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House Price Crash Forum

ftb83

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About ftb83

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  1. Just got the survey results back. The valuation was 5K more than we are paying. The survey showed a couple of things but 1K to put it right tops. Are mortgage valuations generally quite conservative? I'm starting to think that as the price is still reasonable, the seller is not in a chain and has another potential buyer waiting in the wings it may not be worth the risk of dropping the price. Any thoughts? Many thanks
  2. Interesting idea. Not sure how to get in touch with them though. I doubt the other estate agent will just give me their number.
  3. Thanks for all the replies. Unfortunately we know the other offer is genuine. The property is on with two different estate agents, we're with one, the other buyers with the other. We've seen the sold sign change from one estate agent to the other as the highest bidder has changed. Our estate agent has also found out some details about the other buyers. If it is a bluff, its an elaborate one.
  4. We are first time buyers and have found a lovely little 2 bed house. We had our offer accepted at 10K below the asking price and the seller agreed to take the house off the market. We got surveys, solicitors and mortgage sorted and all was going well. A week later the seller accepted a higher offer on the property. We didn't want to lose the house so we increased our offer by 15K, so 5K over asking price. Now we are in a bit of a dilemma as the higher price has pushed us over a loan-to-value threshold so we cant get the best deal on a mortgage. We can afford the new price but it is a stretch. If we could drop the price by 5-10K it would make a big difference to the monthly mortgage payments. Considering house prices seem to be falling, is it acceptable to gazunder? Normally I wouldn't consider it but as the seller has squeezed more money out of us i may have changed my mind. Any advice? Many thanks
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