PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Is the sellers estate agent BS'ing me?

Options
13»

Comments

  • lfc321
    lfc321 Posts: 710 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Update

    The estate agent told me the first buyer didn't give a reason and the second buyers mortgage was refused due to the EWS1. A quick google search indicates this is about fire hazards and wall structure, most likely cladding.

     


    That's very useful info for you to decide how/whether to proceed.
  • SneakySpectator
    SneakySpectator Posts: 326 Forumite
    100 Posts Name Dropper
    lfc321 said:
    Update

    The estate agent told me the first buyer didn't give a reason and the second buyers mortgage was refused due to the EWS1. A quick google search indicates this is about fire hazards and wall structure, most likely cladding.

     


    That's very useful info for you to decide how/whether to proceed.
    Yup, I just asked him to send over a copy of the report along with the associated survey which I will then forward to my broker. If there's plans to fix it, I'm all for buying it. If there's no plans to fix it, I'm not touching it. 

    It's only a 6 story building so in the real world it's probably not a "grenfell in the waiting" type of deal but reselling is going to very hard if this is an issue that isn't going to be fixed.  
  • Murphybear
    Murphybear Posts: 7,977 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Think I would focus on why 2 buyers have pulled out so quickly...
    Yes, surely "a nice flat" for 125k would have hundreds of offers with the housing shortage that we keep hearing about?
    I think the real issue is a shortage of affordable housing.  
  • RHemmings
    RHemmings Posts: 4,894 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Update

    The estate agent told me the first buyer didn't give a reason and the second buyers mortgage was refused due to the EWS1. A quick google search indicates this is about fire hazards and wall structure, most likely cladding.
    That's a more useful response than any I ever got. At least you are now aware of a potential problem and can look into it further. 
  • ReadySteadyPop
    ReadySteadyPop Posts: 1,631 Forumite
    1,000 Posts Photogenic First Anniversary Name Dropper
    Update

    The estate agent told me the first buyer didn't give a reason and the second buyers mortgage was refused due to the EWS1. A quick google search indicates this is about fire hazards and wall structure, most likely cladding.

     


    Run away, look at something else, or make a very low offer.
  • ReadySteadyPop
    ReadySteadyPop Posts: 1,631 Forumite
    1,000 Posts Photogenic First Anniversary Name Dropper
    Think I would focus on why 2 buyers have pulled out so quickly...
    Yes, surely "a nice flat" for 125k would have hundreds of offers with the housing shortage that we keep hearing about?
    I think the real issue is a shortage of affordable housing.  
    So this flat should drop it`s price more?
  • SneakySpectator
    SneakySpectator Posts: 326 Forumite
    100 Posts Name Dropper
    Update

    The estate agent told me the first buyer didn't give a reason and the second buyers mortgage was refused due to the EWS1. A quick google search indicates this is about fire hazards and wall structure, most likely cladding.

     


    Run away, look at something else, or make a very low offer.
    Yeah I think I'm going to look elsewhere. 
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.