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What would you do?

1 reply

suffolkblonde29 · 15/08/2017 21:15

We're having a total nightmare trying to buy a family home.

We moved out of London 18 months ago and rented out our flat, renting in East Anglia and getting new jobs etc. We now have an 18-month old and are renting a tiny little cottage which is completely unsuitable - nowhere to park, store toys etc.

We put our flat in London up for sale in January and found a buyer after 6-8 weeks. It was all just about to exchange and we found a new house to buy. Then the buyer pulled out at the last minute (without ever actually telling us) because her survey discovered that the lower ground floor bedrooms need re-tanking at a cost of £15k.

We've tried putting our flat back on the market at a lower price to see if someone is prepared to do the work but after 20 plus viewings it's not looking likely.

Our only options seem to be to do a part exchange. This would mean losing about £35k but just about being able to afford to move into the lovely family home we'd found.

Or we put up with where we are living now (or rent somewhere else) and accept that we'll have to do the work on the flat (it'll take a couple of months) and then start all over again trying to find a buyer.

What would you do?

OP posts:
ScrubbyGarden · 16/08/2017 09:43

Is the half way option dropping the price again by, say, 20k? That would still leave you up to 15k better off.

I guess try to remember the big picture- what will allow you to achieve what you want? Is the place you are buying somewhere you will stay for a long time, and worth going above and beyond for? Can you still make it happen if you take the part exchange hit?
Or, if you do the work, present the flat beautifully and put it back on, can you potentially make enough back to get a better place in east Anglia?

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