should we pull out?

sandraa_2

We receive a letter from solicitor today saying that I would nt be able to teach on the premise ( i am a freelance tutor) as there is a "no trading " convenant.

Anyone know anything about that?

Anyway: WE ARE PULLING OUT. I ll make the phone calls monday.

:-)

Sandra

Jorgan_2

Heres hoping the vendor isn't a user on here, otherwise they've just found out their buyer has pulled out via the internet. Why not ring the agent today rather than wait until Monday?

sandraa wrote: »

Here is the rightmove link for the property in question.

http://www.rightmove.co.uk/viewdetails-19346546.rsp?pa_n=1&tr_t=buy

We receive a letter from solicitor today saying that I would nt be able to teach on the premise ( i am a freelance tutor) as there is a "no trading " convenant.

Anyone know anything about that?

Anyway: WE ARE PULLING OUT. I ll make the phone calls monday.

:-)

Sandra

blimeyted

There simply won't be a "crash". People are talking themselves into the fear of a crash right now. Don't trust the media. "House prices crash" makes a much better story than "House prices stable" for them. They tailor the angle to suit themselves - and I know this from personal experience.

As for pulling out. Personally I hope that decision comes back to bite you. Consider the anguish you have put the seller through. You should've done the right thing and told them you were having second thoughts a LONG time ago.

Buyers like you are responsible for any apparent property scare. A new law should be passed that means buyers should have to place a 1% deposit on agreeing a sale to protect the seller.

I don't suppose you have any intention of paying off his legal fees do you?

It'll soon be a seller's market once again when landlords realise they can start putting rents up sky high to buyers who think they can play it safe by renting.

ruggedtoast

sandraa wrote: »

Here is the rightmove link for the property in question.

http://www.rightmove.co.uk/viewdetails-19346546.rsp?pa_n=1&tr_t=buy

We receive a letter from solicitor today saying that I would nt be able to teach on the premise ( i am a freelance tutor) as there is a "no trading " convenant.

Anyone know anything about that?

Anyway: WE ARE PULLING OUT. I ll make the phone calls monday.

:-)

Sandra

If you want to run a business (officially) from your house you have to apply to the council to have the designation changed from residential to commercial. If youre not trading goods or having things delivered this usually isnt a problem.

It sounds like any changes are prohibited on this property though so if your business did really well and you wanted to become VAT registered and insured for on premises clients etc then you wouldnt ever be able to.

MUDGUTS

blimeyted wrote: »

There simply won't be a "crash". People are talking themselves into the fear of a crash right now. Don't trust the media. "House prices crash" makes a much better story than "House prices stable" for them. They tailor the angle to suit themselves - and I know this from personal experience.

As for pulling out. Personally I hope that decision comes back to bite you. Consider the anguish you have put the seller through. You should've done the right thing and told them you were having second thoughts a LONG time ago.

Buyers like you are responsible for any apparent property scare. A new law should be passed that means buyers should have to place a 1% deposit on agreeing a sale to protect the seller.

I don't suppose you have any intention of paying off his legal fees do you?

It'll soon be a seller's market once again when landlords realise they can start putting rents up sky high to buyers who think they can play it safe by renting.

This lady has done nothing wrong other than take a safe option, why try to make her feel guilty?

A$$wipe

blimeyted

I'll tell you what's wrong.

PUBLISHING details of the house within this discussion forum so complete strangers can be aware of private details and then announcing to this forum her last minute plans BEFORE having the courtesy of informing the seller.

At least she could've had the decency to keep any details confidential.

(Kindly refrain from childish remarks, please Mudguts.)

Bungarm2001

Thanks blimeyted...you've just said exactly what I have been thinking.

I don't think the OP has the slightest idea of what she has done here. Actually putting a link to the house on here without at least telling the agent, let alone the vendor of her possible intentions is bordering on despicable, but somehow I can forgive her (slightly) because she is obviously very new to the property 'game.'

I hope she doesn't live to regret it...what goes around usually comes around...

caveatvenditor

You absolutely must NOT buy. Prices are going to fall quite significantly for the next 5 years. We are coming to the end of a credit bubble and its going to disasterous. Tjhe money is longer available to support current prices. They are going to revert to the mean. The banking system is even more insolvent that is usually is (banks are always insolvent). Rates are going to have to go through the roof for banks to repair their capital bases - BoE or no BoE.

Check out http://www.housepricecrash.co.uk

Some nutters - but some very good analysis that you wont find anywhere else - especially not on this board.

motch

blimeyted wrote: »

There simply won't be a "crash". People are talking themselves into the fear of a crash right now. Don't trust the media. "House prices crash" makes a much better story than "House prices stable" for them. They tailor the angle to suit themselves - and I know this from personal experience.

As for pulling out. Personally I hope that decision comes back to bite you. Consider the anguish you have put the seller through. You should've done the right thing and told them you were having second thoughts a LONG time ago.

Buyers like you are responsible for any apparent property scare. A new law should be passed that means buyers should have to place a 1% deposit on agreeing a sale to protect the seller.

I don't suppose you have any intention of paying off his legal fees do you?

It'll soon be a seller's market once again when landlords realise they can start putting rents up sky high to buyers who think they can play it safe by renting.

Never underestimate the power of herd mentality, as you probably know
from personal experience, and can you please tell me an inflated
asset bubble in history (going back several hundred years if you like)
which hasn't resulted in a crash of some degree?

mr.broderick

dannyboycey wrote: »

Dream on...

The voice of someone who has recently bought, trying to convince themselves it'll all be ok?

Interesting post, wasn't nelly calling for prices to come down the other week?

I'm sure he'll be ok if they drop 20% which is a big drop, i'm sure nelly will survive, you see he's a survivor. He wanted to buy a house for him and his family so he did, he put a good deposit down and is now in the process of doing it up to his standards, if you don't/can't buy now danny that's fine and if you want to wait to see if they come down considerably that is your perogative but do not make sweeping statements about a situation you know nothing about. He's bought a home now and if you read his other threads he's happy. I'd rather buy and be happy in my home than be unhappy continually trawling the internet justifying to yourself that it is not the time to buy a home now. Life is short danny, don't let it pass you by and for the record i bought another house last year and went totally against the majority but hey what the hell if they drop 20% our perfect final house will also drop 20% so not much of a problem there. Be happy and i still fancy united for the title despite the linesman today giving chelsea a glimmer of hope.