Springboig: Des res or deathtrap?

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Postby Mark N » Wed Feb 14, 2007 9:22 pm

crusty_bint wrote:you make your offer subject to survey, then if anything shows up your not happy about (i.e. your lender isnt happy about) then your free to negotiate or pull-out :)


Cool. Thanks CB, I'm sure I'll get there in the end !

Alan - any news on yours ?
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Postby Alan L » Fri Feb 16, 2007 11:39 pm

crusty_bint wrote:you make your offer subject to survey, then if anything shows up your not happy about (i.e. your lender isnt happy about) then your free to negotiate or pull-out :)


Indeed. That's what happened with the other place I was looking at. I made an offer but the survey showed that the roof was wrecked basically, so Springboig's back on now.
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Postby Alan L » Fri Feb 16, 2007 11:41 pm

Mark N wrote:Alan - any news on yours ?


It's going to a closing date on Wednesday. I'm going to place an offer, subject to survey. I've a good idea how much'll get me the place, so fingers crossed.
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Postby Alan L » Wed Feb 21, 2007 9:42 pm

Had my offer accepted today. :D

Three other offers were placed apparently.

Obviously the survey tomorrow has to go well but I could finally be on my way to owning my own wee tenement flat. Not something I thought likely on my pathetic salary.

Fingers crossed, and all that.
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Postby Mark N » Wed Feb 21, 2007 9:48 pm

Well done! If you don't mind me asking, what % above the Offers Over price did you offer ?
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Postby Alan L » Thu Feb 22, 2007 12:13 am

Mark N wrote:Well done! If you don't mind me asking, what % above the Offers Over price did you offer ?


30% fooking percent over. :(

Just as well it's cheap as chips in the first place. :D
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Postby Alan L » Thu Feb 22, 2007 12:25 am

marginalwalker wrote:
Alan L wrote:Had my offer accepted
How much is the flat? Which morgage did you go for? Did you have a deposit?


Not going into specifics until the thing's done and dusted or, more likely, a dodgy survey forces me to withdraw my offer! I'm a paranoid fecker and you never know who's reading this. :P

I don't have a deposit. I've a mortgage agreement in principle with the Northern Rock. They lend first time buyers an unsecured loan of up to 25% of the property's value on top of your mortgage at the same interest rate and coleect the lot in one monthly payment.

I know roughly how much it would cost me per month if I took the maximum I'm allowed to borrow over 35 years but obviously won't know exact figures until the whole thing's sorted.

I'll borrow the deposit from my parents and use the unsecured loan to pay that back, furnish the place and pay off my credit card.

I'll happily offer further details if and when I've got the keys in my hand. :D
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Postby Sunflower » Thu Feb 22, 2007 11:46 am

Try not to be too paranoid about the survey Alan L - when we were buying I eventually realised that there isn't a surveyor in Glasgow who isn't going to mention possible problems with damp / roof / rot /movement in the 100 year old badly maintained buildings that are Glasgow tenements. If you want peace of mind on the repairs front you have to live in a modern shoebox. (At least you can store your stuff in the spare bathroom....).

Mind you, there was one top floor flat where they'd extended into the roof space (Great! Somewhere to get away from downstairs's noise :) ) - but the lawyers couldn't establish that they had any title to the roof space. I thought if anyone was going to argue they would have done it by now, but Significant Other insisted on walking from that one. :( I think.
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Postby lewis8000 » Thu Feb 22, 2007 6:38 pm

sorry to hijack the thread alan :wink: but i'll be selling my one bed top floor flat on shettleston rd,near parkhead.any ideas on the value?i've checked on gspc but nothing similar.ps alan,drove past the flat you're going for and it looks nice,flat next door is for sale also i see.
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Postby Mark N » Thu Feb 22, 2007 7:39 pm

Lewis - have you also tried looking on Right Move and S1 Homes ? On the former, if you register with them, you can also use the "Sold Prices" section to find out how much properties have sold for. Though it's probably of limited use as it doesn't tell you the type and size of the properties.
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Postby cleverdic » Fri Feb 23, 2007 6:39 am

Don't forget the website http://www.ourproperty.co.uk/

Free access to all the actual house sales and what price they fetched in Scotland over the last few years.
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Postby Alan L » Fri Feb 23, 2007 10:16 pm

Sunflower wrote:Try not to be too paranoid about the survey Alan L - when we were buying I eventually realised that there isn't a surveyor in Glasgow who isn't going to mention possible problems with damp / roof / rot /movement in the 100 year old badly maintained buildings that are Glasgow tenements. If you want peace of mind on the repairs front you have to live in a modern shoebox. (At least you can store your stuff in the spare bathroom....).

