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Thread: The House Thread

  1. #1351
    Senior Member Andy's Avatar
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    6 months of fannying around trying to move house and its all fallen through back to square one and cost us a small fortune.

    Property buying and selling in this country is a complete joke.

    I will probably just stay where I am for a few more years now. I'm not sure I can go through it all again and I doubt I'd be able to get everything setup in time before the stamp duty freeze finishes anyway.

  2. #1352
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    What happened?

    The English system sounds a bit mental.

  3. #1353
    The Artist Formerly Known as Taz
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    100% agreed. The unnecesary hoops I've had to jump through in last 3 months are eye-watering. It's bureaucracy at its peak.

  4. #1354
    Now in technicolor Pen's Avatar
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    Quote Originally Posted by Andy View Post
    Property buying and selling in this country is a complete joke.
    If this thread is anything to go by, I really can’t understand how you’ve fucked it up so badly. Every step seems like a massive pain in the arse.

  5. #1355
    Senior Member Jimmy Floyd's Avatar
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    It took me 7 months of pain and that was pretty much plain sailing with a new build. My brother's been trying to buy a place in Bristol this year and ended up having to move back to Surrey to stay with my parents because the seller has fucked up so much for so many months. The only reason he's been able to do that has been a) the fact that our parents are around and b) the pandemic meaning he and the mrs can work from there. Without that they would be having to rent a staging post endlessly until the seller and both sets of lawyers chose to pull their finger out of their arse.

  6. #1356
    Won the Old Board Lewis's Avatar
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    I made an offer on another (better) flat today, and that divvy woman re-appeared - having ignored me for two weeks since I DONNED her with her own words - to tell me we can proceed now because she has found somewhere. Oh right.

  7. #1357
    Senior Member Spikey M's Avatar
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    Have you replied?

  8. #1358
    Won the Old Board Lewis's Avatar
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    I will when I've agreed a price on this other one so I can send her a picture of my arse.

  9. #1359
    Senior Member Spikey M's Avatar
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  10. #1360
    Administrator SvN's Avatar
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    I had a similar experience when we were looking for our first house. We made an offer on a place that was our max budget (£12k below asking price) and it was rejected fairly quickly. So we moved on, and then a week later the estate agent phoned to say she'd changed her mind and accepted it. Brilliant, so we started the process of applying for the mortgage, etc. and a few days later she changed her mind again and rejected it.

    Fast forward 7 days and we get a call from a very sheepish estate agent tells us she's changed her mind AGAIN, and is now willing to accept our offer. We obviously told her to get fucked, and ended up buying a different place.

    A year later I checked on Zoopla and it sold for £10k less than we offered. Needless to say, I had the last laugh.

  11. #1361
    Won the Old Board Lewis's Avatar
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    Quote Originally Posted by Lewis View Post
    I will when I've agreed a price on this other one so I can send her a picture of my arse.
    Offer accepted. Unlucky treacle.

  12. #1362
    Senior Member Spikey M's Avatar
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    Please post her reply.

  13. #1363
    Senior Member Lofty's Avatar
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    Nothing better than fucking over some greedy bastard on a deal of that magnitude. I hope she has an epic chimp out.

  14. #1364
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    People who buy houses are divvy cunts at the best of times but the current situation is bringing out the best of them.

    Had a woman today bitching because she’s had to come up with more deposit for her house purchase. Reason being she’s gone 20k over what I told her what her top budget is. Fucking idiot, that tells you what you are dealing with in the general population.
    Last edited by Luke Emia; 17-11-2020 at 09:29 PM.

  15. #1365
    Senior Member Lofty's Avatar
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    When we were house hunting we saw a nice one in a good area, listed for £160k but on for over 2 years, it was 'cheap' for the area but hadn't seen fresh paint since the sixties, infact the kitchen appeared to have the original sixties oven etc still installed. We offered £145k and were rebuffed immediately and essentially told it was asking or nothing as they had the asking offered once before but it fell through. Given we estimated the refurb to be coming in around £30k we sacked it off. Still for sale last time I checked

    Similar story with another house we offered on, mugged us off and then never sold in the end (we are friends with their neighbours so know it never sold).

