Buyers surveyor

grayson

MikeJXE said:

grayson said:

The buyer is a builder who rents property. The surveyor came round a week ago and said he would be surprised if house is down valued. However, received this from buyer. 

Bank upheld price with conditions

A LTV of 70% instead of 75%

Retention of lending until key works are completed.

I have no idea what key works as house is in good repair. 

Is this normal practice for lenders?

Do you know this to be a FACT ?

The buyer could be telling you a pack of lies to get the price reduced

AFAIK they don't hold all the monies in retention until work is complete they hold enough to cover the work. 

You say the house is in good repair, are you being honest about that ? 

Yes ? so you are being taken for a mug then 

Buyer has not sent us report. Just what he says.

youth_leader

I ended up going to auction grayson - and unfortunately the highest bid was from this man, I had to accept my freedom from the worry of maintaining a listed building was priceless and it did give me just enough to buy another small place.    Even then he messed the auctioneer about, at first he asked if his deposit was 'refundable',  and then wanted eight weeks rather than the four I'd signed up for.  They couldn't get him across the line until four days later, he said he had to pass it to his 'underwriters'.  He's now spending about £500K on it looking at the proposed planning permission on line.  Good luck to him.  

MikeJXE

grayson said:

MikeJXE said:

grayson said:

The buyer is a builder who rents property. The surveyor came round a week ago and said he would be surprised if house is down valued. However, received this from buyer. 

Bank upheld price with conditions

A LTV of 70% instead of 75%

Retention of lending until key works are completed.

I have no idea what key works as house is in good repair. 

Is this normal practice for lenders?

Do you know this to be a FACT ?

The buyer could be telling you a pack of lies to get the price reduced

AFAIK they don't hold all the monies in retention until work is complete they hold enough to cover the work. 

You say the house is in good repair, are you being honest about that ? 

Yes ? so you are being taken for a mug then 

Buyer has not sent us report. Just what he says.

EXACTLY so you need proof of work required 

grayson

MikeJXE said:

grayson said:

MikeJXE said:

grayson said:

The buyer is a builder who rents property. The surveyor came round a week ago and said he would be surprised if house is down valued. However, received this from buyer. 

Bank upheld price with conditions

A LTV of 70% instead of 75%

Retention of lending until key works are completed.

I have no idea what key works as house is in good repair. 

Is this normal practice for lenders?

Do you know this to be a FACT ?

The buyer could be telling you a pack of lies to get the price reduced

AFAIK they don't hold all the monies in retention until work is complete they hold enough to cover the work. 

You say the house is in good repair, are you being honest about that ? 

Yes ? so you are being taken for a mug then 

Buyer has not sent us report. Just what he says.

EXACTLY so you need proof of work required 

Does the report get sent to our solicitor? 

MikeJXE

Your solicitor could ask for it 

If it exists 

MikeJXE

A point to remember 

You don't just need any report you need thee report

A builder could get a mate surveyor to write anything he said

The best report would be from the building society he is using 

Trust no one

grayson

Solicitor has requested report as buyer has no intention of sending it to us. He only wants to discuss it over the phone.

MikeJXE

Discussion over the phone is because he's a good negotiator and expects to knock you down. 

I have never dealt with a buyer over the phone, always let my agent sort the sale thats what they are paid for.