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Post by f00b_inc on Feb 5, 2022 7:13:35 GMT
Well we managed to line up a buyer and have had an offer accepted. Now just crawling through the process with the solicitors. Fingers crossed we are looking at an April/May move date.
The real problem now is lining up childcare in the direction we are moving to. Fuck me this is hard work!
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Post by Zomoniac on Feb 5, 2022 15:08:04 GMT
It’s a weird place, proper Jekyll and Hyde town. By day it’s like your idyllic English village, old ladies eating cream tea. At night it has a complete transformation, the McDonald’s in the town has three bouncers outside and I’ve seen way more street brawls there than anywhere else I’ve been.
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Post by Zuluhero on Feb 5, 2022 15:56:23 GMT
So I've been trying to get some quotes for a garage conversion.
The house we bought already was part converted; so the door has been removed, bricked up and has windows. The back has sliding doors out into the garden. It has a waste drain and soil pipe, it's own consumer unit/fuse board as well as hot and cold pipes and heating to/return pipes as well.
What we want is a small toilet cubicle, utility space and the rest of it being a small 2nd sitting room.
Quote came back as a very specific £10,050. Does that sound good? When doing research I was expting to pay around 7,500, especially as its already half done.
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technoish
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Post by technoish on Feb 5, 2022 19:04:25 GMT
Depends where it is, and I would expect you to always pay more than you expect...
Get three quotes etc.
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Post by Danno on Feb 5, 2022 23:19:12 GMT
Can we do renting in here or nah
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Post by dfunked on Feb 5, 2022 23:20:51 GMT
Only if you call your estate agent a cunt... Which is a given really, so fill your boots.
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Post by Danno on Feb 5, 2022 23:23:42 GMT
Only if you call your estate agent a cunt... Which is a given really, so fill your boots. Does that even need to be said?
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Rich
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Post by Rich on Feb 18, 2022 15:43:57 GMT
Literally just made an offer on a house. Already wondering if we should have offered more.
I hate this.
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dmukgr
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Post by dmukgr on Feb 18, 2022 16:09:17 GMT
Literally just made an offer on a house. Already wondering if we should have offered more. I hate this. Depending on any storm damage, you may be wishing you had offered less. (good luck fella)
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Rich
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Post by Rich on Feb 18, 2022 16:22:55 GMT
Well yes, might have to make sure the house is still standing should we get it.
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dmukgr
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Post by dmukgr on Feb 18, 2022 16:29:44 GMT
One thing I didn't know until I recently bought me current place is that you need to get insurance for as soon as you exchange, rather than complete - that nearly caught me out.
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Post by dfunked on Feb 18, 2022 16:34:09 GMT
Really? Always thought it was completion, otherwise you'll have the nightmare of two different policies being live for the property and neither insurer wanting to touch it if anything happens.
/edit Damn... For real. TIL I'm a fool.
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Post by freddiemercurystwin on Feb 18, 2022 18:38:36 GMT
Yep exchange, pretty sure I overlooked that last time too. 😀
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technoish
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Post by technoish on Feb 18, 2022 18:43:57 GMT
Mortgage provider won't let you go ahead without so not like you overlook it.
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Post by freddiemercurystwin on Feb 18, 2022 18:48:38 GMT
Respectfully Sir, I beg to differ.😀
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Post by Sarfrin on Feb 18, 2022 19:27:54 GMT
The only question "Honest John's 5 Minute Mortgages" asked was "Do you want to see your wife and child again?"
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Post by Dougs on Feb 18, 2022 20:41:38 GMT
Solicitor usually asks to see insurance, so if they didn't, you got away with it!
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Post by Honk If You're Horny? on Feb 19, 2022 6:58:47 GMT
I had an offer accepted on a new place. Great condition, location and good price. Set to exchange in the next few days.
Got the management pack from my lawyers, about 60 PDF documents with the usual stuff, fire safety reports, enquiries, works receipts, searches etc so far all good.
Except for the folder marked Redevelopment of XXXX Road. Which has 1000+ docs/pages regarding the plans to build a 6 and 8 story apartment block next door.
Now I hadn't been aware of this development, no one had raised it during viewings or afterwards, nor is there any signage or indication that the existing property is to be demolished or become a building site.
My problem is that the property I offered on sits on the top (3rd) floor of a smallish building. Not only do the windows face the new development but the access road for the potential site runs adjacent to my building.
So I am facing approximately 3 years (estimated completion) of being next to a building site. Several months of demolition, piling work and about a year of framework assembly. Not to mention the lorries, trucks and beep beep beep of industrial vehicles Mon to Sat.
I'm supposed to complete next week, I'm leaning towards pulling out of the sale. I work from home 4 days a week and being next to a building site would be awful.
However it's a great property and once completed my immediate view would change from mechanics garage and some brick buildings to a nicely designed green space with tree's and garden area *The actual apartments are further back so no concerns about privacy or light reduction. Plus they would be planting at the new entrance and nearby so the surrounding area would look much nicer with a few tree's
I genuinely have no idea what to do. Endure building work for years and potentially have a gain in property value. Or start all over again after months of searching, plus all the faff of a new mortgage, legal fees etc.
