Ready-to-move-in vs. 'project' house?! Aaargh - how to decide?!

(103 Posts)
flow4 Tue 23-Apr-13 00:26:07

I'm going round and round in circles, and just wonder whether any of you good people might have any information, ideas or opinions that might help me make some decisions... confused grin

I found a house I liked - not perfect, but very nice and practical, for £130k. It has a new, good quality kitchen and bathroom, but will need rewiring and a bit of patching up. Unfortunately (a) the vendor isn't ready to move and doesn't want to be hurried, and (b) it's probably only worth £125, and maybe not even quite that, since the local market is stagnant. I offered and was rejected, raised and was rejected again, and we've stalled... So I started looking again.

I'm thinking again about another house I saw last summer, but rejected at the time because it needs so much work. It will need a new kitchen, bathroom, a wall that has been put up in a silly place knocking down again, rewiring, a new gas CH/hot water system, and total redecoration. It's in a better location with a great, open view. It also has new windows and doors, compared with 10-15yo ones on the other house. It's on the market at £120, but has been for almost a year, so could probably be bought for £110-115k.

Both houses are ex-council 3 bed semis with garages, with good gardens, on similar sized patches, in different but nearby villages.

Other similar houses are to be found for around £130-140k, but I haven't seen any I like yet.

The question is, is £15k enough to do the work that the second house will need? I'm estimating costs as follows, with some work done at 'mates rates'...
Bathroom - £2k
Kitchen - £4k
Walls knocking down, possible RSJ and replastering - £4k
New boiler and system - £4k
Redecoration (labour and paint) - £1k
Do these figures sound reasonable? (I'm in Yorkshire btw).

Also, both houses will need rewiring; does anyone know what I should budget for that?

In my dreams, I'd also like a little garden room extension and an basic loft room... What sort of ball park figures should I pencil in?!

The other question, of course, is whether I can face taking on so much work! I don't know the answer to that one yet, so if anyone has any experiences they'd like to share of their own house projects, please do! (I would be able to stay in my current house while work is being done on a new one, for a month or so anyway).

Sorry for such a long post, and thank you if you've read all the way though... I'm a single parent, and need someone to talk all this through with really; but if you lot are happy to help, I might be able to stop my head exploding!

Well we moved into our house which needed new kitchen, electrics boiler, redecoration, some re plastering, Flooring throughout, garden etc

So far we've spent under 5k doing it all ourselves/family. It's certainly do able and the satisfaction is great but it is hard to live in (kitchen is the worst!)
It's a relatively short amount of time though and so so worth it. You can make the house exactly as you want it.
As this is our first house we've brought after being in rented its so nice to have colours that we've chosen and a kitchen in our style etc.
I love it!
Maybe next time I would try and do te major works before moving in though - especially with a toddler and being pregnant grin

AliceWChild Tue 23-Apr-13 08:05:39

It's similar to what I'm doing.

The house I lived in now needed a that when we moved in. It's taken us 10 years to do as we has other priorities. Never again.

The house I'm moving to is similar and we've kept some money out to do work. A bit less than you but we don't think we can afford the kitchen as a result. Tbh the chance of finding a house I like the decor of is tiny so it's not something I look for in a house. We're not moving in till works done this time.

I've followed your stuff and the seller of the first house now sounds a nightmare tbh. I'd walk away. I'm also buying the house I am as it has an easy seller.

If you can really really get great mates rates your budget might be ok. The bathroom and kitchen don't sound that far off what materials would cost. Boiler and building stuff sounds more in ball park but I'm no expert.

If you don't need to move straight away and have the money I'd get the 2nd house for sure.

