Jump to content
DOSBODS
  • Welcome to DOSBODS

     

    DOSBODS is free of any advertising.

    Ads are annoying, and - increasingly - advertising companies limit free speech online. DOSBODS Forums are completely free to use. Please create a free account to be able to access all the features of the DOSBODS community. It only takes 20 seconds!

     

Diary of a house purchase


Recommended Posts

Sasquatch
38 minutes ago, wherebee said:

What you do there is a nice letter to the estate agent, by registered post, and a nice letter to the owner, registered post, setting out all these legal minefields.  In your letter you remind them of the legal obligation to inform any future purchaser of all the known issues with a property, and that you are offering on that basis - put a very lowball offer in.

Now here is the tricky part - you don't want to be open to a charge of extortion, but you DO want them to know that you will be giving a copy of the letter to any new owners.  So, you put in your letter - "if this offer is not suitable I will resend this letter to the address every six months to see if you are interested in selling at that time".

They are stuck between selling to you, or having the risk they sell to someone at the price they want by hiding stuff, only you come along and leave them open to huge legal action.

at the very least the estate agent will have a shitty month.

That particular house appears to have sold. Let's see if it goes all the way to completion though....

  • Agree 1
Link to post
Share on other sites
  • Replies 205
  • Created
  • Last Reply

Top Posters In This Topic

  • Sasquatch

    67

  • leonardratso

    24

  • Green Devil

    16

  • MrXxxx

    13

Top Posters In This Topic

Popular Posts

We've gone and done diddly done it. We've bought the house. Had to pay £400K to secure it. The seller wasn't budging. However we've trimmed our budget by £20K and can definitely (and easily) crea

We have the house.  Spent an hour walking around it on Thursday afternoon wondering if we'd lost our tiny minds. Then spent the rest of the day and the whole of Friday lifting carpets, strip

I've posted on here before but every single time I put an offer in on a place in the UK, a higher offer amazingly appeared from nowhere. I would start with the assumption the estate agent is a ly

Posted Images

Green Devil
1 hour ago, Andersen said:

I bought a "renovation project" (in estate agent speak, a total wreck in general parlance), got the keys and when I got there the kitchen pantry window was smashed (it was ok when I viewed a week earlier). Vendor claimed it was an accident when he was moving the fridge out. Soon after I moved in the neighbors let me know it was done by the local druggie who lived 6 doors away (when he wasn't await visiting HRH. Never a dull day :/

These are the ones your friendly EA will sell to you. THE total wreck. The one the EAS mate doesn't want.

If it was a gem(a renovation project with garden) and was cheap, that you can whistle for, the mates already had it. 

  • Agree 1
Link to post
Share on other sites
Sasquatch

We're having an interesting time viewing properties. At the moment, all quite relaxed as we have another 10 months in our rented house plus highly likely we could extend for another 6 months. In the last 6 weeks:

House no. 1 - listed former mill. Massively over priced. High flood risk. Unresolved public footpath issue. Total money pit. Very nice location though. Apparently it's sold but let's see...

House no.2  - listed town property with potential. Price just about ok but possible money pit. Complex boundary/ownership issues and strange charges on the title. Appears to have sold.

House no. 3 - village house with lovely garden. Massively over priced. Forced sale as owner has just been convicted of a serious crime and is off to prison for a long time. Agent completely deluded about the circumstances. 

House no. 4 - really cool 50's/60's house needing lots of work. Massively over priced. Been on the market for 12 months +. Signs of recent burglary. Agent completely deluded.

House no. 5 - former B&B in lovely spot with decent garden. Viewing tomorrow. Price looks ok but it's a strange one. I've downloaded the land registry details and it's a mess. At least 4 charges on the property from 4 separate lenders. The owner is nearly bankrupt according to the agent. Very few interior photos on the listing so we're wondering if it's actually a basket case. Maybe they've ripped out the kitchen and boiler??!! Could be unmortgageble.

