Selling a week after moving in

letitbe90

Surely any extra costs in bills or even modernisation is a drop in the ocean compared to the cost of rushing a move to a smaller place, considering all the fees and costs involved?

need_an_answer

Sadly I fear that whilst the OP is still reading the comments,he's no longer posting on the thread.

Perhaps he's made his decision although it would be a shame if he doesn't come back and update the thread at some point....if he's still reading.

Smodlet

It is clear to me the MiL paid the deposit; how else do you have equity in a house you have owned for a week? Had the OP paid it himself, he would be far less eager to throw away £000s. It seems reasonable to assume it is not his money he is throwing away.

Whichever way you slice it, re-marketing after a week is beyond nuts. There are several other ways, most of which have already been suggested but the OP seems one of those people who, once they have an idea in their head, feels it is etched on a stone tablet.

Whatevs. Either the entire plot is sinking, the neighbours belong on a Channel 5 "documentary" or someone will get a bargain.

need_an_answer

Your quite right I believe smodlet...theres no way that MIL was not lined up to be a big investor in this...it just mystifies me why she left it so late to pull out of the deal.


Lets hope that they didn't actually fall out over something as simple as a wallpaper choice or what colour she wanted here room...

Maybe part of the reason now for the desire for a smaller house is indeed she wants her capital back.

Although when people go into 3 way arrangements it always surprises me that there isn't a contingency plan and not one of them thought to ask "what happens if"....the answer always being "it wont happen"

Lungboy

letitbe90 wrote: »

Surely any extra costs in bills or even modernisation is a drop in the ocean compared to the cost of rushing a move to a smaller place, considering all the fees and costs involved?

This has been raised several times now and not been addressed.

Smodlet

need_an_answer wrote: »

Your quite right I believe smodlet...theres no way that MIL was not lined up to be a big investor in this...it just mystifies me why she left it so late to pull out of the deal.


Lets hope that they didn't actually fall out over something as simple as a wallpaper choice or what colour she wanted here room...

Maybe part of the reason now for the desire for a smaller house is indeed she wants her capital back.

Although when people go into 3 way arrangements it always surprises me that there isn't a contingency plan and not one of them thought to ask "what happens if"....the answer always being "it wont happen"

I think it was always MiL holding the purse strings and someone realised, at the last minute, they could not stand to live her or she with them; now the OP and his OH are left holding the mortgage/outgoings and the clock is counting down to repossession. As you say, how on earth does anyone fail to think of the glaringly obvious what-ifs in such a situation?

Rightly or wrongly, I would feel far more sympathy for the OP had he just been honest from the outset, just as I empathise with those who hold their hands up to the cause of their debt far more than those who blame banks/credit card companies.

We all mess up; the only distinction is how we deal with it. I think the OP would do well to take a huge step back and really think about the options open to him. "The darkest hour is always before the dawn."

kerri_gt

need_an_answer wrote: »

Your quite right I believe smodlet...theres no way that MIL was not lined up to be a big investor in this...it just mystifies me why she left it so late to pull out of the deal.

It could be anything I guess from a dramatic change in health meaning a nursing / care home / hospice is now required to meeting a gigolo at the local salsa club who whisked her off her feet and deciding on a whim to spend her days cruising the world with him in tow - or anything in between.

The outcome for OP and his wife is still the same unfortunately.

steampowered

The bit I don't understand is why the mortgage is so unaffordable. Lenders are only lending 4.5x salary and we are at record low interest rates, so really a new mortgage should always be very affordable. Except for cases where mortgage fraud is involved - I'm not suggesting that's necessarily the case here.

lincroft1710

sal_III wrote: »

It's irrelevant, as "too large" is subjective. Most people here would agree that there isn't such thing
as "too large" rooms, especially once kids are involved.

While knowing the exact dimensions might help calculate the cost for extra decorating/furnishing, at this point it's clear that OP has made their mind and not interested in alternatives to immediate sale

My point was if the bedrooms were say 15 ft by 12 ft then that is large, but not huge and unmanageable, but if they were say 20 ft by 16 ft then the OP may well have a point

groovy_chick

There are so many questions...…..

Do we really believe that the OP's lender allowed them to borrow for a house that they could not afford without the MIL chipping in for bills?

Why has no-one asked how it is that MIL can change her mind on a whim and leave the OP and OH unable to afford to stay in this house? Did she literally decide on moving day or did the OP not consider pulling out before completion (potentially cheaper than moving again).

I recently moved house. The only thing keeping me awake in the first week was my aching limbs and the promise of another box needing to be unpacked. I don't think I stopped reeling for long enough to think about anything else for weeks, and I have certainly not thought once that I have too little stuff and too much space!

And when I viewed this house, the EA gave me the wrong date that the previous owners had moved in which made it look like they had only been here for a year and I was seriously concerned that there was something wrong with it. Fortunately it turned out to be 5 years.