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Original poster

How am I meant to buy a house?!

31 replies

HotChocolate16 · 13/02/2022 21:23

So me and my OH are looking for our second house. We have one DC who is 2 and another on the way. We want to stay in the same area, just move into somewhere more spacious with a better garden.

I’m really struggling with viewings. At first we just saw a house we loved and were told we couldn’t view until our house was on the market (?!). So that’s what we are doing. It’s going up anytime from tomorrow until Wednesday. Anyway, have tried to view another house and told them our house is going on the market and we are sorting an AIP out quickly via our mortgage broker this week, however we still can’t get a viewing due to the amount of interest in this property already. Yet ours will go on the market this week and have been told it’ll sell quickly due to the area being sought after and houses not coming up as often. The thing is how am I meant to sell but not buy in this market? I don’t want to rent in between. It’s driving me insane!! Is this normal? How have others done it?

OP posts:
icedancerlenny · 13/02/2022 21:26

That’s the market at the moment! Here you have to actually be under offer in order to view. I’m going into a rental (also aren’t many of those) as there’s no other choice!

Lazypuppy · 13/02/2022 21:26

Once you have accepted an offer on yours you are then in a position to proceed so can offer on other houses. You dont need to rent, you enter a chain.

I wouldn't have accepted an offer from someone who hasn't sold their house as that offer is meaningless

GeorgiePorge · 13/02/2022 21:28

i moved last year in the height of the stamp duty we had an accepted an offer on ours and an AIP before we could view anything...and often missed out on getting viewings if we didn't call up about a property fast enough.

The sale if your property will just have to follow the time line of your new purchase. If the house you are selling is suitable for first time buyers this helps as keeps the first part of the chain simple... but yes it's all a logistical nightmare if you don't want to rent in between.

scootalooser · 13/02/2022 21:29

You accept the offer on yours and then tell the buyers you haven't found a place to buy yet to manage their expectations. Completely standard

AwkwardPaws27 · 13/02/2022 21:29

You accept an offer and making sure your buyer is aware you are looking for a property.

Nothing progresses (no searches, survey etc) so your buyer doesn't spend any money until you have an offer accepted, at which point you proceed. This way, if you decide not to go ahead with the sale, no one is out of pocket.

Grilledaubergines · 13/02/2022 21:31

It’s quite usual to not start seriously house hunting you’re under offer. If you honk your house will be under offer quickly you will soon be able to search and put offers in yourself.

Teeturtle · 13/02/2022 21:50

Yes it’s normal. All you need to do is get yours on the market and ideally under offer, as you have been told.

De88 · 13/02/2022 21:54

We got ours in the market and accepted a slightly lower offer than asking price, on the understanding that our buyer knew we were not going to break the chain and hadn't found anywhere to buy. Ours sold before advertised and she was happy to wait.

user1471447863 · 13/02/2022 22:18

Lie?
How are they going to check.
By the time it gets to the stage where they find out you'll be at or close to that stage anyway.

Boombastic22 · 13/02/2022 22:32

Which bit of the world are you in?

I’d avoid @AwkwardPaws27 advice saying nothing happens until chain complete.

In this red hot area of SW London you’ll still struggle to find somewhere to buy- you need a fully committed buyer who is well underway/close to finishing conveyancing. The market is such you’ll be up against those who are cash buyers/renting , just being under offer unless you are buying a rubbish house is no good!!

Original poster
HotChocolate16 · 14/02/2022 06:36

I’m in the East Midlands! This house is just perfect for us and everything I pictured for raising my family. And those houses are hard to come by in this area. I’m going to try call again this morning and get a viewing. Ours should be on the market today or tomorrow now anyway and I know it should sell fine!

OP posts:
LollyLol · 14/02/2022 06:50

You need to be fully proceedable to make an offer on a desirable property. I sold my house some years ago when the local property market was incredibly hot; it was mad. We put our house on the market on Thursday; on Saturday and Sunday we had 14 viewings (I did them all myself, exhausting!). By Monday we had five realistic offers. Three of them were cash buyers. We accepted a cash buyer offering 20k over our asking price. We told them very clearly we were looking for somewhere to buy, we found a place within 7 days, had one viewing, then our over-asking-price-offer was also accepted. Then the chain fell over later because there was a problem with the home we wanted to buy and we couldnt find another property. So we moved into short-term rental, when that ran out we temporarily relocated 10 miles to stay with a kind family member for a month while we completed purchase of new home. It was a very challenging time but so, so worth it to get the home we wanted.

