Bad experience of buying first home

heatseeker

The property has never been on rightmove. The property site it was on the link has been terminated for a long time as I still have it as a bookmark on firefox with propertybee.

franklee

heatseeker wrote: »

For future use, where can I find this out please?

I know you can buy title deeds for about £20 online but only for 1 house, not the entire street.

Put a postcode or address in here:
http://www.houseprices.co.uk/
It shows the house price data from the land registry.

kford224

MissPoppy wrote: »

She can plead ignorant to the neighbours but if there is an official account anywhere of her complaint such as the police or council and the buyers find out she could easily be sued for the purchase price of the house.

But at the moment I don't think there are any records of that, so she could sell and not have to declare anything at all

heatseeker

Thanks Franklee. Unfortunately this doesn't work as it's only England and Wales. But I'm sure this will help alot of people.

I'm going to contact my legal friend again to double check. They said I wouldn't need to declare but I want to make sure I'm not setting myself up for a fall. As far as I'm concerned nothing has been formalised or anything.

hazyjo

Just to confirm... I wasn't suggesting you complain. I was, like others, checking you hadn't, or you'd be stuffed and would have to declare it when moving.

Gawd, tricky one. Not sure where I sit and will probably stay on the fence. Part of me feels extremely sorry for whoever might buy off you. But then I'd hate to be in your shoes.

Jx

heatseeker

So I'm back...

I agree with you, it's a tricky situation. Neighbours have not been too bad actually for the last 10 days/nights. I feel abit better (probably as I'm getting proper undisturbed sleep)

I had some agents in to value and after only 9 months passing since I bought they are guiding me to put it on market for 5k less than it was on before. This wouldn't mean I lose much of the deposit I put down, however, realistically in this market I don't see buyers paying full asking price.

Even estate agent said in my local area there are about 60 repossesions a month which is dragging the cost of people trying to 'upgrade' down. So I may expect to get anywhere between 15k and 5k below asking price.

To help, it was on for 90k when I got it, 3 bed terrace. I got it for 87k, so estate agents are looking to put it on for 85k and said it could achieve anything between 70k and 85k.

What would you do? I don't know to wait acouple of years and risk property prices falling throughout possibly... or at least see what happens and stick it on the market? I don't know what to do...

Jebrelli

heatseeker wrote: »

What would you do? I don't know to wait acouple of years and risk property prices falling throughout possibly... or at least see what happens and stick it on the market? I don't know what to do...

If what the EA said is true, then any properties you want to buy will have come down in price also. I suppose it depends on whether you can take the hit for the fall in price - will it put you into negative equity? Do you have enough savings to cover deposit, moving costs, solicitor fees, etc?

If you can afford to move now it may be worth putting your property on the market just to see how much interest you receive.

heatseeker

Thanks for your reply. I'm not in negative equity, but lets say the house only went for worst case scenario figures, early 70's. Then I would lose deposit and my savings I'm building up. I would have to start from scratch again.

I'm not sure if I'm totally prepared to do this... it's a tricky one. And while dear neighbours aren't being to bad right this second it's easy to say I'll stick it out. The question is for how long as this was never going to be a long term house, but now with all estate agents telling me it could be 4-5 years being market moves again then I'm stuck.