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Original poster

Sellers/Buyers roll call part 3. Who is still on this treadmill?

999 replies

MovingNextYearHopefully · 03/11/2018 18:28

A slight name change for me, as I'm clearly not moving this year. Hmm Well, I am, but not into the house I'm buying.

Went to the development today, had a chat with the girls in the office & updated them. Hopefully we will be exchanging contracts next week should all go to plan. We found a nice house to rent, but its so bloody expensive I'm petrified! As long as we complete within our 6 month rental contract then all will be well, but if we don't then things will get ridiculously expensive! Confused

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TiddleTaddleTat · 07/12/2018 15:50

Good luck @Iwanttoflyaway I hope things are in progress now for you

Great news @3in4years - suddenly everything falls into place!

After speaking to the buying agent it transpires that the reason the vendor hasn't yet accepted an offer is more to do with emotional attachment to the property than the issue with a minor delay to exchange for us. I wonder if accepting the offer makes it all too real for her... something has happened there, I wonder if it's a death of a loved one (though it isn't a probate sale). Agent told me she was trying to convince the vendor that we were the best option, clearly though it's out of our hands.

Iwanttoflyaway · 07/12/2018 18:44

Thank you everyone for your messages ..... We finally exchanged and completed today at 4... So relieved. Still have the movers in unpacking.. can't wait for it to be all done. Hope everyone else had better luck than us

WinterBerry7 · 07/12/2018 18:56

My solicitor tried to exchange this afternoon but the other sides solicitor had gone home! Oh well. Monday it is.

Original poster
MovingNextYearHopefully · 07/12/2018 21:38

Congratulations Iwanttofly. Glad it worked out for you.

Hope all goes to plan on Monday 3in4years & Winter. If the 14th doesn't work for you then don't accept it as an option Winter. Email first, then ring your solicitor first thing on Monday to give them dates acceptable to you.

That kind of seller is a worry Tiddle. If they're this indecisive could they change their minds again part way through? Sorry if you already said that you did this, but I'm wondering if you were to meet the vendors face to face & express how much you love the house etc etc it may sway them. Harder to turn down or back out when they've met you too. If meeting isn't possible a letter could work. I bet the other buyers don't do this.

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TiddleTaddleTat · 07/12/2018 22:44

@MovingNextYearHopefully meeting face to face and making an emotional case is a good idea for this buyer. I can't contact them directly as the property is vacant but I've tried to get this across by telling the buying agent that we are a young family, very keen on the house, etc. You're right that if they are indecisive at this stage it causes real uncertainty for the rest of the buying processZ

Original poster
MovingNextYearHopefully · 09/12/2018 13:44

Fingers crossed you know one way or another tomorrow Tiddle. Flowers

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TiddleTaddleTat · 09/12/2018 16:20

Thanks @MovingNextYearHopefully if this one doesn't work out we'll be looking again in the new year. Dreading having to return to look at houses again but at least we really know what we want now!

sandybayley · 09/12/2018 18:22

Best of luck for tomorrow @TiddleTaddleTat

Spent the afternoon doing a bit of painting in the utility room and the smallest bedroom. Much improved! Makes me wonder why we didn't do it before. Just waiting to hear back from viewing on Saturday but I'm sure it will be another no.Sad

DH and I are resigned to a price reduction in the New Year. Only question is whether it's with a new EA or not. Cross with EA for over valuing in the first place and wasting everyone's time.

puffthemagic · 09/12/2018 19:16

FTB Hoping to exchange next week or at least before christmas. everyone is so slow basic questions not being answered by the seller Searches all done mortgage done just need the two solicitors to agree all is ok. So frustrating. I seem to have a better service history for my car than the vendor does for their most expensive asset.

WinterBerry7 · 10/12/2018 12:06

I’ve exchanged! Completing Friday, collecting the keys Saturday Smile

TiddleTaddleTat · 10/12/2018 12:33

Congratulations @WinterBerry7 !! Such a relief.

We got a call this morning saying the vendor had decided we were too high risk and despite our offer being about £4K higher, they are going with a FTB instead. Disappointed !

WinterBerry7 · 10/12/2018 13:50

Oh no Tiddle I’m sorry. What do you think you’ll do now?

TiddleTaddleTat · 10/12/2018 14:05

@WinterBerry7 no choice but to wait until more properties come on in the new year, I think that in this local hyped up market we can only really buy if we're chain free so will wait until our sale has gone through

Ramsey1989 · 10/12/2018 14:32

@WinterBerry7 congrates :)

@TiddleTaddleTat Sorry you didn't get the house Tiddle :( im sure more will come up and probably better than this one.

We offered on three other houses before current one we are trying to buy; each time it was sold to someone else and they didnt take our offer, something better came up so dont lose hope!

The couple that came Saturday to show their Mum our house spent another 45 mins; so since 29/11 they have spent an hour and a half in our house, asked lots pf questions (which we answered back on 30/11) and they still havent said yes or no.

Its really very frustrating, as i couldnt care less if they wanted it at this point, i just dont think it takes two weeks to decide!

sandybayley · 10/12/2018 14:37

@TiddleTaddleTat - sorry to hear that. It must be incredibly frustrating. There is nothing coming into the market in SW London except small flats.

@Ramsey1989 - talk about indecision! My DH is on the indecisive side but even he would have made his mind up by now.

BIG NEWS! We have a 2nd viewing tonight - our first! The wife saw it on her own last week and is sending the husband tonight.
Plus they're under offer. Cross everything for an offer!

tootyfruitypickle · 10/12/2018 14:53

Hello all I am joining although I've been a long term lurker! Have been trying to sell since March. Had a buyer, they piddled around and then finally withdrew in September. This meant I lost my purchase which actually in retrospect is fine as there were a few issues and I was just ploughing on out of desperation to just get the job done! I am selling after a divorce and it is not easy to say the least, I would like to drop the price but ex won't hear of it. We are having a few viewings still but it's either people who still need to sell or people who put forward incredibly low offers and who just seem to be trying to cash in on the uncertainty (more than 10% below).

