Would really value your opinions please

shazzy1773

marybishop wrote:

If he's said that then maybe it's worth negotiating, £10k is a lot of money. But it depends how badly you want the house and presumably you have already incurred fees which if it all fell flat you could end up spending out more money to start again. At the end of the day a house is only worth what someone is willing to pay for it - I suppose it just depends on whether someone else will come along and pay the full £180k particularly if they don't have a Homebuyers on it and therefore don't know what you know. I'd say test the water but that's just my opinion.

Thank you Marybishop:T

After losing a fair bit of money on the first property we've done things a little different this time. We have the mortgage valuation & solicitors on hold until we have our own survey done - this way we only lose one fee if it all falls through due to the survey report.

I'm thinking of starting the negotiatings at £173,000, with £175,000 being the most we will pay,if not it's back to square one & onto the next property - 3rd time luckly:eek:

marybishop

Good luck Shazzy1773 - hope it all works out for you especially after the stress you must have gone through so far! I rest my case regarding HIPs - this is exactly the sort of situation that should be stopped (but that's just my opinion too!)

Let us know how you get on - fingers crossed and best of luck!

dougk_2

None of the stuff looks like any sort of issue at all. The driveway could be removed and shingled for example (in my view a shingle drive looks better than tarmac any day - but thats personal choice)
As for the garage floor unless its all broken up i wouldn't worry and if the frame of the garage is that bad you may in the end want to put up a proper brick garage. Many a garage just has a dirt floor or cheap concrete base. Assuming its a timber or sheet material single garage then you can simply buy a replacement metal one from Argos for £629!!!!!! (if you want that sort of thing)

BobProperty

marybishop wrote:

Good luck Shazzy1773 - hope it all works out for you especially after the stress you must have gone through so far! I rest my case regarding HIPs - this is exactly the sort of situation that should be stopped (but that's just my opinion too!)

Let us know how you get on - fingers crossed and best of luck!

Why would HIPs help? (If you don't already know or haven't guessed I think they are almost a complete waste of time and money)
There won't be a valuation with a HIP. It can say my terrace in downtown Burnley *
(http://www.rightmove.co.uk/viewdetails-10361282.rsp?pa_n=1&tr_t=buy)
needs a bit of work but it won't stop me listing it with an estate agent at offers over £50,000.

* that isn't my house - I'm using it as an example.

marybishop

I was referring to the fact that Shazzy has already had one purchase fall through which I assumed (maybe wrongly) was due to the survey on that one. If that was the case Shazzy has now paid out two lots of survey fees which is what the HIP would prevent. I know someone who paid for three surveys - first property people hadn't even instructed solicitors and then decided they didn't really want to move, the second property had so much wrong with it including having had work done which did not comply with Building Regs, and the third one they finally bought. I just think this is a situation that needs resolving.

pawpurrs

Is the surveyor a local one? who knows the area well. Because if he has isnt and has just gone back to the EA and grabbed a couple of sets of details, which is what most of them do then, it may be an unfair valuation, however as a buyers point of view its worth a try at getting the house down, but be prepared you may lose it, as another poster said and this is especially true of older properties, a house it only worth what someone is prepared to pay for it and before survey you were prepared to pay £180,000, you must have viewed a fair few properties and thought it was worth it, or you wouldnt have offered on it, if you are prepared to pay that for it then someone else will as well.

If you really like a house then its worth it, if you dont then its not. But if its a character property then valuations are based on someones opinion anyway as there are no two the same.

Try for a reduction, but if it doesnt work then, think do you really want to lose it??

Have you got a link, so we can have a butchers?

BobProperty

shazzy1773 wrote:

To be fair the work that the survey has highlighted isn't a huge problem to us, in fact this one is nothing compaired to what the survey on the other house came up with!!

What's really worrying us is, paying £10,000 over what the house is really worth.

Which wouldn't come out from a HIP.

marybishop wrote:

first property people hadn't even instructed solicitors and then decided they didn't really want to move, the second property had so much wrong with it including having had work done which did not comply with Building Regs

In the first case having to pay out for a HIP may have concentrated their minds on whether they really wanted to move. I do think that is one benefit of HIPs.
In the second case anyone could have asked the question about Building Regulations, starting with the estate agent who was selling it. It doesn't need someone on a government scheme to produce a set of documents for £600 to tell the client they haven't got Building Regs when they knew that in the first place. I also doubt whether all Home Inspectors may know enough to realise that there was "so much wrong with it including having had work done which did not comply with Building Regs".

shazzy1773

marybishop wrote:

I was referring to the fact that Shazzy has already had one purchase fall through which I assumed (maybe wrongly) was due to the survey on that one. If that was the case Shazzy has now paid out two lots of survey fees which is what the HIP would prevent.

I just think this is a situation that needs resolving.

Yes it was because of the survey.

http://forums.moneysavingexpert.com/showthread.html?t=189878

shazzy1773

pawpurrs wrote:

Is the surveyor a local one? who knows the area well.

Yes he is a local surveyor and know's the area very well.

pawpurrs wrote:

Because if he has isnt and has just gone back to the EA and grabbed a couple of sets of details, which is what most of them do then, it may be an unfair valuation, however as a buyers point of view its worth a try at getting the house down, but be prepared you may lose it, as another poster said and this is especially true of older properties, a house it only worth what someone is prepared to pay for it and before survey you were prepared to pay £180,000, you must have viewed a fair few properties and thought it was worth it, or you wouldnt have offered on it, if you are prepared to pay that for it then someone else will as well.
If you really like a house then its worth it, if you dont then its not. But if its a character property then valuations are based on someones opinion anyway as there are no two the same.

Try for a reduction, but if it doesnt work then, think do you really want to lose it??

Not many properties have been sold in the past & present for us to establish what the properties we've been looking at are actually worth. Plus every semi seems to be different in style/build etc so it's been really hard for us to make any kind of comparasons. Now if it was Where i live which is Manchester, you know what you would be looking at price wise for a terrace/semi etc because their are so many to compare with.

BobProperty

I remember the first one now. This one is only round the corner isn't it? A quick look on rightmove's sold prices shows only one Semi in the area selling for close to £180k, which is possibly why the surveyor is being cautious with the valuation. Does a valuation of £170k cause you problems with the mortgage? I see you are considering going to £175k to secure it, which is not a bad price as far as the vendor is concerned, given that they started at £180k. I would be tempted to have a go at the estate agent and give them some earache over the valuation figure v their asking price, point out that most buyers will be getting the same answers from their surveys and ask them what they are going to do to persuade the vendor to accept a more realistic price.