Survey Problem??

whatamess_2

If they have a 115% mortgage surely they can still complete on the sale?

They will get that money eventually anyway.

If they pay you £2.5k less there mortgage will be £2.5k less, you dropping the price will not benefit them at all.

Oddgy

whatamess wrote:

If they have a 115% mortgage surely they can still complete on the sale?.

Youll laugh at this - they told our EA a couple of weeks ago that they were happy to move in without us gettin the firewall fixed. As long as we paid half for the building work to be completed they would get it done once they were in. They also realised they would have to wait for the works to be completed for the money to be released, but as they were gettin more money from the lenders they could afford to do this.

We were happy with this, as we didnt have to arrange for the work to be done before we moved, just knocking our share from the asking pirce..........EVEN THO 2 weeks prior to this they INSISTED the firewall be fixed as they couldnt afford to complete without it. (Yes thats right - once again they changed their minds)

Now all of a sudden, the lenders have reduced it to 2.5k, and you would think theyd be thinking "great...", but no, now all of a sudden they have decided to COMPLETELY move the goal posts, and have asked us to meet the 2.5k retention figure.

Some one has either ill advised them, or they are trying to cause problems to force us to buckle...its not fair, and its not right. :mad:

pawpurrs

Its one thing after another isnt it. Thats how I feel too, with my sale, just cant wait untill its all done and dusted. The stress is unreal.
:wall: :
Hope it gets sorted Oddgy, sending you big :grouphug:

Oddgy

pawpurrs wrote:

Its one thing after another isnt it. Thats how I feel too, with my sale, just cant wait untill its all done and dusted. The stress is unreal.
:wall: :
Hope it gets sorted Oddgy, sending you big :grouphug:

Yes it certainly is. Is it worth it eh.
Thanks for the hug PawPurs - im sending one back to you as it sounds like u need one too. :grouphug:

Just think - could be worse, we could be homeless. lol.

matto

If they need 115% mortgage I reckon they'll be pretty sore if the move doesn't go ahead as they'll have forked out a pretty packet on survey and no doubt mortgage application fees.

whatamess_2

Oddgy wrote:

Some one has either ill advised them, or they are trying to cause problems to force us to buckle...its not fair, and its not right. :mad:

They are probably trying it on to get you to reduce the price.

Or they have someone saying, get him to knock to money off you have your mortgage offer so you will be £2.5k up. They probably dont realise the mortgage company will pay £2.5k less.

Oddgy

matto wrote:

If they need 115% mortgage I reckon they'll be pretty sore if the move doesn't go ahead as they'll have forked out a pretty packet on survey and no doubt mortgage application fees.

You think so? I often sit and wonder how much they have paid. They may have had a free survey or free product fee deal so wont have anything to loose. Just dont know do we. Their lender is Northern Rock and i know nothing about their deals so i wonder. Can any Advisor comment?

pawpurrs

The fees for that kind of deal is normally quite high, it sounds to me like they are at their limit, and need the 2.5k to contuine, did they start off at lower offers, that you wouldnt accept?

You never know, you may get some good news with this survey and recoup some loss that way.

Either way, i think you need to urgently get the result of that to know if there is anything you can do at all anyway, if that makes sense.

Why should there be a retention still if you have proven that the work does not need doing. It wasnt downvalued at all your house was it?

clutton_2

i'd remarket it immediately. These guys are taking the mickey big time.

Oddgy

Well another one bites the dust.

EA rang today to say that now, after a few days of thinking about it, the Buyers are insistant that the works are carried out, (the works that was picked up by the surveyors. (Woodworm / Damp / Firewall.)

The firewall we knows need doing, and the first company that came out said that we had no woodworm, but yes, the damp did need doing.

Now the buyers are trying to hold us to ransom, saying that they will only go on the first companies recomendations and do not care that we have other reports saying their is no problem.

Yes - we did get other companies in, that did say we didnt have a woodworm problem or damp problem and have written proof of this, but they are ignoring this and saying that they are only honeouring the first report.

In conclusion, they want the full works doing by this company (which quoted £1100 to fix our damp and firewall) before they moved in. OR a reduction of £1100 so they could get the work done once moved in.

But hello....- we do not have a damp problem....!! If we did have a damp problem then we wouldnt be so darn annoyed about alll this and would have renegociated. But how can we honestly negociate, when we have found out there is no problem? I just feel that we are being taken for a ride, and they are trying to con us here.Theyve seen an opportunity and gone for it.

Any road - i suggested that they get an independant surveyor in to check the so called damp problem, someone that has no connections or is touting for work that way an honest opinion would be given.

EA come back and says Buyers are not prepared to do this - you either reduce it by £1100, or get the work done prior to completion, other wise they will pull out.

How devestating eh.

Our poor vendors, we have found a lovely house, and we are going to loose it - but what can we do. There is no way we will sell this side of Xmas if we remarket it.

Think we have lost the will to live.