We seem to be drawn to the crazier end of the marketplace......

 

Edited by Sasquatch
  • Informative 2
  • Lol 1
Link to post
Share on other sites
onlyme
On 09/12/2020 at 17:44, Sasquatch said:

The young, friendly but quite naive agent showing us around blurted out that they had had 18 viewings in 12 months and no offers. That's priceless information for a potential buyer. I suspect her boss and the owner would be less impressed....

It's a rare property on a 1.5 acre site but needs stacks of work.

25% drop so far from original asking price (which was extreme kite flying)

If we were interested (I'm not sure we are), we would take another 25% off. 

I'm almost annoyed that the owner is trying to extract this much money from the house. 

However, I would like to put in the low offer just to get the reaction! 

it happens, just need to be in right place at night time. Agents will also drop a hint on stale houses to get them shifted, an offer, any offer for them is better than nothing and having to bring round a stream of viewers, if only that offer resets the seller's aspirational price.

Got this place at less than 60% of original marketed price after it had languished on the market 2 years.

Right time of year to do it too, as a month or two of fresh hope comes with the spring season.

 

  • Agree 1
Link to post
Share on other sites
Green Devil
1 hour ago, Sasquatch said:

We're having an interesting time viewing properties. At the moment, all quite relaxed as we have another 10 months in our rented house plus highly likely we could extend for another 6 months. In the last 6 weeks:

House no. 1 - listed former mill. Massively over priced. High flood risk. Unresolved public footpath issue. Total money pit. Very nice location though. Apparently it's sold but let's see...

House no.2  - listed town property with potential. Price just about ok but possible money pit. Complex boundary/ownership issues and strange charges on the title. Appears to have sold.

House no. 3 - village house with lovely garden. Massively over priced. Forced sale as owner has just been convicted of a serious crime and is off to prison for a long time. Agent completely deluded about the circumstances. 

House no. 4 - really cool 50's/60's house needing lots of work. Massively over priced. Been on the market for 12 months +. Signs of recent burglary. Agent completely deluded.

House no. 5 - former B&B in lovely spot with decent garden. Viewing tomorrow. Price looks ok but it's a strange one. I've downloaded the land registry details and it's a mess. At least 4 charges on the property from 4 separate lenders. The owner is nearly bankrupt according to the agent. Very few interior photos on the listing so we're wondering if it's actually a basket case. Maybe they've ripped out the kitchen and boiler??!! Could be unmortgageble.

We seem to be drawn to the crazier end of the marketplace......

 

Looks like everything decent at a decent price is sold. All your left with is a) masively overpriced shit or b) shit stuff with multitudes of issues.

Pretty much what im seeing in my market as well :Jumping:

  • Agree 2
Link to post
Share on other sites
Wight Flight
9 hours ago, Green Devil said:

Looks like everything decent at a decent price is sold. All your left with is a) masively overpriced shit or b) shit stuff with multitudes of issues.

Pretty much what im seeing in my market as well :Jumping:

Exactly the same here.

But there is always the fool applying London prices, so they still have a chance.

Link to post
Share on other sites
Sasquatch

Just back from our viewing. That was an eye opener!

Potentially a very nice house but in a terrible state. The agent's details stated requiring restoration but the photos on the listing are very deceiving. Pretty silly really. The agent showing us round was refreshingly candid. Apparently one couple rolled up on Monday, spent two minutes inside and then left sharpish.

Water pouring in through the roof into inadequate buckets. Ceiling in two places looking about ready to collapse. We could see that this was due to failed lead valleys. Slipped roof slates. The start of green mould building up everywhere. The cloakroom floor completely gone. Wind and rain blowing through rotten windows on the south side. Owner's belongings all over the place. Garden totally overgrown complete with two knackered caravans and the partly eaten carcass of a pheasant on the lawn.

We loved it!

Would potentially be a super house with a surprising number of original features still in place. Price is mad though and apparently has been set by the vendor. Probably 30% too high.

