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FTB - PRC property
beancounter86
Posts: 3 Newbie
We have found our dream house and have put in an initial offer £5k below the asking price which has a good chance of being accepted.
However the house is a unity house and we have been reassured that a full refurb and repair job has been done with no expected additional structural work to be done. We are still waiting for a copy of this report and also the PRC certificate and obviously won't proceed until we see this.
Assuming everything is ok (which we think it will be as there are tenants in there at the moment and the energy rating is a C) what is the stigma attached to the property? We will be thinking about selling in 10-15 years and don't want to be stuck with an amazing house which we can't sell.
There hasn't been much other interest in the house but we can't tell if that's because of the PRC issue or because the current tenants only allow 1 hour of viewings per week.
All thoughts and comments welcome!!!
However the house is a unity house and we have been reassured that a full refurb and repair job has been done with no expected additional structural work to be done. We are still waiting for a copy of this report and also the PRC certificate and obviously won't proceed until we see this.
Assuming everything is ok (which we think it will be as there are tenants in there at the moment and the energy rating is a C) what is the stigma attached to the property? We will be thinking about selling in 10-15 years and don't want to be stuck with an amazing house which we can't sell.
There hasn't been much other interest in the house but we can't tell if that's because of the PRC issue or because the current tenants only allow 1 hour of viewings per week.
All thoughts and comments welcome!!!
0
Comments
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Personally I consider buying property in the PRC to be high risk. The Chinese property market is unregulated, and prices have risen hugely over the last few years, on the back on very poor lending decisions.what is the stigma attached to the property?
Chinese land and property values are a bubble waiting to burst. The question is simply... when?0 -
Sorry - I meant that it is a pre-cast reinforced concrete property, not that we're buying a house in China :O)0
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Personally I consider buying property in the PRC to be high risk. The Chinese property market is unregulated, and prices have risen hugely over the last few years, on the back on very poor lending decisions.
Chinese land and property values are a bubble waiting to burst. The question is simply... when?
:rotfl::rotfl::rotfl::rotfl::rotfl:0 -
I'm not sure whether there is a standard repair certificate that is acceptable to all lenders so you could find that your particular mortgage lender is happy to proceed, but when you to sell a future buyer's lender takes a different view.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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