3rdnparty Tue 23-Apr-13 08:13:18

Your budget looks a bit light, enough for the parts if you shop carefully grin- but I'm in London so hard to judge labour...but would go with the house in a better location.....esp if you planning to stay for a while it's much more important

Fragglewump Tue 23-Apr-13 08:49:52

It can be quite stressful and messy doing big works not to mention very easy to get ripped off if you're not experienced at managing lots of different trades. We have just done our house and I underestimated how stressful the kids would find it! And me especially when things went wrong and we had no kitchen for a few weeks. So if you have the skills to do it yourself or to manage the trades then go for it - maybe put some stuff in storage for a while as everything will be covered in brick and plaster dust. It is very rewarding to get everything exactly as you want it and if the doer upper is a better location and aspect then I think that would tempt me.....good luck

Unfortunatelyanxious Tue 23-Apr-13 08:56:45

Find out what housing is actually selling for in the areas your looking at. I would walk away from house a but though the market is stagnant am wondering why house b has been on the market for so long.

www.rightmove.co.uk/house-prices.html

I had an estimate for a loft room, it wasn't a basic one and included a shower room but was 25k , this is the Midlands so not the mega expensive SE. To me a house is a home and not something to profit by but be aware that it will always be a semi so conversions and extensions will not always pay you back.

Also what are your family arrangements? Are we talking toddlers in the middle of the building work.

One thing I find with mates rates is they can tend to fit you in as and when, so may take longer.

flow4 Tue 23-Apr-13 16:00:24

Thanks everyone. smile So much to think about! confused
I'm only on my phone at the mo, so I'll respond properly when I can get to a PC later...

flow4 Tue 23-Apr-13 22:15:32

Jazz, that figure sounds amazingly low - did you really do all that for £5K?! If so, wow and well done, and you're an inspiration! grin

Alice and 3rd, I think you're right about most of the figures being tight. I'm counting on getting things like bathroom suites in sales. I bought an IKEA kitchen a couple of years ago and fitted it myself, other than a joiner to cut and fit the worktop and a gas fitter to fit the hob, and it cost £2.5K including oven, hob and dishwasher, so I know it's doable at that price. I'm inclined towards the 2nd house too, but phased by the thought of all the work... I can imagine myself sitting there looking at the view as I grow old. smile

Fraggle and UA, I'm not under-estimating the stress. I had my basement kitchen ripped out, damp-proofed and re-fitted a couple of years ago, and it nearly killed me was hugely stressful. My kids are teenagers, so old enough to be helpful if they're in the right mood , but they're not keen on all the upheaval and would sooner move into something already sorted. UA you are absolutely right about mates just fitting you in 'as and when', and that's a big potential drawback, and really important for me to think through - so thanks. smile

One thing that keeps running through my head is this: because I am not selling my current house, but letting it out, I can stay here for a few weeks while the worst of the work is being done on the new house. That's a very lucky position to be in - it's a real advantage and not something most people get - nor is it likely to be possible ever again... It's a great opportunity, and maybe I should take advantage of it?!

Mosman Wed 24-Apr-13 01:34:20

It sounds like you are in a easily good position I would bargain hard on the asking price of the project though to provide yourself with a slush fund, something always comes up doesn't it

PastaBeeandCheese Wed 24-Apr-13 07:42:48

It sounds like you're in a good position to do the work and having experienced the mess of renovation before know what to expect.

You know where you stand with house B. You know it needs lots of work. House A looks 'done' on the surface but how good is boiler? How much life does kitchen and bathroom have left? You'll want to redecorate lounge and bedrooms to your taste anyway?

Not sure house A is worth £20k more taking into account there will still be things you need to do.

flow4 Wed 24-Apr-13 08:06:59

Thanks mosman and pasta. I'm not very good at bargaining, but if I offer on this house, I'll try! The kitchen and bathroom in house A are brand new, good quality and pleasant - ones I might actually have picked myself (or almost). The boiler is about 5 years old, but the radiators are much older. Buy your conclusion, pasta, is the one I came to - which is why we couldn't agree a price, and why I'm looking round again...

AliceWChild Wed 24-Apr-13 08:08:43

If you're handy enough to put in your own kitchen then that reduces the costs loads as its the labour that's pricey.

