We have currently made an offer on 2 property's
The First Property
One in Burntwood. This is currently being marketed as a business and we have applied for change of use to the council from Commercial to Domestic.
We are awaiting for a reply from the planning department on this and our offer can not be taken any further until we have confirmation from the council this can be done.
This is a large property 267 + 267A High Street with a large amount of ground at rear and car access to the rear also.
The Second Property
This has had an offer accepted by the vendor with us on No. 6 Catholme Lane Barton Under Needwood.
This is a 3 Bedroom Detached Property, Now this is a little small in its current state but the bonus with this house is that it sits on 2.3 Acres of land
Now i guess this says it all, and you can guess what house we are focusing on.
This is a Small Holding Property with what we would class as a huge ammount of land and potential.
Fingers crossed, will keep you up to date.
Thursday 28 May 2009
Missed Property
4 Bedroom Bungalow came on market in Armitage, I called Boot and Son 1 week after it was placed on Rightmove.
You guessed it Sold ( Was on for 300k )
House for sales on Bridge Road Burntwood.
Under offer but been sold to same person 3 times kept falling through.
Vendor arranged a viewing of the house with us based on the fact we were in a purchasing position and they had left the house on the market due to the amount of times it had fallen through.
You guessed it 3 days later we recived a call canceleing the viewing as the other party had completed.
so i guess our interest made the someone get there act together, never mind the benefit here was that to the seller, speeded it up for them. Anyway every cloud and all that........
You guessed it Sold ( Was on for 300k )
House for sales on Bridge Road Burntwood.
Under offer but been sold to same person 3 times kept falling through.
Vendor arranged a viewing of the house with us based on the fact we were in a purchasing position and they had left the house on the market due to the amount of times it had fallen through.
You guessed it 3 days later we recived a call canceleing the viewing as the other party had completed.
so i guess our interest made the someone get there act together, never mind the benefit here was that to the seller, speeded it up for them. Anyway every cloud and all that........
Buying a Repossession House. ( Second House update !)
We decided to arrange our mortgage through our bank Lloyds TSB and agreed to use the Connells solicitor just to keep them happy.
After having our offer accepted at 225k for the house and a completion date of the 20/05/09 was given.
All items in place and a extra money in case a new offer is submitted.
20 Days until Completion, All looking good
Wile at work only 17 days away we received a call from connells stating that they had received a higher offer and asked us if we wanted to increase.
They could not - would not tell us how much the new offer was.
In summery over 5 days the cost went from 225k to 175k
At this point we knew we had lost the house as it had gone well over our budget.
we asked connells to ask the other party if whey would contact me directly on the presence to cover my £1000 outlay on mortgage applications.
Mohammed contacted me via phone and agreed to set up a gentlemen agreement that he would pay me the sum of £1000 if i placed no further offers on the property.
He has placed this in Wrighting and sent a signed letter to me to support this offer.
He has emailed me today to inform me he is expecting to complete tomorrow and that he will post me a cheque in the post next week.
This is good news as I will not be financially out of pocket as well as loosing the house.
After having our offer accepted at 225k for the house and a completion date of the 20/05/09 was given.
All items in place and a extra money in case a new offer is submitted.
20 Days until Completion, All looking good
Wile at work only 17 days away we received a call from connells stating that they had received a higher offer and asked us if we wanted to increase.
They could not - would not tell us how much the new offer was.
In summery over 5 days the cost went from 225k to 175k
At this point we knew we had lost the house as it had gone well over our budget.
we asked connells to ask the other party if whey would contact me directly on the presence to cover my £1000 outlay on mortgage applications.
Mohammed contacted me via phone and agreed to set up a gentlemen agreement that he would pay me the sum of £1000 if i placed no further offers on the property.
He has placed this in Wrighting and sent a signed letter to me to support this offer.
He has emailed me today to inform me he is expecting to complete tomorrow and that he will post me a cheque in the post next week.
This is good news as I will not be financially out of pocket as well as loosing the house.
Buying a Repossession House. ( Second House )
This process is defiantly not for the fainthearted be warned !!
We picked up on a property 37 Wolseley Road Rugeley at 189k. we were unaware at at first that the house was a repossession.
We went to connells in Lichfield to show our interest in the house in the next day. At this point in connells we were told the house was a repossession and that the house would probably go for about 120k as the 189k was low.
we made an offer of the asking price of 189k before we had viewed the house based on the fact it was under priced.
Now this is were the fun starts,
We had arranged a viewing of the house for Saturday morning.
It was a block viewing with about 15 people on the site. ( we were not told it was going to be a block Viewing )
We had another Meeting with connells estate agents to review our purchasing position and mortgage setup etc.
We were put under a lot of pressure to use Connells Solicitor and Mortgage arrangement.
I lost count of the amount of times we were told that we could be at a disadvantage if connells did not have full control of all aspects of this purchase and may not recommend us over another party if it come to a like for like offer.
This made a stressful process even more stressful, as the last thing you want to do is place yourself at a possible disadvantage even if it is real or not. You have to remember you are 100% in the hands of the estate agent and they want to get as much for the property as poss.
We picked up on a property 37 Wolseley Road Rugeley at 189k. we were unaware at at first that the house was a repossession.