We might put in a very cheeky offer......

 

 

  • Cheers 4
Link to post
Share on other sites
sleepwello'nights
3 hours ago, Sasquatch said:

 

We might put in a very cheeky offer......

 

 

I thought that, but the site manager/project manager told us that there were several other potential buyers for the house we first saw in June. The first buyer we are told had issues with the sale of their house and the developer wasn't prepared to wait any longer. So it was re-advertised at a higher price!

My wife was insistent we go for it so we offered the "guide" price. Funnily enough our offer was accepted. We had no chain behind us so I guess they thought we were a better bet than the other "interested" parties, if they even existed. I'm not a good negotiator and the site manager is a good salesperson. But hey, we can afford it and it is only money as opposed to the years of grief I would be subjected to if I didn't pay.

Although I thought the exchange of contract on our house was definite on Friday. It turned out that it didn't actually happen until lunch time today. I had to put up with a very moody wife from Monday when we learned that exchange hadn't taken place until confirmation of exchange today. 

Too late now but I was prepared to start looking for a plot of land and project manage a self build. This likely to be our last house so my ambition to self build a house is not to be in this life time. And of course now that the die is cast lots of suitable plots spring up! 

Edited by sleepwello'nights
submitted before i had finished
  • Agree 1
  • Cheers 2
Link to post
Share on other sites
wherebee
1 hour ago, sleepwello'nights said:

I thought that, but the site manager/project manager told us that there were several other potential buyers for the house we first saw in June. The first buyer we are told had issues with the sale of their house and the developer wasn't prepared to wait any longer. So it was re-advertised at a higher price!

My wife was insistent we go for it so we offered the "guide" price. Funnily enough our offer was accepted. We had no chain behind us so I guess they thought we were a better bet than the other "interested" parties, if they even existed. I'm not a good negotiator and the site manager is a good salesperson. But hey, we can afford it and it is only money as opposed to the years of grief I would be subjected to if I didn't pay.

 

There is a reason car salesmen and real estate agents target the women for sales.  Women are much much less likely to want to haggle or go below the list price (obviously exceptions exist like the chinese lady who bought one house off me that tried to get a discount due to the use of weedkiller in a neighbours garden).

Get the woman on board, and she'll pressure the man not to 'embarrass me by looking cheap'

1 hour ago, leonardratso said:

minus 50%

minus 60%

  • Agree 3
  • Lol 2
Link to post
Share on other sites
Andersen
5 hours ago, Sasquatch said:

Just back from our viewing. Water pouring in through the roof ...

I viewed one place, liked it a lot but gave up trying to buy after several months as vendor & I were a long way apart on what it was worth.

They saw it as a big house with big garden - lots of potential etc.  I saw lots of clear sky when I opened the loft hatch, 10+ tiles missing and plenty more had slipped. Vendor then got a quote near £20k to replace the roof but refused to drop the price... 

Link to post
Share on other sites
Sasquatch
15 hours ago, wherebee said:

minus 60%

Completed our initial outline repair and refurbishment budget. We would only be comfortable offering 60% of the asking price (ie 40% off). Highly unlikely to be accepted by the vendors. However their lender might be calling the shots on this one.

With the rainwater ingress issue, time will be of the essence. Leave it untouched for 12 to 18 months and it will become derelict (which would be criminal).

It's not listed but it should be bearing in mind the quality of the building and surviving features.

My gut feeling is that it's unmortgageable as it stands. We can just about buy with cash at our offer level and then put a small mortgage on it later once we've got the roof fixed.

Cloakroom photo below. Just needs a lick of paint. O.o

 

IMG_4281.JPG

  • Lol 2
  • Cheers 1
Link to post
Share on other sites
leonardratso

i dont see what you are complaining about? youve got 2 legs havent you? no reason you cant balance across that joist and mains pipe while you urinate into that rather high urinal.

