2 days away from exchage

JanCee

Which part of the country do you live in?

peggydoodaa

General_Mayhem wrote: »

It seems you have negotiated well: 8% below asking price is a good position to be in (although you don't state how much you are intending to spend to rectify the issues highlighted in the survey)

If you can afford the mortgage payments (not interest only), are buying a house to live in, and like what you are getting, then I would say carry on.

If you are having doubts about any of the above, then walk away.

Totally agree! :T

Pobby

Only points I would consider.Are you renting now and comfortable with it?Is the rent cheaper than the mortgage?If yes to both I think it is a good time to sit back,don`t buy and watch what happens.

macaque_2

Zammo wrote: »

And I'm seriously considering pulling out. The house was on for 160k in August. Put in an offfer for 154k, which was accepted. After the survey revealed a few issues I was able to knock them down to 147k. By then it was October and the credit crunch was in full swing.

I was due to exchange last week, but after reading all the negative press with mortgage approvals down 30% and the 0.6% drops shown by the nationwide report I called the estate agent and told him I was going to pull out unless the seller dropped their price by a further 5k. To my surprise he got back to me within 30 minutes to say they had agreed as long as we exchanged this Friday.

Initially I was quite pleased as 142k is a good price compared to the 160k these houses were commanding before August. However after reading another deluge of gloomy articles this evening, particularly one in the times announcing a possible 30 billion funding shortfall next year for mortgage lenders, I am on the verge of calling it a day, pulling out and seeing how this all pans out next year. The down side to this is that I will be out of pocket to the tune of 2.5k already spent on conveyancing etc.

What would you fellow MSEers do in my situation, bearing in mind I have no dependants and can quite happily rent for another few years?

I just thank my lucky stars that I don't have to deal with you. You make a deal and then proceed to unmake it by chiselling away at the price. You don't seem to have a shred of integrity.

JohnInDebt

macaque wrote: »

I just thank my lucky starts that I don't have to deal with you. You make a deal and then proceed to unmake it by chiselling away at the price. You don't seem to have a shred of integrity.

Just like a lot of sellers over the past 5 years, the shoe is on the other foot now.

Doozergirl

JohnInDebt wrote: »

Just like a lot of sellers over the past 5 years, the shoe is on the other foot now.

A very sad reflection on a person if they can use other people's behaviour as an excuse for their own.

JohnInDebt

Doozergirl wrote: »

A very sad reflection on a person if they can use other people's behaviour as an excuse for their own.

It's simply karma

Curv

JohnInDebt wrote: »

It's simply karma

I thought karma was more of an individual thing.

Why should one poor seller (the OP's vendor) suffer because some sellers have behaved badly in the past?

JohnInDebt

Maybe I'm a bit bitter 'cos a few friends have been gazumped in the past, after a selling price was agreed

Tomthumb

I know you have to do what's right for you but I do feel for the sellers - I was let down around this time last year and it's not great at anytime but before Christmas it's rubbish - we had already packed up and really weren't ready once christmas came round.

But do what's right for you as soon as possible.