Buying a little piece of Middle England; Manifesting my way to mortgage free.

skint_spice

That’s awful, I really hope this gets resolved soon for you.

HotDog2020

That is terrible of them when you are so far down the line, shame on them. Wishing a positive outcome for you. 🧚‍♂️

redofromstart

I hope you can find a solution. It may be worth telling the person you are buying from in case he is willing to offer to take some of the pain rather than have the chain collapse. 

debtfreewannabe321

Thanks all, I appreciate the support.
I've had such a bizarre weekend, after we saw the EA I was just in a spin with what to do.
Going down to that price is a big fat no.

I went on RM thinking maybe the EA's have all overvalued our house and panicking. There are other 3 bed semis in the area for £20-50k less than ours but they are on average 80 sqm and ours is 140 sqm. With wraparound gardens on corner plot and large double garage...I didn't think they were comparable but I wonder if our buyer is having buyer's remorse and seeing these prices and thinking ours should be the same. Most of the other local houses were small new builds (which i guess don't need any work as are new and have those new roofs she's wanting) or they are do-er uppers needing 20-30k spending on them. i only saw one comparable to ours and it was 15k more which was the top price we were advised to list at.... I am so confused and don't know what to do.

I spent a good long time thinking about standing firm as we need the money going forward to buy in the city as it is more money there. And then I spent a good long time thinking about going back to the mortgage company and borrowing more but as DP says we only just hit that 50% LTV, borrowing more sends us back into the higher interest rate we were trying to avoid, and well, why should we?
I thought about a flat no, but how long would it take to sell again? I really want the house we have offered on.
Oh and we spent a good long time thinking about every scenario in between. My brain hurts today.

We are leaving it to the EA but we will chase it up before long. If they do not accept what we are offering (and that is only because they have us over a barrel now because we want to move soon ) then we will put the house back on the market and have to risk losing our house we were buying going forward. C'est la vie, what will be will be. I have to let it go now. I did a long surrendering meditation which helped calm me for most of Sunday and I think I will go meditate again in a bit. 

After meditating yesterday morning DP & I took a drive to the city and had a wander around our favourite bits and had something to eat. Not that it was budgeted for, and not that we cared at that point. We've gone without for months now to save that EF and HMF and effectively it could all be gone in one go on people who are being greedy and cheeky- I think.

Today will be a NSD. First of this month I think.
DS2 has his birthday this week but he's obviously at his dad's house and we celebrated early, that's always a sad time for me as I've not spent a birthday with him since he was 8 or 9....I am basically a right misery at the moment. Need to shift this energy and get back to my happier self. And be okay with whatever comes from this week's negotiations. 

Okay off to hang the washing out, at least it is sunny so can dry washing and walk the dog.
Oh and my electric/gas was 29 quid cheaper than I budgeted for.
And the item I bought on buy now pay later looked like it had come from a sweat shop, not a 'handmade in India' as it was supposed to....possibly a sweat shop in India but I don't support that so a strongly worded email was sent off, I will need to box that back up and send back and that is at least another £33 in the budget now that I had put aside for it  
So a fifty quid saving right there. (will pay for our overspends yesterday)!

debtfreewannabe321

£20.37 cashed out for surveys 

I went out to DP in the office and he was penning an email to our buyers............I was like, ummm, what? Why isn't the EA doing this. He'd spoked to her on the phone that morning and we had been asked to write the email ourselves to them. What on earth are we paying for then...a listing on RM and that is it? I got him to send it to me as he was going over and over it and getting annoyed and wasting his working day. I put logic brain on, took emotion out, finished it off and sent it. Feel it's a bit cheeky really but never mind it is done. We've sent to EA and she will forward on to them. I made sure to put a bit in about, we will be sorry if they don't want to proceed (we will be annoyed if they don't over such petty things) and we also agreed to some works and clearly stated the other works didn't need doing (and even have proof they don't if they had thought to check paperwork with their solicitors!)....tried to remove all emotion as they had written theirs in very business like format. Matched the energy basically.
We shall see. We have held back any money off at the moment and offered to do works out of our pocket for full asking price. Let's see.....

Washing is hung out. I have had a fruit bowl for breakfast. Think I will walk the dog to the cricket pitch for some fresh air and take my mind off everything. Making some subway rolls for dinner later with salad potatoes. Will be yummy and perfect for this weather.

debtfreewannabe321

redofromstart said:

I hope you can find a solution. It may be worth telling the person you are buying from in case he is willing to offer to take some of the pain rather than have the chain collapse. 

Our EA said the same as you. However we went round his house (hopefully our new house soon) and he admitted he had to up the offer on his house he was buying and he had to put it on a CC. He wasn't allowed any more on his mortgage. He is hoping to downsize but because of a relationship breakdown he cannot just port the mortgage over he has to take one out on his own and he cannot borrow as much any more. So to be able to buy the house he wanted he had to borrow on CC there is no way he would be able to absorb that amount of money. They are just being plain greedy in my opinion. We listed it at one of the lowest valuation amounts to sell quickly so as soon as they get the keys they have already made money- we could have put it on for 15k more but chose a quick sale over this. so for them to knock another 7.5k off we feel is just really not on. We have stated we want an answer asap because we may have to relist it. It's all really annoying and upsetting.

ladybird1106

Sending virtual hugs 
love🐞

beanielou

Whit a carry on. 

debtfreewannabe321

Thanks all, I appreciate the support...I haven't told many in real life to be honest. 

So after penning that email earlier the sales negotiator managed to get hold of our buyer. She is notoriously hard to get hold off and keeps putting people off on the phone as is often busy. So I think EA basically stated we want an answer before Weds otherwise we will have to relist - which we don't want to do- but we can't meet her request. Long story short, the buyer obviously being FTB was worried by all the stuff on the survey. Understandable- we have read some surveys that appear really quite scary but actually when you break down the language used it's all ifs and maybes. So the sale is back on. For now. At full asking price. AND we will do the smaller jobs they wanted done (smaller as in not a whole new roof but they may still be quite expensive to us). So our budgeted bonus money will have to be used. AND we pray it is enough so as not to drain the EF which we may need when we move.
We had to relay this to the solicitors so they can amend the contracts. Whilst we were there she went over the enquiries for us from our buyer. And also some of the ones they had raised for our purchase....so the enquiries, on one end, touch wood, are done! And we have put some stress on the fact that we would just like to get to exchange of contracts now ASAP before any more wobbles occur. 
I am drained. As is DP. I pray we get to exchange with nothing else cropping up now as I don't think I can take much more. I want to move. It sounds like our buyers do want our house, EA thinks they perhaps are either just naive or trying their luck and they don't foresee any new issues cropping up....we will see though. 
Had our NSD. We already went into town and didn't buy anything. I want to try and make up as many NSD as possible really now to cushion the DIY we need to do. Our neighbour has kindly offered up some specialist tools to DP to use to save us renting them. I thought that was really kind of them. And he's offered some solutions on things we weren't sure on what to do for the best. Sometimes it's very handy having so many tradesmen around us  

We have another removals company coming out in the morning. I have told DP he can do that one as I have a dentist appointment. DP is also on holiday till Friday from tomorrow. We planned to do some nice things together but it looks like our week will be filled once again with DIY and painting....nevermind. 

slm6002

Glad you have an answer and I am sure the small DIY bits will be worth it in the end. Keeping fingers crossed the rest of the move goes smoothly