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Join our Property forum for renovation, DIY, and house selling advice.

Join our Property forum for renovation, DIY, and house selling advice.

Property/DIY

Is this a bad time to sell?

20 replies

SharonBotts · 21/10/2015 19:38

Our sellers have just pulled out of our deal the day before exchange. We are obviously very disappointed (devastated!) but are trying to gather our thoughts and figure out what to do next. Obviously we are now in great danger of losing out on our onward purchase as that house will go back on the market and we are having to start from scratch selling our house again. But the question is whether we should do this straightaway or are we much better off waiting till the Spring? My feeling is that no one is really looking to buy at this time of year but is that really the case? Any advice on the late Autumn/Winter market? Should we resign ourselves to losing our new house and just start all over again in the Spring or do we risk re-marketing knowing that if the house doesn't sell quickly (as it did before) we will leave that footprint on the Internet (prospective buyers will see it did not sell previously) and maybe compromise a sale in the new year?

Arghh! Why are people allowed to pull out at the last minute??

OP posts:

Report

SharonBotts · 21/10/2015 21:34

Bump...

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LaFlottes · 21/10/2015 21:37

Oh no, this is such a horrible thing to happen, I'm sorry to hear it.

I would go for it and at least try and get another buyer. Perhaps try for a month, and then if no luck, you could come off for Dec - Feb that would be a break before trying again in the spring if you don't get a buyer.

How fast do houses normally sell near you?

SharonBotts · 21/10/2015 21:46

Very fast in my area. But there are no guarantees. And I'm just wondering if this is simply not a good time to sell. I mean, are people really house-hunting in October?

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Titsywoo · 21/10/2015 21:49

I think it makes very little difference to be honest - people are always looking for homes not just during the spring/summer.

wowfudge · 21/10/2015 21:56

We're about to go on the market - it's now or wait until the new year.

wowfudge · 21/10/2015 21:57

Oh and sold my old place mid October last year.

silversixpence · 21/10/2015 22:01

We have just gone on the market and estate agents are saying its busy until mid November usually.

Normandy144 · 21/10/2015 22:02

I'm only one person, but we are looking to buy at the moment. Started our search in September and willing to keep looking for as long as it takes! We are in rented and so quite flexible but want to be moving by the spring. I'm well aware it can take months to actually complete so I don't see the point in stopping the search now.

RaphaellaTheSpanishWaterDog · 21/10/2015 22:03

Just typed long post and lost the lot

Anyway, last year put our house in slow-moving, rural Wilts on market 1/09. Mid-range price, refurbed to v.high spec. EA said we had window of 6 weeks till mid October to secure a buyer if we wanted to be in new house by Christmas as market would then slow down. Priced realistically and went SSTC (asking price) 8/10. Completed 16/12. If we'd not got an offer by 14/10 we would gave taken it off and remarketed in new year.

I'd give it a try if things are selling in your area. GL

wowfudge · 21/10/2015 22:04

That's the thing isn't it Normandy? If we get an acceptable offer before Christmas, we don't except to actually be going anywhere until next Spring.

RaphaellaTheSpanishWaterDog · 21/10/2015 22:27

have

Normandy144 · 21/10/2015 22:54

Totally agree wowfudge. It actually suits us not to complete until the new year. I fully expect availability of properties will slow down but I'd rather keep looking. Who knows we might get a bargain if a quick sale is required at an awkward time of year.

SharonBotts · 22/10/2015 19:44

Who knows we might get a bargain if a quick sale is required at an awkward time of year.

Arghh!!! See, this is exactly the kind of attitude that I'm scared of. It shows that people do think that people who are selling at this time of year must be a bit desperate or are in a weaker position because of a lack of buyers looking. Really have no idea what to do.

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Duckstar · 22/10/2015 19:55

It doesn't matter if other people think you are desperate. You don't have to sell. You may it clear to your EA that you aren't going to accept a knocked down price. Why not put it back on for 6 weeks. Maybe look to do an open house beginning of November? If you aren't getting any viewings/ridiculous offers then you can always take the property off the market and re-try in the Spring. You have nothing to lose by doing this and you might find perfect buyer.

You have my deepest sympathy. I have had several threads about nightmare buyers recently. We had to pull out of our first sale because buyers messing us round, luckily vendors stuck with us. Second buyers tried to gazunder us day before exchange! We are still proceeding (at original price) haven't exchanged yet though - so we will see.

Best of luck with it all.

goldenlilliesdaffodillies · 22/10/2015 20:28

I was also wondering if there is any point keeping our house on the market between now and January for similar reasons. Our house as been on the market since the end of May. The longer it stays on the market, the less attractive it will appear. However many other local houses around us have been on for longer and still not sold either.

Will anyone actually buy a house between now and the Spring? We have got 4-6 months to sell ours so we can still buy the next house (which is currently being rented out to give us some time).

Boobz · 22/10/2015 22:24

I am looking for a house! And am slightly obsessed now and am checking right move for new additions almost twice daily!

BasinHaircut · 23/10/2015 10:27

I don't think the time of year has much to do with it if people actually want to move. And if someone wants your house they will buy it for what they are willing. To pay regardless of whether it's on the market at Xmas or not.

We made an offer on a house at the beginning of December last year. Accepted an offer on ours 2 weeks later, the house didn't even go into the market until after we had our offer on next house accepted and we still had a bidding war!

The demand is there.

SharonBotts · 23/10/2015 10:32

That's reassuring to hear, Boobz and Basin. Thanks!

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Wishful80smontage · 23/10/2015 10:32

We had buyers pull out right at last minute on the fri night bastards- anyway we were honest with the house we were buyer they said they could give us a fortnight to find another buyer- we thought no chance...we had a cash buyer no chain come round and had sold the house by Monday dinner time we were ridiculously lucky I know but worth giving it a go OP- good luck

whatsthatcomingoverthehill · 23/10/2015 15:59

If you're near a good primary school then you might get people rushing to buy before the application deadline (mid January round here).

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