Listing, viewings and offers thread 3!

[Fortheloveofscience]

We filled up our old one, hoping I'm not posting out of turn by starting the next, it's the only thing keeping me from going nuts with the endless cycle of no viewings - viewings - feedback - no offer - no viewings - viewings etc!

Hope this is the thread where we all sell and get our dream houses. I'm working from home and doing 'backseat cleaning' - nagging my poor OH who has the day off to do everything for our second viewing this afternoon from the only couple to have shown serious interest.

Wow Rainsbow that's great!!

We have formally accepted the offer and had our offer accepted, solictors are instructed just awaiting vendor/buyers solicitor details and a response from the mortgage broker about progressing the mortgage application. It's all feeling very real!!

I know right! Two buyers got into a bidding war! So it went from 5 to 8 to 10 to 15 over!! Soldddd!!

Thanks emma & rainsbow hopefully it won't be long until I'm in your position.
That's fantastic news for you rainsbow & I'm so pleased that things have worked for koala
So nice to hear the positives

Wow rainsbow thats great! Fantastic news

Yes drspouse not sure if they thought we were so desperate we'd take it but as we had already told them we need a certain amount to be able to afford to move. I think they live on a different planet.

Hoping the paperwork comes through now to support the formal offer we have accepted.

Forthelove we have had loads of people view our house - which is clearly marketed as Victorian - and say it isn't modern enough. So I feel your frustration! Hope the right person comes along soon.

After 4 months of being on the market I'm still nervous that it will all fall apart!

Thanks IAmaLionTamer

Lots of offers, amazing news, great to hear it. Well done!

Fingers crossed for us. We've found a house we would love to offer on, but don't feel right unless we've sold ours. Gah! Others here seem to have offered without having sold their house, how do you pitch that offer? Need some advice as I can imagine we would like to do so this week without an offer of our own.

Party be careful with that as obviously if you put in an offer based on your expected sale price but don't achieve it, you can't then reduce your offer.

Well Party are you proceedable? As in do you have mortgage approval?

If you're like us and not proceedable until you've sold, then don't talk money. During the conversation with the agent you can just say you're on the market so not proceedable but you'd like to register your interest and would like him to let you know if there's any firm interest in it from any other parties. Then follow up with him every couple of weeks to see how things are going with the house/keep you in his mind.

Because if you're not actually proceedable, then the owners can't take it off the market. They can't sell it to you. So no point mentioning money at all.

Just adding, that's what we're doing, but others may be gutsier!

Party yes be warned we did it that way round and it has been a nightmare. We had the advantage of knowing what we could accept but equally its only because we have ended up buying a cheaper house that its gone ahead as our house has ended up being sold for a lot less than expected.
Also we were super lucky that the seller gave us 6 weeks to sell ours. Thats very rare and its an awful waiting game. You could certainly try or at least let them know you are interested but be aware it puts you in a weak position so may not get the house you are hoping to buy without paying a bit more than someone who is ready to go. I imagine if they do go for it then you'll prob get a week or two to sell yours or alternatively they may keep it on the market ie an agreement that it goes to you but only if nobody else offers more etc before you sell yours.

In short tell them you are very interested but maybe hold off on an offer for now

Party I'd echo what the others said. We expressed our interest - and were prepared to pay FAP (as it was worth it) - but were honest about our position. They accepted but wouldn't remove from the market until we were in a position to proceed. Unfortunately we hadn't found a buyer in time and someone else in a proceedable position came along and offered FAP instead.

Well news from my corner...

I HAVE A BLOODY VIEWING BOOKED!!!!!

Great news Paul!! When is it?

Did the EA ever get back to you with the RM stats?

Thanks for the advice all, hmm. I think we will express our keen interest and leave it at that then. It's hard isn't it when you find a house that ticks all the boxes and you love to boot. Hopefully we hear back from some of these viewings soon!

Yes, because the brutal fact is you may lose the house. But there's nothing you can do about it.

Even the "head" house I mentioned a page back, I can't actually bid on it till the end of July as that's when our house goes up for auction. There's little movement around here though and it just came on, so I'm hoping it will still be available that's all I can do.

party you could always ask the EA what they think. I know they will be working for the seller but doesn't hurt to say you'd like to offer but assume its best to wait until you can proceed? But yes unfortunately its a case of waiting and hoping it doesn't sell. We were heartbroken when we lost out on the house in Feb but something else will come along if you do lose out.

I've said to DH IF we ever move again I'm not viewing anything until our property is sold first lol

We only offered/proceeded/actually moved before selling because we didn't need to sell our old house.
We had assumed our old house would sell like hotcakes but how wrong we were!
Never mind, another viewing this week, we'll keep on plugging away. I keep telling myself, it's cheaper to keep it than to sell for too little.

Thanks again for the advice all, a common theme occurring which is what I was expecting. Not a bad idea to have an honest discussion with the EA about it Koalas. Their house has been on for a month and has one offer of 660 (it's on for 695). The vendors are holding out for a higher offer which we would give as we think it's worth close to FAP. We could possibly scrape to a cash buy if (and only if) we sell at close to our FAP and pool all resources and get a little help from in laws. It's slightly smaller than what we originally wanted but the lure of being mortgage free is so tempting - and it is a great house in a great location.

Anyways, I'm mentally prepared for this house to go to someone else, it's all pie in the sky unless we can show up with the moolah and/or an AIP (which we have but not the full 20% deposit + fees required here to proceed with the mortgage). Our London house is empty and every week is worth less thanks to the madness of Brexit and Theresa May. It's a bit heartbreaking and very stressful. I just hope it doesn't fall to below what we paid and the huge refurbishment value we pumped into it. Hindsight is a wonderful thing! The price drop has generated loads of interest though. Fingers crossed.

Good luck to all with viewings this week! Hopefully the good news will continue to roll in.

Party can you rent out your London house, take out a BTL mortgage on it and use that as deposit/payment?

That is basically what we did (except our BTL flat was already let but had no mortgage).

Buyers have sent over their proof of funds. We are officially under offer!!!!

Well done Koalas! Go get yourself a glass of champers. Huge congrats!

Dr yep, we have thought of that but are really risk adverse, we're not keen to have two mortgages on the go at once and would really like a clean slate before we buy again. I have seen some family members with multiple mortgages really struggle to cope with the demands of two mortgages and being landlords. We've never wanted to be landlords so it's not really a path we want to go down, especially from another country. The additional costs too would be a pain - taxes, house upkeep etc. Happy to wait to sell, if we don't sell at near FAP then we will have to get a mortgage - but at least we would only have one mortgage .

Today's a good day for us too koala as both sale memorandums have been sent to the solicitors and taken off zoopla etc. We've all agreed to aim to exchange end of July and complete by mid August!

Great news rainsbow

Congrats Koala

Science she's coming on Thursday. I keep telling myself that it just takes one person.

Yay congrats koalas and rainbows.
I've been keeping an eye to see how you're all doing. Come and join us on the in chain thread (it's too quiet and I need company )