    As you say can only imagine it being even worse during this shit.

  16. #1366
    Won the Old Board Lewis's Avatar
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    This one apparently had two sales fall through in March and August, both for more than I have offered, and both due to the buyers losing their jobs. The next Chinaman I see is getting a high five.

  17. #1367
    Senior Member Spikey M's Avatar
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    Has the bint from property 1 replied? Or are you leaving her hanging?

  18. #1368
    Won the Old Board Lewis's Avatar
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    I messaged her six hours ago and she hasn't replied.

  19. #1369
    Isn't he banned? Baz's Avatar
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    She's swinging from the light fitting in what could have been your new ensuite.
    I'm a twit

  20. #1370
    Won the Old Board Lewis's Avatar
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    Her flat is no longer 'under offer' so she is just ignoring me (again).

  21. #1371
    Senior Member Spikey M's Avatar
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    Did you send her the picture of your arse?

  22. #1372
    Won the Old Board Lewis's Avatar
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    I couldn't get the angle right.

  23. #1373
    Senior Member Spikey M's Avatar
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    Any angle is the right angle #squats #aubergine

  24. #1374
    Administrator Kikó's Avatar
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    Quote Originally Posted by Lofty View Post
    When we were house hunting we saw a nice one in a good area, listed for £160k but on for over 2 years, it was 'cheap' for the area but hadn't seen fresh paint since the sixties, infact the kitchen appeared to have the original sixties oven etc still installed. We offered £145k and were rebuffed immediately and essentially told it was asking or nothing as they had the asking offered once before but it fell through. Given we estimated the refurb to be coming in around £30k we sacked it off. Still for sale last time I checked

    Similar story with another house we offered on, mugged us off and then never sold in the end (we are friends with their neighbours so know it never sold).

    As you say can only imagine it being even worse during this shit.
    Buying a house at £160k 😂

  25. #1375
    Senior Member Lofty's Avatar
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    Bought a 3 bed 2 reception semi for £130k

  26. #1376
    ram it up your shitpipe Giggles's Avatar
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    I think he forgot to put the ‘only’ in there.

  27. #1377
    Senior Member Spikey M's Avatar
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    In Preston.

  28. #1378
    Senior Member Lofty's Avatar
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    South Ribble actually, recently voted best place to live in the UK. My moving in obviously got it over the line.

  29. #1379
    Won the Old Board Lewis's Avatar
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    I had a look at what I could get back home for my money and it's tragic.

  30. #1380
    Won the Old Board Lewis's Avatar
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    I am meant to be buying a flat for x amount, but the bank has said that their independent valuation has valued the flat at about five per cent less than what I am paying. The estate agent and the mortgage advisor both think they need their heads checking; but fortunately, I can appeal. The way I do this is to send them details of comparable flats for what I intend to pay and to demonstrate that the actual value is what I think it is.

    Are these appeals ever successful? Because if they are then that means they will be siding with my valuation against the supposed professional valuers. And if they do that, why is this even happening?

  31. #1381
    The Artist Formerly Known as Taz
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    Don't ask questions to try and make sense of the situation, just keep pumping time and money into it until someone at the end of the line says 'yes' or 'fuck off'.

  32. #1382
    Senior Member Spikey M's Avatar
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    Is your deposit enough to cover the 5% they're undervaluing it by? If so, it shouldn't matter to them anyway.

  33. #1383
    Won the Old Board Lewis's Avatar
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    No, and it's a fifteen per cent deposit, so making the difference up would take a bit of time. They actually referred to its 'real value' as well, as if Karl Marx went round and did a time and motion study.

  34. #1384
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    Quote Originally Posted by Lewis View Post
    I am meant to be buying a flat for x amount, but the bank has said that their independent valuation has valued the flat at about five per cent less than what I am paying. The estate agent and the mortgage advisor both think they need their heads checking; but fortunately, I can appeal. The way I do this is to send them details of comparable flats for what I intend to pay and to demonstrate that the actual value is what I think it is.

