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AIBU?

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Original poster

To ask how houses are selling???

31 replies

Faffafaffa · 30/04/2020 16:36

We were due to sell our flat and had an open day arranged for first weekend of lockdown so obviously it was cancelled. We are looking to buy as well as sell so I check rightmove twice a day at least. Properties are coming on and a few days later are sold STC. If no viewings are allowed how are they selling? Are people offering just based on photos? Some have online virtual viewings / tours but not all. Some are coming on and selling by the afternoon and some a week later and anything in between. We are about to do a video tour to add to our rightmove listing, I have been hesitant because who buys without viewing in person? Well, it seems to be happening, unless I'm missing something? It isn't just the odd house, it is quite a few. For example, new property comes on in the morning, says open house is 7th September. Sold STC next day..... genuinely intruiged and perplexed.

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SunflowerSeedsForever · 30/04/2020 16:39

Some are sales which have fallen through and houses are being relisted- so people may have viewed the house weeks ago but missed out.

My DD is about to exchange/complete on a house - the one up the road that they missed out on has just popped back up and so they are in a bit of a dilemma.

Original poster
Faffafaffa · 30/04/2020 16:41

Thank you, I hadn't thought of that! That makes sense. I'm sure some must be that scenario, although some say brand new to the market and there is no previous history....

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movealongnothingheretogawpat · 30/04/2020 16:41

I have wondered that but to be honest I thin the houses coming on and selling might be ones that were previously on ( and viewed) and then removed from Rightmove - right move is expensive , then maybe the previous viewers have contacted the agent and had an offer excepted

Original poster
Faffafaffa · 30/04/2020 16:43

Thanks, I think some must be. Our estate agent has told us that they are selling properties from video viewings now successfully, I thought they were exaggerating or lying but maybe they genuinely are!

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Pipandmum · 30/04/2020 16:44

I haven't noticed any houses on rightmove selling. I've got a flat up for rent and was very surprised that I had an offer on it today- but that's renting doubt anyone other than a big time investor would buy without viewing, and even they would probably only consider new builds or off plan.
And why market a property with an open house scheduled for five months away? Makes absolutely no sense.

SerenDippitty · 30/04/2020 16:46

Our neighbour put their house up for sale just before lockdown was announced, it's not even been put on the estate agent's website yet.

Original poster
Faffafaffa · 30/04/2020 16:48

I go on every day and within my search criteria it is happening very regularly. None of these are new builds. I suppose the open house in September was scheduled then for any manner or reasons, perhaps it is tenanted until then or that's when they think things may be more normal. As it is it sold immediately. Was a good price. I should add I am in a desirable area where things sell easily. Our flat had 16 people booked in for the open house.

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Maroon85 · 30/04/2020 16:50

No mortgage valuations are taking place, so I am guessing some people will put an offer in to secure the house now, knowing it won't be able to proceed for a while and they can easily drop out later if an actual viewing shows up anything that a video one didn't.

Original poster
Faffafaffa · 30/04/2020 16:50

I name changed for this so it won't matter if I put the location - Brighton and Hove.

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Original poster
Faffafaffa · 30/04/2020 16:51

Maroon - good point. Just all seems a but bizarre. I wonder if it will become the new normal and people will genuinely begin to feel comfortable buying off video viewings. I certainly wouldn't!

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Ravenclawgirl · 30/04/2020 16:52

You're right they are selling on the basis of video viewings. However I wouldn't bank on them all going through as the mortgage providers have all changed their LTV criteria and asking for a minimum 15% deposit which tends to cut out first time buyers.

Mirrorxx · 30/04/2020 16:54

I’m in Manchester and a house on my road has been put up for sale and sold in the last week. They did online viewings.

MrSheenandMe · 30/04/2020 17:02

Interested too as I was planning to sell. Not sure how realistic offers will be. Wondering whether to wait. Prices on RM are still high and EAs say interest good. But what is the true story in terms of "money where your mouth is" type of thing

lastqueenofscotland · 30/04/2020 17:09

Online viewings, cash investors buying unseen, desktop valuations...

Original poster
Faffafaffa · 30/04/2020 17:11

Thanks everyone. I will report back if we sell off the back of a video viewing!!

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Original poster
Faffafaffa · 30/04/2020 17:11

Our estate agent is also saying they are getting tons of interest...

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GreyGardens88 · 30/04/2020 17:15

Some of the "video tours" I've seen are crap, just a slideshow of the listing pictures with a musical background and a bit of fancy editing. What's wrong with asking the owner to walk around the house with their phone camera?

sunglasses123 · 30/04/2020 17:16

I wouldnt buy a house having just done an online viewing. However there are a lot of people with a lot of time on their hands and they could well be some time wasters.

I had a friend who had an offer made (not recently!) by a chap who said finance wasnt an issue. What he actually meant that because he was HIM mortgage companies wouldnt have an issue in lending him some money. Needless to say the sale didnt go very far.

greeneyedlulu · 30/04/2020 17:17

I would take the stc status with a pinch of salt to be fair. The house I wanted to buy 2 years is still listed as stc when in fact the sale fell through

ChrissieKeller61 · 30/04/2020 17:18

I can’t even get a valuation done on mine, given let’s be honest they usually do a drive by at best it seems remarkable - LTV is 75% so it’s an unnecessary delay

emmathedilemma · 30/04/2020 17:19

Are they likely to be buy to let properties? Landlords are often less picky about properties so might be more included to put in offers based on photos or videos.

Original poster
Faffafaffa · 30/04/2020 17:21

Agree some video tours are awful. I've been instructed by the agent. Walk round v slowly, every room, every angle with all features pointed out. Going to take ages!

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Original poster
Faffafaffa · 30/04/2020 17:22

Certainly wouldn't say buy to let, not right kind of properties / price bracket.

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Fern204 · 30/04/2020 17:22

We have had an offer accepted after an online viewing. We were buying a house in the same road but the survey was dreadful so we pulled out. This one was listed same day, so we offered straightaway. Our chain was already advanced, as is our vendors. The house has been well maintained, we have a low LTV and lender is doing a desktop valuation. We have savings available if unexpected work is needed. All being well, we would hope to move about end of June.

Fern204 · 30/04/2020 17:23

Also in Brighton & Hove