have i overpaid?

MobileSaver

mutley74 wrote: »

and should consider an electrical inspection check - are these essential as they cost £125?

Professionals always like to cover themselves so I've never seen a survey that didn't recommend an electrical inspection (although normally the recommendation is from the surveyor, not the solicitor.)

mutley74 wrote: »

Solicitor also quizzing me why am I overpaying for the house by more than £6k?

The answer being that the "valuation" is only a guide and "it is a house I like and I know the area well and not many houses come up for sale" and you want to move on with your life rather than sit around for year after year waiting for a house that might or might not become available at £6k less. Obviously the solicitor is only doing their job by making you aware of anything they think is important but perhaps remind the solicitor that we are all a long time dead...

getmore4less

if not done already

Do a rightmove "more like this" and add SSTC then go to sold prices and do the same for the area.

get a good sample of what has sold(with price) what is selling(with asking price) and see where yours fits in the wider picture.

If there is a shortage of properties you want then at least you have a good idea of the premium for this one over the current stock and can consider if the no compromises is worth that.

mutley74

Thanks for the replies. I was quite anxious last night over the issue. I contacted the vendor to arrange quotes/checks on the electrics and roof, which they are okay with but told me they cannot cut lower price any more (I did not ask for price reduction again).

I think my solicitor was concerned as a non-mortgage buyer I should be getting a better deal. I have searched for ages in the area and prices I feel are just too high. The property is to be a family home, plan to live there at least 5yrs (if all well and good) as its close to transport links and other family members.

Most appreciate the comments and feedback on the thread. When I agreed the price last week I was side tracked with other issues so did not really get time to address all survey issues and price.

MobileSaver

mutley74 wrote: »

I think my solicitor was concerned as a non-mortgage buyer I should be getting a better deal.

It's an oft-quoted urban myth that cash buyers will get a better deal on a house purchase. In the vast majority of cases the seller could not care less whether it is your money or your bank's money that ends up in his or her bank account.

Of far more importance is whether the seller is motivated or not; if they are desperate to sell or move on themselves then you are much more likely to get a discount regardless of how you are funding the purchase.