Edited by leonardratso
  • Lol 2
  • Cheers 1
Link to post
Share on other sites
Heart's Ease
24 minutes ago, Sasquatch said:

Completed our initial outline repair and refurbishment budget. We would only be comfortable offering 60% of the asking price (ie 40% off). Highly unlikely to be accepted by the vendors. However their lender might be calling the shots on this one.

With the rainwater ingress issue, time will be of the essence. Leave it untouched for 12 to 18 months and it will become derelict (which would be criminal).

It's not listed but it should be bearing in mind the quality of the building and surviving features.

My gut feeling is that it's unmortgageable as it stands. We can just about buy with cash at our offer level and then put a small mortgage on it later once we've got the roof fixed.

Cloakroom photo below. Just needs a lick of paint. O.o

 

IMG_4281.JPG

I'm just glad you've not shown us a picture of the toilet.  Good on you for taking it on, if it all works out.

Link to post
Share on other sites
nirvana
1 hour ago, Sasquatch said:

Cloakroom photo below

is that downstairs? There's no mortar between the bricks!

I bought a 'water damaged' house but it was made of stone and had walls half a meter thick and I got up on the roof and fixed it myself by removing 4 chimneys and I guessed the sun could 'dry it out' xDbut that one, kinnell......wouldn't like to be taking a crap in there on a windy day :Jumping: 

Edited by 5min OCD speculator
Link to post
Share on other sites
On 15/12/2020 at 13:00, Sasquatch said:

House no. 3 - village house with lovely garden. Massively over priced. Forced sale as owner has just been convicted of a serious crime and is off to prison for a long time. Agent completely deluded about the circumstance

Going to prison eh?....well the house may be overpriced but the garden could be worth a fortune!;-)

  • Lol 3
Link to post
Share on other sites
1 hour ago, MrXxxx said:

Going to prison eh?....well the house may be overpriced but the garden could be worth a fortune!;-)

You don't think that they'll be watching you? LOL

Link to post
Share on other sites
1 hour ago, CVG said:

You don't think that they'll be watching you? LOL

Well certainly solve the lack of concrete foundation in that downstairs toilet shown above...although you may need War and Peace as ablution reading material rather than The Beano!

Link to post
Share on other sites
sleepwello'nights
8 hours ago, Sasquatch said:

Completed our initial outline repair and refurbishment budget. We would only be comfortable offering 60% of the asking price (ie 40% off). Highly unlikely to be accepted by the vendors. However their lender might be calling the shots on this one.

 

 

 

How does that compare with demolish and construct a new dwelling?

  • Agree 1
Link to post
Share on other sites
Sasquatch
2 hours ago, sleepwello'nights said:

How does that compare with demolish and construct a new dwelling?

The building is too good to be demolished. In a conservation area in any case.

Link to post
Share on other sites
Hardhat
15 hours ago, Sasquatch said:

Bigger buckets required, methinks.

IMG_4246.JPG

Is the panelling original? Great feature if so.

A lot of the trouble with water ingress is that some of the damage might not show until you've dried the place out completely, as well as wood shrinking / moving and water picking up mortar etc and becoming alkaline which can degrade wiring.Then there's the chance of black mould behind wallpaper etc. You may already know all this! Would be interested in some progress photos (maybe on stealth) if you do take it on.

  • Agree 1
Link to post
Share on other sites
Sasquatch
2 minutes ago, Hardhat said:

Is the panelling original? Great feature if so.

A lot of the trouble with water ingress is that some of the damage might not show until you've dried the place out completely, as well as wood shrinking / moving and water picking up mortar etc and becoming alkaline which can degrade wiring.Then there's the chance of black mould behind wallpaper etc. You may already know all this! Would be interested in some progress photos (maybe on stealth) if you do take it on.

Original panelling. The 3 reception rooms and 2 of the bedrooms are panelled with original fireplaces as well. Don't want to put too many photos on here that would identify it. The house should be listed to be honest. Arts & Crafts origins. 

