Buying and selling support thread?!

[GinIsIn]

Hi, I know there's a sellers' thread, and a buyers' thread, but I am knee deep in trying to do both at the same time and starting to feel like my head might explode and not sure which thread to visit to beg for someone to send Anyone else?!

Thanks Pass. It is a small new build in a cul-de-sac near a good school so that probably explains it. We have only had three viewings booked in too so not a mega rush, perhaps next week will pick up for everyone. Fingers crossed all progresses smoothly with our potential buyer.

We had our first 2 viewings yesterday afternoon. When should I get any feedback from the estate agent? Hoping we get a few more next week or next weekend too

If the EAs aren't open today or just have someone answering the phone, rather than the regular team, feedback will come on Monday.

A good agent will ring the viewers to chase feedback. Unfortunately some people just don't return their calls and, other than they obviously don't want to buy your house, you won't find out why.

Hey

We selling a flat to FTB and buying from a person going to rented.

So small chain

Right now, 7 weeks in waiting for enquiries to be answers on both sides

The buyer of flat just had homebuyers survey so concerned about that in a way. It's a totally PB flat so we should be okay but worried it will be used to bargain.

If they do try to use it as a bargaining tool, the important thing to ask is what was the valuation? If the surveyor values it at the agreed price and flags some items, that means they aren't serious enough to affect the value of the place.

Watch out for your vendor actually finding somewhere to buy and not being chain free. That happened to us. Added a few weeks to the process, but nothing untoward.

Hi Wow,

Well realistically zoopla and other sites value it slightly higher and they have had a mortgage offer officially so this late survey is probably a product of our buyer having some advice and people saying 'what no survey' and having one anyway.

He must be serious at this stage to pay for it too, so we are just thinking positive.

It's just in this day and age when people know you've spent money and found a home, the cheekiness comes out.

He came for a second viewing with his best mates and walked off laughing and getting pats on his back

It was so cute. He wants it we just have to not freak out haha

Hello

I viewed a refurbished property yesterday (along with loads of other people, grr) and need to submit my best offer in writing by close of play tomorrow. The problem is that I'm not sure what to offer

I like the property a lot and it is in move in condition with a new extension to create a kitchen/diner. The upstairs is quite small however and there is nothing more that could be done to the property to create any more space or value. The asking price is £375k. The last property to sell on the street sold for £250k but didn't have the extension. Similar properties in the local area tend to sell around the £350k mark.

Its hard to know but I feel that the true value of the property is probably in the region of £325k to £350k. However, its a seller's market and there is a real shortage of properties available so its not impossible that they will get an asking price offer or even more......

I could afford to pay asking price but don't want to overpay. Do I offer asking price (or more) and then wait for the surveyor to value the property and seek a reduction if it is undervalued? Or stick to an offer of £350k (or maybe £355k) but risk losing out?

Any help would be gratefully received......

The last time a house sold in the same street, you also have to take into account when that was, you probably know that anyway.

If you don't offer the asking price, and someone else does, they will get first refusal, depending also on who is ready to move etc.

If you do, then want to reduce, the seller is going to feel let down and may decide to keep looking for a buyer.

So, it all depends!

Not very helpful I guess!

We offered the asking price, though no offer as yet on ours, and now I see it Is "under offer" I got a fright trying to show it to my aunt and it was gone! But I had the under off filter on.

So, is that under off, actually us, or maybe the sellers have found a better buyer? It's Sunday so they may not have told us yet.

The price is similar so they know we have the equity, I guess.

Zoopla valuations are notoriously unreliable Stiick. As are many EA valuations! What matters is what the mortgage company's surveyor values the place at.

Meerkat - is there anyone else interested do you know? If there isn't it's a tactic to get at least asking price.

When were the last sales agreed in the area and were they for more than the sold prices currently available from Land Registry information? If so, offer between £350k and asking price and explain why, including no opportunity to add value, but make it subject to survey. That way if the valuation comes back lower you may be able to negotiate the price down. Assuming you get it.

