To be sick and tired of trying to buy a house?

[TinyGlassOwl]

Found out today that we've had yet another offer rejected. This is the third house we've offered on, asking or over asking price each time. We've viewed 15 houses now. We don't live in the area we're buying in so it's doubly tiring as it means travelling and spending the whole day just to view one or two houses. I am so tired and fed up with the whole process and it feels as if we're never going to find a home.

We are FTBs, are lucky enough to have a big deposit so would only be borrowing x1 of our joint salaries at the most (ie very affordable mortgage), have already got a solicitor lined up etc etc. We have shown our mortgage in principle to each EA we've offered through, we've had all their checks etc. I feel - perhaps wrongly? - that we are a really good bet! We never seem to get much feedback from EAs when our offers aren't accepted although I know we've lost out to cash buyers at least once.

Is this just how it is? Is it just bad luck in a fast-moving market or is there anything else we could be doing to make ourselves more 'attractive' as buyers?

[FoolsAssassin]

It sounds hideous. We’ve been thinking about moving but can’t see anything we like and reading this I can’t face going through it and will stay. We’re getting people post on our local Facebook page regularly saying they are trying to move in but nothing available.

[UniversitySerf]

A house on my road came up for sale last week. I was chatting to a friend on the phone and she was getting it up on right move to have a nosy. They have had an alteration to the kitchen and I wanted her opinion as it was fab inside and I am idea pinching. She couldn’t find it turned out it was already sold STC in about 5 days. The current market is bizarre.

[Vindicated2021]

You are not alone. FTB too. We keep having viewings cancelled because they are going before we get a chance to look. That's fine, but when you have to arrange childcare/leave work early it gets really annoying. We went to view one yesterday needs so much work at least £20k over budget but the vendor (who just happens to work in the estate agents) won't budge because "in the current market he knows he will get it". Probably by a property investor who will flip it and put it on for an extra £40k or keep it and charge an extortionate amount of rent for it. Makes my piss boil. 😡

[Roominmyhouse]

We had this when we were trying to buy 7 years ago, so it’s not just the stamp duty holiday. We had viewings cancelled multiple times because the houses had sold so it took a while to even get to view anything. We. Offered on 2 houses that were on the market for £185k and £190k but lost both and they both sold for £210k. Then we got lucky as the estate agents called us about a house they’d not even listed yet. They did an open day and it was on for offers over £200k. We offered £205k and it went to best and final so offered £210k and were fortunate enough to get it.

You have to keep going and try and get in with the right estate agents so they contact you first. Plus be willing to pay just that bit more than you’d planned. We originally only wanted to pay £200k max and missed out on a lovely house because of that when in reality we could have afforded the £210k it went for and we paid for ours in the end. Very frustrating!

[EmpressWitchDoesntBurn]

That’s utterly shit, Frank.

[FrankButchersDickieBow]

Just to add, they haven't had any other offers. Twats.

[FrankButchersDickieBow]

We offered the very top end of an 'offers in the region of' House.

Buyer has come back and said they want more money.

Only house that has come onto the market that we like a d ours is sold.

[flashbac]

I've run out of options. There's just not much stock coming onto the market. It's depressing!

[Notadramallama]

when I was trying to buy last summer I offered asking price or over on four houses and lost them all despite not needing a mortgage, and having an offer on my house that did not depend on the sale of another property. I was so fed up and frustrated with the whole process. However, the prospective purchasers of the first house I offered on dropped out, so a month after I viewed it my offer was accepted. I moved in last autumn and am very happy with it. Those houses you've lost out on might come back on the market yet - don't give up.

[flashbac]

If you pick houses that need work, then you will probably have more luck, because most people lack imagination and/or daring. Look at the website filters and choose the houses that have been on longest - some will have been on for years. There will always be reasons why - but those reasons are usually things that will bring down price and not involve as much faff as most people imagine.

There was an overpriced terraced house I was interested in that needed gutting as it hadn't been touched since the 80s. It was reduced by 10k last week and now I'm told someone has bought for OVER the asking price.

[ChristmasFluff]

Are you going for 'ready-to-move-into' houses? Cos those will always go quickly and have many offers.

