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Is buying now madness?


This Time

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We're feeling like we dodged a bullet now  - much better this way than in a few weeks when we'd actually spent any money. We suspect now that the flat is probably a mess of bodge jobs and cheap fixes under the newly renovated surface - the sort of people that entertain gazumping for the sake of a few k are probably the sort of people who cut corners in non-visible areas. The place does have a few wonky wall sockets and they seem to have replaced the window surrounds but re-used the double glazing units - we should have walked away really but the place was pretty much perfect for us. 

We're very annoyed though that we were most of the way through the mortgage application and as part of that process had to get another agreement in principle which might mess with our credit scores. 

We're going to avoid getting over-invested in the future - this has been a good learning experience. We're probably going to go for some lowball offers on a few places and see if anyone bites. If not, we'll probably leave it a few months. My health has been improving the last couple of weeks so things don't seem so urgent. Three weeks ago I was managing about 300 very slow steps per day and honestly thought I was near death. These last few days I've been doing 700-1,000 steps per day at a much more normal speed.

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17 hours ago, This Time said:

We're feeling like we dodged a bullet now  - much better this way than in a few weeks when we'd actually spent any money. We suspect now that the flat is probably a mess of bodge jobs and cheap fixes under the newly renovated surface - the sort of people that entertain gazumping for the sake of a few k are probably the sort of people who cut corners in non-visible areas. The place does have a few wonky wall sockets and they seem to have replaced the window surrounds but re-used the double glazing units - we should have walked away really but the place was pretty much perfect for us. 

We're very annoyed though that we were most of the way through the mortgage application and as part of that process had to get another agreement in principle which might mess with our credit scores. 

We're going to avoid getting over-invested in the future - this has been a good learning experience. We're probably going to go for some lowball offers on a few places and see if anyone bites. If not, we'll probably leave it a few months. My health has been improving the last couple of weeks so things don't seem so urgent. Three weeks ago I was managing about 300 very slow steps per day and honestly thought I was near death. These last few days I've been doing 700-1,000 steps per day at a much more normal speed.

As I mentioned on another thread, lowball offers on stale stock can get results right in the dead of winter long before the whiff of spring selling period. Might have dodged a bullet in many ways, if you are hopefully on the mend then the current place you like may still be viable, a house move is immensely stressful and hard work, may be for the best for your recovery that this one fell through.  Nearly bought a leasehold flat once before we found out at the search stage that the agent had lied/misinformed from the start about ownership of vaults associated with the main flat. When we pulled out the dumb fuck queried whether that meant the deal was off, too right it is matey, it was not what was as described.

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17 hours ago, This Time said:

We're feeling like we dodged a bullet now  - much better this way than in a few weeks when we'd actually spent any money. We suspect now that the flat is probably a mess of bodge jobs and cheap fixes under the newly renovated surface - the sort of people that entertain gazumping for the sake of a few k are probably the sort of people who cut corners in non-visible areas. The place does have a few wonky wall sockets and they seem to have replaced the window surrounds but re-used the double glazing units - we should have walked away really but the place was pretty much perfect for us. 

We're very annoyed though that we were most of the way through the mortgage application and as part of that process had to get another agreement in principle which might mess with our credit scores. 

We're going to avoid getting over-invested in the future - this has been a good learning experience. We're probably going to go for some lowball offers on a few places and see if anyone bites. If not, we'll probably leave it a few months. My health has been improving the last couple of weeks so things don't seem so urgent. Three weeks ago I was managing about 300 very slow steps per day and honestly thought I was near death. These last few days I've been doing 700-1,000 steps per day at a much more normal speed.

You want to try and avoid getting overly emotionally invested in a place then it'll probably follow you don't get financially over-invested either.

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1 hour ago, onlyme said:

As I mentioned on another thread, lowball offers on stale stock can get results right in the dead of winter long before the whiff of spring selling period. Might have dodged a bullet in many ways, if you are hopefully on the mend then the current place you like may still be viable, a house move is immensely stressful and hard work, may be for the best for your recovery that this one fell through.  Nearly bought a leasehold flat once before we found out at the search stage that the agent had lied/misinformed from the start about ownership of vaults associated with the main flat. When we pulled out the dumb fuck queried whether that meant the deal was off, too right it is matey, it was not what was as described.

