I have a bit of a housing dilemma and am kind of using this as a sounding board to get my thoughts in order - if anyone sticks with my waffling and is also able to offer any useful advice then even better!
I had a chain all set up - buying a house that needed removating - then my buyer had to pull out. Gutted. My house went back on the market as did the one I wanted to buy. I have had a few low offers but one lady recently is getting nearer (£5k off my last offer) and also needs to complete before the end of august as she's selling to a cash buyer. Hopefully she'll up her offer.
All this re-jigging the figures has caused me to look hard at renovation costs etc and this, combined with me spending this weekend packing by myself, has made me rethink whether I want another 'project'. I had forgotten how much hard work it is, and the last time I had my folks to help (who can't now). I'm not sure want to buy this house anymore
I have seen another property for sale in the same area - £20k more but that's what the renovations would have cost anyway. So it'll end up being the same. Argueably the original house would then be worth more, but who knows. Am trying to view tomorrow. I am just about there with the mortgage etc on the original house. I would obviously lose my legal fees to date (for searches etc), but could I *just* move the mortgage across? Obviously I would need a new survey etc, but would I need to actually apply again with new references sought etc (this seems to have been the time consuming bit)?
And is it realistic to get this done before the end of August??!
Although the original house is back on the market is hasn't had much interest as it does need a lot of work. I feel awful that I could be about to ruin it - ie 'hooray, i've got a buyer but I don't want to buy your house anymore'.
Any words of wisdom would be appreciated!!