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I'm an idiot

(110 Posts)
AnuvvaMuvva Wed 18-Dec-13 22:47:05

Split from XH a few years ago and have been living in the marital home with the DC. When it was time to apply for DS1's secondary school, decided to make the move back to my family's town so we'd be there "for good".

Put house on market - 40 viewings, 7 offers, accepted the second highest at 50k over asking price. Unbelievably surprised and happy.

That extra money gave me the real possibility of buying a place, rather than moving back in with parents and saving up. All good.

Found a 3-bed place just 2 minutes' walk from my parents' house. Ugly from the front, on a busy main road near a garage and a speed camera (!) but quite nice inside. TINY garden overlooked on all sides. Walking distance to the schools. Put in 3 offers until they finally accepted one at £5.5k under asking price.

Paid £300 for mortgage broker to get me a mortgage. Paid £640 for a full structural survey. Paid £300 to solicitors for search fees.

Am now having second thoughts. sad The house has been on and off the market since Nov 2011. Rented out when not on market. They've had previous offers which have dropped out, often days before completion.

Everyone I meet in that town (via a Facebook group) seems to have viewed that house at some point and disregarded it. It's a nice town, but the house is in a row of about 10, all 70s built, that just seem a bit... rough. Which is the only reason I can afford it, tbh. It's about £50k less than other 3-beds.

I've spent SO MUCH MONEY because I got all excited and just HAD to secure the house... And now I'm not sure. It's £235k FFS! Cheap for the town but in all other senses it's ALMOST A QUARTER OF A MILLION.

Survey came back fine, except he advised that the double-glazing was shot (misting), and to get vendors to give a legal declaration of any previous noise problems - the houses have no sound-protection and he said a "large unaccompanied dog next door barked throughout the viewing".

What do I do? If I pull out of this, I can move into my parents' house and be a cash buyer with a mortgage AIP when my house completes. That's not progressing as fast as I liked either -- they had a mortgage valuation and a couple of things on that have led them to book a buildings survey next Monday.

I've never done this before and feel I've been too impulsive and rushed into things. And I'm worried my solicitor is going to think I'm a time-wasting idiot if I back out.

I'd be walking away from a cheap bird in the hand for a prettier, nicer two in the bush that May or may not come on the market next year at my price.

Don't know what to do. Sick of thinking about it all, tbh. And spent ALL my money on a house I'm not sure about! Only have £350 left till I get paid. sad

HaveToWearHeels Mon 23-Dec-13 16:28:36

She sounds lovely OP and it is nice to sell your home to someone who loves it. I thought you might have to offer the asking price. We got into a bidding war on one house, it was on for 235k it went up to 250k which is when we dropped out as we were not willing to go over the stamp duty threshold. As much as we loved it it wasn't for us to live in and we withdrew from the madness.
The vendor sound a genuine vendor so hopefully it will all go smoothly.

Preciousbane Tue 24-Dec-13 14:30:11

Message withdrawn at poster's request.

pippop1 Wed 25-Dec-13 10:57:00

I may be a cynic but I wouldn't get too friendly in case the survey throws up something major and you need to ask for a reduction in the price to in order to get it fixed.

Make sure you have the rolls royce of surveys. With a house I'd go for a full structural survey personally. Good luck OP. Very exciting.

AnuvvaMuvva Sat 28-Dec-13 12:30:02

Thanks for all your posts! I'm really excited. Praying everything proceeds without too many hitches. I've already mentally moved in, redecorated, given the house a name and fixed up the back garden...

ElsieMc Sat 28-Dec-13 13:35:14

Walk away. Your instincts are warning you here, as was your surveyor. I totally agree £1200 is a lot to lose, but better than making a terrible mistake that makes you miserable then having to try and get rid of the house again, possibly at a loss. A large, noisy dog barking will drive you mad and lead to a fall out with your neighbours.

Cut your losses. It does not matter about offending anyone else. You will find something better after Christmas.

ElsieMc Sat 28-Dec-13 13:46:17

Sorry, didn't read all your thread. Congratulations - I hope all goes well for you.

AnuvvaMuvva Sun 29-Dec-13 00:21:06

Thank you!! Xx

poocatcherchampion Sun 29-Dec-13 19:42:14

flowers when you move in if it has all gone smoothly. and I hope it does!

AnuvvaMuvva Sun 29-Dec-13 19:57:25

Thank you! Me too! Just need her to find a lovely house to buy with her partner, quickly! smile?

pippop1 Mon 30-Dec-13 16:43:17

People will put their houses up for sale early next year so she will find one soon!

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