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Exchanged contracts, then found out house was contaminated with asbestos

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Comments

  • eddddy
    eddddy Posts: 16,434 Forumite
    First Anniversary First Post Name Dropper
    The OP said....
    asbestosguy wrote: »
    The house is not mortgageable the surveyor siad, no one will lend on it so i cannot borrow the money to buy it no matter what the seller does i cannot go ahead, i will have to look into going bankrupt, the money i had went for the deposit, my tenancy is up at the end of this month so will have to move no matter what, things don't look good.

    So that suggests that the OP hasn't applied for a mortgage.

    The OP said....
    asbestosguy wrote: »
    I contacted the estate agents who contacted the seller,...

    So that suggests it's not an auction purchase (Auctioneers wouldn't get involved in this type of stuff, after a lot is sold).


    So... the thread is either a wind-up, or the OP is confused, or the OP is omitting some big aspect of what's happened.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    eddddy wrote: »
    So that suggests it's not an auction purchase (Auctioneers wouldn't get involved in this type of stuff, after a lot is sold).


    Our property local auctioneers is also a large EA chain. Would have thought that many are nationally.
  • eddddy
    eddddy Posts: 16,434 Forumite
    First Anniversary First Post Name Dropper
    Thrugelmir wrote: »
    Our property local auctioneers is also a large EA chain. Would have thought that many are nationally.

    You missed the point. No auctioneer (whether they are an EA or not) would get involved in this kind of stuff after the property is sold at an auction.

    They have their jobs to get on with. They won't want to unnecessarily get involved with people suffering from buyer's remorse.
  • jennhg88
    jennhg88 Posts: 253 Forumite
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    Got the popcorn ready waiting for the OP to come back and update us :rotfl:
  • SG27
    SG27 Posts: 2,773 Forumite
    eddddy wrote: »
    The OP said....



    So that suggests that the OP hasn't applied for a mortgage.

    .

    I read it as the surveyor had advised him that it was unmortgagable due to the new findings.

    As he says the deposit and solicitors fees took up all his savings it cant be a cash purchase and his solicitor would not have allowed exchange to take place without a mortgage offer.

    Hopefully the op will be back to fill in the gaps so people can advise accordingly.
  • happyandcontented
    happyandcontented Posts: 2,768 Forumite
    First Anniversary First Post I've been Money Tipped!
    The whole timeline seems skewed. Op please give us the information about what happened and when.
  • westernpromise
    westernpromise Posts: 4,833 Forumite
    I'm baffled too. If no valuation survey had taken place there would have been no mortgage offer. With no mortgage offer there'd have been no exchange.

    Unless there was a second survey undertaken after exchange that has now revealed all this.
  • haras_nosirrah
    haras_nosirrah Posts: 2,208 Forumite
    I am assuming he has got mortgage approved based on mortgage valuation. After exchange he spoke to neighbour who told him about the previous property so then got a proper survey done and now does not want to complete based on findings
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • diggingdude
    diggingdude Posts: 2,445 Forumite
    First Anniversary Name Dropper Photogenic First Post
    This is clearly a wind up, entertaining as it is
    An answer isn't spam just because you don't like it......
This discussion has been closed.
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