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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 · 11/12/2018 15:31

Good luck @sandybayley !

TokyoSushi · 11/12/2018 15:59

Huge day here, we now know the cost to rectify the whole ridiculous garage situation, £3.5K!!!!

It seems though that if we pay it (not much choice really) we could exchange before Christmas and complete in VERY early January. We're closer than we've ever been!

Ramsey1989 · 11/12/2018 17:19

@sandybayley Good luck with the second viewing.

@MovingNextYearHopefully Yes i supose it isnt a 'no' yet but its so difficult to see the positive side of it; i can deal with yes or no, its just the uncertainty of not knowing that makes me stressed and nervous.

@TokyoSushi Good you have a solution Tokyo after all this time, i suppose swalling the 3.5k is at least easier given that you can exchange before xmas and know you will be moving in the new year :)

louiseaaa · 11/12/2018 17:24

I've just read this in it's entirety. It's been cathartic to say the least.

We should be exchanging this week, but now may not be. Sale agreed on the 26th July, purchase agreed on the 18th August.

happychange · 11/12/2018 17:32

So our estate agent has dropped our price by £75k to £650k Sad I was a bit confused by it all on the phone as he said between 650-700 and he's put 650 on Rightmove Angry

The plus side is we have viewings tonight and Saturday, so at least it's moving but we can't afford to move at 650. We need at least 690. Shock

What do we do? If we don't get that price I think I will just take it off the market and go with another agent in spring

For anyone planning to use yopa.. think very carefully!!!

happychange · 11/12/2018 17:34

@Ramsey1989 that's really annoying isn't it! Wish they would just put you off your misery already

@sandybayley best of luck for your second viewing Grin very exciting.

Ramsey1989 · 11/12/2018 17:42

@happychange Yea i know right, and my thinking is if they are this indecisive now, how will they be for the rest of the process!

Our Yopa agent isnt doing much; i get them to change photos round every 2 weeks to make advert look fresh, but ive had no viewings from them in a month and ive had 4 or 5 with other agents.

Its all a bit up in the air at the moment; i cant do anything but hope we get a buyer, but cant reduce because our intended purchase was right at top of budget (though had recent payrise so could accept offer about £8-10k under guide price)

TiddleTaddleTat · 11/12/2018 17:51

@happychange not dissimilar to our agent's approach. They said value was 250-275k, but I knew from watching sold prices that we would have to accept a lower offer if we wanted it sold because nothing advertised was budging and kept reducing. We have had multiple offers at 230k. Ultimately we could afford to take that and have had to scale down ambitions for next move as a result. It doesn't help that most agents overvalue properties to try and win the listing.

sandybayley · 11/12/2018 18:53

So we have an offer! 8% under asking (which I thought might happen) but an offer nevertheless. DH and I will discuss strategy tonight and go back to them tomorrow. I think we could accept about 5% under if we can persuade the vendors of the house we like to accept about the same reduction. We're in the game!

Oh, and a new house has come on the market which looks promising. DH not keen though as it's on a private road. Is that a massive no no? We know someone who lives on the road so could make some gentle enquiries..,,

Original poster
MovingNextYearHopefully · 11/12/2018 20:18

Thats a blow Toyko. Such a huge expense. I'm guessing your buyer doesn't fancy going halves on it? Do you have any legal cover with any of your insurance policies? If you do I suggest asking about claiming your out of pocket expenses from your solicitor who acted when you bought the house & acted negligently which is now costing you a lot of money because of their error.

Hi Louise. Sorry to hear your transaction is taking so long. What seems to be the hold up?

Looks like you've been well & truly stitched up by Yopa Happy. I'd speak to your local agent & pull the ad immediately if i were you. There is no point them advertising it at a price you can't accept & 9 times out of 10 people will look to reduce you, so you're likely to get offers of about 600k. Confused These online EA are truly awful. Complete waste of money in a slow market like we have now.