You have to be more flexible. In a fast market, you need to put yourself in the best position to buy. Being in rental and a cash buyer has cost and inconvenience attached but you might literally be unable to get an offer accepted on a property if you can't put yourself in a good position like that.

EishetChayil · 14/02/2022 06:54

@user1471447863

Lie? How are they going to check. By the time it gets to the stage where they find out you'll be at or close to that stage anyway.

The estate agent will check with your estate agent to make sure your property is under offer.

Why would you even consider lying and potentially messing up a chain? Horrible attitude?

Pembertonrd · 14/02/2022 06:59

My dd found the house she liked and offered to put hers on with the same agent if her offer was put to the vendor.
The agent knew he could sell dd's home in a week and so agreed.

TheGoogleMum · 14/02/2022 07:01

We have been considering selling and estate agents said they just tell buyers they jabe to wait for is to find a property and at the moment as its so hard to get anywhere buyer's don't mind they are just relieved to have had an offer accepted

We might not sell after all as rising interest rates is making it a but expensive and struggling to find anything we like the look of we could afford, our house is really good for the estimated value! I did attempt a couple of viewings and found like you they are full up so need to get those rightmlve alerts on and book in immediately

KPB45 · 14/02/2022 07:04

@HotChocolate16 we’re in a similar position to yourself OP. Our home will be on the market before the end of the month. Obviously we’re looking all the time at what’s becoming available but thinks are moving so fast that we’re just focusing on selling ours, fully intending to move to rented and then buy as “chain free” buyers since that’s what most people are looking for! In our area most things are under offer within 24-48 hours of going to market. It’s crazy!

PurBal · 14/02/2022 07:11

The market is mad. We had a similar thing last year: it started with you need to have your house on the market, then you need to have an offer, then offer and evidence of AIP and proof of funds, in the end we had to put in an offer before viewing.

PurBal · 14/02/2022 07:13

@user1471447863

Lie? How are they going to check. By the time it gets to the stage where they find out you'll be at or close to that stage anyway.
They check. We tried to sell with Purplebricks (wouldn’t again) and EA of places we wanted to see said that because they were difficult to get hold of to check we missed out on a viewing.
HelloDulling · 14/02/2022 07:14

I wouldn’t accept an offer from someone with no AIP, and their house not on the market. You need to be in a position to proceed, the other people viewing it will be.

icedancerlenny · 14/02/2022 07:39

Those saying you don’t need to rent - of course you don’t have to, but certainly where I am the market is dead. There’s nothing at all coming on so I’m going into rented so that I can wait for the right thing rather than lose my sale. I think I’m buying another plot anyway so it’s a bit different, but even if I wasn’t, it would be rent or lose my sale.

AnnaSW1 · 14/02/2022 07:46

That's how things are right now

TulipsTwoLips · 14/02/2022 08:13

If someone made an offer on your house, would you rather they were ready to proceed or had to go through possible months and months of waiting for their own house to sell?

findingsomeone · 14/02/2022 09:56

It's quite standard for the market to be like this, more so everywhere now I think, but it's been like it in some places for years.

We last bought and sold in 2017. We refused to let anyone view if they hadn't already sold their own STC because interest was high and I wasn't going to waste my time waiting for someone to sell when there were plenty of other buyers already in that position and ready to go. In my mind if you're viewing before your own place is on the market you are wasting my time and just having a nosey.

AwkwardPaws27 · 14/02/2022 10:54

@Boombastic22

Which bit of the world are you in?

I’d avoid @AwkwardPaws27 advice saying nothing happens until chain complete.

In this red hot area of SW London you’ll still struggle to find somewhere to buy- you need a fully committed buyer who is well underway/close to finishing conveyancing. The market is such you’ll be up against those who are cash buyers/renting , just being under offer unless you are buying a rubbish house is no good!!

OP said they don't want to go into rented accommodation though - so they'll want a buyer to exchange and complete at the same time as their onward purchase. Totally agree with your approach if you are happy to rent in between though.

The buyer would usually get a mortgage offer within a few days of the valuation survey - these usually last 3-6 months, so if you can delay it a little while you are looking for your purchase it gives you a longer window for your own conveyancing - before "the mortgage offer will expire" starts getting used a leverage Wink

mrsbyers · 14/02/2022 16:36

You sell subject to contract then you look , that’s what we did last two house moves

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