I'm doing what you mention in your last para. It is a really good opportunity to get your ideal house with minimal hassle. Getting work done when you're not there is such a different thing to living in all the dirt. Can you keep some more equity of out the let to buy to fund works? It's what we're doing. Have you seen a financial advisor as they can work the sums in lots of different ways to give you options?

greenformica Wed 24-Apr-13 17:37:32

New gas and electric would be 10k alone in our area. Flooring? A couple of thousand maybe?

If you have babies or toddlers or are pregnant - don't do it. Otherwise it should be fine but a big commitment.

The house has not been bought for good reason. It needs tons of work. In your shoes I'd offer 100 but not negotiate at all or offer more for another month. Then if you do make an additional offer make it 103 or something very very low.

teacherwith2kids Wed 24-Apr-13 17:52:05

We took on a Project (needs a capital letter - complete rip out and refit job - water, heating, electricity, windows, bathrooms, as well as a significant building project resulting in a kitchen to fit).

Also floors, replastering following the work, total redecoration.

The house had been on the market a while, and basically the pot of money available for buy + renovate was fixed (so any money on renovation = money off the price).

What we did was to get trades to come round to price up the work (we used ones recommended by our EA, who used them in their lettings business, so both sides knew no funny business). Then sent in a spreadsheet saying why our offer was as it was. We ended up taking a VERY significant amount off, but it was accepted because any buyer would have had to do the same work IYSWIM?

doglover Wed 24-Apr-13 20:14:15

This might be a daft question but is it possible to still live in a major renovation project?! We've got our eye on a possible house which requires an immense amount of ripping out and starting again. What do other people do in this situation? We have no relatives that we could stay with: do you put your belongings in storage and rent somewhere for a month? TIA

wendybird77 Thu 25-Apr-13 11:40:42

We are at the tail end of a renovation. I would not do it again living in it. I would rent / live in a caravan on in the garden and keep everything boxed and in storage. I have 2 smalls though and have project managed myself. We have spent about 35k pretty easily - which, of course, we could have done for less but we stuck with mid-range materials, fixtures, etc. We have had nice built-in storage put in in several rooms. We did not rewire, but have had new boiler and replaced rads, kitchen, bathrooms, flooring, replastering, knocked through two walls. We also had unexpected roof problems. Labour was most of that cost by far. I think your budget is far too low. You will save a lot of money doing as much yourself as you can, but don't underestimate how long that will take and how tired you will be of it all! I was saving costs by doing the decorating myself, but have run out of enthusiasm for it (understatement!) and am just paying someone else to finish the rest now. We still need to have the stairs / landing / hall done and I expect it will take me a couple of years to get around to it despite hideousness of decor. I can't handle any more mess and chaos!

flow4 Sat 27-Apr-13 00:31:09

I really sympathise, wendy! I had my basement kitchen ripped out, damp-proofed and re-fitted a couple of years ago, and it took 3 times as long as expected and nearly drove me mad! I wouldn't even consider this if I had smalls rather than teens, and if it wasn't possible to stay in my current house while the nastiest stuff is being done!

As it is, I think I'm going to put a cheeky offer in on the doer-upper tomorrow - one that reflects the masses of work it needs! confused Keep your fingers crossed for me please... smile

Sausagedog27 Sat 27-Apr-13 07:18:38

Good luck flow!

flow4 Sat 27-Apr-13 08:18:43

Thank you sausage! I've been awake fretful, trying to work out the sums! My builder friend reckons it could be made nicer than the other house for £15-20k and a lot of work... This gives me a max offer of £110-115k I reckon.

Tizwozliz Sat 27-Apr-13 08:46:22

How desperately are the improvements needed? Can any of it be lived with for a while

We moved into a 1950s ex-council semi that had had one owner and where re-decoration consisted of putting more wallchip over the existing wallchip and painting it smile The bathroom however had a newer suite so is functional if not very lovely to look at with the original tiles but this meant we can live with it whilst we work on other priority areas, like the kitchen. Photo on profile, Ikea - under your budget.

