Hi all. Stuck between a rock and a hard place and would love other views on this, especially from sellers!
We've sold our house for full asking price to cash buyer. So don't want to lose our buyer.
We are purchasing a house that ticks every single box in a fantastic location. Houses (that we can afford ) rarely come up for sale there. The house needs a lot of work but have budgeted for that. We're paying near the asking price too.
Survey and subsequent investigation shows about £5k of immediate work needed on roof, damp, problems with rendering. Stuff that we could not see on viewing the house, and should not happen with normal maintenance.
We've asked for the £5k off and shown quotes and the relevant points from the Home buyers report. Seller is refusing to budge (he doesn't live there) saying he can put it back on market ( we put in an offer after it had been on market 4 days) or rent it out if needs be. (It is very in need of modernisation so good luck with renting Mr Seller!
Half of me wants to just pull out, we really can't afford an extra £5k of work on top of everything that is needed.
But then the other half sees this is such an amazing opportunity that we swallow the cost and compromise on something else ie the patio will have to wait a few years .
Selling ours then renting is not an option as we have to pay about £6k mortgage redemption charges; we are porting the mortgage to new house.
We've probably already spent close to £1k on solicitors, mortgage fees, survey etc
What would you do, either as us the buyer as a seller? Have you had a similar experience?
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35 replies
YevgenyOnegin · 15/09/2016 20:43
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