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raggamuffin

raggamuffin

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Time for a New Age sounding request. Asking people to send positive thoughts our way...

The surveyor completed the valuation on the house we're buying. They believe it's worth 12,000 less than the value we bought it for. Thus they won't give us the full mortgage amount required.

We've asked the vendor to drop the house price by £6000. So we effectively each lose 6k.

Should hear from them on Monday...

Ed
 
I think we might be in luck. The vendor has asked to see a copy of the valuation. Our mortgage broker is trying to get a copy to them if the bank will provide one. This is promising as the vendor didn't say no outright to a reduction in the price of the house.

The only hurdle is getting the bank to free up a copy of the valuation as it's usually only done for their purposes. However they can't expect people to lose out on thousands of pounds without showing the surveyors paperwork.

I hope things get sorted quickly...

Ed
 
What was your original buying price? That's quite a lot off. Pretty cool imo. :)
 
@Colette £126,500.

Surveyor for the bank offering the mortgage said because it didn't have an oven installed it was worth £12,000 less. Pretty outrageous drop in value for a job that'd probably cost less than £1500 to get a new fuse box, wiring and an extractor fan installed to have an oven in the kitchen. So they won't give us the full £126,500 needed for the mortgage.

As the vendor has refused to install the necessities to have an oven in the kitchen the only available options are either me making up the 12k difference and paying £18,325 for a deposit instead of my original £6325 deposit and it still being considered a 5% deposit or to ask the vendor to split the 12k hit with me. So they get 6k less for the house and I pay 6k more for the deposit.

I'm hoping they accept the latter. The fact they didn't say no outright and are asking to see a copy of the surveyor report gives me hope. The other factor working in our favour is that if they did pull out of the sale they'd probably struggle to sell the house as anyone else buying with a mortgage would run into the same issue; the vendor is simply asking too much for the house. They could hold out for a cash buyer but they're a much rarer buyer than those who are using a mortgage to buy a house.

Fingers crossed...

Ed
 
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Completion date is 22nd June. Getting the keys next Thursday. Renting a van on Sunday to get all our stuff moved into our new home.

Ed
 
raggamuffin said:
Completion date is 22nd June. Getting the keys next Thursday. Renting a van on Sunday to get all our stuff moved into our new home.

Ed
Click to expand...
Congrats! if you guys have anything like an HOA in the UK, better start becoming friendly with the neighbors so your wife can get good graces and get into the HOA board asap loool.
 
Thank you kindly.

No HOA or marriage thankfully :p

I'll be interested to see what the neighbours are like though xD

Ed
 
Chill the fuck out! That's what my body said to my mind as I was repeatedly running over the moving/removals schedule for next week for the house. Going through it again and again and giving myself a stress headache.

Then, just as I was about to go to bed I reach over to close the rather large heavy window in my bedroom. The whole window needs to be pushed up with quite some force. I guess the angle was off because when I went to push something went pop in my elbow.

Dr said I've strained my elbow. No heavy lifting for several weeks.

I think my body subconsciously took over and took me out of the running for moving house. De-stressing my mind by stressing the fuck out of my elbow. So now we're looking at removal companies and I won't have to stress out at all with moving any furniture.

It might cost a pretty penny but at least the company is based just down the road from our new house and the storage place where all our stuff is kept is only 17 miles down the road. With the truck they have shown on their website I reckon they could easily do the move in 2 trips.

Shapow

Ed
 
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