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Original poster

Missing out on a house you really want

30 replies

alazuli · 08/08/2016 17:41

Just that really. Starting to feel very despondent as the market in London has slowed to a snail's pace. Even though I've seen a few reductions, nothing decent has come on the market. :(

Am I just destined to stay in rented forever? sob

OP posts:
TurquoiseDress · 08/08/2016 18:38

I feel your pain!

We are SE London, lots of stuff has been reduced but still feels overpriced, lots of work to be done in kitchen or bathroom etc.

We're trying to keep perspective on things & not rush into buy something...even though we're desperate to get out of the rental trap we find ourselves in!

Original poster
alazuli · 08/08/2016 18:57

TurquoiseDress - the market is so strange atm. In a way it's good, the reductions have started and I do think there'll be more to come. It's just I think it'll take a good 6 months before sellers really accept this and reduce things across the board. It's just the waiting! grr

OP posts:
LavenderLemons · 08/08/2016 19:11

Best kept secret. Have you not heard about the new rail link from Kidlington near Oxford (Called Oxford Parkway) that opened a few months back?

It goes direct to Marylebone in under an hour.

Lots of lovely properties for sale in Kidlington, without the Oxford city markup. (And No, I am not an estate agent),

Have a Google, you'll be pleasantly surprised.

Original poster
alazuli · 08/08/2016 19:18

Thanks for the tip LavenderLemons but I really want to stay in London.

OP posts:
LavenderLemons · 08/08/2016 19:50

Fair enough. Though I moved from Bromley and what a difference! Great house prices, Cotswolds on the doorstep, good schools. What's not to like!

Original poster
alazuli · 08/08/2016 20:08

Sounds like a nice place to raise a family!

Anyone missed out on a place they wanted and went on to find something better? I need stories to reassure me that all is not lost please!

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Ilikedogs · 08/08/2016 20:47

I have although it's not a done deal yet (hopefully exchanging next week)
We found a house in a great location which we thought was perfect for us. It went to best and final offers, which we didn't win (there were a lot of tears!)
Anyway we put letters through the doors of houses on the street we liked and someone called to say they were selling. Still went to best and finals but this time we got it!

I'm now so glad we didn't get the other house and had the chance to find this one. I've got my fingers crossed it all goes through.

RuskBaby · 08/08/2016 20:51

We lost a house (and money) when those we were buying from pulled out New Year's Eve, we were due to move 4th January. Made crazy hunt and found our home in the March. Bigger, nicer outlook and wonderful neighbours. We are now glad we didn't get the first house. Don't give up hope!

parrots · 08/08/2016 20:53

Yes. We had our hearts set on a beautiful, huge Arts and Crafts type house with a big garden, right next to a lovely park. The vendor agreed to a price, we had a survey done and instructed a solicitor to do the searches etc but the vendor kept stalling, saying they couldn't find anywhere to move to. This dragged on for more than six months. It was soul destroying. One morning, I was out on a run and noticed that another house I'd always admired had come on the market. We viewed that day, made an offer and withdrew offer on the original house. There was a bit of a bidding war on this second house, which took a couple of weeks, during which time the original vendor begged us to reconsider, said he'd exchange in a week etc. But the spell was broken. Now, we really do have our dream house and feel that the indecisive vendor did us a massive favour. His house is on a busy road and a friend who lives a few doors away said that the houses there had been burgled several times in recent years due to easy access from the neighbouring park.

Long and boring story, but bottom line: something better always comes along eventually :)

Original poster
alazuli · 08/08/2016 20:55

'something better always comes along eventually' - that's what I'm really, really trying to believe in right now parrots but it's so hard to keep the faith when you're in limbo!

i'm so glad you all found something better. It really is cheering me up!

OP posts:
EnriqueTheRingBearingLizard · 08/08/2016 23:19

There's an old saying

"What's for you won't pass you by"

It doesn't always seem like it at the time, but in my experience, especially with homes, it usually turns out for the best. Just hang on in there.

Original poster
alazuli · 09/08/2016 09:09

"What's for you won't pass you by" Yes, I keep on telling myself that!

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Gobbolinothewitchscat · 09/08/2016 09:44

Yes - we're about to today, I suspect. Just trying to be philosophical about it

Original poster
alazuli · 09/08/2016 09:52

Oh no! What happened Gobbolinothewitchscat?

