DH (after many years of hard graft) received a substantial amount of money when the business he is a very junior partner in was sold.
We debated long and hard about how to invest this money. There is no point in leaving it banks as it won't earn any interest and we eventually came up with the idea of buying a small flat in a very trendy, party-time seaside town that we love to visit. We could use it at weekends, share it with our DDs and various family members and friends and it would be a capital asset we could sell when we are older.
We found a tiny but beautiful conversion flat in a great location and offered the asking price. The survey threw up various minor issues which have been resolved but there is one major flaw in that alarge window needs replacing as it is warped and leaking. It is a grade 2 listed building and any replacement windows have to be handmade in materials and the style of the original Windows. The vendors ( a property development company based 200 miles away) have been delaying and prevaricating about this, and the estate agents seem unable to communicate well with the vendors or with us.
We are due to exchange and complete tomorrow and I was despairing of ever getting the window fixed so I proposed today that we could either reduce our offer by 1% and fix the window ourselves OR retain 1% of the purchase price until the window is fixed. I waited all day for an answer and at 6.30pm the estate agent emailed me to say she didn't have a response from the selling company and would be away for the next 2 weeks.
We cannot delay the purchase beyond next week as the stamp duty rules change then and would add £9000 to the cost of the flat, but I feel if I just bite my tongue and complete at the asking price I am being mugged off.
Should I go ahead and buy what really is a dream property and risk having to replace the window at our own expense at some point or stick to my guns and risk losing the flat?
just for the record DH loves the area and the flat as much as I do, but is very busy at work and is leaving this one up to me.
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Buying a flat - should I proceed
14 replies
liinyo · 23/03/2016 21:21
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