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The house sale

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    The house sale

    1) Offer made on our place in Scotland. Accepted. Took off market.

    2) Four weeks later buyer's mortgage lender withholds funds days before the missives are concluded, sale fell through.

    3) Back on market, 2nd home report required. Another £350 or whatever. Same surveyor reduced value by £8k.

    4) 2nd buyer falls through because lender would not approve mortgage due to fraud on buyers credit record.


    I enquired of the surveyor why the drop in valuation and he said because the property has been on the market for 4 months now. But two of those months were whilst it was 'under offer'

    What the heck? And why are sellers in the UK not allowed to take a deposit?
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

    #2
    Originally posted by scooterscot View Post
    1) Offer made on our place in Scotland. Accepted. Took off market.

    2) Four weeks later buyer's mortgage lender withholds funds days before the missives are concluded, sale fell through.

    3) Back on market, 2nd home report required. Another £350 or whatever. Same surveyor reduced value by £8k.

    4) 2nd buyer falls through because lender would not approve mortgage due to fraud on buyers credit record.


    I enquired of the surveyor why the drop in valuation and he said because the property has been on the market for 4 months now. But two of those months were whilst it was 'under offer'

    What the heck? And why are sellers in the UK not allowed to take a deposit?
    Wait until Scotland becomes part of Germany and then sell under German Law.

    Comment


      #3
      Originally posted by scooterscot View Post

      1) Offer made on our place in Scotland. Accepted. Took off market.

      2) Four weeks later buyer's mortgage lender withholds funds days before the missives are concluded, sale fell through.

      3) Back on market, 2nd home report required. Another £350 or whatever. Same surveyor reduced value by £8k.

      4) 2nd buyer falls through because lender would not approve mortgage due to fraud on buyers credit record.


      I enquired of the surveyor why the drop in valuation and he said because the property has been on the market for 4 months now. But two of those months were whilst it was 'under offer'

      What the heck? And why are sellers in the UK not allowed to take a deposit?
      Is this the Scottish conveyancing system, that's supposed to be so much better than the English & Welsh one?
      Work in the public sector? Read the IR35 FAQ here

      Comment


        #4
        Originally posted by scooterscot View Post
        1) Offer made on our place in Scotland. Accepted. Took off market.

        2) Four weeks later buyer's mortgage lender withholds funds days before the missives are concluded, sale fell through.

        3) Back on market, 2nd home report required. Another £350 or whatever. Same surveyor reduced value by £8k.

        4) 2nd buyer falls through because lender would not approve mortgage due to fraud on buyers credit record.


        I enquired of the surveyor why the drop in valuation and he said because the property has been on the market for 4 months now. But two of those months were whilst it was 'under offer'

        What the heck? And why are sellers in the UK not allowed to take a deposit?
        Scottish house sales are not the same as the rest of the UK ones. If the Scottish system was sorted out, you'd not have had the problems.
        …Maybe we ain’t that young anymore

        Comment


          #5
          Originally posted by scooterscot View Post
          1) Offer made on our place in Scotland. Accepted. Took off market.

          2) Four weeks later buyer's mortgage lender withholds funds days before the missives are concluded, sale fell through.

          3) Back on market, 2nd home report required. Another £350 or whatever. Same surveyor reduced value by £8k.

          4) 2nd buyer falls through because lender would not approve mortgage due to fraud on buyers credit record.


          I enquired of the surveyor why the drop in valuation and he said because the property has been on the market for 4 months now. But two of those months were whilst it was 'under offer'

          What the heck? And why are sellers in the UK not allowed to take a deposit?
          I don't recognise any of that as being part of the normal chain of events associated with a house sale.

          What's a missive? Is it a Scotch thing?

          Comment


            #6
            Property values only go up you know.

            Comment


              #7
              Originally posted by GB9 View Post
              Property values only go up you know.
              Obviously not in jock land
              The Chunt of Chunts.

              Comment


                #8
                Originally posted by MrMarkyMark View Post
                Obviously not in jock land
                Hence why Scotland never has a crash in property prices.
                "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

                Comment


                  #9
                  Originally posted by scooterscot View Post
                  Hence why Scotland never has a crash in property prices.
                  That must be little consolation, now yours has gone down in price
                  The Chunt of Chunts.

                  Comment


                    #10
                    The house sale

                    £8k in 2 months on a house that's worth what? £100k. Sounds like a crash to me.

                    Edit: £99,800

                    Edit: £99,796.75 (that's £3.25 drop since the last edit, 35 mins ago)
                    …Maybe we ain’t that young anymore

                    Comment

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