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.