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Topic: Put our First Ever House Offer In (Re-wiring query)  (Read 2272 times)

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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #45 on: October 10, 2019, 03:51:59 PM »
Mortgage Application submitted and Solicitors 'instructed'. Ahhh!!
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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #46 on: October 11, 2019, 06:24:09 PM »
Having a slight worry.

I’m worried with the current economy that the lenders’ valuation might value it much lower than it’s worth. This would screw us over.

Also, the lender doesn’t do home buyers surveys so we have to get our own. I don’t even know where to start with this
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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #47 on: October 11, 2019, 06:56:48 PM »

I’m worried with the current economy that the lenders’ valuation might value it much lower than it’s worth. This would screw us over.


The valuation will BE GOOD as it proves you are not overpaying.  You said it’s being sold for £50k or so below market value.  If that’s true...  why worry.

If the bank says it’s worth less, then you pay less.  That’s not a bad thing.  ;)


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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #48 on: October 11, 2019, 07:27:46 PM »
The valuation will BE GOOD as it proves you are not overpaying.  You said it’s being sold for £50k or so below market value.  If that’s true...  why worry.

If the bank says it’s worth less, then you pay less.  That’s not a bad thing.  ;)
Plus, if it does value lower and the seller won't lower the price then you just don't get that house. Sometimes you have to thank God for unanswered prayers. I would look at it as a blessing that this is the wrong house for you.

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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #49 on: October 14, 2019, 08:33:08 AM »
The valuation will BE GOOD as it proves you are not overpaying.  You said it’s being sold for £50k or so below market value.  If that’s true...  why worry.

If the bank says it’s worth less, then you pay less.  That’s not a bad thing.  ;)

They might just go with another buyer and take the risk of their lender providing a higher valuation? I am just a big worrier with all this haha.
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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #50 on: November 06, 2019, 11:27:32 AM »
So, mortgage fully offered!

Surveyor looking over the house as we speak. We did a HomeBuyers survey.
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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #51 on: November 06, 2019, 07:08:42 PM »
So, mortgage fully offered!

Surveyor looking over the house as we speak. We did a HomeBuyers survey.
How exciting! Good luck with your purchase :)

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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #52 on: November 07, 2019, 07:11:35 AM »
You've got the mortgage offer before the valuation??  Very strange...

But good luck.. hope it all goes smoothly.


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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #53 on: November 07, 2019, 07:19:17 AM »
You've got the mortgage offer before the valuation??  Very strange...

But good luck.. hope it all goes smoothly.
Might be different in scotland but that does happen down here. I think what happens is that if it turns out the survey estimates it as a different value, there can be issues (don't quote me on that though as I've not had it happen to me before).

Best of luck, Ben.

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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #54 on: November 07, 2019, 10:02:10 AM »
Thanks everyone!

Albatross we're doing our survey with an independent surveyor. We didn't pay for the survey until we got our full mortgage offer. The lender's valuation was done before we got our mortgage offer, and then we paid for an independent HomeBuyers survey as our lender doesn't do this type of survey. Hope that clarifies things!

Now just waiting for solicitors........
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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #55 on: November 12, 2019, 11:58:31 AM »
So. Survey report back.

"unduly springy floors in lounge, hall and dining room". This concerns me. Would need a specialist to look and do an assessment. Anybody had this before?
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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #56 on: November 12, 2019, 12:01:05 PM »
Ben, this place sounds like a disaster. 
Sounds like damp, rotting joists, etc.  £££££££
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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #57 on: November 12, 2019, 12:02:41 PM »
So. Survey report back.

"unduly springy floors in lounge, hall and dining room". This concerns me. Would need a specialist to look and do an assessment. Anybody had this before?

I found this.
Quote
Excessively ‘springy’ floors (think ornaments vibrating with passing steps) could be a sign of a structurally unsound floor — investigate it early on in renovation work

https://www.homebuilding.co.uk/repairing-and-caring-for-old-timber-floors/
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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #58 on: November 12, 2019, 12:16:01 PM »
Ben, this place sounds like a disaster. 
Sounds like damp, rotting joists, etc.  £££££££

The survey also said that there was no signs of damp and that all damp hardware was performing well. It also said acceptable amount of ventilation points (i.e. airbricks).

It seems that the only option here is a dedicated inspection.
15/03/2013 - Met in Cancun
29/11/2013 - Engaged
25/02/2014 - Married
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06/06/2017 - Little Nipper born
22/07/2019 - ILR Granted


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Re: Put our First Ever House Offer In (Re-wiring query)
« Reply #59 on: November 12, 2019, 12:17:54 PM »
Well not having damp is good news!  But yeah, probably need to really have an in depth look at these things
I've never gotten food on my underpants!
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