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House Hunting Hell

5 replies

MadCatGirrrl · 07/07/2014 14:36

Hello. My first post, so a little nervous, but I've seen so much fantastic support and information on MN . .here goes:

My partner and I are trying to buy a house in London (zone 2). We had an offer accepted on a house in Camberwell approx 2 months ago, and the vendors have only just found a place to buy . .I'm reeling from the survey we've had done on the house (major damp, structural issues with the roof) and the aggressive EA saying that despite the overly-heavy roof which needs bracing (and the fact that the property market has cooled in Camberwell), the vendors will not budge on the price. The EA withheld this info at the viewings (illegal) and had only let us view the house twice in 2 months, the second time after intense badgering, and even then we could only view with the current owners in situ (so unable to have a good nosey around to see what needs doing). The EA in question overprices most properties as I am aways getting emails saying that they have properties with price reductions - I guess my question after my rant is - do we bail? My OH and I are old, so we are cash buyers (we know we are incredibly lucky), but have in the meantime seen a house in Willesden (bigger house, smaller garden, on the tube rather than Overground), with a more amenable EA. Better bet? I'm in a world of pain and seem to have aged 10 years in 3 months. I'd love advice on areas and how to deal with astonishingly evil EA's.

Thanks in advance. Arrgggg! x

OP posts:
HamAndPlaques · 07/07/2014 14:45

It sounds like you want to bail - perhaps it would help you to decide if you made a list of the reasons not to walk away?

The market has definitely cooled in Camberwell so you have probably agreed a top whack price.

Selks · 07/07/2014 14:50

My advice is do not buy the first house that needs loads of work on it. Pig in a poke, remember that saying? If you are older, and have pain problems, get a house that is not going to be demanding to cope with.
The aggressive EA would set my alarm bells ringing to be honest, and would put me off. I hate to say it but because you are older maybe they feel they can bully you into a sale Angry. Don't fall for it.
Good luck.

Apatite1 · 07/07/2014 14:51

Market is cooled in south east london, all over. Just seen a house we looked at 2 months ago reduce its price by 100k. Lots and lots of price reductions, they were asking for crazy money before. We nearly bought in May. Very glad we didn't now as the market is in flux.

I'd wait for the house you really want rather than the one that's good enough, if you can wait. Don't let EAs muck you about unless you really need to move/love the house so much that you can't live without it.

MadCatGirrrl · 07/07/2014 15:09

Thank you! You have confirmed my / our thoughts. I needed some advice that was outside my little life! Willesden it is!

OP posts:
lawlie · 07/07/2014 15:14

If you are unsure and in a position to get out, then do. It sounds like you want to, and the only thing holding you back is it feels "dishonourable" - don't. The survey has shown things which need fixing or at least the price lowered and if they are unwilling to budge, and you're not dying about the house, then just walk away.

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