It's pretty miraculous really that I've been doing better given how stressful the negotiation process was, maybe I'll be even better once the stress wears off. I'm going focus my energy on decluttering the flat which will make it nicer to live in while we're here and easier to deal with when we do move. It would also mean that if I do get worse again we can at least get a cleaner.

I'm starting to wonder if the higher bid was even real. I listened back to the conversation my husband had with the estate agent and every time he said higher bid it could have meant higher than our bid or higher than their original bid - he never outright said that the other couple offered more money than us. The only thing that he made a definitive statement about was how much more money the vendor wanted from us. I think maybe the vendors just decided they could get more money out of us and told the estate agent to stretch the truth a bit. If that's the case then it backfired spectacularly since we withdrew our offer altogether. If they come crawling back to us then the most we're willing to pay is 20k less - 10k for being a dick and 10k to sort out their cheap fixes that we're sure must exist now that they've shown themselves to be greedy fuckers. 

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Well played This Time; walking away is hard but it's far better than a bad deal.

Also I find that preparedness to walk away, which it's best not to disclose, gives you a strong mental edge in negotiation as it means the vendor doesn't chance it as much because they can sense that you're not a soft touch.

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1 hour ago, This Time said:

It's pretty miraculous really that I've been doing better given how stressful the negotiation process was, maybe I'll be even better once the stress wears off. I'm going focus my energy on decluttering the flat which will make it nicer to live in while we're here and easier to deal with when we do move. It would also mean that if I do get worse again we can at least get a cleaner.

I'm starting to wonder if the higher bid was even real. I listened back to the conversation my husband had with the estate agent and every time he said higher bid it could have meant higher than our bid or higher than their original bid - he never outright said that the other couple offered more money than us. The only thing that he made a definitive statement about was how much more money the vendor wanted from us. I think maybe the vendors just decided they could get more money out of us and told the estate agent to stretch the truth a bit. If that's the case then it backfired spectacularly since we withdrew our offer altogether. If they come crawling back to us then the most we're willing to pay is 20k less - 10k for being a dick and 10k to sort out their cheap fixes that we're sure must exist now that they've shown themselves to be greedy fuckers. 

The sellers will never come back. That flat is gone forget it. Years ago we offered on a flat got gazumped a few hours later .... OK let them have  it .... it never sold. On another we offered high to coincide with  the end of an AST, they reneged on the date but still wanted the same cash ... we pulled out on the new day of exchange (we had a new AST so were commited to the spend) we refused even to discuss a price drop (interestingly the sellers did not offer one to proceed) as we had also decided we did not want the property as well, they sold later for much less than we had offered. Greed rules the sellers.

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There are people queuing to view one at the top of our street. Needs new windows, new kitchen and bathroom really, but you would move in and live there quite happily if you weren't that bothered by old stuff.
It's on at £5k more than the most expensive ever.

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4 minutes ago, sarahbell said:

There are people queuing to view one at the top of our street. Needs new windows, new kitchen and bathroom really, but you would move in and live there quite happily if you weren't that bothered by old stuff.
It's on at £5k more than the most expensive ever.

Kite flying or do you think they will get it?  It amazes me that fully refurbished does not always attract that much of a premium

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3 minutes ago, One percent said:

Kite flying or do you think they will get it?  It amazes me that fully refurbished does not always attract that much of a premium

The problem with fully refurbished is it really has to be to your taste. Most people wouldn't rip out a new bathroom or kitchen that they didn't like but would do it no problem if they were older. You'd also feel a bit daft painting rooms that had recently been done in a colour you weren't a fan of.

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1 minute ago, This Time said:

The problem with fully refurbished is it really has to be to your taste. Most people wouldn't rip out a new bathroom or kitchen that they didn't like but would do it no problem if they were older. You'd also feel a bit daft painting rooms that had recently been done in a colour you weren't a fan of.

Yep, true but otoh, it amazes me how few people know how to decorate and do DIY. A lot like to leave it to others

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3 hours ago, One percent said:

Kite flying or do you think they will get it?  It amazes me that fully refurbished does not always attract that much of a premium

he's gone into a home, so nephew has power of attorny. won't budge on price apparently

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