Spray foam roof insulation.

[Morrisman]

Seems odd that they are trying to get a mortgage on a house that they won on a sealed bid auction, the estate agent needs rogering with the rough end of a pineapple for not vetting the applicants.

Bob

I'm happy to dump them if I see any sort of philandering going on. They specifically steered us towards these particular buyers, by the wording in the list of bids they sent us. Every other bidder needed a 'normal mortgage'.but these guys needed a 'small mortgage'. I still have the email.

Its not like this is our own home for sale, with a chain involved, and we're desperate to move on. I'd appreciate the coin in my bank account, but I'm loathe to play whatever game is going on.

 

[DAPPH]

I'd imagine there will be an official inspection required by the buyers lender. Unless they expect us to pony up the cost of the inspection.......
I'll pebble off to our solicitors tomorrow, get the guarantee, see if the company is still around, and take it from there.

Our surveyors report for the approval of the mortgage didn't mention the roof insulation that was just about an 1 " thick as they didn't even come with a ladder to have a look in the roof void , " Oh we don't do that ,we just check it's suitable to be mortgaged to that value. " said the lady in her high heels & spray on trousers.

To have that done we'd have had to cough up £ 700 +vat or more for a certified surveyors report ourselves . Most of the time as a buyer they are not worth the paper they are written on because of a crafty disclaimer in the report I would have simply gone to another seller and been " cautious " without telling lies as to how I filled out their online details .

 

[Pigeon_Droppings2]

A few friends have bought houses recently and the mortgage company have devalued leaving the buyer to stump up extra cash...seems quite common at the moment.

Current market is strong...but for how long is anyone's guess.

 

[Morrisman]

Our surveyors report for the approval of the mortgage didn't mention the roof insulation that was just about an 1 " thick as they didn't even come with a ladder to have a look in the roof void , " Oh we don't do that ,we just check it's suitable to be mortgaged to that value. " said the lady in her high heels & spray on trousers.

To have that done we'd have had to cough up £ 700 +vat or more for a certified surveyors report ourselves . Most of the time as a buyer they are not worth the paper they are written on because of a crafty disclaimer in the report I would have simply gone to another seller and been " cautious " without telling lies as to how I filled out their online details .

When I bought my current gaff I paid £700 for a full survey.
Worthless.
The guy reported the CH thermostat was in the garage, and enclosed a photo. It was a freeze stat.
The thermostat was in the kitchen.
He reported that the silicon need changing around the bathroom window.
That there were some settlement cracks in the mortar above the damp course.
That there was discolouration in paint in the bedrooms....
And on and on.

£700 worth of useless drivel.

 

[Morrisman]

The surveyors don't lend the money so its not there risk...In my game, foamed roof spaces are frowned upon from an estimating point of view as until the roof is stripped its an unknown quantity...this is how the lenders are leaning too as until the property or mortgage is paid for then they own it.

Totally depends on this 'small mortgage required' item. If they're borrowing 100k then a new roof is no problem, worst case scenario. So why are they suddenly wanting to renegotiate? How big really is the 'small mortgage required'?

 

[Pete.]

A few friends have bought houses recently and the mortgage company have devalued leaving the buyer to stump up extra cash...seems quite common at the moment.

Current market is strong...but for how long is anyone's guess.

Hard to judge isn't it? On the one hand things are getting so expensive that people have to tighten their belts so there's less money around but on the other hand half of Europe is going to freeze this winter and we are less reliant than most on the red gas. People might want to come here to stay warm however much it costs

 

[Morrisman]

theyve lost the other interested clients and they may question why its being put back onto the market again

Who may question? If anybody asks I'd be happy to tell them: dreamers and schemers aren't welcome here.

And as I've said, its an auction to buy, not an auction to make silly offers just to win, and then see if you can afford it.

