Author Topic: Opportunity presents itself - an update (Read 3392 times)

Audmum · « **on:** May 05, 2009, 12:21:20 pm »

Just got back from having a look at the cottage. Couldn't get inside unfortunately cos the door was stuck fast (probably due to all the rain lately) so had to make do with looking through the windows. It's been empty for a few years now as the owner had to go into care and it's been passed onto the courts to sell it. It's about 170 years old and while it would probably be cheaper to knock it down and rebuild, I think it's such a shame to see these lovely old buildings disappear. According to the estate agent a few builders have looked at it and have said it's do-able to update it and still have it in it's original state. It actually looks like two labourers cottages that have been knocked into one. There's no hallway/corridor - you just walk room to room. So there's a (very) small kitchen, living space then two further rooms and the bathroom at the end which extends into one of the outdoor stores. The garden's are very overgrown and would take a lot of work to sort them out but perfect for veggies - and there's even a well which is full! Needless to say my head is absolutely spinning with ideas - all I have to do now is figure out when to say to OH (I might just leave the brochure lying around and see what happens

)
Auds x

doganjo · « **Reply #1 on:** May 05, 2009, 04:00:26 pm »

If you are in England you may have a chance. Here in Scotland on the open market there would be closed offers and it would go to the highest bid when all are opened. Many people have been disappointed because of our system, including myself. I wish you luck, hope you can buy this property as it sound like it needs some love and tlc

Audmum · « **Reply #2 on:** May 06, 2009, 01:02:20 pm »

Hi Annie
I've heard of the scottish system - it must be really frustrating for people when they don't know what offers have been put on a property.
I don't know how this will go but OH response was more positive than I thought. Still a lot of thinking and finding out to do and we'll have to get this place valued. Having said that, there are several properties on our street that have been on the market for ages - a couple are now being let out as they can't sell them.
Auds x

sellickbhoy · « **Reply #3 on:** May 06, 2009, 01:14:23 pm »

Just on the "scottish system"

now that we have to have home reports prepared - including sellers survey, i think we'll fall more in line with the English system, as lenders will only lend based on the survey value of the property - not the bid. this means that the offers over system will not work so well - as traditionally a bid was made - subject to survey and the surveyor tended to value it to match the bid!!! (or close enough in most cases)

now the survey will be up front, so the bids will be in or around that.

be interesting to see how this affects the house price trend in scotland

doganjo · « **Reply #4 on:** May 06, 2009, 05:38:24 pm »

Yes, Chris, you're right - I can remember a surveyor asking what we wanted to offer on a number of occasions. It may well keep the prices at a reasonable level.

G0MZS · « **Reply #5 on:** May 06, 2009, 07:10:05 pm »

We found ourselves with the same sort of opportunity last year. click link to see photo http://i702.photobucket.com/albums/ww26/sueandmark09/IMG_8368_edited-1.jpg

We took it and moved into this cottage that goes back to the early 1400s It's had three major renovation over the years the last was in the 1700s and the fire place and foundations are what's left of the original build. It's was in bad state of repair inside and out but we are doing bit's at a time and it's coming alone fine. Wed will be re-point the whole cottage this summer as well as replace windows. It was the best move we have ever done and are glad of it although it's hard work!!

Moving from the middle of the city to what we have now.....

I say go for it!!