MA picked a different lender

TranceNRG

amnblog, I don't want survey to give me a higher value, I just want them to agree to the purchase price. However I personally think the flat is worth a bit more and I've managed a good deal.

The seller has had 2 buyers pull out in the past (I'm aware of the reasons they pulled out) so I was in a good position to offer less than the asking price.
Also I don't want to give the seller any more grief by trying to negotiate the price down. Hope it won't come to that but a little concerned after all the posts I've seen about valuation being lower than the purchase price.

GMS

Why did the previous buyers pull out? Have you ensured you won't have similar issues?

TranceNRG

First person was waiting for the deposit money from their parents in China but had problems getting it.

Second buyers were a young couple looking to have kids soon. They found out that there's going to be new houses built in the next 5 years, behind the flat. Currently there are unused warehouse buildings in there. The couple were concerned about the noise from the new development. This isn't a huge concern for me. Besides it will be better with new houses than empty warehouses next to my back garden.

Anyway this is what the EA told me and I have told them that I needed the full story. She assured that the building surveys carried out came with no problems. If they have lied, I will find out soon and it is only going to be more unpleasant for the seller so I don't think they are lying.

GMS

As a rule of thumb how do you know when an estate agent is lying?..............................................


Their lips are moving!!

Unlikely to tell you if there is a huge issue as they won't get an offer. As there is no regulation they can say and do what they like.

TranceNRG

I'm aware of that GMS but I can't see any obvious issues with the property and think it's a great buy. If there are any issues (apart from the new development) hopefully they'll flag up during the survey and conveyancing process. I'm confident that I've been told the full story.

EA is aware that I will also pull out if they've hidden something. They are better off telling me the truth and agreeing on a reduced price than lying and me later pulling out, making everyone unhappy including the seller.

amnblog

Someone is yanking your chain.


Don't be in a hurry to buy this property over the value.

TranceNRG

Why do you think I'm buying it over the value? I've offered quite a bit below the asking price.

amnblog

Because I mixed you up with another post!


Apologies

TranceNRG

No probs!

I have been pretty cautious so far. It's taken me about 6 months and about 30-40 viewings. I've tried to buy something I like plus something that has potential and will grow in value.

squeeks

Leon_W wrote: »

As an aside. Your paying £300K+ for a property and quibbling about the valuation fee being a couple of hundred quid more expensive ??????? Really ?

You are right that it is a small percentage in the grand scheme of things, but a couple of hundred quid is a couple of hundred quid, however you cut it.