Hi
Mother in law is trying to sell her house in Kent to move closer to us and give us some money so we can actually get on the housing ladder at the age of 44.
Problem is, its a big old 1910 Chief Miners house in an old mining village. Its surrounded by lovely views, train station a few mins up the road, nice and quiet. Its got large front and rear garden, workshop and drive for 3 cars. One large living room, large dinning room, large study room and a kitchen downstairs.
Upstairs seems to be the issue. It was always a 4 bedroom house and due to the era it was made, one bedroom is accessed through the master bedroom. You walk through the master room, then onto a corridor above the stairs which only leads to the 4th bedroom. All bedrooms are big and have windows etc.
Its always up to now been a 4 bedroom house, hence the bigger room sizes and floorplan size compared to the 3 bedrooms in the village.
Two new buyers both had mortgage survey which said it needs to be based on "3 bedroom that has sold recently in the area". The 3 bedrooms sold are all half the size on the floor plan etc and all three were auctioned due to needed tens of thousands of pounds to upgrade. These sold for £230,000. The cheapest 4 bedroom in the area is £450000. Three of which are sold subject to contract but the surveyors said they only take sold properties and not sold subject to contract prices.
Mother in laws house is to a high standard all around.
Should we ruin the big master bedroom and put a cheap, DIY stud wall through to make a tiny corridor to get them to class it as a 4 bedroom when looking at similar prices for valuation?
The house insurance and council have it as a 4 bedroom and it has always been a 4 bedroom, brought as a 4 bedroom etc.
Any advice? If we went with the 3 bedroom it would mean nearly halving the price and leaving nothing for our family to use as a deposit for a mortgage.
Mother in law is trying to sell her house in Kent to move closer to us and give us some money so we can actually get on the housing ladder at the age of 44.
Problem is, its a big old 1910 Chief Miners house in an old mining village. Its surrounded by lovely views, train station a few mins up the road, nice and quiet. Its got large front and rear garden, workshop and drive for 3 cars. One large living room, large dinning room, large study room and a kitchen downstairs.
Upstairs seems to be the issue. It was always a 4 bedroom house and due to the era it was made, one bedroom is accessed through the master bedroom. You walk through the master room, then onto a corridor above the stairs which only leads to the 4th bedroom. All bedrooms are big and have windows etc.
Its always up to now been a 4 bedroom house, hence the bigger room sizes and floorplan size compared to the 3 bedrooms in the village.
Two new buyers both had mortgage survey which said it needs to be based on "3 bedroom that has sold recently in the area". The 3 bedrooms sold are all half the size on the floor plan etc and all three were auctioned due to needed tens of thousands of pounds to upgrade. These sold for £230,000. The cheapest 4 bedroom in the area is £450000. Three of which are sold subject to contract but the surveyors said they only take sold properties and not sold subject to contract prices.
Mother in laws house is to a high standard all around.
Should we ruin the big master bedroom and put a cheap, DIY stud wall through to make a tiny corridor to get them to class it as a 4 bedroom when looking at similar prices for valuation?
The house insurance and council have it as a 4 bedroom and it has always been a 4 bedroom, brought as a 4 bedroom etc.
Any advice? If we went with the 3 bedroom it would mean nearly halving the price and leaving nothing for our family to use as a deposit for a mortgage.
