Pulling out advice & costs ?

beecher2

veryworried12 wrote: »

I didn't realise there were unwritten rules in buying a house. All those people who pulled out of sales in the past month must not get it either. The house is worth what the valuer says in my book. I can either pay it or not and I've chosen the latter. I did try to negotiate.

The deal is off and that much is clear to both sides so little point in discussing this point really now but thanks anyway

Fair enough, but your buyers didn't ruin it for you by not accepting your revised offer.

Brexit is being blamed for everything it seems, I think in Scotland it has had an effect on the volume of sales, but not on prices. Though it seems to me the changes to stamp duty are more likely to have impacted on sales.

Chanes

If it is any comfort, we pulled out of a house sale and our costs were similar to yours, we had a building survey which cost more than the homebuyers, for us, the costs of repairs became too much on top of the purchase price coupled with some outright lies told to me by the estate agent. We found another house and almost pulled out of that too until a price reduction. The fact of the matter is though it's expensive, the alternative could be far worse. It's cold comfort I know. I'm sure it will work out for you but home buying is notoriously stressful and expensive. Good luck!

G_M

veryworried12 wrote: »

The mortgage was already offered they do the valuation after......

The vendor ruined the purchase by being ungracious and making personal remarks which the agent accidentally let on.

Really? Which lender is it that makes a mortgage offer before undertaking a Valuation?

Whatever the tone used by the vendor, it did not 'ruin the purchase'.

What ruined the purchase was a failure to agree on the price.

beecher2

Selling and buying is much more stressful than buying as a FTB in my opinion.

csgohan4

glasgowdan wrote: »

Some people just can't handle the concept of someone pulling out of a sale after unexpectedly finding out they'd be paying too much if they continued.

Put it this way...You're in a shop buying a telly. It's £200. You're at the till and the cashier says "£200 please ". Guy in the queue behind you says "here pal, that telly is £150 in the shop next door".

In principle, would you still buy it? This mindset applies across the board whether a house or a telly.

Don't forget to factor in supply and demand. If the £200 TV is in short supply and you risk going for the cheaper one next door not knowing there is any left.


Only this time a cooling period doesn't apply without costs

Chanes

beecher2 wrote: »

Selling and buying is much more stressful than buying as a FTB in my opinion.

Absolutely. Next time we will sell and rent and wait and then buy.

AdrianC

veryworried12 wrote: »

The vendor ruined the purchase by being ungracious and making personal remarks which the agent accidentally let on.

I don't give the first flying toss what the vendor says about me. Just so long as they don't play silly !!!!!!s with the sale.

anotheruser

People have way over complicated this.

Buyer says they will buy for X price.
Seller agrees.
Buyer now says they don't want to pay X but will pay Z.
Seller says no.

That's it then. Seller doesn't have to sell, buyer doesn't have to buy. The buyer has tried to negotiate, the seller hasn't changed their view. Case closed - no house sale.

Mr.Generous

I imagine the valuation isn't based on a big volume of deals agreed and completed post Brexit, I would think its the valuers opinion that it is worth less. Speculation in other words. In reality a property is worth whatever someone is prepared to pay for it. Your lender trusts the judgement of your valuer. I would do some research myself. Presumably you thought it was worth the price you offered?

lydriver

if you can afford the difference (60k) then no point sweating about max £1300 fees!