A Quick Update

Several of you were kind enough to wish my son well in his attempt to buy a cottage at Auction. The rules of buying in that way are that once your bid is accepted you are legally committed to go ahead and buy the property – contracts have been exchanged and you have a brief time to hand over the money. He immediately applied to increase the mortgage on a house he owns and rents out in order to have funds to cover the bid he planned to make. As he had overpaid the mortgage for a long time he was assured there would be no problem but the paperwork confirming that his request had been approved did not come through in time so he dare not bid. He is being pretty philosophical about it and will keep looking. With the funds p[resumably available soon he can move immediately if another auction comes along or as a deposit on a private sale.

Thank you all for your support and I know he appreciated it too. If he finds somewhere else I will be posting about it.

9 thoughts on “A Quick Update

  1. Jayne May 12, 2022 / 11:18 am

    So sorry to hear that, yet again, an organisation who really ought to be able to move faster scuppered his plans.

    But there is always the chance that if this property is meant to be his then it may not sell at auction and he could get another chance later?

    Liked by 1 person

  2. Laurie Graves May 12, 2022 / 11:57 am

    Well, dang! But who knows? Maybe a house he likes even better will come along. Fingers crossed.

    Liked by 1 person

    • Going Batty in Wales May 13, 2022 / 7:30 am

      He is thinking along the same lines Laurie!

      Like

  3. cattitudegrooming May 12, 2022 / 1:21 pm

    Oh what a shame. The cottage frontage pictured promised a delightful house. Still as mentioned by someone else if it’s meant to be it will happen or there will be somewhere else even better waiting for him.

    It was lovely to see his cat supervising the camper van improvements, my two Maine Coons seem to feel that I am incapable of anything without their permission and constant supervision!

    Liked by 1 person

    • Going Batty in Wales May 13, 2022 / 7:32 am

      Odin certainly likes to know what is going on! He loves coming to visit me because there is so much more wild space here than at home.

      Like

  4. anne54 May 12, 2022 / 10:49 pm

    Such a shame for him, but the one that he does buy will be the perfect one!

    Liked by 1 person

    • Going Batty in Wales May 13, 2022 / 7:36 am

      It will!

      Like

  5. nanacathy2 May 13, 2022 / 7:57 am

    Sorry about the disappointment. Has he taken out home buyers insurance to make sure he doesn’t get out of pocket ?We had two failed purchases before our current home. Given all that happened since, it really was for the best. I think auctions sometimes equal something dodgy about a place. Watched too many homes under the hammer with Mr E when he couldn’t do much. Good luck with the search, the right home is out there.

    Like

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