 

[Kram]

Sounds like perhaps they know the buyers or have something to gain by getting you to drop the price. There are a million things that can be wrong on a house, so a lender will not be fixated on the roof, simply they get a surveyor to do a basic report of the value.
If you are a buyer and want a proper report it costs quite a bit more. There will be a disclaimer in it but at the same time the surveyor will be liable for negligence if that they got it wrong (take to small claims)

 

[Pigeon_Droppings2]

Still a seller's market at the moment but I suspect there's a lot of offers above asking price....with the intention of beating the price down once it's a 1 horse race!

Had one of these recently...told the seller I wasn't interested in a bidding war. Last time I got involved in that nonsense I got out bid and walked away....only for the EA to call me 2 months later to say the out-bidder didn't actually have the funds!

 

[Morrisman]

Still a seller's market at the moment but I suspect there's a lot of offers above asking price....with the intention of beating the price down once it's a 1 horse race!

Had one of these recently...told the seller I wasn't interested in a bidding war. Last time I got involved in that nonsense I got out bid and walked away....only for the EA to call me 2 months later to say the out-bidder didn't actually have the funds!

EA called again this morning, arguing the toss why we should renegotiate the price. It's almost like they are on the buyers side, not ours......

I would imagine the buyers planned this from the start.

 

[Cobbler]

EA called again this morning, arguing the toss why we should renegotiate the price. It's almost like they are on the buyers side, not ours......

I would imagine the buyers planned this from the start.

They don’t want to lose commission on the sale in the event that it falls through.

 

[Morrisman]

They don’t want to lose commission on the sale in the event that it falls through.

I'm wondering if they are trying just as hard to persuade the buyers to pay the price they offered.

 

[dobbslc]

you can get indemnity insurance that covers for things like this, should put a buyers mind at rest without giving away the family jewels just for a sale.

A new roof would only cost 7 to 10 grand...that's a lot less than 20K

Can you come and do mine for that? It's only a little chalet bungalow

@Morrisman
Get yourself some indemnity insurance (it's pretty cheap) if you're worried but I'd play hard ball as it sounds like they're chancing their arm to get a load of money off!
If the survey says it's ok then I can't see why the bank won't grant a mortgage.
It's a game of who blinks first!

 

[addjunkie]

I'm wondering if they are trying just as hard to persuade the buyers to pay the price they offered.

You could tell EA to stick it, as they obviously cant close a deal on a house, and go find one who can

 

[Trevorleach]

Mum just had her two bed bungalow reroofed 8k

 

[Morrisman]

Can you come and do mine for that? It's only a little chalet bungalow

@Morrisman
Get yourself some indemnity insurance (it's pretty cheap) if you're worried but I'd play hard ball as it sounds like they're chancing their arm to get a load of money off!
If the survey says it's ok then I can't see why the bank won't grant a mortgage.
It's a game of who blinks first!

Told the EA again this morning, they either pay the agreed price, or they are out of the game. They obviously have the money so they are just chancing it to get the price down.

 

[Morrisman]

You could tell EA to stick it, as they obviously cant close a deal on a house, and go find one who can

That's a distinct possibility. We had two hours of super duper sales spiel off the young girl who came out to do the valuation, explaining how incredibly hard she will personally work to get us the best possible price yada yada.

It seems that all went out the window as soon as that conversation ended.

 

[bricol]

& spray on trousers.

Over a decade after buying my house, I can still remember the pin-stripe trousers perfectly encasing the lower half of the estate agent selling the house as they went up the loft ladder in-front of me . . .

Which, with hindsight, is probably why I didn't spot the rampant woodworm . . .

For clarity, the estate agent was a very lovely young lady

 

[bricol]

Mum just had her two bed bungalow reroofed 8k

I had a quote for my three bed bungalow the other week - £9k which is a touch up from the £4k guesstimate he offered a few years ago.

 

[Morrisman]

I had a quote for my three bed bungalow the other week - £9k which is a touch up from the £4k guesstimate he offered a few years ago.

New roof, complete, or new tiles?