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On 16/07/2020 at 12:12, Footballwipe said:

Its undoubtedly been done to a high standard and staged very nicely for the photographs, but a property like that in its current guise wouldn't feel like a "home" to me. Needs a bit of colour/character to bring it to life, it's all very monochrome. Would like a bigger garden as well :ph34r:

 

 

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13 minutes ago, z-layrex said:

Why is my buyer's solicitor asking why I am selling my flat for 5k less than I bought it for in 2016? Surely it's obvious that house prices have fallen since then, especially on flats. Or is this a normal enquiry?

Someone will know, but a punt from me would be they're jumpy about why it's reduced? House prices seem obvious, but I wonder if they think there's something terrible in the local area/electrical/plumbing etc and bolting for £5k less as a result?

 

Where are the solicitors from? Our chain includes solicitors from Mansfield, Middlesbrough and Leicester, so they might not know about your area's house prices if they're not local.

 

/here end my pure speculation drivel

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50 minutes ago, z-layrex said:

Why is my buyer's solicitor asking why I am selling my flat for 5k less than I bought it for in 2016? Surely it's obvious that house prices have fallen since then, especially on flats. Or is this a normal enquiry?

 

solicitors don't have a clue about market movements. 

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2 hours ago, RumbleFox said:

I was hoping it might be possible to claim given that the value and mortgage is based upon this report and, because of their carelessness, we paid more than the value of the house and thus, the value has dropped based upon them missing it?

 

 

no. unfortunately not. 

 

your only obligation in England and Wales ( I know you're in Scotland) is for you to have buildings insurance and for the mortgage company to make sure that's mortgage which it is. 

 

you didn't want to have a higher survey because I'm assuming it was expensive? it's how the cookie crumbles sometimes unfortunately as if you had gone for a structural survey (which is what you should have on anything pre-ww1) it would have picked this up. 

Edited by Langley
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Ibstocks ok. We are are right on the edge of Heather and about a 5  minute walk from Sence Valley. Loads of woodland, two pubs also about a five minute walk in Heather. 

 

I appreciate it's not bosworth, but then, nor is the price.  

 

Market seems quiet, but then it's also July fortnight...m

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1 hour ago, z-layrex said:

Why is my buyer's solicitor asking why I am selling my flat for 5k less than I bought it for in 2016? Surely it's obvious that house prices have fallen since then, especially on flats. Or is this a normal enquiry?

AML requirements, They need on file that they have queried things that could possibly raise suspicion. I wouldn't take it bad, it shows you possibly have a diligent solicitor. 

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29 minutes ago, Langley said:

 

 

no. unfortunately not. 

 

your only obligation in England and Wales ( I know you're in Scotland) is for you to have buildings insurance and for the mortgage company to make sure that's mortgage which it is. 

 

you didn't want to have a higher survey because I'm assuming it was expensive? it's how the cookie crumbles sometimes unfortunately as if you had gone for a structural survey (which is what you should have on anything pre-ww1) it would have picked this up. 

Och our lawyer is on it. My friend’s father is a surveyor and said we may be able to get something so we’ll see how it goes. He advised to get it costed and put our complaint in writing to the surveyor. We’ll see how it goes. 

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1 hour ago, Langley said:

 

 

you didn't want to have a higher survey because I'm assuming it was expensive? it's how the cookie crumbles sometimes unfortunately as if you had gone for a structural survey (which is what you should have on anything pre-ww1) it would have picked this up. 

All surveys exclude what cannot be seen. So a structural survey would not have picked up dry rot unless it was visible on the exposed timber.

 

In that case, it should have been picked up in the valuation report. 

 

The other tricky thing to navigate, is that the valuer has a contract with the mortgage supplier, not the vendor so they are under no obligation to assist.

 

If Rumble wished to claim, he would need to claim from the mortgage supplier in the first instance.

