2 days away from exchage

peggydoodaa

Tomthumb wrote: »

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.

This has just happened to me...gutted!

Nicki

How much rent do you pay? If you don't buy now isn't your true potential loss the difference between the amount the property might drop in value minus the £2.5k plus the rent you are paying for something in which you are not acquiring any interest at all?

If its a house you are buying and you are as you say single with no dependents, then if necessary you could presumably use the property as in income generating asset by for example taking a lodger or more than one, if times get lean.

It does sound like you've negotiated a very good bargain already, and that in all the circumstances you've posted the risk to you is minimal. However no one has a crystal ball, so no one can tell you what the market value of your property will be at the time you want to sell it. Once you've bought the property, the fluctuations in between are fairly immaterial surely, as the only thing which makes a real difference to you is the actual sale price and the actual purchase price.

I would also be upset in your vendors positon btw if my sale foundered just before Christmas when I'd done everything I could do to accomodate you on price. The speculation about house prices falling has been current for a couple of years now, so it would really be better if you do pull out this time, not to re-offer on another property until you are sure you have the stomach for it.

geoffky

i would say if you reckon you will move in the next 5 to 8 years i would hold off and watch the markets you might get a big suprise

Gillibobs

Nicki wrote: »

I would also be upset in your vendors positon btw if my sale foundered just before Christmas when I'd done everything I could do to accomodate you on price. The speculation about house prices falling has been current for a couple of years now, so it would really be better if you do pull out this time, not to re-offer on another property until you are sure you have the stomach for it.

I do have to agree with this, as we also had a buyer pull out on us recently (FTB who suddenly got cold feet due to interest rates apparently) I understand it is a scary experience as I too am technically a FTB (although we live in my partners flat and therefore have to sell before we can jointly buy a place) However my issue I had with our buyer in particular (and others who have pulled out in similar circumstances) is that the interest rate as well as media reports and forecasts on the market in the near future hadn't took a drastic change from when they looked at our property and decided to buy a few weeks ago. It seems many people go into this without being fully informed and it ends up in heartache for other people involved in the transaction (at the end of the day it is much more than a "business" transaction with both parties being very emotionally involved) which does get my back up a bit as I have been one of those parties.

Luckily for us the vendor of the house we are buying isn't in a hurry and kept it off the market and we have thankfully had another offer for the same price as previous.

jonewer

macaque wrote: »

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.

Its a business transaction.

The OP's first and only responsibility is to obtain the best possible price for the merchandise. No deal has been agreed until exchange.

Karma, integrity and all that are a pile of old cobblers.

atrebor

Can you afford it? If you can afford it then buy it. there are loads of arguments for buying vs renting but if you can afford it, and you seem to have negotiated well then do it.

Zammo

Nicki wrote: »

I would also be upset in your vendors positon btw if my sale foundered just before Christmas when I'd done everything I could do to accomodate you on price. The speculation about house prices falling has been current for a couple of years now, so it would really be better if you do pull out this time, not to re-offer on another property until you are sure you have the stomach for it.

I'd just like to clear something up with regards to messing the vendor around if I could.

When I first viewed the house I asked the EA to ask the vendor if there was anything seriously wrong with the house that would need attention. I was told that everything was fine, and that it just needed redecorating. I decided upon a full buildings survey anyway, as I didn't have a good feeling about the EA. When the survey was carried out it revealed several structural problems with the roof. I got a roofer in to have a look and he found the roof was sagging badly and had been patched with a piece of wood which was soaking wet and only just holding up. It then became clear to me why the bathroom ceiling had been recently replaced.

Basically the seller knew the roof needed replacing immediatley and rather than tell me straight, decided to keep it quiet in the hope that I got a basic survey done and it wasn't picked up upon.

So no, I don't give a flying f*ck if I mess the vendor around as they tried to stitch me up with a house that needed 8k worth of repairs.

Can we quit with the sanctimony now?

macaque_2

jonewer wrote: »

Its a business transaction.

The OP's first and only responsibility is to obtain the best possible price for the merchandise. No deal has been agreed until exchange.

Karma, integrity and all that are a pile of old cobblers.

Does this reflect the chav culture or am I insulting chavs by comparing you to them. You clearly have no integrity and your word is worthless.

jonewer

macaque wrote: »

Does this reflect the chav culture or am I insulting chavs by comparing you to them. You clearly have no integrity and your word is worthless.

What part of "business transaction" dont you understand?

The seller is trying to "sell" a product to the buyer who wants to "buy" the product at a mutually agreed price.

Negotiating the price has nothing whatsoever to do with integrity or karma or lack thereof. Its a business transaction and both parties are entitiled to persue the price that best suits their interests.

Why is this so hard to understand that you have to resort to ad hom mudslinging?

Zammo

macaque wrote: »

Does this reflect the chav culture or am I insulting chavs by comparing you to them. You clearly have no integrity and your word is worthless.

So macaque, if you had put 50k down on a house and you had watched prices drop significantly (Similar houses are now on at 10k less) for the 3 months it took to get to exchange, would you not want a reduction in price?

I reckon your integrity is worth 10k easy. Either that or you're the worlds first liar with great integrity.