We went to connells in Lichfield to show our interest in the house in the next day. At this point in connells we were told the house was a repossession and that the house would probably go for about 120k as the 189k was low.
we made an offer of the asking price of 189k before we had viewed the house based on the fact it was under priced.
Now this is were the fun starts,
We had arranged a viewing of the house for Saturday morning.
It was a block viewing with about 15 people on the site. ( we were not told it was going to be a block Viewing )
We had another Meeting with connells estate agents to review our purchasing position and mortgage setup etc.
We were put under a lot of pressure to use Connells Solicitor and Mortgage arrangement.
I lost count of the amount of times we were told that we could be at a disadvantage if connells did not have full control of all aspects of this purchase and may not recommend us over another party if it come to a like for like offer.
This made a stressful process even more stressful, as the last thing you want to do is place yourself at a possible disadvantage even if it is real or not. You have to remember you are 100% in the hands of the estate agent and they want to get as much for the property as poss.
Buying a Repossession House. ( First House )
77 Bower Lane was on the market for 139k as a repossession property with C Residential.
we made a number of offers starting at 200k and working our way up to 208k this offer was agreed with the vendor.
when I returned home from work i received a call from c Residential saying the there had been an over-site by the vendor (The Bank) and because the property had been on the market for more than six months it needed to be re valued. ( Company Policy apparently )
Now this seemed a little bit of a waste of time due to the fact the property would have gone down in price not up.
But hay this is just another fun part of Buying a Repossession.
2 weeks passed and i received a call from c Residential stating my offer of 208k had now been rejected, and they had received another offer of 210k also rejected.
I offered 215k that was also rejected and this is were we decided to step back. ( We had seen another property come on the market 37 Wolseley Road, see next post.
we also picked up the property had been placed with a second estate agent in cannock, just to complicate the process even more.
So we decided to just keep an eye on this House to see what happens.
Move On !!!
we made a number of offers starting at 200k and working our way up to 208k this offer was agreed with the vendor.
when I returned home from work i received a call from c Residential saying the there had been an over-site by the vendor (The Bank) and because the property had been on the market for more than six months it needed to be re valued. ( Company Policy apparently )
Now this seemed a little bit of a waste of time due to the fact the property would have gone down in price not up.
But hay this is just another fun part of Buying a Repossession.
2 weeks passed and i received a call from c Residential stating my offer of 208k had now been rejected, and they had received another offer of 210k also rejected.
I offered 215k that was also rejected and this is were we decided to step back. ( We had seen another property come on the market 37 Wolseley Road, see next post.
we also picked up the property had been placed with a second estate agent in cannock, just to complicate the process even more.
So we decided to just keep an eye on this House to see what happens.
Move On !!!
Its a buyers market. Well Apparently it is....
Well i guess the question for us was what do we need in a new house.
well this is the list
Budget 250k
Things To Have
3 / 4 large bedrooms ( With room to develop )
Private Rear Garden
South Facing Garden
Parking for 4 Cars without car shuffle
Car access to rear garden
Room for garages and sheds on rear garden.
within 10 Miles from Rugeley (Ideal In Rugeley)
Must Not Be
New house on housing estate.
Overlooked
small garden ( North Facing )
Now on this budget this list makes finding a house that ticks most or all of the boxes has proven difficult.
well this is the list
Budget 250k
Things To Have
3 / 4 large bedrooms ( With room to develop )
Private Rear Garden
South Facing Garden
Parking for 4 Cars without car shuffle
Car access to rear garden
Room for garages and sheds on rear garden.
within 10 Miles from Rugeley (Ideal In Rugeley)
Must Not Be
New house on housing estate.
Overlooked
small garden ( North Facing )
Now on this budget this list makes finding a house that ticks most or all of the boxes has proven difficult.
Purchase of a new House Late 2008
Well its been some time since i have updated my Blog.
2009 has been a difficult year, we were going to purchase a house in shire oak ( just outside Brownhills ) late September.
This was a relatively large property on the 29 Chester Road with a large north facing garden to the rear.
We got to the point of offer accepted but the Company I worked for JCB and the rest of the World started to predict Armageddon due to loss of sales and the housing market collapse. (Nick Named the Credit Crunch)
This prompted us to place the purchase on hold and pull out until we could see some light at the end of the tunnel.
We did re approach the vendor in March this year as the property had been removed from rightmove but was still for sale.
We were informed the property we had been looking at was under offer all be it slightly under the 230k we offered.
The vendor decided to go with the new buyer probably due to the fact we had pulled out several months prior.
So we began the new house search.
2009 has been a difficult year, we were going to purchase a house in shire oak ( just outside Brownhills ) late September.
This was a relatively large property on the 29 Chester Road with a large north facing garden to the rear.
We got to the point of offer accepted but the Company I worked for JCB and the rest of the World started to predict Armageddon due to loss of sales and the housing market collapse. (Nick Named the Credit Crunch)
This prompted us to place the purchase on hold and pull out until we could see some light at the end of the tunnel.
We did re approach the vendor in March this year as the property had been removed from rightmove but was still for sale.
We were informed the property we had been looking at was under offer all be it slightly under the 230k we offered.
The vendor decided to go with the new buyer probably due to the fact we had pulled out several months prior.
So we began the new house search.
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