Quit everything , and start again over 50?

harz99

another_casualty wrote: »

Thanks again

I'm already listed with a few estate agents in the poole area .
Don't think they're big chains etc.
I will start calling them Monday ( maybe tomorrow on the train ).
I will also email them a sap .

Now , I guess the real worrying starts . Which solicitor / how do I pay a deposit on a place when broke / when to instruct solicitor / finding a place etc.

I was gonna use the solicitor I used in the past .( based near the British museum). He gave me a quote, back in May . I was thinking of using the same one as the first time buyers. Chase Buchanan recommended me one, and will email me their details etc.

Was gonna wait till the survey was done, before committing to anything.
( facial board/ eaves ) as previously mentioned here.

Getting very nervous .
If they pull out, then I'll probably take off market till next year, and wait till prices go up and try again.
It's almost 5am

AC, firstly don't use the same solicitor as your buyer, secondly don't take your EAs recommendation unless you already have used that solicitor.


Either use your previous one if you are happy with them, or find one which you can get into within their office hours if needs be, preferably one which corresponds with you using email rather than snail mail for every little thing.


And definitely don't use a firm which uses a call centre to deal with your business, rather than one dedicated person (which may be a Solicitor or Licensed Conveyancer).

tlc678910

another_casualty wrote: »

Getting very nervous .
If they pull out, then I'll probably take off market till next year, and wait till prices go up and try again.
It's almost 5am

If they pull out give your second offer a ring.
Ask if they are still interested before you remarket.
I guess the price could depend on the market but if there has been not much change you could say at the amount you had accepted from your first time buyers.

Tlc

lessonlearned

AC

.......And breathe.

You are overthinking things.....relax, take one step at a time, cross bridges as and when you come to them.

1. Solicitors. The golden rule is always chose your own, one who will act in YOUR best Interests.

Personally, when it comes to doing business, I'm an old fashioned girl. I like to actually see the person I'm doing business with, face to face. I can suss them out better that way. plus it's handy to be able to "pop in" when necessary, delivering documents etc.

So for me no internet firms, no EA "recommendations" or linked deals.

As for which EAs you deal with for your purchase - it's largely irrelevant when you are a buyer. It's the property you are buying, not the EAs services. They work for the Vendor not the purchaser. They may be the biggest idiots on the block, it doesnt matter. You are not paying them.

2. Completion dates. I will say this only once.......

Absolutely no faffing around, no procrastinating, and don't mess your buyers about. I mean it. 1 in 3 sales fail to complete, usually because of unnecessary delays and people just faffing around and acting like fools.

DO NOT MAKE YOUR BUYERS WAIT WHILST YOU HOUSEHUNT!!!!!

Sorry for the shouty letters but I cannot emphasise this point enough.

If you absolutely cannot find your dream home then rent. DOnt be precious about this. A six month rental is nothing and in your case I go so far as to say it's essential.

Why do I advocate renting so strongly.

You are moving to a new area. You know virtually nothing about it. Buying "blind" is madness..

My husband and I had to relocate several times because of work commitments. We rented first every time.

And.......please no lame excuses about "ooh it's hard having to move twice". Tell me. I've done it 4 times.:rotfl:

Try it with two small babies under the age of 3, one of which was routinely admitted to hospital with asthma, a husband who is working all hours and having to travel abroad for work, and no family help whatsoever. Then you will know the meaning of difficult.

Rent for the following reasons...

1. It simplifies everything and means you can give your purchaser a quick legal completion, thus reducing the risk of your sale failing.

2. It strengthens your position as a purchaser. Any money spent on rent can be recouped as "discount" off your ongoing purchase. You can take advantage of some serious bargains.

Remember you will be an unencumbered cash buyer. You will hold all the aces.

3. It gives you a breathing space and time to find your "Dream Home".

4. It helps avoid making costly mistakes by buying the wrong property.

Try and relax and don't try to cross bridges before you come to them..

Just focus on getting your sale through to completion. You are not out of the woods yet.

All you have so far is an offer which you have accepted. You are not home and dry yet. Your sale is not safe until contracts are exchanged.

Be practical, be realistic and approach each step calmly and logically.

lessonlearned

Right.......now that you have your offer, now is the time to double check and make sure that all your paperwork is in order.

Time to get to work to ensure you have a smooth transition to exchange.

Your solicitor will want the following.

Actually you should do this before you even market your property but most people don't.

You need to ensure that you have everything house related, this might be deeds - or at least know where they are....ready to hand over.

All building regs, planning permissions, guarantees and receipts appertaining to works carried out, equipment being left etc.

Details of energy suppliers, maintenance contracts etc, service booklets for boilers.

Photo copy everything. Don't leave it to chance. Paperwork can get lost or mislaid.

I always take two copies, one for me, one for the purchaser and the originals go to the solicitor.

All keys, including keys to window locks.

