Daughter buying her first house

[Mottie]

Not sure if this helps from Citizens Advice

From that link:

"If you don't have children and your partner is the sole owner, the only way you may be able to claim long-term rights to the property is if you are able to show you have a 'beneficial interest' in it. This is a way of getting a court to formally recognise contributions you have made towards the home. The court could also recognise an understanding you had with your ex-partner when you bought the home that you would have a share in it if it were sold. If you are able to prove you have a beneficial interest in the home, you may be able, for example, to get the right to live in the home, prevent your ex-partner from living there or get a share of the proceeds if the home is sold".

That’s what happened to the two people Mrs Mottie knew. One made a payment to just put an end to the possibility of court action, the other had to sell up to pay what the court ordered. I think they had had their boyfriend/girlfriend living with them for around 4 or 5 years and both hadn’t had their houses that long before their partners moved in. One couple were engaged when they split up.

 

[Ian H]

Not sure if this helps from Citizens Advice

That’s a good read. I’ll mention all this to her before she moves in but not just yet.

Be careful about offering £115, sounds like an estate agent trap. Sets in your mind that it was worth £115k because they had a buyer at that. I’d go a bit lower the fact is the summer is over, she isn’t in a chain and they didn’t have a buyer and don’t now.

there is a fair chunk of work there.

The neighbour had told us about the £115,000 offer before the estate agent mentioned it. There had been another low offer from a builder that had been refused.

I feel it’s well worth the 115 but if the survey reveals anything major she can always lower that. I’d say it’s in better condition than any of the 3 houses we have bought and she isn’t planning any major changes.

 

[motorbiking]

The above is hugely optimistic. You’d need a lot of proof. I think the CA are just advising what could be established it certainly wouldn’t be easy without documentation.

the BF can be a lodger and rent the spare room. Up to 90 quid a week bills included. Simples no tax either

 

[SirGalahad]

good situation to be in, marriage is my biggest regret financially.

Don't tell me you are a divorcee?

Marriage been brilliant I earn she spends, she's happy and leaves me alone.

 

[Notch7]

You should all move up north. Here’s one I reckon they would sell for £400,000

https://www.zoopla.co.uk/for-sale/d...WFDybfWx7C7AGpeagt7mP3PgcqjuqJ&utm_medium=api

Hells bells that's one hell of a property for £475k

And 3 acres

Listed though.....pain in arris

That would be £2m near me......utterly stupid

 

[durhamplumber]

I'm not sure what the forecast for the market is,

What...Shocking...You mean it is not going to tank,Fact?

 

[Ian H]

Hells bells that's one hell of a property for £475k

And 3 acres

Listed though.....pain in arris

That would be £2m near me......utterly stupid

I like the look of it but couldn’t imagine sitting in those huge rooms watching Homes Under the Hammer

 

[durhamplumber]

Marriage been brilliant I earn she spends, she's happy and leaves me alone.

Never get divorced.

 

[IT Minion]

Hells bells that's one hell of a property for £475k

And 3 acres

Listed though.....pain in arris

That would be £2m near me......utterly stupid

It's been on the market for 3 years, probably some room to haggle further down...

 

[Ian H]

****s sake.

The estate agent just called her, said they have a cash offer to match hers and the seller would rather take that.

Yesterday they told her that her offer had been accepted, they marked it as sold STC, e-mailed her a ‘notification of sale’, she has instructed a conveyancer and arranged a meeting with the mortgage people.

Ae are both fuming. She is going to phone them now to try and change their mind.

 

[ellal]

The estate agent just called her, said they have a cash offer to match hers and the seller would rather take that.

Not saying it's right, but if it were the other way around what would you do?

 

[sxturbo]

Not saying it's right, but if it were the other way around what would you do?

personally i'm a word is my bond type guy, so if i've already said yes to someone then i would stick to that. world would be a better place if we all did that.

 

[Ian H]

Not saying it's right, but if it were the other way around what would you do?

If I were the cash buyer I’d expect the estate agent to tell me it’s sold STC but keep my number incase it falls through.

If I was the seller I’d consider it was sold the day before. I have the sellers address, the guy died and left it to a charity. There are 2 women that live local and are selling it in behalf of the charity. Doesn’t seem very charitable to me

 

[sxturbo]

If I were the cash buyer I’d expect the estate agent to tell me it’s sold STC but keep my number incase it falls through.

If I was the seller I’d consider it was sold the day before. I have the sellers address, the guy died and left it to a charity. There are 2 women that live local and are selling it in behalf of the charity. Doesn’t seem very charitable to me

they might be hoping to get some kind of bidding war going, if your daughter ups hers to counteract, they'll go back to the cash buyer,

it's not happened to me personally but i would be tempted to up the price a couple of times and make the cash buyer pay more,

 

[EFLImpudence]

In England, nothing is settled until the final completion.

Either party can pull out at any time.

 

[Mottie]

If I were the cash buyer I’d expect the estate agent to tell me it’s sold STC but keep my number incase it falls through.

If I was the seller I’d consider it was sold the day before. I have the sellers address, the guy died and left it to a charity. There are 2 women that live local and are selling it in behalf of the charity. Doesn’t seem very charitable to me

Up it to £120k. If that bid is topped you’ll have the satisfaction of knowing that you’ve cost the buyer at least £5k. If they accept, mess them about for as long as you can and then tell them to do one. Might make her feel better. Remember this though, she will eventually get a house and she will say "Thank **** I didn’t get the first one I looked at". Nobody I know has ever bought a house worse than one they put an offer on and lost.