    Are these appeals ever successful? Because if they are then that means they will be siding with my valuation against the supposed professional valuers. And if they do that, why is this even happening?
    It's unlikely the valuer will change their mind. Really the mortgage advisor should be doing this not you, that's their job. Are the mortgage advisor and estate agent linked? What has happened here is the estate agents have over valued it, you should be going back to them and telling them your offer is what the lender has valued it at and they can take it or leave it.

  35. #1385
    Won the Old Board Lewis's Avatar
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    If the valuer can show me a comparable flat for their value to buy instead then I will, but they won't be able to, so their value is wrong.

  36. #1386
    Administrator SvN's Avatar
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    Not the same, but similar.

    We recently remortgaged, and our valuation was £9k away from the 80% bracket, which represented about a £200 per month saving.

    The guy we were speaking to from the bank told us to appeal the valuation and it would almost certainly get accepted.

    We just sent Rightmove links to 3 comparable properties within 1/2 mile that went above our proposed valuation and it was accepted within 24 hours.

    Seems like such a joke of a process if it's that easy to appeal. Not that I'm complaining.

  37. #1387
    Senior Member Spikey M's Avatar
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    It's just so they can justify all the dickhead fees you get lumbered with. The solicitors are even worse. Weeks of fucking about trying to sort nonsense. They spent a week coming up with 'questions' for us before we last moved and it ended up just being 'can you paint the walls?' (Lol, fuck off) and something else about garden upkeep (it was a 2nd floor 1 bedroom studio flat with a communal garden already maintained by the management company ffs).

  38. #1388
    Senior Member niko_cee's Avatar
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    Valuations always come in low. They're an absolute waste of time and the durwoods that do them try to justify their existence (and absurd cost) by having an opinion which differs from the actual evidence provided by the market (ie the price you are paying).

    They really ought to be done without prior knowledge of an agreed price.

    lol at the idea of using a survey opinion as the basis for an offer.

  39. #1389
    Senior Member Andy's Avatar
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    Quote Originally Posted by Lewis View Post
    I am meant to be buying a flat for x amount, but the bank has said that their independent valuation has valued the flat at about five per cent less than what I am paying. The estate agent and the mortgage advisor both think they need their heads checking; but fortunately, I can appeal. The way I do this is to send them details of comparable flats for what I intend to pay and to demonstrate that the actual value is what I think it is.

    Are these appeals ever successful? Because if they are then that means they will be siding with my valuation against the supposed professional valuers. And if they do that, why is this even happening?
    We had an appeal earlier in the year that was unsuccessful. Supposedly its roughly a 5% chance of getting changed as it needs the surveyor to admit they are wrong. Its a load of bollocks.

    We appealed and it took the surveyor over a month to make his decision.

  40. #1390
    Won the Old Board Lewis's Avatar
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    The estate agent said it's happening all over at the minute, so he's on the case.

  41. #1391
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    Quote Originally Posted by Lewis View Post
    The estate agent said it's happening all over at the minute, so he's on the case.
    It is in the estate agents interest to say this as he is acting on the sellers behalf. The higher the price it sells for the more he gets paid. The reason it happens is because generally the estate agent has over valued it. They walk into peoples houses tell them they will get them 300k, another company goes in and is realistic and tells them 280k but people always go with the higher valuation because they want to believe they will be the ones who get the higher price. Every time I have a customer who is selling their house they tell me what it is up for. My next question is always ‘what would you take?’

    Estate agency valuers have no qualifications whereas the banks valuer will have full professional accreditation and be registered with RICS. I may be wrong but I have seen this a great many times before and it is very rare for the valuation appeal to work. Even if you have strong evidence they don’t normally change their mind as it opens up too many issues for them.

  42. #1392
    Senior Member niko_cee's Avatar
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    The price someone is willing to pay in an arms-length transaction on the open market is the best guide to value of a property, regardless of what the many and varied experts in the field may think.

