Buying a home and don't know how anything works

[hash tag]

It is NOT out of your hands yet. The other side can say yes or no. You can chase again tomorrow. You can accept or decline what they say.
You can still proceed or pull out....you are, I would hope at this stage, the only buyer on the table for the property, a cash one at that.

 

[bellaozzydog]

Freeholders are the council.

Guessing I won't hear today as it's after five. Out of my hands now really.

hang in there !!

 

[hash tag]

Roof..bit late now I guess but has the place got a pitched roof and has it got bits missing or are broken, covered in moss? Is it bowing slightly? If so it could need repair or replacing.

 

[miss direct]

Roof..bit late now I guess but has the place got a pitched roof and has it got bits missing or are broken, covered in moss? Is it bowing slightly? If so it could need repair or replacing. View attachment 273650

It is a pitched roof, but a bit difficult to see clearly as a four storey building.

 

[miss direct]

Not heard anything yet. Does it really take that long to make a decision? I'm going to let it go to voicemail when the phone does ring, so I can think about my next move.

 

[miss direct]

Fed up. Can't move on or do anything at the moment. Been looking up flats to rent and rooms to rent as a back up plan. If only Turkey wasn't on the red list, I would go back there if the whole thing falls through.

 

[Brainaddict]

Hang in there md, unfortunately everything you've experienced is not particularly abnormal for a house purchase, particularly leasehold (though some people get lucky with it being simple), but people do get through it. I know it sucks but if you pulled out and went for another property because of the process being a pain it could be similar next time.

In a sane system all the information that you now know would be provided to you as soon as you showed interest in the property. But it is not a sane system. At some point you need to try to sit down in a calm space with all the new information you have and run through your decision again to check whether it is still right for you. But I would say try not to be repelled from this property by the process itself - you may still get the home you want out of it.

 

[miss direct]

I've pretty much justified to myself that if they agree to the reduction, I'll continue with the purchase. If they don't know, not sure.

Just wish they would hurry up and decide. I have three weeks to find somewhere to live.

 

[cybershot]

Chase the estate agent. It don’t take 24 hours to decide on a £3k reduction. Assuming they got through to them. I don’t think they leave voice messages with figures. Would have just asked them to call back to discuss. Chase the agent.

 

[miss direct]

Ok, so had a message. They aren't willing to drop £3,350 but are willing to reduce by £1850. And apparently the boiler has been serviced and there is now paperwork with their solicitor to that means. Should I just accept? Not sure I can take much more of this.

 

[prunus]

Ok, so had a message. They aren't willing to drop £3,350 but are willing to reduce by £1850. And apparently the boiler has been serviced and there is now paperwork with their solicitor to that means. Should I just accept? Not sure I can take much more of this.

Only you can decide, but for what it’s worth I would say yes and move forward. The process is never fun, almost always painful, and if it makes you feel any better about it the hoops and tribulations you have had to dance through are probably on the lighter side of the hassle curve in UK property transactions.

The boiler issue isn’t really here nor there in the grand scheme of things (though it’s nice if it’s been done). The ‘major works’ issue is just part and parcel of buying leasehold, especially where an organisation (as separate from an individual) is the freeholder. I think you said that no works have actually been planned, they’re just assessing at some point in the future if something will be required. This is effectively the case wherever you buy, even freehold - at some point in the future some money may need to be spent on maintenance. Will need to be, ultimately, in fact.

If you like the place, and the block, and the location, and would like to be living there, then don’t let the pain and perversity of this process put you off.

Just my opinion of course. But if you do go forward soon all this will be in the past and fading and you’ll be in your new place happily domesticating it.

 

[kebabking]

so had a message. They aren't willing to drop £3,350 but are willing to reduce by £1850. And apparently the boiler has been serviced and there is now paperwork with their solicitor to that means. Should I just accept? Not sure I can take much more of this.

I'd be tempted to go for it - £1800 will put you in a nice flat for a few months while the sale goes through, which will remove a lot of the stress out of the whole episode.

To a large extent, if your preferred location and budget are what you've offered for this place, you're going to have these issues with every place that comes up. Some may be better, and some may be worse, but you're not going to see anything radically different if you pull out and start it all again.

By all means do a Rightmove search for somewhere quite different, but if you're looking for a flat in Sheffield, it's always going to be leasehold - and the council is probably the best freeholder you're going to find - and the place is going to be similar.

 

[miss direct]

Said yes. Estate agent says hopefully we can push to get this through by the end of the month. If not, not the end of the world. (Although I will be flabbergasted if everyone involved manages to do whatever needs to be done in two weeks..)

Am I nearly there now?

 

[Elpenor]

Work out what £1850 can get you - in terms of furnishings, decoration, the major works, a holiday etc…

Also - by giving you a reduction it shows they recognise you’re their only option and that they still want to make a deal.

 

[Glitter]

Looks like my sale is fucked. Stupid fucking arseholes at the bottom of the chain

 

[prunus]

Said yes. Estate agent says hopefully we can push to get this through by the end of the month. If not, not the end of the world. (Although I will be flabbergasted if everyone involved manages to do whatever needs to be done in two weeks..)

Am I nearly there now?

Well you’re back to where you were when you had a price agreed before!

Yes, every hurdle hurdled is one fewer hurdle still to hurdle. Plus I think all the responses to queries are in? (The last one was the charge/restriction*, which i think related to the boiler - are the undertakings in place for this to be satisfied on completion? I think I read yes on that too, if not worth checking - that above is the exact question to ask ).