Oh, round here zoopla has been lower than th selling price ! Yay

Thanks, Au79. The last time a house sold in the street was December 2015 so the £250k without an extension is a good comparable. I am in a good position - unless a cash buyer comes along! So difficult to know and I have a tendency to over think things so am driving myself nuts going around in circles.......

Good luck with your offer. Its strange that the EA hasn't come back to you and it is now stated to be under offer. Were there lots of interested parties?

Wow - I've been looking for a few months so the £250k and £350k figures I have quoted are fairly current. I lost out on a similar property in March because my flat hadn't sold but was told that my offer of £345k would otherwise have been acceptable. I know there are others interested because they seemed to have a constant stream of viewings yesterday - although it is quite a small house which I think will rule out a lot of families. It is likely to sell to a single person or young couple.

I guess in the end, the value is what someone is willing to pay! If you love it and can afford it, and intend to stay for some time, it will probably be ok.

Otoh I was worried to see someone commenting they were still in negative equity since 2008. That is pretty bad! Is much of the country in that boat? We are commuter town to London so have recovered some time ago.

I am confused about our under offer too. That estate agent has called us and our EA twice, last week no one was planning on looking, but we've had two, seemingly better interested parties since. One made a halfhearted offer but had just had their chain collapsed, so we certainly aren't under offer.

So it sounds like we have been gazumped I guess? They wouldn't have put it under offer for us, would they? Not without calling.

Time to move on and focus on selling, right?

Hi all! I was on the other threads too but joining in here please. Hoping to exchange on buying and selling this week with a view to move on the 29th. Cannot bloody wait! There are roadworks along my current Road and it's driving me batty.

Feeling a bit scared as we've not had any kind of survey done on the new place because we've got quite a good deposit so the mortgage company know they'll get their money back of we sell. Just a bit scary Mary. It's a great solid house though.

Our buyers have just asked a question about my new boiler, do I have building regs certificate? No I do not. What can I do? Hopefully they'll just accept that we don't have it.

AU79 - I'd like to think the EA would have responded to your offer before advertising the property as under offer but, based on recent experience and the fact that its a seller's market, I wouldn't bank on it.

I'd concentrate on selling if I were you. I put my property on the market and had loads of interest at first so I started looking at properties but realised pretty quickly that sellers wouldn't accept any offer I made unless I could proceed immediately. I stopped looking for a few weeks and then my property sold. When I started looking again, there was nothing available although it does seem to be picking up a little now Easter is out of the way.

If there was more choice, I probably wouldn't make an offer on the property I saw yesterday but prices seem to be rising quicker than I can save. I worry that I will be priced out soon. At the same time, I don't want to overpay so am thinking I will stick with the £350k figure I had in mind and let fate decide!

Au I am reluctantly going to do the same, I have stopped looking at houses now and just waiting until we get an offer. No one takes you seriously otherwise. It's hard, I hope that the agent at least has the courtesy to get back to you tomorrow.

Clock, when was the new boiler fitted? I think they are asking for a copy of the certificate for the electrical work that would have been carried out when the boiler was fitted. Your electrician would usually post it to you once the work has been completed.

Maybe mighty! It was done by npower so I'm not sure who the fitters were to check!

If the mortgage company's valuation turns out to be correct then we are still massively in negative equity. Even if we sell for the agreed price, we will be selling for what we bought it for 9 years ago. And we've spent at least £20k on it.

We've got EA coming to value and discuss marketing tomorrow. Hope we gear from the valuation appeal too.

Clock - you might be able to get a copy through NPower? If the work for the boiler was done after 2005 when Part P came in requiring a certificate then they may insist on a certificate being provided

If you don't have a certificate, and can't get one, then you can probably buy them an indemnity instead. Your solicitor will be able to advise.

Good luck everyone else. It's all sounding quite nerve wracking this weekend on this thread.

Our buyers came round on Friday and had a look. Apparently they had been looking at dining tables (they're moving from a small flat to a reasonably big semi) and realised they had no idea what size to buy. And, I presume, they just wanted another look. Weirdly I realised that our buyers look a bit like DH and I (not that much, but enough that many of the neighbours - the ones we don't really know - might not notice the occupants of this house have changed).