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KittyKrap · 09/08/2016 09:53

We fell in love with a house, immaculate and the owner was a joiner who'd made a fantastic job of everything he'd added. Couldn't get the cash together in time and it was sold. Went for another viewing and REALLY fell in love with this one now. So much better, big drive, south facing garden. I'm so glad we didn't have the cash first time.

Gobbolinothewitchscat · 09/08/2016 10:20

We saw a house we loved. Our house had just gone in the market that day (last week). We out in an offer over the asking price. Ours is the highest but two others have sold their houses.

We will find out today but vendor is dragging their feet, allegedly, but I'm sure it's just to give the other purchasers time to raise more funds. I wonder if we should just have withdrawn the offer, TBH

minipie · 09/08/2016 14:25

We missed out on my "ideal house" - we'd flyered the road and everything. When it came on the market it had tenants, and the owners decided to sell to the tenants (for below market price), rather than our asking price offer, because they knew them and liked the idea of them living in it long term. Tenants then sold the house for a big mark up 18 months later Hmm

Anyway, several months later we bought our house. At the time I thought it was a compromise compared with "ideal" house but as it turns out it's been much better for us - more space and nearer the park - and the "compromises" haven't mattered at all.

There is a weird hiatus going on in London what with Brexit and summer holidays. I think things will look different by October/November as people realise they can't put life on hold forever and want to move by Christmas. (I would predict that more will come on the market in September but sellers may still be unrealistic on prices)

Gobbolino best of luck

TurquoiseDress · 09/08/2016 15:11

minipie
I tend to agree with you re London, all very slow/dead at the moment.

We lost out on a place several weeks ago- seller had accepted our offer which was under asking price.

Then, we'd barely found a solicitor, let alone instructed them & sellers decided they didn't want to sell anymore Hmm

Just curious to see whether the same place will pop up again over the next few months.

We've not been able to find something comparable- size or price wise Sad

minipie · 09/08/2016 15:53

I expect it will pop up again Turquoise. I'm seeing all sorts of things go on, off, on, off the market. I reckon once people have decided to move they almost always do move as they've got itchy feet by then. (Although they might rent out rather than sell, if they can afford it).

Gobbolinothewitchscat · 09/08/2016 16:39

Thank you, mini

Annoyingly we now have quite a few viewings lined up

We heard today that we didn't get the house. It went to someone who offered less but was chain free. Bit worried about that as we have 3 DCs, aged 3 and under and wouldn't consider going into rented.

We're going to wait now til we have an offer - only offered on this one as the agent said the vendor wasn't in a rush to move. 😬 But will only view where vendors are willing to be part of a chain

minipie · 09/08/2016 16:51

sorry to hear that Gobbolino. I do think you'll be better off once you're under offer.

tictactock · 09/08/2016 16:59

A few years ago we found our dream house. It was an ancient cottage in the woods with a pink rambling rose around the door, a big jungly garden, space to expand, everything.
We offered the asking price, sadly so did about 10 other people and it went to a bidding war which we lost by £100K Shock. I felt we'd lost 'the one'.

2 years later we found a much bigger house, with a garden with views which we've developed to our taste and was cheaper too. We planted the rambling rose and couldn't be happier.

There's always more 'the one'.

Gobbolinothewitchscat · 09/08/2016 17:00

Agree mini - worry we might not find anything to buy as school catchments are a huge issue

However, we could just stay here if needs be.

phoolani · 09/08/2016 17:05

There is always another house - said to me by a wise friend after I was devastated about one we lost. It was a total wreck and above budget but we calculated that about 15 things would have to happen for it to be a risky move. We seriously considered a huge bridging loan to make it happen but decided to let it go in the end. Not long after the housing crisis happened and we would have been completely bankrupted had we gone ahead. Instead, we waited and now have a much nicer house.

ladedah · 09/08/2016 17:10

we're stuck with london property troubles at the minute too... first place we had an offer accepted then the seller decided not to sell, managed not to lose any money as survey/searches hadn't happened yet.

so we started looking again and found somewhere we liked better, thought this one was meant to be after the first one. so again offer accepted, valuation fine but structural survey showed a lot of problems with wiring & heating that would all need fixed before we could modernise which also needs done. put in a lower offer and waiting to hear back but don't know if we want such a project for a first-time buy! if this one doesn't work out we're going to give it a month or two before looking again because not much is happening with listings like everyone has said. trouble with that is we're spending £££ on rent in the meantime 😢 it's so hard being a grown-up!

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