Cash purchase / stubborn estate agent?

ComicGeek

Scotbot wrote: »

It's not down to her the energy company will come up with a price and depending on the contract it could be a lot more than 10k for 19 years. I've seen estimates of 1.5 k per year which would be 28k. Check where the figure of 10k comes from.

Secondly the contract will have clauses around maintenance and repair and who pays for them. This will affect the valuation as mortgage lenders will not accept some of these clauses. This makes resale a problem. I suggest this could be why the house has not sold before

She needs to get a quote and contract from the energy company for transferring the panels to you and you . This contract needs to be reviewed for mortgage compliance by your lender or solicitor if you are a cash buyer.

You're assuming here that it is already a rent-a-roof scheme, the OP hasn't said that. The OP has suggested that the vendor may look to sell the FITs to make extra cash rather than transferring it to the purchaser - that would then make it a rent-a-roof scheme which would be crazy to proceed with without further vetting. There was a very similar thread on here recently about a vendor who wanted extra for the PV panels or they would sell the FITs.

Unfortunately the OP has shown that by firstly offering a hugely over optimistic sale price, and then secondly by agreeing to pay a lot more for basic fittings and PVs (which any sane person would argue is part of the sale price) that they are an easy target for further price increases.

And given that the property has been for sale on and off for 4 years just shows that the vendor is a nightmare and/or the property is massively overpriced.

mowlem

Remember also, you have not had the survey done yet, so you could still knock 20-30k off the price. She has also not yet got somewhere for her to move to, so no matter how ready you are. there will be a chain for you to get entangled with, in all likelihood.

Frankly, they are playing you.

VintageHistorian

The problem with being a cash buyer is that the estate agent can't made extra commission off you by pointing you towards a particular broker.

The vendor sounds like a nightmare and you haven't even agreed a purchase price yet. Setting aside the gazumping fear, she could easily be someone who keeps you waiting for the next 12 months while she finds her ideal house, only to then change her mind and decide she'll stay put.

With a life changing injury I can see why a completed bungalow in good condition would be essential, most bungalows will need updating as they're mostly owned by elderly people.

I know it doesn't get mentioned much on this forum, but could you perhaps find a few other bungalows in your preferred area, and pop a note through the doors saying you're in the market for such a property and could they give you a call if they decide to sell. It might prompt someone who is thinking of moving but doesn't want the hassle of dealing with lots of viewings and estate agents etc.

I'd say it's definitely time to cool off on the estate agents and the house. Don't call them, wait for them to chase you. In the meantime keep an eye out for other properties that get listed. As you say you've come across as very keen, almost a little desperate, so take a step back and let the vendor and agent start to take on some of the worry instead.