AliceWChild Sat 27-Apr-13 08:56:07

Good luck! grin

purplewithred Sat 27-Apr-13 08:57:36

With your knowhow, a house you can see yourself growing old in and with loft/extension possibilities, and teenagers, and the chance to rent for an extra month crossover period, I'd go for the Project but only if I had £25k cash in my pocket on the day of completion.

flow4 Sat 27-Apr-13 10:09:33

Thanks Tiz, Alice and purple. smile
Tiz, yes, the bathroom can be lived with. I think the priority is getting the downstairs sorted, because all sorts of things are inter-related there (walls, kitchen, decor, at least). The electrics can prob wait too.
purple, that's my feeling too, although I might settle for £20k. I need to check my sums, because although I have a mortgage approved well above asking price, it occurs to me that if I offer less, and it's valued at less, the BS will also actually lend me less... confused

AliceWChild Sat 27-Apr-13 14:58:48

They will. When we did ours we used a financial advisor to work out the different combinations as it gets complicated as the loan to value ratios need to stay the same.

flow4 Sat 27-Apr-13 19:17:00

Yes, I expect they will. smile I texted my broker ( "my broker" grin ) this morning to ask, but didn't hear back. The only tricky issue is that I applied for a mortgage with a low LTV (or is it high?! Anyway, less than 50%...) I won't have any problems getting a loan with a higher LTV, and still won't need more than about 60-65%, but I don't know whether that means a fresh set of application fees...

flow4 Sun 28-Apr-13 15:44:58

Right. I've put in an offer of £108k. Gulp! shock

AliceWChild Sun 28-Apr-13 16:11:54

grin look forward to hearing what they say

flow4 Sun 28-Apr-13 17:15:49

Me too! I think! confused grin
I also submitted a breakdown of estimated costs, to show the EA and vendor that I didn't pull the figure out of nowhere. I'm a bit worried that this might offend him - presumably he thinks that ridiculous wall is in a fantastic place, since he put it there! Ho hum, 'tis done now!

mamapants Sun 28-Apr-13 17:55:42

I think if you are doing all the work then the cost of buying the house and doing the work should be less than the market value. Not everyone is willing to do work so price should reflect that.
I bought a house 3 yrs ago for 85k spent 12k so total cost 97k and sold it for 128k. So the hard work was definitely worth it.
Doing the same now, just bought a do-er uper (practically a knock down and start again) but know its worth it because we will have a much better house for our budget than if we were buying one all done.
It does depend on your priorities though. And we do have a budget to rent while we're doing the work and have factored that in. We also have a little baby and want another one so are letting ourselves in for months of hard work.
Good luck on your offer! I think its really exciting to have a project and sit in a house knowing you helped put it together and that you get to choose everything.

mamapants Sun 28-Apr-13 17:59:59

Sorry long moider. Above message should just have read good luck :-)

flow4 Sun 28-Apr-13 18:11:27

grin mamapants!
Thank you. The thought processes are interesting too... I've been turning everything over and over in my mind, just like that!
'Moider' is a great word! I haven't heard it before, but have just found it in the Urban Dictionary - it's perfect for me! grin

coffeewineandchocolate Sun 28-Apr-13 18:27:02

Good luck! If you need a rewire do it first- you may need to replaster/ redecorate after....

flow4 Sun 28-Apr-13 19:07:35

Thank you! And yes... Knocking walls down first, then electrics! One of the big advantages of staying in the area I've lived in for 20+ years is that I already know good builders, plumbers, electricians, etc... smile

AliceWChild Sun 28-Apr-13 19:15:23

Like moider. Never heard of it either. I'm a good moiderer grin

Flow I'll totally understand if you don't want to, I'm pretty private online, but I would love to see the houses if you'd be happy pming a link? Totally understand if not. But I like looking a houses and as mine is about to complete I need some vicarious house hunting grin

flow4 Sun 28-Apr-13 19:41:59

I'm nervous about sharing the Rightmove link Alice, but I'll PM you a couple of pics. smile
It's a very average ex-council semi with a much better-than-average outside and a fantastic view!

flow4 Sun 28-Apr-13 20:50:40

Hmmm... Possible spanner in the works... My son picked up a bit of gossip from someone close to the vendor, who said the house sold yesterday... hmm Not something the EA mentioned today... hmm

Does anyone know? Would they have to tell me if another offer had been accepted?

