First time buyer: is it worth all this hassle? :(

MushyPeas

Hiya

I feel a bit bad posting a *feeling down* message, but though this might be the place.

I'm a first time buyer (all on my own, rather scary) who is looking to purchase a house. Before Christmas I found my dream house etc. Because it is in Cornwall I took the precaution of checking whether a mundic concrete test had been carried out. The estate agent and vendor BOTH told me that it did have, 6 years ago and passed, no problem. Needless to say after starting the buying process (searchers, solicitors fees) and then arranging my own concrete test I found out the estate agent and vendor had lied to me. Six years ago the property did not pass the mundic test, it came back positive. The property was unmortgageable. Their lies only cost me £1000.

I cried (obviously) and then started looking again. I found another lovely property, knocked the buyer down £5K and have just had a survey completed. I've read the concrete test and it has passed On advice of other surveyors I went for the Homebuyers survey which I don't recommend! They hardly looked at anything and didn't even pick up the cracked window in one room. Anyway, they have said the roof and drains need urgent attention.

So as a newbie home buyer I'm after some advice on what to do next. I feel really tired with it all to be honest, is it worth all the hassle? I can't afford all the repairs, should I get estimates and then offer a lower price?

Advice from experience home buyers will be gratefully received

Thanks

digp

You may have a case against the EA and vendor for fraudulent misrepresentation.

MushyPeas

Hiya

Thanks for the post. I read all the legal bits which said the estate agents and vendor aren't allowed to lie, but my solicitor has advised that it is basically 'buyer beware'. It doesn't seem fair that they can get away with this. Also, the estate agent isn't registered with any body so I can't complain that way

MP

exil

Certainly you should ask for something to be knocked off the price. Be prepared to walk away if needs be.

Actually being an FTB is only about 10% of the hassle of selling and buying at the same time!

MushyPeas

Thanks Exil

I never thought of the stress of selling and buying at the same time...maybe when I buy I'll never move!!

jobbingmusician

Yes, and remember as a FTB you are in a really strong position REMIND THEM OF THIS!!!! You can get a quote for roof and drains, and then offer to reduce the price by this. AND YOU CAN DO THIS AT ANY TIME UP TO EXCHANGE! - it will be a lot more hassle for them if you pull out at a later stage, than it will be for you.

The ethical thing to do is to point all this out to them, rather than to actually do it...........

MushyPeas

Thanks jobbingmusician

Sorry to be so glum, but it is all starting to seem rather scary!! So my goals this week should be:

- get quotes on building work (will I have to pay for these do you think?)
- hit the vendor with these (via my solicitor?)
- wait to see if they drop the price

I feel a bit silly that it suddenly seems like hard work

luckyfool

Get the quotes done, provide them through the estate agents, and advise that you want the price reduced by that figure. In the alternative you could insist that the work is carried out by the vendor to your satisfaction.

If you do need to get quotes depending on the nature of the work there may be a small fee. Get recommendations ideally from friends and family and make a couple of calls.

jobbingmusician

Poor old MushyPeas - yes, it's horribly hard work and very stressful. Keep your eyes on the prize - it's great to have your own property!!

MushyPeas

Ta for the support jm. I'll keep my eyes on the prize!

MP

tomstickland

I'm just going through with my FTB legal process after having an offer accepted.
It will be worth it when your monthly outgoings are paying towards a mortgage rather than the landlord's mortgage and you're free to do what you want to the property.