Woo! Great news Sandy. Try to negotiate a little higher for sure, but don't let these people get away. If you do end up accepting lower than you'd like specify there will be no further reductions on the price. Definitely negotiate further up the chain too. As for private roads, personally I see it as a plus point, but it's important to find out the logistics of whether there is a management company collecting contributions towards upkeep of the road etc. Usually it's just owners maintain the part of the road in front of their house. The bit in front of our house was fine so we never needed to do anything. A few bits were bad, but this only served to slow down traffic, which was a good thing. These types of roads are generally quieter than maintained roads. I'd take a look at that house before you decide. 🤞

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TokyoSushi · 11/12/2018 20:35

Yes I'm going to look at that, what a performance! We've managed to scrape together the £3.5K so I'll hopefully pay it tomorrow and then we can be, almost, done!

SparklingSaskia · 11/12/2018 21:01

That’s promising, @sandybayley. I think a little bit of haggling over the price will make everyone feel better about the sale, even if it’s just over 5K.

sandybayley · 11/12/2018 21:21

Thanks for encouragement everyone. Just had long convo with DH and he has a strategy. He's willing to negotiate but won't settle for less than a fair price. We know the potential buyer has offered low on another house and they're not budging so let's see what happens tomorrow.

Did I mention DH plays poker in his spare time 😉?

TokyoSushi · 11/12/2018 22:13

Everybody crossed @sandybayley

tootyfruitypickle · 12/12/2018 10:10

Sometimes I feel in utter despair, and then things move for someone on this thread and it makes me have hope again! good luck with the negotiating sandybayley, a 5% drop would be a great result!

I'm resigned to the fact nothing will happen now for us until after christmas and probably not until the spring. However I have been looking at right move for our (sale) area and a few new ones have come on at a higher price than ours. Ours is mid terrace, "done" and extended but only 3 bed (we lost the box bedroom as it makes the upstairs so cramped with loft extension). The new ones that have come on are around 10% more than ours and are end of terrace but with the 4th box. Which I am hoping makes ours still the right price - allowing for offers of about 5/6% below. The offer we had most recently was 12% below and that's too low. It's costing me rent while it's not selling but although debt the rent is peanuts compared to losing that much on the sale - even another year of renting would be outweighed by another 2% higher offer - so we will just have to hold on for a slightly better offer.

Go Theresa May! We need Brexit done and dusted so we can all sell our houses! I'm finding it difficult to think beyond that at the moment although of course I know there's a lot bigger issues at stake!!

TiddleTaddleTat · 12/12/2018 10:49

@tootyfruitypickle I'm with you re Brexit. I'm a remainer but hoping this uncertainty can get out of the way and we can move forward with our lives

tootyfruitypickle · 12/12/2018 10:51

exactly my thinking tiddletaddletat !! it'd be so nice if it got sorted and everyone on this thread could get on with their moves and future lives!

SparklingSaskia · 12/12/2018 11:58

Yup, same here. In our case we also have the exchange rate to worry bout. Such fun!

sandybayley · 12/12/2018 16:49

Just popping up in to say 'no news' yet. We declined the low offer on ours and suggested a £10k reduction on our asking price. Hoping we'll meet somewhere in the middle but DH is quite a tough negotiator and I think our prospective purchaser is as well. Nail biting stuff.

We've restated our previous low offer on the house we like and made clear we're considering an offer we on ours.

Original poster
MovingNextYearHopefully · 12/12/2018 17:04

Any news yet anyone? Hang in there. It will all be worth it in the end! 🤞

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happychange · 12/12/2018 17:25

Good luck @sandybayley

Whereabouts in SW are you? We are looking at SW12 , just wondering what the market is like

We've got a 2nd viewing booked next Monday but at a much reduced price Sad

sandybayley · 12/12/2018 18:04

@happychange - selling in SW19, moving to SW20. Lots of cheeky offers going in. Prices have definitely dropped. There are buyers around though.

happychange · 12/12/2018 18:08

We've been eyeing this property for awhile .. would 15% be too cheeky?? It's definitely overpriced

Original poster
MovingNextYearHopefully · 12/12/2018 18:14

Worth a try Happy. Don't ask don't get. 🤞

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sandybayley · 12/12/2018 18:45

@happychange - definitely try it. They may say no but will give you an indication what they are thinking of.