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4 hours ago, Ric Flair said:

In a real dilemma, remortgage and do £20-30k worth of improvements to our house but essentially still have certain problems with whether the house is ideal for us long term or sell and buy another house and likely increase our mortgage by £75-100k in the process. Keep changing our minds on what to do, our current house has some incredible perks but it also has it's quirks that make it unsuitable now we are soon to have a 2nd child. I vowed i'd never move again as I hate it but can't see another option really.

 

4 hours ago, Ric Flair said:

A good idea, we've sort of done this already and it's a close run thing.

 

Essentially we live in a mid 3 bed terrace with 1 room being quite small but there being a huge attic room that I currently use as a full time office. It's really tricky to get up and down it though, I've fallen down the stairs twice and my 4 years old son has as well. Spiral staircases are loads of dough and not really worth it. Also there's heating and air con issues that will cost a bit. What does go in the properties favour though is, we have a decent sized basement and an outhouse that has a toilet and shower in it, it could essentially be classed as a annex. However I've been quoted around £12k to modernise it which it badly needs as again it suffers from insulation problems and is unhabitable as a bedroom or an office right now. Our kitchen is beyond words and the reason we bought the house, it has a vaulted roof and was custom built by the previous owner who was a carpenter. The back garden is very large too and essential we have something similar. Parking is crap as we don't have a drive but we do have a work shop that is further storage for various stuff. We also bought at the right time 6 years ago and paid only £130k. We'd get about £210k for it now but the properties we'd need to even replicate ours, let alone improve on it in our area are at least £275-300k and then you add in any cosmetic work that invariably has to be done to suit. The missus and I have spent years making 2 gardens (our back garden is split in to two parts due to the outhouse in the middle) and it's our greatest achievement, probably saved ourselves £10-15k in doing it ourselves minimum.

 

There's just so much still to be done to make it ideal, if it can ever be ideal for us. We'd loathe to move though but think it's the only real answer that makes sense. Sticking20-30k in to this property won't equal an increase in value of the same amount either, it's probably at it's ceiling.

Fvck me Ric, how much extra room do you want!? :D

 

We've got a similar dilema. Bought a mid 3 bed terrace 20 years ago pre kids and now it's too small for the four of us. We've converted the garage to an office for me and stuck a conservatory on but there's no room to swing a cat.

 

Stupid prices down here means it's worth about £380k but if we want the next step up around here (4 bed, garden, garage etc.) you're looking at £550k min.

 

I'll have the current mortgage paid off in about 8 years by which time hopefully the kids will have fvcked off to Uni and then it will be perfect for the two of us. The thought of moving and taking on a bigger mortgage nearing 50 years of age fills me with dread.

 

It's a tough one really. I love our house, village and neighbors and really don't want to move but we've maxed out what we can do space wise. Sounds to me like your current gaff has loads of room for potential though and if I was in your shoes I'd probably tart it up and stay put (but get your point about not getting the pay back)

 

Best of luck whatever you decide mate :thumbup:

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4 hours ago, Footballwipe said:

Oi! It's actually posh Braunstone TOWN, not the City Council side, I'll have you know.

 

Someone else actually pointed the garden out to me. I didn't even notice how non-existant it was because it's so low-maintenance it's genuinely my ideal type of garden, but I can imagine it puts some green fingered people and families off

lollol Still too close for comfort....

 

I wouldn't want a huge garden (mine is small enough and easy to manage) but that one felt a bit hemmed in. Love the indoor style though.

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2 hours ago, Izzy said:

 

I'll have the current mortgage paid off in about 8 years by which time hopefully the kids will have fvcked off to Uni and then it will be perfect for the two of us. The thought of moving and taking on a bigger mortgage nearing 50 years of age fills me with dread.

 

I always thought you were in your lower/mid 30s:o

 

Booked my first house viewing for Wednesday, it's just round the corner, not exactly what I want but it's a start and can be improved if needed.

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2 hours ago, Izzy said:

 

Fvck me Ric, how much extra room do you want!? :D

 

We've got a similar dilema. Bought a mid 3 bed terrace 20 years ago pre kids and now it's too small for the four of us. We've converted the garage to an office for me and stuck a conservatory on but there's no room to swing a cat.