Mind you, there was one top floor flat where they'd extended into the roof space (Great! Somewhere to get away from downstairs's noise :) ) - but the lawyers couldn't establish that they had any title to the roof space. I thought if anyone was going to argue they would have done it by now, but Significant Other insisted on walking from that one. :( I think.


It's a bit late for such advice, as I've now ditched the whole thing based on the surveyor's comments. :(

For future reference, did such sghitty surveys prevent you from getting a mortgage, or borrowing as much as you expected?


By coincidence, I looked at a flat in Coatbridge where the previous owner had extended into the loft without title to the space, nor planning permission. Needless to say, I too walked away!
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Postby Alan L » Fri Feb 23, 2007 10:19 pm

lewis8000 wrote:sorry to hijack the thread alan :wink: but i'll be selling my one bed top floor flat on shettleston rd,near parkhead.any ideas on the value?i've checked on gspc but nothing similar.ps alan,drove past the flat you're going for and it looks nice,flat next door is for sale also i see.



I looked at a first floor 1 bed flat on Shettleston Road which was on for offers over £45,995. On the day I was due to view it, the owners accepted an offfer of £56,000.

The flat in question was in pretty good condition, but had no central heating.


My offer for the flat that I now won't be buying was £55,125 btw.
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Postby Merlot » Sat Feb 24, 2007 12:24 am

Hi,
I live in Shettleston. My house (semi villa) is 100 yrs old. When I bought it the survey showed that there had been movement in the building, but not recent. I've been here for years, done loads of work to it and it is rare btw.
About 15 yrs ago I had to have another survey done. The surveyor pointed out to me that there was movement in the building but that it was of long standing and should not cause any problem. Fine, however, it's now in the back of my mind that I won't be able to sell it quick because they are so pernickity. It's 100 yr old ffs. I'm not that bothered, I'll be here till I snuff it. But if I wanted to sell, it'd be a great family home. I'm considering putting on a conservatory. If I had any doubts about this house I wouldn't bother spending any more cash on it. Damp, rot and other stuff are easily fixed in tenements etc. Don't let it put you off. These hooses will be here long after us.
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Postby Sunflower » Sat Feb 24, 2007 12:57 am

Sorry the advice came too late Alan L - with us it was only after about five gloomy surveys that we realised they were all saying the same things. I might think differently if one said This place DEFINITELY needs a new roof in the next year, but they're usually full of coulds and mights and can't rule outs.

I came to the conclusion that the surveyors are all busy covering their backs. (Any surveyors on here?) Even if you pay for the more expensive surveys they still say you really need specialist timber/structural/blah blah inspections to be really sure. And that they couldn't get full access to the roof, lift the carpets, etc., etc.

We were buying a few years ago when the market seemed to be even more overheated than it is now (you never saw anything at fixed price, it was all offers over), and the survey value was never as high as the estate agents were nudge-nudge-wink-winking you'd have to offer to be in the running. Valuers are looking at historic information to make their comparisons, so when prices are going up the 'official' valuation is always going to be lower than the market's.

It puzzled me for a long time that the price per floor area is so much lower in a traditional tenement than in a new block - my theory now is that the 100 year old prices factor in the risk of big bills coming along in the shorter rather than the longer term. It's bound to happen to some of them, but nobody knows which ones till it happens. Mind you, since the new stuff seems to be made of match boxes and lego, it won't be too many years before they start falling to bits anyway.

Merlot's right - things can be fixed, and it's not always as big a job as the first person tells you. It is harder with tenements though - you've got to get all the owners to agree (one way or another) and to cough up, can't just decide now's the time to fix things like you can when you own the whole building.
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