Sellers roll call! How many viewings are you gettingin this stagnant market?

[Pixiedust1973]

I thought it would be nice to update each other with our progress as I seem to of lost the other sellers thread!

My house has been on the market on & off since April last year. We found a house we liked, got a buyer before putting in an offer. Had a low offer but managed to negotiate them up & the house we want down to an acceptable level, just! Turns out after many months that their buyer can't proceed so we decide to cut off from our old agents & start afresh with a 25k reduction for quick sale, making us without question the best house in the area for the price! Comparables being 40-50k higher! Im in an expensive part of Surrey btw, hence silly money for very little!

Been on 55 days now & had 11 viewings, 2 cheeky try their luck offers we can't accept because they're 30k below our asking price already reduced by 25k. Id say that given how stagnant the market is we're getting a reasonable amount of interest. Getting lots more hits online since the new year & hopefully its only a matter of time. The viewers we are getting are proceedable viewers, mainly chain free. Probably explains the low offers! Had a second viewing on Friday & awaiting their feedback today. Thought they were keen but the later in the day it gets the more nervous im getting!

oh Tokyo that's shit i'm sorry!

interesting is certainly one word for it.

I'm so sorry Tokyo. Shit Shit! Situation! I know how it feels. Everyone is welcome here. I hope you get a better offer very soon & a better house.

That is a bit of a shit offer Flaming. Does the EA think they can come up to a more reasonable level? They've been put in the picture re your bottom line, so wasting everyones time if they view again & they can't/won't pay it.

We have DH's work mate coming over tonight to view & another viewer who is in rented on Thursday. Summer doesn't seem to of slowed down our viewings so far. Offering to go chain free has helped I think.

i know, the estate agent said it was a man buying it for his son, and his son wants to view it with him sunday, so maybe if his son really likes it they will magically find 8 grand.

Lets hope so. Is that the absolute minimum you can take, or could you meet them in the middle?

nope, that's the absolute minimum.

we need 14,200 in equity to buy the house we like, and all similar houses are a similar price.

if we sold for say 95 we would only have like 11,500 so could only get a mortgage for like 110 grand when we need more like 140 grand really.

its a pain because we will have to pay like 2 grands worth of fees to Santander for early repayment, mortgage doesn't end till jan, so if we haven't sold by then we'll be able to take around 95 I assume.

though, I have seen a house on RM for like 87 grand. its not what we want (ie a 3 bed semi with a garden and a drive) its a mid terrace with a garden its enormous and in a right old state but clearly I have a think for that kind of house ;)

DP isn't interested but if they offer 95 I might make him go see it and buy that instead and do it up and sell again in a couple years maybe. It has everything I want its dp who wants a semi with a garage!

Well it’s definitely still a hot seller’s market in Edinburgh! Poor DD has just been outbid on yet another little flat. 19 offers, and it went for seventy thousand over the asking price! (For a one bed with box room).

I think your best bet is to hold out for your minimum then with these people, unless they, or any other potential buyer are willing to do a long period between exchange & complete which would enable you to complete at the end of January to avoid the fees. Thats a huge early repayment fee.

I know, I don't know why I bloody agreed to it!!

it would be fine for me to wait that long but don't think our house we want to buy would wait that long, they're chain free but its been empty a long time.

the thing is the house is not perfect and im having second thoughts about it to be honest, I would rather buy something cheaper tbh but dp loves it.

I reckon they might come back with £95k flamingo, at least that's what I'd probably do as a buyer if I offered 90k and they said 98k... its positive that they're coming for another look too.

Our agent has offered to come and retake some photos to update our listing, or I can take them if I want, but I need to find the motivation to stage the house a bit better first! School hols is not the best time for keeping a house tidy

Flaming... can't you just port your Santander mortgage to the new house... no erc then

No alexa they won't lend us any more money (massive childcare bill) but Natwest will so we're going with them.

Maybe so jgm we've spoken about it and if they do were not going to point blank say no.

We are officially back on the market and first viewing lined up for tomorrow! We've been off for 6 weeks so I feel like I've had a long enough break to not feel quite so jaded about it. I'm sure after a couple of weeks of viewings i will feel differently.