  43. #1393
    Senior Member Spikey M's Avatar
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    Quote Originally Posted by Luke Emia View Post
    It is in the estate agents interest to say this as he is acting on the sellers behalf. The higher the price it sells for the more he gets paid. The reason it happens is because generally the estate agent has over valued it. They walk into peoples houses tell them they will get them 300k, another company goes in and is realistic and tells them 280k but people always go with the higher valuation because they want to believe they will be the ones who get the higher price. Every time I have a customer who is selling their house they tell me what it is up for. My next question is always ‘what would you take?’

    Estate agency valuers have no qualifications whereas the banks valuer will have full professional accreditation and be registered with RICS. I may be wrong but I have seen this a great many times before and it is very rare for the valuation appeal to work. Even if you have strong evidence they don’t normally change their mind as it opens up too many issues for them.
    Fair, but how difficult is this stuff really? It's literally just "a property with an equal number of bedrooms sold for £300k last week, so £300k is the value".

    Since we bought our place we've sorted every room to a good spec. New garden, new kitchen, new bathroom, every room decorated. It still got valued purely on the number of bedrooms and the presence of a garden. Nothing else matters.

  44. #1394
    Senior Member Boydy's Avatar
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    Quote Originally Posted by Spikey M View Post
    Fair, but how difficult is this stuff really? It's literally just "a property with an equal number of bedrooms sold for £300k last week, so £300k is the value".

    Since we bought our place we've sorted every room to a good spec. New garden, new kitchen, new bathroom, every room decorated. It still got valued purely on the number of bedrooms and the presence of a garden. Nothing else matters.
    How much did doing it up cost? I sometimes see nice houses that some old person who hasn't redecorated since the 80s has probably died in for sale at decent prices but I have no idea how much it would be to replace kitchen, bathroom, do the floors etc.

  45. #1395
    Senior Member Spikey M's Avatar
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    Quote Originally Posted by Boydy View Post
    How much did doing it up cost? I sometimes see nice houses that some old person who hasn't redecorated since the 80s has probably died in for sale at decent prices but I have no idea how much it would be to replace kitchen, bathroom, do the floors etc.
    I'm sure it effects how willing people are to buy, but as far as the property value 'experts' give, not so much. We had 3 Estate Agents tell us it doesn't make too much difference. It's all about the number of rooms, the size of them and the location of the property. We thought it was a load of bollocks too, but Rightmove does have all but the biggest shitholes in the same price range so who knows?

  46. #1396
    Senior Member Lofty's Avatar
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    Alternatively, one the down the road from me that is identical sold as a shithole and was renovated, selling 6 months later for £70k more.

  47. #1397
    Senior Member Spikey M's Avatar
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    That fulfills the shithole criteria though. What I mean is high spec vs low spec doesn't make a whole lot of difference to the valuation you get given. Or it didn't for us, anyway.

  48. #1398
    Now in technicolor Pen's Avatar
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    Speaking of valuations, I have to boast that I am very pleased how ours has rocketed since we bought our first place four years ago. We then payed 278k for it and we’re now living in a place that’s worth over 100k more without any change in living expenses.

    There’s no way we could’ve made that kind of money in any other way.

  49. #1399
    The Artist Formerly Known as Taz
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    Will be time to remortgage in April and I've had my former advisor come sniffing about already. Last time I went with his best suggestion and got him a lovely £400 or whatever it was for doing 1 phonecall. I am correct now that finding the best deal is basically as easy as renewing car insurance these days, right? What's my equivalent comparison website/service that I should use?

  50. #1400
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    Quote Originally Posted by Don View Post
    Will be time to remortgage in April and I've had my former advisor come sniffing about already. Last time I went with his best suggestion and got him a lovely £400 or whatever it was for doing 1 phonecall. I am correct now that finding the best deal is basically as easy as renewing car insurance these days, right? What's my equivalent comparison website/service that I should use?
    Just no. Is he charging you a fee? Or just getting paid by the bank? If he’s not charging you a fee and just getting the money from the bank then let him do it. If he is charging you a fee tell him either to not charge a fee or you will take your business to a broker who doesn’t charge a fee.

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