 

Stupid prices down here means it's worth about £380k but if we want the next step up around here (4 bed, garden, garage etc.) you're looking at £550k min.

 

I'll have the current mortgage paid off in about 8 years by which time hopefully the kids will have fvcked off to Uni and then it will be perfect for the two of us. The thought of moving and taking on a bigger mortgage nearing 50 years of age fills me with dread.

 

It's a tough one really. I love our house, village and neighbors and really don't want to move but we've maxed out what we can do space wise. Sounds to me like your current gaff has loads of room for potential though and if I was in your shoes I'd probably tart it up and stay put (but get your point about not getting the pay back)

 

Best of luck whatever you decide mate :thumbup:

Hahaha I know it sounds a lot and it is but thats also part of the problem, we got a lot for our money and to get something equally as spacious but with less quirks will cost us a shit load more. 

 

The lounge is tiny, the heating is abysmal which requires several grand worth of work, plus new flooring in every room it effects, 12k on the outhouse and then there's still various other bits. We only have 1 bathroom and toilet in the house and the problem with the top room not being suitable for kids going up and down or pissheads like me.

 

The kitchen is unbelievable though and the garden a great sense of pride. We have no parking and have to pay for a space from a friend we know who has a flat half a road down who doesn't drive. We both work from home but if we ever need a 2nd car it will be another issue, oh and there's planning gone in to turn a factory on the road in to townhouses that will seriously effect other natural light in to the house and the whole feel. I think its time to fcuk it off and saddle myself with another 100k worth of mortgage, really ramp up the misery. 

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3 minutes ago, Ric Flair said:

Hahaha I know it sounds a lot and it is but thats also part of the problem, we got a lot for our money and to get something equally as spacious but with less quirks will cost us a shit load more. 

 

The lounge is tiny, the heating is abysmal which requires several grand worth of work, plus new flooring in every room it effects, 12k on the outhouse and then there's still various other bits. We only have 1 bathroom and toilet in the house and the problem with the top room not being suitable for kids going up and down or pissheads like me.

 

The kitchen is unbelievable though and the garden a great sense of pride. We have no parking and have to pay for a space from a friend we know who has a flat half a road down who doesn't drive. We both work from home but if we ever need a 2nd car it will be another issue, oh and there's planning gone in to turn a factory on the road in to townhouses that will seriously effect other natural light in to the house and the whole feel. I think its time to fcuk it off and saddle myself with another 100k worth of mortgage, really ramp up the misery. 

Sounds like you've made your mind up mate. Needs must I guess.

 

With a second sprog on the way too you'd really have your hands full with that and doing your current pad up I suppose.

 

A bigger mortgage is a pisser but think of all the money you've saved by not gambling :)

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2 hours ago, UpTheLeagueFox said:

lollol Still too close for comfort....

 

I wouldn't want a huge garden (mine is small enough and easy to manage) but that one felt a bit hemmed in. Love the indoor style though.

You could replicate the interior in any house though, once the current owners move out all you've bought is empty white rooms.

Whilst the interior was fabulous the garden and location were a big no (location no becasuse it's far too urban not if it's posh Braunstone or not lol).

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11 hours ago, Ric Flair said:

Hahaha I know it sounds a lot and it is but thats also part of the problem, we got a lot for our money and to get something equally as spacious but with less quirks will cost us a shit load more. 

 

The lounge is tiny, the heating is abysmal which requires several grand worth of work, plus new flooring in every room it effects, 12k on the outhouse and then there's still various other bits. We only have 1 bathroom and toilet in the house and the problem with the top room not being suitable for kids going up and down or pissheads like me.

 

The kitchen is unbelievable though and the garden a great sense of pride. We have no parking and have to pay for a space from a friend we know who has a flat half a road down who doesn't drive. We both work from home but if we ever need a 2nd car it will be another issue, oh and there's planning gone in to turn a factory on the road in to townhouses that will seriously effect other natural light in to the house and the whole feel. I think its time to fcuk it off and saddle myself with another 100k worth of mortgage, really ramp up the misery. 

