We’ve pulled out of a purchase of a house and I am using writing this as a sort of cathartic exercise and validation of my decision.
I am not sure if I will even post it !
the facts :
SCD - 4 bed “detached” 1100sq foot with a garage conversion of some 300sq foot
October 14 House reduced from 550k to 500k - comes onto our radar.
We went to see it - wife loves it despite the condition ( bad )
We were told that there was a laughable offer of 410 on it.
We offered 460 and walked away.
Jan comes and we get a call that the vendor would accept 490
We came back with 480 and in the heat of it got pushed to 488, mainly due to being involved in another bidding war which went nuts and scared us into thinking we’d never get a house, 488k was hard fought I might add !
Solicitor suggests a thorough survey as there are planning issues around the extension, the sale docs include a architects report that suggests the extension is uninhabitable and extremely poor quality. report produced for planning I assume.
Surveyors report says the place is a wreck, needs everything, confirms extension is uninhabitable and should be knocked, and the whole house was poorly built in the first place.
We go back with a revised offer of 450k based on a builders quote to make the house habitable
( nothing fancy, new heating system and insulation, windows etc ) would cost the guts of 30k, and the extension needs to be knocked.
so did we dodge a bullet or have I condemned the family to living in a rent a wreck for the rest of our days ?
by the way if I sound a little dramatic, I’ve been a firm bear and I have held out since selling in 09 through some intense pressure, but this house ( location really ) and our wish to settle here ( kids are at school locally now ) damn near made it impossible for me to resist !