AliceWChild Sun 28-Apr-13 21:07:20

Oh no! Don't know I'm afraid. Would have thought they'd tell you but then they can be weasels. In fact wracking brain there was a house I called about and was told it had sold the day before so they didn't take my enquiry further. But I guess there's scrupulous and not out there.

MmeLindor Germany Sun 28-Apr-13 21:54:20

Could they be talking about your offer?

Ask me again in a month or two - we are going to start work on our do-er-upper next week and I can't wait.

I don't think your estimates are far out - we have similar prices. Rewire should be about £2 - 3k, based on our quotes.

flow4 Sun 28-Apr-13 22:35:04

Thanks Alice and MmeL. smile
Sadly not Mme, cos my son forgot to tell me yesterday, and I only made my offer this aft. I guess I'll just have to wait and see what happens tomorrow... confused

flow4 Mon 29-Apr-13 10:43:49

Is anyone around?! I've just had a call from the EA and it would be great to talk tactics with someone! grin

coffeewineandchocolate Mon 29-Apr-13 10:52:32

I'm here :-)

flow4 Mon 29-Apr-13 11:21:35

Thanks coffee smile Just got off the phone to my broker sorting mortgage options... confused

The EA says they've had another offer (and I know that's true) that's "not far off the asking price" of £120k (which may be an exaggeration: is £110 "not far off" in EA-Land, for instance?!). They ask if I want to increase my offer, which I do, but the Q is by how much? Shall I go back with a smallish increase - say £112 - or jump to £115? I don't think I should jump straight to £118/120, because I think that signals that I'm desperate for this house...

coffeewineandchocolate Mon 29-Apr-13 11:35:18

sounds as tho they are trying to play you off against each other. id leave it to the end of the day and give your best and final offer (make it an odd number like 114,650 so it sounds like you have had to scrabble about for the funds) then hold firm. a bidding war is the last thing you want. do you have any leverage? first time buyer? in rented? able to move quickly or work to their timescales? I would also highlight.

when we bought ours we gave a best and final and told them that we had another house we liked that we would offer on in 48 hours if they hadn't accepted. it worked! :-)

flow4 Mon 29-Apr-13 11:43:22

Thanks. smile I do also have some leverage - I have nothing to sell, so can work to their timescales (tho' I'm keen to be in by the summer hols if poss).
How do people hold their nerve with 'best and final' offers?!

coffeewineandchocolate Mon 29-Apr-13 11:52:11

it's hard but I concentrated on the fact that if it was the right place for our family it would work out. we also bought a house needing work so needed ad much cash add possible to complete it. good luck!

flow4 Mon 29-Apr-13 11:59:13

I like the idea that "If it's the right place for our family it will work out". I think I'll focus on that... smile
Increased offer now in. I won't give details, just in case call me paranoid anyone involved is watching!

PastaBeeandCheese Mon 29-Apr-13 12:04:09

Flow you're in an amazing position so hold your nerve. I'm willing to bet there is a good chance the other bidders aren't in such a strong position to proceed.

flow4 Mon 29-Apr-13 12:13:46

Thanks Pasta. I really, really, really want whisky now! (and I've not had a drink since February and barely one since October!) confused

I seem to have a knack of picking vendors who are not in a hurry to move, either. The last one hadn't found anywhere she wanted, and these ones aren't sure what they're doing...

