Homebuyers report valuation

Milkyjoe_2

Thanks - I really liked this house and would rather not lose it but am in panic mode because as a ftb I really have no idea what I'm doing. I'm so scared of making a bad decision that I'm constantly overthinking and 2nd guessing.

BJV

The fact that it was sold for 60 then done up and selling for more is not worth worrying about. We buy properties as a pension pot. Buy them do them up and keep them as rentals. The last one we bought for 70 and to get it to a good standard had to spend over £40,000. New re-wire, central heating, windows, floors, damp course, bathroom, kitchen. Almost re-plaster the whole house. Knocking down walls moving walls etc.

We know it is worth a lot more now but have no intention of selling. Well not for a long time.

So how much they are asking could be money well spent but it will depend on the level at which they have renovated it.

The fact that the vendor is asking to see the report is a good sign. They may not be aware of the issues and will give you a good reason to be able to knock the price down.

Good luck and really hope this one works out for you.

P.s I buy houses quiet often and still worry so it is normal, natural and a good sign that you are thinking not only with your heart about the house but also your head. Which is a fab way to buy a house.

Milkyjoe_2

Popping in to say thanks to everyone for your advice. As i was contemplating what to do, a house came up for sale two streets away virtually identical apart from decor and virtually 10k less. I'm perfectly happy to do a bit of painting for that sort of price difference.
Valuation was much closer to offer and whole thing is going ahead.