I've been screwed.

[Datadogie]

Has it always been a Short Term Tenancy as 40 years seems a long time or is it classed as a Tied house?

Originally tied cottage until we merged with the university some 15 years ago. I know it makes no difference. But my take home pay has always been the same
regardless whether I paid the Agricultural wages board rent or the University's rent when my pay went up with the merger.

 

[Deleted member 65149]

I was told by the Housing Manager to wait till the last of the houses went on the market and put in a cheeky fair offer.

It's possible that the Housing Manager genuinely thought at the time that it was a good bit of advice. But it was only verbal advice and in no way was it a contract. It was no different to any advice that you may get here. It would have been nice if he'd made it clear that it was just what he thought might happen and that prices might rise or fall in the meantime. It doesn't sound as though you've been intentionally screwed. The decision to hold off on buying was yours, so unfortunately you'll just have to lump it.

About 20 years ago I listened to some advice on buying shares in a company that was about to be floated on the stock market and expected to soar in value. The company took a dive and I lost thousands; it was my mistake and mine alone. I just had to accept that it was my mistake. The guy who had advised me was quite upset about having misled me, but even more upset about what he lost on the same deal which was about ten times my investment!

 

[Datadogie]

Looks like I will have to suck it up and pay.
Reply from Scott our solicitor. Minutes ago.
Ultimately it is up to the seller to maximise their interest so I would say from a pure purchase point, you would need to go to at least 150k to try and secure it – totally appreciate where you are coming from though. Scott

I would get banned from here if I were to write the expletives that are going through my mind.

 

[Teego]

I was told by the Housing Manager to wait till the last of the houses went on the market and put in a cheeky fair offer.

So, the Housing Manager was trying to do you a favour? But did he have the authority to make that suggestion on behalf of the company?

 

[Datadogie]

So, the Housing Manager was trying to do you a favour? But did he have the authority to make that suggestion on behalf of the company?

The Estates Director also knew. He told me to hang on too. But as you say it was verbal and I don't have a leg to stand on without proof.

 

[Dryce]

Looks like I will have to suck it up and pay.
Reply from Scott our solicitor. Minutes ago.
Ultimately it is up to the seller to maximise their interest so I would say from a pure purchase point, you would need to go to at least 150k to try and secure it – totally appreciate where you are coming from though. Scott

I would get banned from here if I were to write the expletives that are going through my mind.

In blunt terms you took a risk. You yourself used the term 'fair cheeky offer'.

You have my sympathy. A year ago in your position I would have held off assuming that the market would waver and possibly drop further.

Instead it has gone the other way - we see people getting / paying ridiculous amounts for properties at the moment.

 

[Harrythedog]

I'd offer the £140k just to see what they say. Shy kids get nowt

 

[Stratman]

I was told by the Housing Manager to wait till the last of the houses went on the market and put in a cheeky fair offer.

If that is what the housing manager said I don't see anything committing them to selling it to you for less than market price. You may have inferred it, but it looks like there was no obligation on their part.

 

[C240Sport97]

You took the risk by not accepting the £140k thinking you might get it for less later or at the end. You now complain because your bet has gone against you.

Ultimately, it was your desire to "game" the system that has got you where you are now.

I see no moral or legal reason why you should be offered the property for £140k.

 

[Athey]

With my housing association, I can buy my home after 5 years. I get 35%off and an extra 1% for each successive year. Only catch is you can’t sell for 5 years afterwards.

 

[merc estate]

Sorry to hear your tail, "Trust only the person you see in the mirror" its a shame but thats life, don't let it upset you it won't make any difference to your situation. As for resale value when you are gone, you won't be around to notice any difference and if you are leaving it to your children, they will have a holiday on the difference and you have been worrying about it for years, they will blow it in a fortnight. Just get it bought and enjoy how every many years left to enjoy it. Good luck i hope it all goes well. Just as a reality check you couldn't get a garage round here for 140k so it sounds a result. Try and look on the good side.

 

[chic0821]

I think he was trying to do you a favour that backfired. Last year, the housing market in Aberdeen was going one way, down. As you said the first went for asking price of £140000. He maybe assumed the price would fall farther with Covid & oil price, but the reverse happened. Put it behind you & buy it. Everything is a guess, if oil price goes up, in a years time you will think you have a bargain, if it goes down you will be on here again saying " I've been screwed" but I hope not.

 

[Darrell]

“I’ve been screwed”
Have you??

 

[Deleted member 150136]

Surely you only think you've been screwed?
You're not paying over the odds, if you were then yes.
You chanced your arm by leaving it a year and unfortunately your gamble didn't work out.

If you're offer of a cheeky offer was accepted you should have snapped their hand off.

I am in a similar situation, just finalised my divorce moved the old mortgage over to the ex etc etc....I lost a year to covid and family deaths so had to hold off, now the house I'm living in(rented) which I intended to buy, the price has shot up and put me in a position where I have to totally rethink my options.
I know how much I could have had the house for 18 months ago, but not now, but I was always promised the house for a good price.
Have I been screwed?

 

[m80]

You may have mentioned already having another chat with the 2 bods in question.
If not see if they will. Get a feeling of what offer will win for you.

Your further risk is losing the property while attempting to save a few quid with another 'cheeky' offer.

They might sympathise and point you in a reliable direction,
or they might not.

 

[Datadogie]

If only I could turn the clock back. I hope they have an ounce of sympathy and let me buy for the first selling price of £140,000.
But I am scared that they may take the approach of tough you have to bid with the rest.

 

[KillerHERTZ]

If only I could turn the clock back. I hope they have an ounce of sympathy and let me buy for the first selling price of £140,000.
But I am scared that they may take the approach of tough you have to bid with the rest.

That may well depend upon how you react to them, if you go in all guns blazing, mentioning that they have screwed you over - or that you will goto to the press (as you mentioned earlier) it wont end up in your favour.

Good luck with the conversation

 

[Datadogie]

That may well depend upon how you react to them, if you go in all guns blazing, mentioning that they have screwed you over - or that you will goto to the press (as you mentioned earlier) it wont end up in your favour.

Good luck with the conversation.

This bloody pandemic does not help either for face to face discussions. If I go to the press it will be after the house is bought and I am retired. But by then, I will probably have cooled down. Can't really afford to lose either.

 

[Fununcle]

I think you will find as the property is owned by a university they are legally forced to sell for the highest possible price.

 

[Datadogie]

I think you will find as the property is owned by a university they are legally forced to sell for the highest possible price.

They have sold at least two that have not been on the market.