I'm in rented now with DC, which isn't affordable for me so every month is more debt as a result. I have a few maxed out 0% cards which i thought would be fine as we were bound to sell by the time the deal expires - but this is next August and all of a sudden I'm not so confident - and I don't think I'd be accepted again for new credit so I'd be facing massive interest payments. I'm feeling very desperate and as if this situation will never end and today's chaos in parliament is not helping me!!

Prices in the place I want to buy don't seem to be falling as fast, so I will probably wait until I (if ever) exchange and then try and buy from a good position to get more of a discount hopefully. I don't think I can take the stress of selling and buying at the same time at this point anyway!

Thanks to everyone posting on this thread, it does help to know I'm not alone!

sandybayley · 10/12/2018 15:18

@tootyfruitypickle - it's not a good time for anyone I'm afraid. We offered 12% under on a property we liked because it was overpriced and the vendors were clinging onto a price that reflected where the market was, not where it is now. This seems to be a particular problem with older vendors seeking to downsize. I can understand it's about releasing equity for retirement of course.

If / when we get an offer on our property (which I accept will be lower than we'd originally have liked) we will reoffer but it will still be about 10% under asking. That's because we've done a proper (spreadsheet) assessment of the local market and similar properties.

tootyfruitypickle · 10/12/2018 15:37

Unfortunately for us we will just have to wait until prices rise again though, as at the moment the split would not allow either of us to buy an alternative property. It is marginally overpriced I think, but certainly not by 10% and, we just can't sell in that situation. We're looking at 5 or 6% hit as the maximum, otherwise I think we'll just have to rent it out until at which point the brexit madness is over! I'm definitely getting the impression though at least in my area that a lot of buyers are not necessarily looking for a family home - they're looking to make a quick buck and bag a bargain. Our buyers before kept dropping and dropping the price until it became unsustainable and then they pulled out when we rejected their 4th drop! . It's not how you act if you're buying a long term family home, so I am just hoping we get some real and serious buyers come back to the market in the spring. Yes we will take a lower offer, of course, but there;s no way prices have dropped by 10% in a year - thats definitely not happened at least where I live.

TiddleTaddleTat · 10/12/2018 16:17

@tootyfruitypickle we are in a similar situation and it's really difficult coping with the uncertainty on top of the financial strain of remaining in rented. After trying to sell and buy simultaneously we are now resolved to exchanging on the sale before making offers on a new property because being in such a strong position counts for a lot in such an uncertain market.

3in4years · 10/12/2018 17:43

We've exchanged today and move Friday! Such a lot to do!

Original poster
MovingNextYearHopefully · 10/12/2018 22:44

Woo congratulations Winter & 3in4years. Hope the move goes well on Friday! Flowers

So sorry to hear you didn't get the house Tiddle. The market is so fragile at the moment that the first time & chain free buyers & sellers are the ones most likely to get offers accepted. It wasn't until we advertised our house as chain free that we got a buyer. You'll have much more luck making offers when you're a chain free buyer. Flowers

So frustrating when people make all the right noises but don't make a decision Ramsey. I hope you get news one way or another soon.

Everything crossed for the viewing tonight Sandy.

Hi Tootyfruity. Sounds like you are in a no win situation. You have my sympathy. Sounds like he needs someone to talk sense into him & make him see prices have dropped & are only likely to reduce further, not increase. Its not helping either of you holding out for a price you're not going to get while wasting thousands on rent. 10% below seems a lot to drop, but unfortunately it's not an unrealistic reduction, especially if your house has been on the market for some time or was overpriced to start with.

Our eventual price we got is just under 10% below our original asking price, plus it's costing us 2k a month in rent until we complete. Confused Please stay with us. Sounds like you need all the support you can get. Flowers

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SparklingSaskia · 11/12/2018 10:50

We have a buyer! It’s our third attempt, so I’m nowhere near celebrating, but at least we have jumped the first hurdle. The offer is just 5% under the price we asked the very first time around in summer, so we’re happy.

Ramsey1989 · 11/12/2018 11:08

@3in4years Congrats on exchange, hope the move goes well :)

@SparklingSaskia Well done on getting a buyer, hopfully 3rd tine lucky as they say.

Well nearly two weeks after the coupke first viewed; they have finally replied to EA, asking for feedback after 2nd viewing on Saturday:

They are comparing our house with others to see which best suits their needs, and have a few more viewings so will come back if they have any further questions. Quite annoyed at this because i want to know either way! I dont want a 'maybe we will, maybe we won't'.

Still want to give up and try again in Feb/Mar but we are still stuck with the slim chance of getting a new buyer to continue with purchase of house we had survey etc. Done on.

sandybayley · 11/12/2018 11:10

@SparklingSaskia - congrats! That's brilliant news.

Our second viewing last night has come back with questions about maintenance we've done over the years. They have put in an offer on a nearby house which has been 'done up' but they aren't impressed by the finish. Vendor has turned them down and is holding out for more. We, on the other hand, would probably accept what they have offered on the other house.

First 'bite' in 6 weeks. Fingers crossed everyone.

Original poster
MovingNextYearHopefully · 11/12/2018 13:30

Congratulations Saskia. Hopefully this time it all goes to plan for you. 🤞

Sounds familiar Ramsey. At this stage I'd just assume the worst & anything more is a bonus. All the while they haven't completely ruled it out there is still a chance though. 🤞

That sounds very hopeful Sandy. I am keeping everything crossed for you that they come back with an offer. 🤞

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