Owning your own home

This was obviously one thing we did right as we had no objections and one letter of support. We have no idea who the letter of support was from, it's very mysterious! Maybe someone just liked the cut of our architectural jib?

That's ace. I've only had three letters of support ever, and they were all on one application after a neighbour had leafleted the whole area trying to drum up opposition and the people were opposed to that kind of nimbyism. BTW - If you check the case officers report for the planning application it may well say who the letter is from.

Just done some calculations, rather than keeping the mortgage at 20 years 7 months when we get a new "product" we can drop it to 15 years by keeping the monthly repayments the same, at the new lower interest rate.

That saves £57,780. Which is a large sum of money.

Or you can retain the existing term and overpay and get exactly the same result with the option to not overpay if cash gets tight in the future. The only limitation there is that you're often only allowed to overpay by 10% of the loan value in a year, so if you're overpaying by the full 10% and you suddenly get a windfall you wouldn't be able to dump it into the mortgage without some kind of penalty.

Big shit moved, still plenty to go but we're in. No sofa yet and no t'interweb until Monday and I'm too knackered to go to the pub. Had to walk back to the other place after a beer to grab a couple of little things, as if in protest the lights all blew as soon as I got in so had to search around in darkness.

Nonsense. The fact it doesn't meet current regs is irrelevant - if it met regs at the time the work was done, it's fine from a regs POV now and into the future. It's a bit of a mish-mash, but it's been done reasonably neatly, so the workmanship that you can't see is probably OK too. No reason whatsoever to avoid.

Ok. To start. As a sparkie I'm well aware that previous work doesn't have conform to modern regulations but as you get further away from the 1970's (which is when that would've compiled) it gets harder to justify. You are aware that the recent 17th edition update now recommends all metal consumer units? And RCD protection in domestic installs is a life saver, especially in 'special locations' such as bathrooms and external power.

A new consumer unit would be tidier, and MCBs and RCD protection will trip a bit faster than wired fuses, but I wouldn't see that as a great priority.

RCD's don't trip in the way that fuses or mcb's do. They sense current loss that would not trip a fuse and will fault within 40ms at 30mA.

Fuses, especially rewirable links, do not offer the same protection.

If you're having other major work done - I think plumbing was mentioned - and you'd consider a rewire for other reasons (I bet a lot more sockets would be handy) then it is probably worth doing the rewire at the same time so you only have one lot of disruption and making good.

The fact that I mentioned a rewire is that with consumer unit in that state will imply that the wiring is in bad shape also. Shared neutrals, green goo from old PVC T&E and unsheathed earths are a high probability, the electrics need checking. Also the fact that modern houses and equipment put a higher load and strain on the elctrical systems than they did 40 years ago.

If I were doing it, I'd be contemplating getting rid of the E7, and probably running Cat5 and TV/video/music distribution throughout.

Of course. Thats what any self respecting qualified electrician would recommend.

@well_is_it Ignore this chancer. You will have to rewire because when you sell the same questions you asked will be asked again.

GAHHHH!

6 viewings in three days, before it even went online.
3 offers 0n the table.
One of over £13k over asking, but they want us to take it off the market right now.

6 more viewings in the diary for tomorrow.

Stick or twist?

Such a rollercoaster this. Causes you to examine your motivations and decision making pretty strongly. When I spot greed in myself it is instinct to stamp it out, but this whole thing is about getting more.
At the moment, selling feels worse then buying.
At least with buying there is optimism of a new phase of life.
With selling it just feels like you are reducing your home to nothing more then a bargaining chips to get money out of people, who like us two years ago, just want their first home.

Are they chain free, solid buyers? If so, stick.

What's your situation too, i.e. are you ready to offer?

We haven't found anywhere yet.
And even if we did, we wouldn't be taken seriously unless we had accepted an offer on our place.

They are chain free. Whopping deposit so banks won't slow things down. Feels like a good bet.

I'd stick then. Sack off tomorrow's viewings and arrange some for yourselves.

I would do the 6 viewings on the saturday (open house?) and see what comes out of that. You might get offered more and be able to afford a better place in an area you prefer. Those people sound pretty keen so seems like they can hang on a few days.

This is the nature of the quandry.

Pretty sure the £13k over asking couple have turned themselves inside out to get there and want it off the market now. We could kiss good bye to them if we said no, so we are really banking on there being another 2 or 3 buyers in this lot on Saturday who would
a - want it
b - start bidding against each other.

For the best outcome in selling your house just ensure you become a self centred, greedy, grasping arsehole for about 48 hours. #TopTips

People pay what they're prepared to pay-what they're happy with. I'd hang on, complete the 6 viewings.

I would hang on too, unless you need a quick sale and the current high bid is solid.

Flat below me (not in London) had some interest pre-open day, although open day was more like about an hour on a saturday morning, some wheeler dealing over the weekend.
As a quick sale was wanted and asking price was met and punter was a known local builder and had cash and stated if you accept my offer today, i will instruct solictors tomorrow.
A higher offer was there........ i got doorstepped by the irate buyer demanding to know why there offer had been rejected (not my flat, not my sale, not my business)
After chatting with seller myself and passing on the offer of "+5k extra and cut out the estate agents so we both win" from the doorstepper.... turns out they started with " we are cash buyer" but changed to " need a mortgage" so the higher offer was not solid.

Quick sale and cash buyer won.
I also win as the builder knocked the place about and added central heating, the pipes run in the new lower ceiling void downstairs so it's quieter now and i have underfloor heating :)

One of over £13k over asking, but they want us to take it off the market right now.

I bet they do.

Get the agent to ring the other viewings and tell them about the offer, if they all run away you can take it, if they all still want to come then let them come, so long as they can actually buy, no point showing anyone round who has a house to sell or owt.

The person who has currently offered won't walk away for the sake of waiting a day, they're bluffing (probably).

Herein lies a lesson - pre market viewings are a bad idea. The agent should have lined them all up for Saturday at half hour intervals, then you wouldn't have had this dilemma. Punch the agent in the left tit.

It's finally been listed: http://www.zoopla.co.uk/for-sale/details/36637485#ZOlgWfXGU4uKrekS.97

Should I buy it?

Wow.
You could have some fun with that

Wtf happened there?

Not sure, something involving an old priest and a young priest, possibly.

The other places on that road go for roughly double that price - but they're not a battleground for ancient spirits and men of God.

Is that a metal mesh over the bathroom window?

Some shit went down there.

By the looks of it, a sheep crashed through the kitchen ceiling, and Scandinavians/Swiss got in and wood panelled the bathroom.

Nice parquet though.

Potential for nice wooden floors elsewhere too. Amazing views. Do it!

flip me you weren't lying when you said it was a complete state!
if you have the $$$ for it and a sizeable budget for the renovation then that would be a great project. (i have no idea about the area mind or whether the figures stack up). either way i'm sure a developer will snap it up rather than someone who needs to live in it at the same time

It's almost like you want to live in a state of perpetual renovation...

personally i'd accept the 13k over asking and be done with it. they'll be turning themselves out like you said and stretching themselves to afford it no doubt. if you go ahead and do the weekend viewings and get nothing else then ur at risk of them turning around and lowering their offer to spite you (i've heard this happening before). if you're greedy and want more do the viewings, if you're happy with someone paying over the asking price you initially wanted for it then accept their offer now.
oh and post up the link as well if it's out there ;-)