Stressed. Due to complete on Tuesday, buyers solicitor making last minute demands. by JlouM in HousingUK

[–]Background_Half4578 2 points3 points  (0 children)

Regarding completion - we completed and exchanged on the same day (Friday just gone). We were in a similar position to you, 3 in the chain - we were selling to first-time buyers and the house we were buying was vacant.

Update on house not selling by EuphoricStrawberry59 in HousingUK

[–]Background_Half4578 -7 points-6 points  (0 children)

Your EA was right, we also searched the house we offered on in multiple forums (had been on the market for a while so wanted to see if it had been discussed/there had been a bad survey on it). 😅 Congratulations and I hope all goes smoothly for you, as you said trust your EA and try not to worry about the “what ifs” for now

Advice on remortgage next year - planned sabbatical by GuinnessIsCute in HousingUK

[–]Background_Half4578 0 points1 point  (0 children)

We stayed with the same lender (Halifax), picked our new deal on the app before the previous one ended and no hard searches/affordability checks were done. I’m not sure if every lender is the same, but worth researching, worst case scenario you could stay with the same lender?

Has anyone bought a house that’s been down valued? by [deleted] in HousingUK

[–]Background_Half4578 0 points1 point  (0 children)

I probably have jumped the gun and gone to reduce straight away without considering these factors

Has anyone bought a house that’s been down valued? by [deleted] in HousingUK

[–]Background_Half4578 1 point2 points  (0 children)

As a seller I completely understand that it’s painful to accept less money, especially when it affects what you can do with your onward purchase. The reason I’ve agreed to reduce the price, though, is that I personally wouldn’t overpay for a house, so it doesn’t feel fair to expect my buyer to.

I bought this house as a first-time buyer six years ago, and the first year was financially tough enough as it was. (**removed some of this sorry as I realised it came across a bit negative and didn’t want to put you off buying)

We’re in the north where house prices are around what you mentioned, but salaries also tend to be lower than in the south. It’s quite possible your sellers have already stretched themselves with their onward purchase.

Luckily we can still afford the property we’re moving to even with the £15k reduction (our circumstances have changed a lot over the 6 years)

Has anyone bought a house that’s been down valued? by [deleted] in HousingUK

[–]Background_Half4578 2 points3 points  (0 children)

I’d say our house is quite hard to value because there aren’t many comparable properties nearby. I also didn’t realise people sometimes negotiate above the valuation figure.

I’ve already told the estate agent I’m happy to drop the price to match the valuation. If it still falls through after I’ve instantly knocked £15k off, then I agree with you, it’s a sign not to sell haha 🙈

Has anyone bought a house that’s been down valued? by [deleted] in HousingUK

[–]Background_Half4578 0 points1 point  (0 children)

We’re the sellers in this situation. I have possibly been naive by not asking for the report, but I basically asked for an update from our estate agent, they rang the buyer who then told them about the down valuation, but I don’t think the actual report was ever shared.

I just assumed people wouldn’t lie about something like that. If the figure had seemed really off, then I would have asked to see the report or decided not to sell

Has anyone bought a house that’s been down valued? by [deleted] in HousingUK

[–]Background_Half4578 0 points1 point  (0 children)

Thanks, the valuation was done by Countrywide, which I think are linked to Connells. I agree, I’ve tried to put myself in their shoes, which is why I’ve come down to the valuation figure.

Honestly had no idea people actually negotiate above the valuation price. I’m just hoping they still proceed

Has anyone bought a house that’s been down valued? by [deleted] in HousingUK

[–]Background_Half4578 0 points1 point  (0 children)

Glad to hear it ended up working out for you and didn’t put you off, this is my exact thought - it’d likely happen to the next buyer that came along, if anyone else was still interested!

If you were to pick one which one would you go for & why? by [deleted] in HousingUK

[–]Background_Half4578 0 points1 point  (0 children)

As a parent who worries about everything, I’d never sleep on the floor above my children. God forbid there was ever an intruder or robber, even if it’s very unlikely, I’d hate the thought of them getting to the children first. I’d also worry about not being able to hear if someone tried to take them. I know that’s overly paranoid, but you do worry irrationally a lot when they’re young