A couple of months ago, I found the perfect house. It wasn't in my chosen area but in every other way it exceeded my wildest dreams. Two big bedrooms, through-lounge, fabulous garden, great kitchen and private parking round the back.
Even better, the owners wanted a quick sale! I put in an offer, had to up it by £10,000 owing to competition, and had my offer accepted because I was a cash buyer.
And then my dream came crashing down. I tried the walk to the station and it involved having to go through an underpass. Well, I don't care how well lit it is, I am NOT going through a creepy, stinky underpass in the daytime, let alone at night! In the day, I have been known to walk half a mile out of my way to find a way of crossing a major road above ground.
With my heart in my boots, and feeling dreadful at having to let the vendors down, I withdrew my offer.
Since then, there hasn't been anything I have remotely liked. BUT... prices are coming down a little, and there seems to be a sudden influx of ex-Buy To Let properties onto the market. Many of them are ex-Local Authority flats, which are a big no-no, owing to the risk of getting a sudden huge repairs bill dumped on you, which the council tenants wouldn't have to pay. A friend of mine was landed with a bill of £49,000. He handed the keys in to his mortgage company and walked away.
I wonder if there is any form of insurance you can take out which would protect owners of ex-LA properties against large bills? Hmm... must look into it.
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