hi some advise would be greatly appreciated my partner and i are buying a new home its a repossession property, we paid for an in depth survey which flagged lots of damp probs, poss elec problems and suspect gas heaters and need for central heating system etc and valued house at £110,000 we were in a bidding war and had our last offer of £114,000 accepted. its a 4 bedroom property. there are 3 bedroom houses on the same street going for £135,000 which are not that much better. ive had damp and timber specialist out who said there is no problem with damp, the damp course failed so need a new one for £300. the gas man did once over and a new central heating with pipes removal of suspect heaters and water boiler that was leaking removed etc is £3000 im waiting on electric guy to come out too so all in all not a costly house to fix probs.
now advice from people in the know or have had similar happen we have been told by the morgage broker the fact the survey says its valued £4000 less than we bid could be a problem for the bank. also we may have to have the problems fixed before we move in. we are worried we will get work done then someone tries to take the house before exchanged if we have to do jobs is there a way to make sure they cant accept another offer on house? this is all new to us and we are so stressed with it all. we just want to get in quick as passible
now advice from people in the know or have had similar happen we have been told by the morgage broker the fact the survey says its valued £4000 less than we bid could be a problem for the bank. also we may have to have the problems fixed before we move in. we are worried we will get work done then someone tries to take the house before exchanged if we have to do jobs is there a way to make sure they cant accept another offer on house? this is all new to us and we are so stressed with it all. we just want to get in quick as passible