Sale feel through on survey twice… what to do now
My house is a timber framed period house from 1750, loads of period features and character. It was near derelict when I bought it and have spent almost 100k of my savings doing it up. It’s liveable now and up to current building control standards.
Unfortunately I have had two buyers now pull out at survey stage - one said they needed 80k of works but had no quotes and refused to show me the survey so we told them to sling it. The second now has pulled out as they can’t afford the necessary works to the side wall (around 10k). I have offered a 15k off their accepted offer but the EA isn’t hopeful this will work.
My questions are (if I put it back on the market): 1. Do I put the house back on the market at a 15k reduced price but tell potential buyers that this work needs doing before they get a survey? 2. What happens to me/the house when I come off my fixed rate 1.5% mortgage in May 2025? I can’t prove I can afford the new rate so I’m scared they will repossess.
I’m sorry if this is silly questions, it’s my first time selling and I feel hopeless and worried that I will have to sell for negative equity at auction or something :(