We've been putting 2+2 together and reckon the water has been getting in for months. However, up until recently the owners were living there and presumably emptying the buckets. It looks like they have moved out though and have put the house on the market. The buckets have then overflowed and soaked through into two rooms below. All of the woodwork is sticky with green mould starting to build up. 

Our business specialises in the repair and restoration of old buildings so we know what we are looking at. The whole place needs to be dried out (slowly) and treated with a biocide. I think some of the floor boards will be lost but hopefully the panelling/doors/skirtings will be ok. 

We have budgeted for a major clear out (reckon 10 to 15 skips required!), re-roof, extensive window repairs, removal of inappropriate conservatory, new rainwater goods, replacement of failed ceilings/floors, a re-wire, heating system upgrade, lining chimneys, new kitchen, new bathrooms, new carpets, full redec. A big job but other than some possible roof timber decay to the valleys, the structure is sound. It probably looks appalling to the average person viewing it though.

I might do a stealth refurb thread if we manage to bag it.

Trying to decide whether we wait until after Christmas or put in a bid beforehand. 

I think the owners might be forced into bankruptcy and then the property could be re-possessed and possibly auctioned off. All the time it will be falling into more disrepair. 

  • Agree 2
  • Informative 2
  • Cheers 1
Link to post
Share on other sites
8 minutes ago, Sasquatch said:

Original panelling. The 3 reception rooms and 2 of the bedrooms are panelled with original fireplaces as well. Don't want to put too many photos on here that would identify it. The house should be listed to be honest. Arts & Crafts origins. 

We've been putting 2+2 together and reckon the water has been getting in for months. However, up until recently the owners were living there and presumably emptying the buckets. It looks like they have moved out though and have put the house on the market. The buckets have then overflowed and soaked through into two rooms below. All of the woodwork is sticky with green mould starting to build up. 

Our business specialises in the repair and restoration of old buildings so we know what we are looking at. The whole place needs to be dried out (slowly) and treated with a biocide. I think some of the floor boards will be lost but hopefully the panelling/doors/skirtings will be ok. 

We have budgeted for a major clear out (reckon 10 to 15 skips required!), re-roof, extensive window repairs, removal of inappropriate conservatory, new rainwater goods, replacement of failed ceilings/floors, a re-wire, heating system upgrade, lining chimneys, new kitchen, new bathrooms, new carpets, full redec. A big job but other than some possible roof timber decay to the valleys, the structure is sound. It probably looks appalling to the average person viewing it though.

I might do a stealth refurb thread if we manage to bag it.

Trying to decide whether we wait until after Christmas or put in a bid beforehand. 

I think the owners might be forced into bankruptcy and then the property could be re-possessed and possibly auctioned off. All the time it will be falling into more disrepair. 

The thing is if it goes to auction you have even more competition i.e. developers and the 'Homes under the Hammer' brigade...I think I would put in time limited offer now with the caveat that things i.e. house and economy are only going to get worse than better...the owners may just be relieved to have matter resolved before Christmas, and further lockdowns in New Year.

  • Agree 2
Link to post
Share on other sites
Sasquatch
25 minutes ago, MrXxxx said:

The thing is if it goes to auction you have even more competition i.e. developers and the 'Homes under the Hammer' brigade...I think I would put in time limited offer now with the caveat that things i.e. house and economy are only going to get worse than better...the owners may just be relieved to have matter resolved before Christmas, and further lockdowns in New Year.

Totally agree. We are offering this morning. Based upon a cash offer (no mortgage), no survey required, a quick conveyance and simultaneous exchange/completion. 

I watched a property auction yesterday. A fairly non-descript house in the Lake District sold for £400,000 and requiring stacks of work (guide of £250,000!). You could see the auctioneer working the bidders. Total emotional heart over head stuff. 

  • Agree 1
  • Cheers 1
Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    No registered users viewing this page.


×
×
  • Create New...