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anyone else up for sale - or about to go up for sale - and nervous because of brexit and possible recession?

38 replies

Nickname1980 · 26/06/2016 20:15

I live in London so I (and the local estate agents who came round) naively assumed brexit wouldn't happen.

Now that it has, I've been advised not to put my house on the market as - they said - only desperate people will be selling because people will offer crazy low prices or not doing anything at all. So I'd either get a lot less for my place, or it'd just sit on the market.

I know that means I would (in theory) get a lower price for the house I buy too, but... It all feels very uncertain out there at the moment and I feel a bit worried about buying and selling at the wrong time.

I am kicking myself for taking my house off the market a few months ago to change agents and give it a rejig.

Someone suggested to me that i should rent this place out and rent somewhere else to live in for 18 months. (We're a growing family who has totally outgrown our current place.)

Anyone else about to list for sale?

Or anyone got any advice on what they'd do? Would you list or wait?

OP posts:
Nickname1980 · 29/06/2016 09:40

This is all very encouraging! I think I'll give another estate agent a go and list it. Perhaps, last week, the EAs were feeling the brexit doom.

I really want to move! I was going to ring EAs this week to chat, but haven't got round to it yet.

On another note... If I leave it too long (brexit aside) do things grind to a halt in the summer? I am not selling a family house, though, it's a bit of a first-time-buyer place!

OP posts:
Nickname1980 · 29/06/2016 09:42

I'd be very happy with 8% under if I could get 8% under elsewhere, GoogleMonkey!

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Babyroobs · 29/06/2016 09:50

We are trying to sell a property in the London area ( within the M25). We have had no interest, alhough I strongly suspect it is overpriced. I think we are going to drop the asking price in a few weeks.

GoogleMonkey · 29/06/2016 09:58

Nickname the original offer was insane Grin - 5% higher than all other offers. Like I said, just under asking is much more realistic given the work which needs to be done.

pud1 · 29/06/2016 11:13

i have got 2 properties on the market at the moment. one in lincolnshire which was my mum and dads. i got an offer that i accepted a few days before the referendum. i have just called the estate agent to see how its going and have been told surveys has been carried out and we are just waiting for the report. buyer is a cash buyer and a first time buyer

my other property is my flat in lancashire. that went on the market on the 17th. one viewer up to now. no feedback as yet. just called the estate agent and they have told me that the sales they have are going through but viewers are sparse,
i am hoping that it picks up

jaffajiffy · 29/06/2016 18:26

We accepted an offer 5% below asking price on our flat three days before brexit. On the Friday I asked the ea if there'd been anything from the buyer. No, so we instructed solicitors and started the paperwork. Yesterday the buyer offered 20% below asking and then increased to 14% below asking. I've said "no" and am assuming he will pull out or at least try it on again if we proceed. We don't need to sell so can play a long game, but I might be annoyed we didn't go for 14% below if recession kicks in!
My fil mentioned Foxtons' share price is down 40%.
Uncertain times!

jaffajiffy · 29/06/2016 18:28

Forgot to say London zone 2 and the buyer is a trader Confused

Nickname1980 · 29/06/2016 19:41

Oh crikey super uncertain times!

I'm London zone 2 as well Confused. Though I really want to move, space has totally run out, I don't have to.

After all the indecision, my flat was reposted today! Its gone up on Rightmove already so we shall see...

I will let you know what happens! Part of me still wonders if I'd be mad to sell and buy now... (And part of me is tempted to sell - if I get a buyer - then rent!)!

OP posts:
Nickname1980 · 29/06/2016 19:53

Oh no, my mistake. It's on the agents' website already but Rightmove tomorrow when it caches or something like that. (They already had pictures and floor plans from before.)

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Lilmisskittykat · 29/06/2016 20:47

Funny enough I got an estate agent in on 23rd (22nd) and post Saturday just gone.

Neither mentioned anything to do with the referendum nor when I've gone to list today suggested a further reduction in valuation.

I'm listing and seeing what happens I bought in 2007 so already set to loose what I paid for it despite money I've put into it. I've decided my price (v reasonable and in line with estate agents Recc. and other valuations) and as I'm not desperate to sell will hang in there

So I'm sucking and seeing ... Xx

likeaboss · 29/06/2016 21:06

This reply has been deleted

Message withdrawn at poster's request.

Bambooshoots14 · 29/06/2016 23:02

DH just said (estate agent in high end west London) 16 buyers have pulled out of 50 off sales since Brexit. That's worrying

JE678 · 30/06/2016 05:48

Our buyer pulled out on Tuesday so we relisted and already have 14 viewings booked over the weekend. We have yet to see if we get any offers and what level they'll be. We're also London but a bit further out than you. Both our EA and solicitor have said its business as usual for them just with slightly fewer enquiries.

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