Have you signed contract and TR1 yet? Assuming they are finalised. That is the next step (barring anything else coming up - which it’s worth steeling yourself for the possibility of, even now). Then agree completion date with the other side. Then date and exchange of contracts (at this point you want buildings insurance in place if required). Then completion! All the above could be done in an afternoon. It won’t be - but 2 weeks is not impossible if everyone pulls their finger out. The other side need to communicate the price change to their solicitor or that will gum up the works for a couple of days. You should do the same to yours if you haven’t already. Check if there are any more queries to come back (and the status of the charge).

But nearly there, yes

* A restriction is an entry on the land registry file for the property that basically says no-one can make any changes to the file - including change of ownership, adding a mortgage and so on - unless certain conditions are fulfilled - usually the condition is the permission of the restriction holder, which is usually given on an undertaking (legally binding promise from a lawyer) that they will be repaid from the proceeds of the sale. Just as I think you asked above.

 

[Elpenor]

She won’t need buildings insurance as it’s a leasehold

 

[Riklet]

Disclaimer.. just my view and I am not expert but...

Tell them to fuck off IMO. Your solicitor and the counsel have advised you about potential cost, you estimate in region of 10k with carpets etc bla bla... 100k or you're walking away and they have until x to decide.

You are a dream buyer and they are stuffed if they remarket. Dont feel too sorry for them... theyre making 50k from doing fuck all aside from living in that flat.

It will just be the estate agent telling them to say half way, not these daftie vendors.

Edit: ignore youve already accepted. 1800 is still nice!

 

[Cid]

Only you can decide, but for what it’s worth I would say yes and move forward. The process is never fun, almost always painful, and if it makes you feel any better about it the hoops and tribulations you have had to dance through are probably on the lighter side of the hassle curve in UK property transactions.

The boiler issue isn’t really here nor there in the grand scheme of things (though it’s nice if it’s been done). The ‘major works’ issue is just part and parcel of buying leasehold, especially where an organisation (as separate from an individual) is the freeholder. I think you said that no works have actually been planned, they’re just assessing at some point in the future if something will be required. This is effectively the case wherever you buy, even freehold - at some point in the future some money may need to be spent on maintenance. Will need to be, ultimately, in fact.

If you like the place, and the block, and the location, and would like to be living there, then don’t let the pain and perversity of this process put you off.

Just my opinion of course. But if you do go forward soon all this will be in the past and fading and you’ll be in your new place happily domesticating it.

I'd be tempted to go for it - £1800 will put you in a nice flat for a few months while the sale goes through, which will remove a lot of the stress out of the whole episode.

To a large extent, if your preferred location and budget are what you've offered for this place, you're going to have these issues with every place that comes up. Some may be better, and some may be worse, but you're not going to see anything radically different if you pull out and start it all again.

By all means do a Rightmove search for somewhere quite different, but if you're looking for a flat in Sheffield, it's always going to be leasehold - and the council is probably the best freeholder you're going to find - and the place is going to be similar.

Couple of good non panic-inducing replies there.

Honestly for a two bed ex-council property, assuming you're in one of the areas I think you're in, I'm kind of surprised they're still that cheap. My one bed flat cost more than your place. And I don't have a garden.

Touch wood the rest of it goes a little smoother.

 

[cybershot]

Agree really with what prunus and kebabking have said.

They bought the carpet issue on themselves and hopefully that pays for getting the place re-carpeted. Everything else is part and parcel of owning a leasehold in a flat, and the boiler as long as it's been serviced every year should be fine for several more years without bother fingers crossed, you may even find you don't have it on much if you're above someone else as you'll get some free heat rising up from the floor below.

Now back to solicitors to push push and push, keep hassling the estate agent to get on the backside of the sellers solicitor or the sellers themselves if their solicitor is waiting for them to fill in docs.

The agent should be telling both solicitors a new price has been agreed, but cover your own arse and tell them yourself.

I'm afraid as you've found out hard this week, you're in the need to nag to get things done phase. Every time it gets to 24 hours since you last had any kind of comms. Chase the party involved.

 

[miss direct]

Couple of good non panic-inducing replies there.

Honestly for a two bed ex-council property, assuming you're in one of the areas I think you're in, I'm kind of surprised they're still that cheap. My one bed flat cost more than your place. And I don't have a garden.

Touch wood the rest of it goes a little smoother.

Thanks Cid. It's really an excellent location as far as I'm concerned!

 

[miss direct]

New contract (with new price) and transfer being sent to me tomorrow. Solicitor ignored my request to set a date (again).

 

[miss direct]

Will read through the very long document from the council as bedtime reading tonight. There was something on there about pets not being allowed, which is bizarre because the previous owners had an enormous dog, and going down the street I have seen multiple cats in windows and people leaving homes with dogs.

(I am probably not going to get a dog but may get a cat at some point)

 

[Puddy_Tat]

(I am probably not going to get a dog but may get a cat at some point)

if the cat decides to adopt you and moves in, then it doesn't count

 

[WouldBe]

if the cat decides to adopt you and moves in, then it doesn't count

That's the cats fault not the fault of miss direct .

 

[hash tag]

If you drop this now you will be right back at square one again
I would have been inclined to accept the vendors counter offer on the condition that they complete by a pre-determined date.

 

[quimcunx]

If you drop this now you will be right back at square one again
I would have been inclined to accept the vendors counter offer on the condition that they complete by a pre-determined date.

I would be tempted to suggest you make this suggestion yesterday!

 

[quimcunx]

Good luck miss direct.

Sorry for your chain collapse, Glitter.

 

[hash tag]

I would be tempted to suggest you make this suggestion yesterday!

I would have done - hopefully it might serve some use for others

 

[miss direct]

As I'm currently away, I thought I might ask the estate agent if I can get access to the flat again, and send two male friends over to measure up for carpets and estimate paint - but really just to make sure nothing else strange has happened in there. Once the contract is signed there's no going back, is there?