I may have to go for a swim or something to deal with this huge rush of tension... But if I do that, the EA can't get back to me... confused confused

coffeewineandchocolate Mon 29-Apr-13 12:19:14

flow I think you live in the same area of the country as me. try not to worry- it's a buyer's market and there are lots of great affordable houses. if it's meant to be you will get it, if not you will get an even better one!

flow4 Mon 29-Apr-13 12:36:05

Thank you coffee. It's a great philosophy. I'm not very good at being laisse faire, I don't think! confused
I'm going to have a shower and see if that helps...

MmeLindor Germany Mon 29-Apr-13 22:10:22

oooh, exciting. Agree with the tactics - hold your nerve. If it isn't meant to be, then it is not the right house.

flow4 Mon 29-Apr-13 22:33:12

Well, I increased my offer to £115k and went out for the afternoon. confused I came back to a msg from the EA saying that the other vendor had made exactly the same offer, and did I want to increase mine slightly to give myself the edge? It was too late to call them back... Not sure whether that's a good thing or a bad thing!
Thankfully I've had friends round this evening, so I haven't had a chance to fret about it!

PastaBeeandCheese Tue 30-Apr-13 08:52:38

Do you know the position of the other bidder?

flow4 Tue 30-Apr-13 09:50:43

I have just spoken to the EA. They say the other bidder is in a position to proceed, has nothing to sell and has made a higher offer (they won't disclose what that is). Aaaaaaaaaaaaaarrrrrg!

AliceWChild Tue 30-Apr-13 12:35:03

Sounds fishy. Not that it's any help. Sounds like a nightmare

AliceWChild Tue 30-Apr-13 12:40:56

Actually saying that about fishy, I was just speaking to our agent (picking up keys so no need to lie to me now) and she said things are really picking up at moment where I am. Things on the market for ages are now selling. So could be true. I wouldn't make a decision on it not being so. Which is frustrating for you I know.

flow4 Tue 30-Apr-13 12:42:25

It feels like a nightmare Alice! confused
I know for sure there has been another offer, but I have no idea how much it is for or whether the bidders are really 'proceedable'...
Anyway, I have just increased my offer. No idea whether it will be enough. The EA said they would speak to the vendor and get back to me asap.
As I said, aAaaAAaaaaaAAAaaaarrrrrrrrrrg!

doglover Tue 30-Apr-13 12:45:03

Poor you, F4 sad. What a nightmare!

AliceWChild Tue 30-Apr-13 12:46:15

Remember at the end of that day, you won't remember these few thousand. And also remember I would never make a property tycoon. wink But sat on my camp chair in my new house, I don't regret not getting that extra few k off the asking price. But if I hadn't got it it would have meant it wasn't for me grin

flow4 Tue 30-Apr-13 12:52:52

Haha, thank you for the smile! I feel all jangly and adrenaline-fired. confused I want to go for a swim or something, but if I do, I won't be contactable (no signal in a pool-side locker!)
AaaAAaaaaaAAAaaaaaarrrrrrrrrrg!

MmeLindor Germany Tue 30-Apr-13 13:44:03

Strangely enough, I have noticed that a few houses around here that have been on the market for over a year, suddenly have Under Offer signs up, so perhaps things are picking up.

Don't get drawn into a silly bidding war. There is no point offering more, if it means you will have to spend more than the house is worth to get it how you want it. Walk away. There will be another house on the market, and you can wait.

flow4 Tue 30-Apr-13 15:57:52

Thanks MmeL. I set myself a ceiling before I made any offer (I won't say what it is or whether I'm at it yet, just in case) so I should be safe from that. I hope. confused

flow4 Tue 30-Apr-13 16:31:06

Wooooooooo HOOoooOOOOOO! grin grin

MmeLindor Germany Tue 30-Apr-13 16:38:53

And???? Did they accept?

flow4 Tue 30-Apr-13 17:18:14

Yup! (I don't whoop like that for nothin' y'know!) grin
I am feeling a bit shell-shocked tbh. I have spent so long not managing to buy a house that I can't quite believe I've succeeded!
And I can't get hold of my solicitor or my broker, so it doesn't quite feel real yet...
But still... grin grin

doglover Tue 30-Apr-13 17:41:40

EXCELLENT!! smile

PastaBeeandCheese Tue 30-Apr-13 17:46:08

At last I can wave my pom poms for you flow!