If you pick houses that need work, then you will probably have more luck, because most people lack imagination and/or daring. Look at the website filters and choose the houses that have been on longest - some will have been on for years. There will always be reasons why - but those reasons are usually things that will bring down price and not involve as much faff as most people imagine.

The only thing that cannot be worked around is location.

[Hyperion100]

Yep...5 offers since Oct/Nov - Beaten on all of them.

We're looking to buy our next home but have already sold so are basically FTB'ers and very proceedable. We thought that would put us in a really good place.

Turns out, there are a million buyers just like us with a lot more money to spend.

[KoalaOok]

You just have to keep trying unfortunately.

[deathbyprocrastination]

YANBU the whole housing market is an absolute nightmare. I'm on the other side of the equation here. Been trying, for 10 months, to sell my mother's flat so that she can move closer to us for care reasons. Numerous hurdles and stresses, untold time spent chasing. I feel the whole process has sucked years of my life from me. It's horrendous.

[FedNlanders]

We have offered asking on 5 now and people have gone over. We are FTB too. Getting fed up

[osbertthesyrianhamster]

@peak2021

Buying a house is subject to a process that has needed reform for 40 years. The stamp duty holiday has just made it worse and will not build one more house.

I'd favour Scottish law for house buying unless someone can improve on it. I would also have estate agents registered with a named responsible person (like a pub landlord or landlady is named).

This!

[peak2021]

Buying a house is subject to a process that has needed reform for 40 years. The stamp duty holiday has just made it worse and will not build one more house.

I'd favour Scottish law for house buying unless someone can improve on it. I would also have estate agents registered with a named responsible person (like a pub landlord or landlady is named).

[flashbac]

I'm chiming in. Flipping annoyed about it all now...
The stamp duty holiday SHOULD NOT have been extended.

[Sparklesocks]

I know what you mean OP, we are FTBs who lost out on two houses recently as we were outbid despite offering over asking (not even sure how much by as the agents were very vague). Also all the viewings we’ve done have had similar couples before and after us - it just seems so competitive that it’s hard to imagine how to break through.

Everyone keeps saying it’ll come etc and we’ll find the right one - I appreciate their support but it feels like ‘the right one’ will also be the right one for dozens of others. Feels like the only way to be successful is to offer a huge amount over asking, but I don’t know how that’s possible without compromising on a property not worth anywhere near that (and our requirements are already very simple and non fussy!).

We have a healthy deposit, an AIP, a broker ready to kick into gear etc - just can’t get an offer accepted.

[dotdashdashdash]

When we bought our first house 12 years ago, it was the crash so things were definitely slower but when we bought 4 years ago, houses were being snapped up- we'd organise a viewing in the afternoon for the following morning and get a call on our way to the viewing to say they'd already had x offers over asking so not to come! We sold ours, we had 11 offers, 8 over asking. The house we bought had 9 offers, all over asking. At one point we had offers in on 4 houses at the same time because we were so sick of having offers rejected and then missing out on other houses.

I don't think there's much you can do 99.9% of time, sellers go for the highest proceedable offer.

[totorostoes]

We’re in a similar situation, offer turned down for a house the other day, there were 14 other offers placed on the property within the week it was on rightmove. Feeling deflated and like we don’t have a chance!

[TinyGlassOwl]

The agents don't seem that bothered - I guess since properties are flying off the shelves they don't have to be!

We could wait a bit, but that would mean all the added hassle of another rental, putting stuff into storage, two lots of removals etc. I'm not sure I can face it! But I know it might be inevitable.

[nellyburt]

If the town isn’t desirable are you better waiting it out as some of the prices here do not seem sustainable once this property peak is over. A good friend bought a house that had previously been on the market for over a year. Will it sell when she needs it to? Who knows. You could rent and then be in an excellent position if the market slows down

[SchrodingersImmigrant]

[quote TinyGlassOwl]@SchrodingersImmigrant yes this is in a town that would have most of MN reaching for the smelling salts [/quote]
Well they just say that😂
Like not reading Daily Mail😂

Good luck. Have you asked agents what could help you? Or maybe a mortgage advisor? Mine dealt with these things as well. She was super helpful

[TinyGlassOwl]

@SchrodingersImmigrant yes this is in a town that would have most of MN reaching for the smelling salts