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Post by freddiemercurystwin on Feb 19, 2022 7:11:43 GMT
Do the obligatory pros and cons list.
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dmukgr
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Post by dmukgr on Feb 19, 2022 9:36:30 GMT
That’s is a tricky one. Are you sure it will make it go up in value as the access road could be busy?
The fact the the agent and seller effectively hid it from you is a warning.
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Post by Dougs on Feb 19, 2022 10:38:41 GMT
I would be thinking long and hard about that. As you say, red flag that it wasn't mentioned or picked up sooner.
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Post by Honk If You're Horny? on Feb 19, 2022 11:24:11 GMT
Access will be the biggest issue post completion, the road is already congested and only 2 lanes. However the current site is just one story industrial buildings and car parking, so although there will be bog standard new build flats there'll also be landscaping and greenery which "should" make it a bit more green and appealing.
To be fair to the seller and agent it's still pending approval so there's a chance they weren't aware, I've spent all morning reading the planning permission docs on the council website and from what I can it's still a a few months off getting the green light.
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dmukgr
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Post by dmukgr on Feb 19, 2022 11:36:31 GMT
Things always get signed off eventually- it’s inevitable as it makes the council more cash.
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Post by MysteryLamb on Feb 19, 2022 11:45:03 GMT
Things always get signed off eventually- it’s inevitable as it makes the council more cash. This. If it gets blocked they will just come back with tweaked plans until accepted.
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Post by BurnoutJunkie on Feb 19, 2022 18:05:11 GMT
So all was going swimmingly for my house purchase until earlier this week. The private survey I had done came out well, but then the bank's valuation result came. They valued it at £20k below the sale price, and they said they'd only offer a 90% mortgage on the valuation price and not the offer price...so I'd have to make up the rest of the cost myself or renegotiate. If I stuck to the original sale price I would've wiped out all of my savings and have basically nothing left to furnish etc.
I went back to the agent and told them to ask the sellers to meet me halfway, reduce the sale price by £10k - thankfully they accepted. I would've tried the valuation price, but they would've relisted at that price. Plus I'm a good bet cos I don't have a chain.
Please...no more stressful hold-ups!!
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Post by salaman on Feb 19, 2022 19:05:22 GMT
I had an offer accepted on a new place. Great condition, location and good price. Set to exchange in the next few days. Got the management pack from my lawyers, about 60 PDF documents with the usual stuff, fire safety reports, enquiries, works receipts, searches etc so far all good. Except for the folder marked Redevelopment of XXXX Road. Which has 1000+ docs/pages regarding the plans to build a 6 and 8 story apartment block next door. Is it an option to buy it and then rent it for 3 years before moving in yourself?
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Post by Zomoniac on Feb 20, 2022 21:14:15 GMT
Both my purchases I got insurance for completion and was never told to do otherwise. Weird.
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Post by Zomoniac on Feb 20, 2022 21:15:02 GMT
Both my purchases I got insurance for completion and was never told to do otherwise. Weird. Edit: that said the first purchase we exchanged and completed same day so that would make sense. This one we didn’t though, our insurance started on completion day.
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Post by muddyfunster on Feb 22, 2022 10:25:57 GMT
Access will be the biggest issue post completion, the road is already congested and only 2 lanes. However the current site is just one story industrial buildings and car parking, so although there will be bog standard new build flats there'll also be landscaping and greenery which "should" make it a bit more green and appealing. To be fair to the seller and agent it's still pending approval so there's a chance they weren't aware, I've spent all morning reading the planning permission docs on the council website and from what I can it's still a a few months off getting the green light. A big one to consider is the impact on parking and traffic in the road. Too often councils let developers build a block of flats big enough for multiple adult occupants but with only one (or no) assigned parking space each. Upshot is a massive increase in on road parking and congestion in the vicinity. Even if the planning gets blocked it's likely someone else will try. I think you want to at least ensure you feel you are getting a 'great deal' in return for the risk of disruption. Id be tempted to reduce your offer in light of this new information before walking away.
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Post by Honk If You're Horny? on Feb 22, 2022 17:34:51 GMT
So I went back and forth on this a lot, it's a great property which they have really looked after, including new boiler and upgraded the underfloor heating. I had a good price initially at 10k under asking, a property underneath (also 2 bed though a little bigger) went for 30k over what I paid. I spent a lot of time looking at the sales data including what the current owners paid 9 years ago.
It's a shit thing to do a week before looking to exchange (I only got the development details from the lawyers last week) but I advised I was going to pull out of the sale and apologised for the stress etc. A bit of back and forth and we took another 12k off, mixed emotions, as the sellers have been great (offered furniture for free etc) so feel a bit bad about the stress and financial hit but of course I'm happy with the saving, though filled with trepidation about the noise.
My approach will be to go from full time WFH to at least 4 days in the office a week. After several years of home working I really need to be back in the office, free gym and not paying for electricity and heat is OK with me. Plus I will spend 4-6 weeks working from NZ.
Noise, dust, parking will all be unbearable but I'm thinking longer term and hoping that in 2-3 years it's all worth it.
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