No information being given for extension on the house we are purchasing.

neverdespairgirl

PRINCESSKERRY wrote: »

T I just wish things were simple, I am very worried that we will lose our buyers with the time it will take if we pull out of this sale and purchase another house but at the same time dont know whether to accept the situation the

I honestly think you should do everything you can to keep your buyer in the current market - even if it does mean you rent for 6 months. You would be in a much stronger position then.

I know OH isn't keen, but I'm not suggesting a long-term rental, but one which means you don't lose your buyer (gold dust at hte moment, they are!)

neverdespairgirl

PRINCESSKERRY wrote: »

Dropping 10k in price though only saves us 4k in equity, the other 6k would have been borrowed money so hence our mortgage payments would drop by a small amount.

Saves you £4k in equity, and more like £12k when you've paid the borrowed money back!

neverdespairgirl

PRINCESSKERRY wrote: »

How quickly has a house purchase or sale gone through?

It can be done really fast. My Dad saw a house one morning, offered that afternoon (Day 1), had the survey done two days later (Day 3), exchanged a week after that (Day 10) and completed the following day (Day 11). But his solicitor is an old mate, they were at university together, so he could rely on the solicitor getting on with it.

Debt_Free_Chick

neverdespairgirl wrote: »

In this case, I'm not quite sure I agree. The OP said:

which according to the sales details and the vendor (and his so called folder of information), has had foundations and ceiling joists designed to take a second floor addition.

which suggests that he is selling it on the basis that a 2nd floor is part of the deal.

But it was built in 1993. My point was that the vendors might have had it designed to take a second storey according to Building Regs as they were then. But that the requirements might have changed - and the vendor couldn't possibly have built with future changes in mind.

Personally, I think the vendor was silly (greedy?) to market it in this way ..... but I can see I'm in a minority

Anyhow .... all seems a bit academic now

PRINCESSKERRY

Well it's all come together today, for some absurd reason the council planning department has come back and sent a letter and email confirming that they have now looking into the extension and the foundations were of the equivalent material and depth to the house. So it's all go now and we are looking to fill in the paperwork on monday.
But I think I will be writing a letter to my solicitor after this has all finished as it has been us and the estate agents pushing everything, I feel the solicitor was happy to let the sale fall through. She has consistantly said she has not received emails and faxes from the other parties and our estate agent have took to calling us directly.
She also called us back today to advise us she had sent an email telling the other solicitor that we would have to pull out by today if we did not receive any information regarding the extension in order to save the chain from collapsing but had ''forgot'' to mention the revised price if the previous claims of foundations and ceiling joists could not be proven. She then asked what the offer was again and we had to advise her what our agents were doing so we would no longer need her to pass on the revised offer.
I'm sorry but it does make us wonder what we are paying her for. :noidea:
Just so glad it may be finally coming together even if it was at the very last minute.

Doozergirl

It always is at the last minute :rolleyes:

I'm glad it's turned out okay. Solicitor doesn't sound like the brightest spark, admittedly!

Fingers crossed for two weeks time then? :j