I say do it! We went from mortgage free to buying a bigger place which required us to take on just over £100k in mortgage. I won't pretend I don't miss the feeling of knowing that the house was entirely ours, but it's definitely been a worthwhile investment. I couldn't begin to imagine trying to fit back into our old place again which is probably half the number of squared metres (even though bizarrely we didn't really buy extra furniture for this new place - we just have space to move between it all!)

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I've got the same dilemma, we could stay here and pay our mortgage off within 8 years. Or move to a house with a £360000 mortgage and carry on paying for the next 25 years, on a mortgage that's £1000 more a month. 

 

We are moving my father in law in with us though due to ill health and just can't do it in our current home. 

 

Buying a house with enough space to be able to create an annex is not cheap!! 😂😂😂

 

I can kiss goodbye to my plans for amazing holidays for the foreseeable future!

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Ours went on the market last week - had an offer accepted on one that we like.

 

Just need buyers to cough up, stars to align a little and mortgage underwriters not to be cnuts.

 

Fingers crossed, eh  

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20 hours ago, Ric Flair said:

Hahaha I know it sounds a lot and it is but thats also part of the problem, we got a lot for our money and to get something equally as spacious but with less quirks will cost us a shit load more. 

 

The lounge is tiny, the heating is abysmal which requires several grand worth of work, plus new flooring in every room it effects, 12k on the outhouse and then there's still various other bits. We only have 1 bathroom and toilet in the house and the problem with the top room not being suitable for kids going up and down or pissheads like me.

 

The kitchen is unbelievable though and the garden a great sense of pride. We have no parking and have to pay for a space from a friend we know who has a flat half a road down who doesn't drive. We both work from home but if we ever need a 2nd car it will be another issue, oh and there's planning gone in to turn a factory on the road in to townhouses that will seriously effect other natural light in to the house and the whole feel. I think its time to fcuk it off and saddle myself with another 100k worth of mortgage, really ramp up the misery. 

Sounds like you've already decided to move, from what you've said I'd probably do the same.

 

7 hours ago, Greg2607 said:

I've got the same dilemma, we could stay here and pay our mortgage off within 8 years. Or move to a house with a £360000 mortgage and carry on paying for the next 25 years, on a mortgage that's £1000 more a month. 

 

We are moving my father in law in with us though due to ill health and just can't do it in our current home. 

 

Buying a house with enough space to be able to create an annex is not cheap!! 😂😂😂

 

I can kiss goodbye to my plans for amazing holidays for the foreseeable future!

Regarding the father in law bit, something you've probably considered and thought about, but I'll mention it anyway. I don't know the situation regarding other family members, but make sure to get it in writing what happens in the unfortunately event of him passing. I only say this because we were going to live with my Nan many moons ago, she sadly passed away and all of her children ended up falling out over the money. If we were living there too we'd have had to sell our family home and likely lost a lot of money in the process.

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1 hour ago, Leicester_Loyal said:

 

Sounds like you've already decided to move, from what you've said I'd probably do the same.

 

Regarding the father in law bit, something you've probably considered and thought about, but I'll mention it anyway. I don't know the situation regarding other family members, but make sure to get it in writing what happens in the unfortunately event of him passing. I only say this because we were going to live with my Nan many moons ago, she sadly passed away and all of her children ended up falling out over the money. If we were living there too we'd have had to sell our family home and likely lost a lot of money in the process.

Yeah my wife is his only living relative so we have that bit covered. It's one of the reasons we are doing it.  He lives an hour away and covid has highlighted how impractical it would be if he needed closer care and support.  

 

Especially as we both work in Stratford Upon Avon but live in Ibstock. 

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I found a property that I see as a good investment (I am bit nervous about the whole process of buying a property ) I am first time buyer, I am going to view it and see if it’s worth it. I have saved for a 20% deposit which is a lot of money for me!

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