tenants to guarantee your income.
And in todays news, the minister in charge of the Help To Buy scheme has a huge, offshore located, tax & inheritance tax structured buy to let portfolio with properties in oxford and surrey.
She resigned as director of the trust just before her promotion and put her 18 year old son on charge, whose occupation is listed as 'student'.
Strange how her boss Osbourne keeps talking about stopping offshore schemes but is fine with his employee having one.
She resigned as director of the trust just before her promotion and put her 18 year old son on charge, whose occupation is listed as 'student'.
Strange how her boss Osbourne keeps talking about stopping offshore schemes but is fine with his employee having one.
MitchT said:
I avoid all of this pain by having a salary that would have to double and savings that would need to multiply by five before I could even start to think about buying. 
Your profile says Leeds so take it you mean close by?Lots of cheap places in quieter towns within an hour commute to Leeds.
NightDriver said:
There's a real lack of decent places coming on the market at the moment so inevitably when it comes up people all want to get in on it. I've noticed round here that a lot of places are coming on, going off within days then coming back again a month or so later just for the cycle to repeat again!
Why are they coming back on the market?People failing to get mortgages approved?
porridge said:
Your profile says Leeds so take it you mean close by?
Lots of cheap places in quieter towns within an hour commute to Leeds.
You can get some stonkingly cheap property in Leeds, some areas might be twinned with bosnia but still id rather take the property market on in leeds (or anywhere oop norf really) before the madness of the London marketLots of cheap places in quieter towns within an hour commute to Leeds.
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