MmeLindor Germany Tue 30-Apr-13 18:02:44

Hurrah. That is brilliant. Congratulations.

flow4 Tue 30-Apr-13 18:23:09

Thank you all! I am suddenly exhausted - I guess the adrenaline that has been keeping me going has subsided!

mamapants Tue 30-Apr-13 18:44:37

Excellent news!!
So exciting.
While I was waiting to complete on the house we've just bought I drove up there every day! Neighbours must think I'm barmy!
You can join us properly on the renovation thread now!

flow4 Tue 30-Apr-13 19:43:48

So I can! Or maybe I ought to wait til exchange? And thanks!

AliceWChild Tue 30-Apr-13 19:55:13

Brilliant news! grin

I walked past my house every day too. Sometimes more than once. The neighbours started to say hello.

flow4 Tue 30-Apr-13 20:40:27

Thanks Alice. smile Well one of the good things about the house is that I used to job share with one of the people next door, in the other half of the semi! Nice people... So I know I won't have neighbour problems! grin

coffeewineandchocolate Wed 01-May-13 12:38:17

hooray! sorry just catching up after a fun few days with ds

flow4 Wed 01-May-13 19:16:09

It doesn't look so rosy today... sad
This morning the EA phoned me to say the other bidder had come back with a higher offer, and the vendor was inclined to accept it, unless I fancied raising my offer too...
I told them how annoyed I was, and said I felt misled...
When pressed, they admitted they hadn't actually yet received proof of funding/ability to proceed...
I told them I wouldn't even consider a raised offer until they had that, and they promised they were expecting it by the end of today, and promised to update me...
I came home to a message saying they had NOT received proof...

I'm really annoyed. Not only am I being messed around now, but also it means they misled me into raising my offer yesterday! angry angry angry

coffeewineandchocolate Wed 01-May-13 19:38:22

I think I would be retracting my last offer and offering the initial amount as a best and final offer. I would also be making it very clear why.....
EA's can be snakes and its why I didn't get in a bidding war...

flow4 Wed 01-May-13 20:08:23

Yes, I am definitely tempted. I am also tempted to go round and knock on the vendors' door and find out whether it's them messing me about, or the EA messing me or both of us about.

Someone told me today that EAs aren't regulated. I didn't know that. It means there's no-one I can complain to. Which is a shame, because I can prove they've misled me, either intentionally or thru negligence. angry angry

redwellybluewelly Wed 01-May-13 20:30:20

I'm really sorry you are being messed around. We had massive issues buying two houses after accepting a good offer on my house (DH had already sold his) and eventually had to move into rented.

With the first house EA accepted our offer and we had a structural report on a crack in the wall, cost involved was deducted from our offer but vendors wished to proceed. Two weeks later the EA showed around another couple and they put in a bid and gazumped us. Then the next house we went round and round in circles, huge amount of work required, breach of planning legislation which our solicitors said was costly to sort out and I eventually informed the EA we either exchanged with the lower offer or pulled out. We pulled out.

I've just finished my dinner in my light bright kitchen watching a mummy and daddy blackbird build a nest in the garden while dd sleeps in her bedroom which is perfect. Honest. The right house will come up and you will have a home. Our house needs work and has had work done in the past eight months, but its been our home since the day we got the keys.

AliceWChild Wed 01-May-13 20:35:08

Weasels!

flow4 Wed 01-May-13 22:24:35

Thank you red smile And yes, Alice. At best! angry

flow4 Wed 01-May-13 23:26:06

Turns out you can complain about EAs:
link to OFT site

coffeewineandchocolate Thu 02-May-13 07:43:22

have you seen any other properties you like that you could use to say you are sick of the messing about and will go with that one

flow4 Thu 02-May-13 07:55:12

Not really coffee. Which is not to say one won't come up...

