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Which buyer should we go with?
Comments
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BohemianRhapsody wrote: »Thanks all for your input.
The original buyer pulled out because he said that the mortgage valuation came £15k lower than the agreed price and he wouldn't renegotiate. He never showed the letter as a proof of valuation to us or our EA.
On an emotional level, we would prefer to sell to the FTB as it would feel better to sell to a family who wants to live in our house rather than a BTL who will just rent it out. That said, we are worried that the FTB will panic more easily about home survey, Brexit etc and that they would keep raising issues with us, dragging out the process.
My understanding is that the BTL landlord is remortgaging to provide a large deposit with a small top up mortgage. I believe they would be remortgaging several properties. Our EA said that this might delay the process a bit as well as them setting up an Ltd company for the purchase. Apparently with one previous purchase they asked for 7 weeks gap between exchange and completion, to allow more time to remortgage. When the seller refused and asked for 3 week's gap, they agreed.
Do you expect future valuations to be higher, or are they higher?0 -
Are you worried about the survey results? If over valued neither will buyAn answer isn't spam just because you don't like it......0
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