Owning your own home

Montpelier house update for the Bristol folk https://www.rightmove.co.uk/properties/85832491
Left a card through thanking them for the viewing with my details/number. Offered 425, under a bit of pressure from agent given there was a 420 offer out there (really regret not waiting a bit but still learning). Withdrew it when my surveyor glanced at the listing (feedback below) and she didn't accept it (despite the fact I'd evidenced funds, was a FTB and she'd had 2 sales fall through).

Surveyor said:
Valley roofs not a good idea
Raised rear needs planning
Walls out (1 partition, 1 spine) with no paper work is a risk
Stairs non compliant to current regs
Evidence of movement to the right

She's just rang me and asked if I'd like to leave my offer on the table because someone is viewing it tomorrow from London, and reassured me that she bought it from friends 40 years ago and it has an RSJ.

Did also politely say stamp duty holiday has gone and 2 buyers had fallen through and that's not been reflected in the asking price

They're on there, and are doing alright.

Yeah i’m not sure how much you can tell from the “total exemption” filing which is just a balance sheet. Does the fact that retained equity went down £400k in FY20 mean that they made a £400k loss or did they make £100MM profit and pay a dividend of £100.4MM?

Maybe you can take the £350k trade debtors number and assume that it’s ~90 days of revenue and they are making £1.4MM of revenue p.a. - or shifting about £100 MM of property, maybe 5-10 sales a month? Not a huge amount to go around for 34 employees.

i think their fee is much more than1.5%

I remember someone on this thread saying they paid around that (who was it that had the place with the sunken bath, bamboo screening etc?). I was surprised as I expected a premium too.

Currently going through my daily reminder of why I FUCKING HATE estate agents! Useless lying bastards!

if they manage to sell properties between 5 to 10% more than market value, there is a performance fee in that. I imagine

If you were to rent them out you’d be getting a 10% annual return on your capital, assuming minimal maintenance. Like renting a £500k flat out for £4k a month. So either there’s a catch or I’m putting my money into garages.

Calling @Fox

Thanks - I found that extremely helpful! Were you happy with your fitters too? They're around my way. Might start soliciting quotes..

Offer accepted on this place near Axbridge - https://www.rightmove.co.uk/properties/108385646#/
eeek!

Should be interesting going from a tiny garden to nearly an acre - talk to me about mowers people!

Looks awesome, plus "School catchment for Hugh Sexey's Middle School"

lol, yeah unfortunate name is unfortunate but apparently a very good school.

Hugh Sexey's Middle School

Tell me that’s made up by the EA.

Hugh Sexey's Middle School

nope - https://en.wikipedia.org/wiki/Hugh_Sexey_Church_of_England_Middle_School

not far from cocklake I see

Fence of our new house is fucked, borderline dangerous and needs replacing.
We're on a corner plot and the fence runs parallel to a main road.
Current fence is 2m high. We want to put new one in of same height.
Planning rules suggest we need planning permission.
But office is closed for calls and it'll take ages to get approval and it needs doing now.
So we're going to get it done regardless.
What's the likely outcome?

They could tell you to take it down, but document the previous fence size, condiotn and if they cone and fight it show them all the stuff.

Thanks - I guess if someone complains it may be problematic but it seems you can delay the final order to take it down with appeals etc... while coming up with a plan B.

You would have to be a pretty petty asshole to complain about a fence being replaced like for like - not saying it couldn't happen, but would think it unlikely.

Used to live near a school called the “Porny” school

Sister lives in Bruton and they have one too

The seller rejected your offer then asked if you want to leave the offer on the table? Sorry if I'm being stupid.