I'm planning to speak to the branch manager today and make it clear that I have proof (recorded answer phone messages) that they misled me and have breached the Estate Agents Act 1979.

I am still considering going round to the vendor. One of my good friends is best mates with his sister, and she reckons he's a decent man who'd be horrified by what's going on...

AliceWChild Thu 02-May-13 08:00:33

Sounds like a good plan flow

AliceWChild Thu 02-May-13 08:01:18

And the extra they defrauded from you can come out of their commission grin

flow4 Thu 02-May-13 08:05:44

If they're on 1%, like most round here, it won't even begin to cover it Alice. My final offer was £10k over my first one, and their commission will be £1.1-1.2k.

AliceWChild Thu 02-May-13 08:39:33

Weasels! It's a impossible position for both you and the vendor. Not as in sale can't happen, but as in there's nothing that can be done to put it right by you both. They can't unknow what you would pay. Weasel EA!

flow4 Thu 02-May-13 16:48:56

EA just called to say that the other bidder's finances have been confirmed, they have made a higher offer, and the vendor has accepted it.
I've been bloody gazumped, haven't I?! sad angry

Piffpaffpoff Thu 02-May-13 17:59:57

Sounds like it. sadangrywine

doglover Thu 02-May-13 18:09:36

Oh no, F4 sad. I'm so sorry to hear that. wine

flow4 Thu 02-May-13 18:57:48

Thanks. I am really, really, really, really fed up about it. sad
And cross. angry

coffeewineandchocolate Thu 02-May-13 19:19:52

sounds like you marry be better off out of it. you will find an amazing house for your family eventually

coffeewineandchocolate Thu 02-May-13 19:22:06

May not marry!

flow4 Thu 02-May-13 19:35:13

Thought you were proposing for a moment there coffee! wink

mamapants Thu 02-May-13 19:44:51

Oh no!! So sorry to hear that.
It was probably a rubbish house anyway no where near as nice as the one you'll end up with.
We missed out on a house we liked as we didn't put an offer in quick enough as I was 39 weeks pregnant when we found it. And then we found our dream house that was everything we wanted. Am sure same thing will happen for you!

coffeewineandchocolate Thu 02-May-13 19:49:01

gosh no! planning weddings is worse than house buying! grin

AliceWChild Thu 02-May-13 20:23:07

Boo. It was a rubbish house anyway. There'll be a better one grin

flow4 Thu 02-May-13 20:23:18

We could just elope and get married on a beach somewhere sunny...? wink grin
__This is called putting a brave face on. I could cry really.--

camtt Thu 02-May-13 21:30:50

of course, accepting an offer doesn't mean the vendors will manage to sell the property. We found a house we really liked, stretched ourselves as far as we felt comfortable with our best and final offer and were disappointed to hear that another offer 10k higher had been made the same day but we let it go rather than stretch to a point we felt uncomfortable with. 6 weeks later the EA called to say the first sale had fallen through. We bought the house at our original best and final offer but if we hadn't, something else would have come up in the end.

flow4 Thu 02-May-13 22:55:19

Thanks smile That's good to hear camtt smile I've spent all eve looking for other houses. Not found any I'd want to live in...

PastaBeeandCheese Fri 03-May-13 06:38:37

Aaah flow. That's rubbish news.

I'm really sorry.

coffeewineandchocolate Fri 03-May-13 07:41:11

there willl be more after bank holiday. people will be spending the bank hol tarting up their houses to sell grin

flow4 Fri 03-May-13 08:24:10

Thanks Pasta and coffee. I am feelings very fed up about it this morning. Funnily enough, I think I feel worse because this was not the 'perfect' house, but one with loads of potential, so I spent a very long time working out what needed to be done, and finally committed myself to taking it on. In the end, I might be relieved not to have... But at the mo I feel miserable. sad This is a semi-rural area too, and houses that I like and that meet our needs and I can afford are really rare.

I've got a really horrible day ahead now too... sad

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