How much to offer on property which needs complete refurbishment

sonub4ualt

SuseOrm said:

Congratulations I hope it all goes really smoothly for you and you enjoy your new house

Thanks @SuseOrm

sonub4ualt

TheJP said:

sonub4ualt said:

Hi all, just an update I have matched my offer to vendor’s expectations at £440k and had the offer accepted. Massive thanks to all who contributed to this thread, appreciate your time and feedback.

Kumar

Congrats! Now the hard part, convincing the wife to live with her sister in law for a number of months. Wishing you the best with the refurb and your new home. You should be able to have a nice family holiday from the change of £35k 

@TheJP hopefully everything should go well, now time to hunt for bargain deals to pile up required materials and getting quotes for what I know needs changing, most importantly will order a structural survey to highlight any major issues.

TheJP

sonub4ualt said:

TheJP said:

sonub4ualt said:

Hi all, just an update I have matched my offer to vendor’s expectations at £440k and had the offer accepted. Massive thanks to all who contributed to this thread, appreciate your time and feedback.

Kumar

Congrats! Now the hard part, convincing the wife to live with her sister in law for a number of months. Wishing you the best with the refurb and your new home. You should be able to have a nice family holiday from the change of £35k 

@TheJP hopefully everything should go well, now time to hunt for bargain deals to pile up required materials and getting quotes for what I know needs changing, most importantly will order a structural survey to highlight any major issues.

Go well Kumar i really hope you can at least turn around the main points in good time so you can move in. Come back and let us know how it goes.

Doozergirl

sonub4ualt said:

Hi all, just an update I have matched my offer to vendor’s expectations at £440k and had the offer accepted. Massive thanks to all who contributed to this thread, appreciate your time and feedback.

Kumar

Congratulations, I hope it all runs smoothly from here! 

sonub4ualt

sonub4ualt said:

Hi all, just an update I have matched my offer to vendor’s expectations at £440k and had the offer accepted. Massive thanks to all who contributed to this thread, appreciate your time and feedback.

Kumar

Hi all, 

Need some advice on what would be the likely cause to delay Memorandum of Sale by the EA. The offer was accepted by vendor(as per EA) and the property was listed as Sold STC on the day. The next morning the agent changed the status to Under Offer, when I called the agents they informed that the seller is yet to decide on the solicitor as the agents provided some quotes. We were told that once the solicitor details are confirmed, the memo would be issued. We provided every document including proof of funds.

I chased them last friday to check what’s happening. The agent again told us they are still deciding and asked us to wait for another couple of days.

Our buyers have initiated surveys and we have one booked for our property from the buyers lender tomorrow. 

Meanwhile, there were other properties which we missed thinking we had our offer accepted so may not be worthwhile looking for others.

Any suggestions on whether the vendor is looking for more offers, chain free, or cash buyers. Also shall we go with plan B to keep searching for other properties and put offers.

thanks
kumar

Noneforit999

Conveyancing costs can vary so shopping around for the best price is not unreasonable but from my experience, I got three quotes within 48 hours so it does sound like the seller is stalling for some reason.

Go back to the EA and tell them it shouldn't take 2 weeks for a vendor to instruct a solicitor and advise if you do not hear back by close of play tomorrow, you will be moving on with your search.

sonub4ualt

Noneforit999 said:

Conveyancing costs can vary so shopping around for the best price is not unreasonable but from my experience, I got three quotes within 48 hours so it does sound like the seller is stalling for some reason.

Go back to the EA and tell them it shouldn't take 2 weeks for a vendor to instruct a solicitor and advise if you do not hear back by close of play tomorrow, you will be moving on with your search.

Thank you @Noneforit999 for your precious advice, I did exactly the same and the EA sent our memorandum of sale yesterday. Have arranged for a survey this week.

Thank you once again @Noneforit999