I also make up a "welcome pack" for the purchaser. This will include leaflets or details of local amenities, doctors, local shops and takeaways, taxi firms, bus routes etc, instruction booklets for appliances etc

And of course I do a final deep clean of the property........:rotfl:

I usually throw in a "new home" card, bottle of wine and a bunch of flowers, together with my forwarding address for any mail which escapes the net.

lessonlearned

At the beginning of the thread I ran some numbers for you....

Here's an update, using what I see as probably worst case scenario.

Selling price...............................£375
Less debts and mortgage ............£105k

Assumed selling costs...................£10k

Leaving you approx £260k

Earnings........let's assume worst case scenario of min wage job, 25 hours per week.

25 hours £7.50 .......................£9360

Living costs

Council tax ...............................£1000
Water rates...................................360
Gas and leccy............................ £1000
Household insurance ................... £250

Total ........................................£2610

Round that up to £3k for contingencies

Food, housekeeping and misc........£2500
(Just over £200 per month)

So let's call it £5500.

That leaves you with £3860 for discretionary spending, TV licence, Internet, mobile etc, fun stuff and savings.

Very doable.

This does not take into account any interest or investment income on any lump sums. And it only assumes a very modest income. You will probably earn more.

Verbatim

Congratulations on your offers. I hope you're enjoying Poole and find somewhere to live soon

another_casualty

lessonlearned wrote: »

At the beginning of the thread I ran some numbers for you....

Here's an update, using what I see as probably worst case scenario.

Selling price...............................£375
Less debts and mortgage ............£105k

Assumed selling costs...................£10k

Leaving you approx £260k

Earnings........let's assume worst case scenario of min wage job, 25 hours per week.

25 hours £7.50 .......................£9360

Living costs

Council tax ...............................£1000
Water rates...................................360
Gas and leccy............................ £1000
Household insurance ................... £250

Total ........................................£2610

Round that up to £3k for contingencies

Food, housekeeping and misc........£2500
(Just over £200 per month)

So let's call it £5500.

That leaves you with £3860 for discretionary spending, TV licence, Internet, mobile etc, fun stuff and savings.

Very doable.

This does not take into account any interest or investment income on any lump sums. And it only assumes a very modest income. You will probably earn more.

Thanks again LL
My Payplan debt : approx £24,000
One reason I was hoping for a higher offer .

another_casualty

Thanks everyone . LL, huge thanks .
On train on way home . Great meeting up with about 9 others
I twisted my foot . Must put ice on it when I get home.

A few more things I have to consider : Eaves/ fasciial board will come up on the survey . another price reduction ??

If sale does not go through .. Solicitors fees .. How do I pay when I have absolutely nothing .

Myasthenia gravis : 1 or 2 were saying I could tell my employers I am not fit for Job and try for redundancy / Ill health payoff.

My Geordie friend now buys / sells property . He thinks I should live there as he knows a lot of people unlike Poole where I know nothing .
He could sell a flat to me £85,000

I'm very scared now

wendym

"Myasthenia gravis : 1 or 2 were saying I could tell my employers I am not fit for Job and try for redundancy / Ill health payoff."


I know from experience that it's psychologically difficult to 'give in' to illness, but sometimes it's unavoidable.


The NE coast is wonderful. Decent train links to London for an occasional trip.


Great to have life-changing decisions made more complicated, isn't it?

lessonlearned

Oh AC I am so sorry you feel so scared. It is a stressful time for you and I wish I could say something that would reassure you.

I know It is so much harder to make decisions when you are on your own and you have no one you can chew things over with. I can understand your trepidation perfectly.

My husband was my "sounding board" and I could always rely on him for sterling advice and wise words of counsel. My boys are great and have learned much but it's not quite the same as having a life partner whom you know and can trust implicitly. Especially at night when you feel isolated and alone.

"For the night is dark and full of terrors". Yes another GOT fan here. :rotfl:

Relocating. To the North East .........

............well you could go for a holiday and take a look round. There is some stunning countryside up there and some fine cities, beautiful beaches and the people are warm and friendly and yes property is very affordable, although yes the weather can be inclement. Also good train links down that east coast line.

I have lived in Scotland, beautiful but cold......:rotfl:, I have spent time on Orkney also beautiful but even colder.......:rotfl:.

I have also travelled round the UK, Wales and Ireland pretty extensively.

This is what I learnt.

This island of ours is both beautiful and varied and it's fair to say that in most places your budget will buy you a very nice Property, even on the south coast. I could live practically anywhere in this fine country of ours and be perfectly happy.

The only reason I remain here is because of my family connections. If my sons moved away then I would be free to live anywhere.

I have to say I dont know Poole itself very well now, it's over 30 years since my friends lived there but I'm assuming the further west you go, increasing the time and distance from London, then the more affordable housing becomes. EVen a few miles could make a huge difference. As long as there were decent transport links then you could see your friends regularly and find work.

As for asking for redundancy/early retirement on the grounds of ill health. Why not, it's worth a try. Maybe discuss it with your GP first though before you approach your employers and see what he or she suggests.

I seem to recall that you have worked for some time at your present employment so might be worth a shot. Perhaps even a period of sick leave whilst you house hunt.......???