jackpot06

Was just about to exchange contracts on a place on Friday last week ...when significant technical hitch arose. Turns out that the vendor has a 'shared appreciation mortgage' ( equity release scheme) and the valuation given by the bank was £75,000 higher that the agreed sale price. Even though Zoopla and Net House prices are in keeping with the agreed price and the prices in that road generally are less than the agreed price. The bank won't let the vendor proceed without hefty penalties vis a vis this £75 k shortfall. Even though the bank have only got one abritrary valuation. The house has been on the market at £385 k for months now and no sale . Agreed £350 k . And the bank says it's worth £425k. Agent says that all other viewees have fed back that the max they would pay would be £350k and that vendors are lucky someone's come along and offered this figure. Agent cannot understand where the bank has got this valuation from. All parties gutted is there anything that can be done to rescue this deal? Apparently SAM's benefit the owner of one if the price stays the same or goes down ...but not if it goes up. Any ideas and help much appreciated.

This actually comprises 2 barns link detached -one is in complete need of refurbishment hence no pics and the other ...as seen http://www.rightmove.co.uk/property-for-sale/property-36339698.html makes you wonder how close to the wind some of them sail in view of these latest guidelines..... http://www.estateagenttoday.co.uk/news_features/NEWS-EXTRA-OFT-publishes-new-advice-on-how-estate-agents-should-act

Can we have a linky please?

http://www.rightmove.co.uk/property-for-sale/property-36339698.html 2 Barns for the price of one .....seen both : one is in need of major refurbishment and the other as seen .....opinions ...price seemed high in this area?

I use Property Bee ( thanks to whoever runs it). Having extensively used it, I can see that any changes that have occurred are plain to see. This is my question-; I'm looking in North Norfolk and lots of places are taken off and 'rested' then relisted as ' new to the market' - which isn't true- As Bee has a history of them. Is presenting a property as ' new to the market ' when it's been on for sometimes years technically fraud ?

lovely area

This is a truly excellent and academic thread. Thankyou to all who've contributed.

Are you in Wells / Walsingham area at all ? Can you pm me ?

I've spent several weekends looking around this area and wondered what people on here think of prices etc in this locale? Have been dealing with Sowerby's and some of the information they've been telling me conflicts a little ...so I'd welcome some extra info.

I've not done it ! Honest guv. However my ex hus recently did when he bought a big ticket house in Dorset and my kids told me about it !

http://www.avoidstampduty.org.uk/

just wondered if anyone on here has any opinions on these services?

Doesn't mean he doesn't have a grasp on what's going on now. Maybe he's become more adept than your subtle put down suggests he once was. Maybe he's been listening to Nigel Farage or maybe he's developed a conscience and he's showing the sleeping sheeple the horrific danger our unelected leaders in the Euro Parliament are putting us into.

No, there is something fishy going on. I looked at loads of properties in N Norfolk a few weeks ago and queried on here why the whole LOT showed up SSTC and hey pesto they are all back today as available . We are being shafted one way or another !

I am just one of those people who is going through the nightmare scenario of fighting a defamation claim because of a workplace related complaint If anyone on here can help me with the name of a good barrister please pm on here. Thanks