@Flamingo that sounds promising! Have you gone through an independent broker to get mortgage advice? Our broker provided us with lots of options as we have a shocking exit fee from Santander, even worse than yours!

hope it goes well for you this time twinky

yeah we have, my lovely step dad is a mortgage advisor, unfortunately we have limited options because of our enormous childcare bill, most companies wouldn't touch us with a barge pole, even though we have never missed a payment on anything, can easily afford it, don't waste money on crap etc etc they just wont even consider us with our 700 odd childcare bill (that's what we pay after tax free childcare but invoices are around the 989 mark and I don't know which I would have to use but it doesn't seem to matter much!)

our deal with Santander is fantastic, v low interest so I suppose the exit fee is the price you pay! if we want to stay with them we would have to not move until we at least get the 30 hours free childcare, if not even when ds is at school!

The exit fees are a killer! We were considering holding off until ours expires but to be honest I hear of people taking so long to sell and complete it could easily take us to next Feb when it expires.

It's so unfair that years of mortgage payments and paying all your bills count for nothing. We bought our house when we were both earning but since then I have become a sahp. We still pay all of our bills but techbically we could not remortgahe on this current house. Luckily we are moving to a cheaper area so are actually looking at borrowing a lot less. Its crazy thoigh that we have been paying the mortgage here for the last 18 months with me not earning and yet if we were to try and remortgage tomorrow no one would lend us what we technically need so we would have to stay with our current lender!

yes our is up in Jan so we might not have to pay it, if we've not sold by jan I will mortgage this house with NatWest, then port it to the next one and add on any extra borrowing. Prob wont get as good a rate but that doesn't matter so much. Will go for a long fix anyway what with Brexit and all that.

I know, we both have good credit scores, we both got credit cards to build it, both got given massive limits, have spent and repaid on them etc, never missed a payment for anything in our lives! Mortgage has always been paid, and whats silly is when we bought this house we only had a 5% deposit so payments were huge for the first 2 years, similar to what we would be paying on the house we want, we paid them for 2 years on a much smaller income too! but it doesn't count for anything!

the way the look at it seems so backwards to me!

When we took our mortgage out as FTB in 2001 they gave us a 100% mortgage, and interest rates were around 6.5% - that seems crazy now!

We're on a good lifetime tracker at the mo which is portable but there's not much of a balance left on it (comparatively - we're upsizing) so the remaining borrowing will be on a not so good rate. Will definitely be looking to fix for the new mortgage. If we ever sell!!!

that does seem crazy now! I know you can still get 5% mortgages now but the interest was eye watering. Im my defence I was young and naïve. Much less so now I think (I hope!)

I just want to sellllllllllllllll. Going to go have a drive round a cheaper area (than where we ideally want to live) I think, and see what we think. I'm not against living somewhere a bit rough around the edges (like where we currently are really!) as long as its got a proper bloody garden and parking.

DP not so keen but we can only look!

and im getting disheartened because every other fucking house in the "shit area" is selling but mine. Boo. For more money than mine and not half as bloody big. Beginning to think DP is right and its the garden / parking situation that's off putting (I agree it is shit)

viewing booked in for Friday...

Babdoc £70k is x3 what my DBro paid for his 1 bed plus box in Edinburgh (in the early 90s) . Seem to be loads of speculative investors and AirBnBers competing for these atm. Honestly think your DD may be better looking further out or renting with a view to buying bigger later - DH and I did that till we were early 30s and ready to start a family and no regrets. You can get into centre of Town in 20 minutes from Linlithgow / Polmont / Falkirk etc and also get to Glasgow in 30 (much better City imho ) and there are loads of trains.

is it a new viewing @flamingo ? another house has just gone on down our road. not extended so on for less than us but not that much less! Hopefully it will get people back looking at our house!

yep, new one.

Hi guys. I noticed that we are nearing the 1000 message mark, so I have started a new thread. Sellers roll call part 2 Who is still on this treadmill.

See you there hopefully!

www.mumsnet.com/Talk/property/3330256-Sellers-roll-call-part-2-Who-is-still-on-this-treadmill