What Would You Do?

fc123

I 'm thinking take the 152k now too...but it's not my money...so easy to say.
Keep her interested though....you don't want her to find a better deal elsewhere.
OH, and don't be scared to post....lots of nice people on this board....

owitemisermusa

fc123 wrote: »

I 'm thinking take the 152k now too...but it's not my money...so easy to say.
Keep her interested though....you don't want her to find a better deal elsewhere.
OH, and don't be scared to post....lots of nice people on this board....

Just don't forget to bring your flak jacket (preferrably a bullet-proof vest with overlapping seams please - at least Type III), helmet etc.

Some people don't do nice (some don't know how or have the ability).

In short, don't take any thing to heart.

Good luck!

clobber_2

Well good luck.

I sold my house for a similar amount below asking (and this was in april last year) to a guy with no chain who was proceedable. I felt that was worth at least 5k in itself.

You are talking about 3k difference between what she is prepared to offer and what you are prepared to accept. I have to say, if it was me, it would be worth 3k to not have the hassle of being responsible for a rented property. It's not a lot of money in the great scheme of things.

lynzpower

my advice is in this economic climate please do not consider taking on further bridging debt, on a property you'll try to rent out, as a novice first time landlord - for the sake of 3 or 4k.

It will probably cost you that in terms of mantainence, insurances, legal advice, letting agents fees, F&F, wear & tear, your time, the taxmans time, learning about 100s of different regs and legislation and so on and so on! WHat if it stays vacant- or gets trashed by a tenant? Do you really want that sort of grief for the sake of 3k?? We are seeing landlords daily going to the auctions and the properties not selling, some people are in real dire straits. I would not recommend that sort of risk at the moment!!

Plus im not sure easy BTL finance is at the moment in any case....

Good luck

brit1234

I would of taken the £152K, any delay and the buyers are going to see the bigger falls in all the surveys in the next couple of weeks.

What you are doing now is chasing the market down and it will cost you a lot more in the long run.:exclamati

dopester

brit1234 wrote: »

I would of taken the £152K, any delay and the buyers are going to see the bigger falls in all the surveys in the next couple of weeks.

What you are doing now is chasing the market down and it will cost you a lot more in the long run.:exclamati

Got to agree. Your mind might melt when your next offer comes in at £70K.

These kind of 50% lower offers are already happening.

Kez100

I would have accepted it. I fear your mate is assessing the situation as it was not as it is, but then if he is the mogul, who am I to argue.

I also wonder if whatever you agree the survey will bite you back anyway. That is certainly what we are seeing on here more and more, although to be fair I think most have been new build.

Speckled_Egg

Sold today for £153k! Hurrah!!!
:j

I've agreed that this includes my share of the freehold (1/6th). I tried to push her on completion in 30 days but her mortgage is tied into the government key worker scheme so it may take between 60 and 90 days. We've agreed to move either up to the end of August or from November as it will just cause me too much stress prior to the wedding. As advised previously, I've said no gazundering allowed whatsoever or it's all off and she is happy with this.

Thanks to all of you, for all your help. You have made some very valid points and I realise now that in the current market conditions this is a good offer. I also had a moment of clarity this morning when I remembered what my ex-boyfriend had said when I mentioned saving for a bigger deposit and delaying buying my current flat. He said, "House prices are going up faster than you can save so you just need to bite the bullet and get on with it!" I can't stand the bloke now but he was so right and I realised I was now in a similar situation but in reverse.

So, the plan now is to move to my Nan's bungalow, pay a peppercorn rent, stash the money in the bank, save like loonies, get married, buy a lovely family house at a fantastic price, have babies and live happily ever after!
:beer:

kj*daisy

Good news, but in your position I would complete by August or otherwise by November prices may well be much lower and she may gazunder (whatever you may have agreed). If you havn't completed by August and you have a property to move into then you do your moving bit well before the wedding and leave the flat empty for her to move into when it completes, rather than wait until November
Good luck.

Speckled_Egg

Thanks kj*daisy

Yes, you're right. I did initially say I wanted to complete within 30 days so everyone is aware that I'm not prepared to mess about. She seems confident that she can push it through and my solicitor is a friend of my boss so I have some leverage on him.

I'm a PA so I'm used to nagging people relentlessly!

:rotfl: