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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

OP posts:
tenapenny2018 · 13/12/2018 22:49

Offer accepted 3rd Dec. Started search today, so back on the treadmill!!

Original poster
MovingNextYearHopefully · 13/12/2018 23:30

Pity Toyko. They would request the funds prior to when they are needed if you exchange & complete on the same day. I guess if one of you has a lender that takes a while to draw down funds & things are still outstanding then the solicitors may not be prepared to take the risk. Better they do that than risk wasting removal costs if things don't work out on the day. Almost there anyway. New year new home. Exciting times! Flowers

Hope you find something soon tenapenny. Do you have much to look at?

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Christmasgone2018 · 14/12/2018 06:33

I'm still here with a name change. Accepted an offer beginning of November, all progressing well. However I just can't find anything in the area I'm wanting to move to. Looks like I'll be renting for the first time in 30 years and it's all so daunting. I just don't want to lose the buyers (they're lovely, the offer was fair and they're selling to a first time buyer)
I'm at that stage of thinking about the daunting prospect of packing and have a removal company I know and trust coming to quote on Monday, they will do the storage of my stuff too. Packing is causing me nightmares though as would hate to have everything in boxes and the buyers pull out

Ramsey1989 · 14/12/2018 06:46

@Christmasgone2018 We didnt box anything up; as i refused to until exchange for that reason, and good thing i didnt because our buyer did pull out a bit before exchange.

We only have a 2 bed place though, so it wouldnt take long to pack it all up. I think if you can i would rent and let your sale proceed to the end, you will then be in a good position as a cash buyer in the new year.

Good luck :)

Original poster
MovingNextYearHopefully · 14/12/2018 12:54

I agree with Ramsey, Christmas. We did minimal packing until exchange happened, but we had a lot if time between exchange and complete. We were also looking at renting for the first time in many years. You'll be shocked at how much more expensive the whole process has got & how much wasted money there is to letting agents in the form of overinflated fees! Be careful to check the agents terms carefully before speaking to them.

Also get a 4 week period between exchange and complete to give yourself a lot of time to find somewhere & get moved in before completion. That's what we did. Although because we only need 3 months we ended up going for a short term holiday let because it works out cheaper & easier. You mention putting your stuff in storage. Are you looking for a furnished place? You'll probably find it easier, cheaper & nicer to do unfurnished & have your own stuff around you tbh. Good luck finding somewhere. 🤞Xmas Smile

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TiddleTaddleTat · 14/12/2018 13:40

@Christmasgone2018 similar sale timescale here, but we are in rented already. Have just decided to sign a new 6 month contract in Jan because we are going to exchange on our sale before making any offers on a purchase. It's just such a fragile time. I want to get our sale pushed through ASAP. As it stands the offer was accepted mid-Nov, draft contracts and property forms sent, about half of the enquiries answered and valuation done. Hoping we can exchange in Jan but my solicitor hasn't advised when it's likely to be yet.

sandybayley · 14/12/2018 18:32

So another update!

Our potential buyers have edged their offer up for a second time (by another £20k). So 4.5% under asking now. DH and I need to discuss over the weekend as we have two more viewings booked tomorrow. Feeling a bit more cheery about the whole situation. DH is quite clinical about this whole process, which is a good contrast to my emotional approach.

Original poster
MovingNextYearHopefully · 15/12/2018 11:02

Sounds very positive sandy. Does this allow you to do what you need to do going forwards? Can you look to negotiating onwards to minimise the deficit on your asking price? Would be such a nice Christmas present to get something agreed. 🤞🎄

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TiddleTaddleTat · 15/12/2018 11:20

Hm so after the selling agent telling me last week that the buyer had done a 'desktop valuation' already I've now been told he's doing a normal valuation next week.
This same agent told me about 3 weeks ago that we were aiming to exchange on 12th Dec then reneged on that a week later and said it would definitely be after Christmas.
If this buyer falls through I will be changing agents because I just can't trust them.

tootyfruitypickle · 15/12/2018 13:02

Good luck tiddletaddletat, it feels like trying to hold water sometimes with agents. My previous agent (with the dodgy buyers) told me that my buyers had sold to a FTB - which wasn't true - there was quite a long chain below them. Having a trustworthy agent does take some of the stress out - but hopefully you won't need to worry about that, fingers crossed your sale goes through early next year.

Ramsey1989 · 15/12/2018 21:33

Who thinks January will be better for selling? More buyers maybe?

Or does the market generally pick up later in spring?

TiddleTaddleTat · 16/12/2018 09:45

@Ramsey1989 agents locally in our buying area have said that February is usually when the market picks up. Whatever happens with Brexit will have an influence though - if we look like we are heading for a no deal I expect some sellers will list in January try and push through before the end of March. I'm more concerned that people will just wait and not sell at all until they know the impact of Brexit.

Lilmisskittykat · 16/12/2018 14:16

January might be a little better for buyers but I think people hold back listing their houses til it's gets a bit brighter and gardens look a bit less bleak if they can and so buyers tend to wait to see what comes on in March time.

That's what I'm expecting as a buyer, most houses that are on now have Been in the market a while in my experience.

Ramsey1989 · 16/12/2018 17:51

@TiddleTaddleTat Well for the sake of selling my house, i hope people will see past brexit because no mattet what happens people will always need to keep moving to bigger or smaller houses for many reasons.

Lilmisskittykat Perhaps some new buyers might look to move in the new year rather than Spring, but we will see what happens i guess!

Fleabag123 · 17/12/2018 10:37

I hope Jan is better as I’ll likely be looking again if my seller continues to be AWOL.

Decided I’m swearing off checking Rightmove until next year. I’m registered with all the agents anyway and I’m confident they’ll contact me if there’s anything good. Going to (try to) enjoy Christmas and not stress about things beyond my control

Lilmisskittykat · 17/12/2018 11:13

@Ramsey1989 I hope you are right sooner I buy the better, just going off my personal decision... decided I wanted sell in November did let list til March as I took time to freshen it up and get the garden looking nice

Ramsey1989 · 17/12/2018 19:39

@Fleabag123 Well i think i've finally given up for this year and accept that nothing will likely happen till the new year now.

Hoping more buyers do appear in January; my house hasn't sold to anyone else yet luckily (ppl tho viewed it said garden was too small but i think its perfect size!), so im still going with nobody wants a 40 year old house that needs electrics and stuff updating!

Ramsey1989 · 17/12/2018 19:41

@Lilmisskittykat Well Brexit rubbish is going to still be around in January since that vote for theresa mays deal in house of commons was postponed till 18th Jan, lets hope its a good outcome and people can just carry on with their lives.

Fleabag123 · 17/12/2018 19:49

@Ramsay, hang in there. Someone will want it. I don’t mind properties that need updating and I’m sure I’m not the only one.

Given that Corbyn has now proposed a vote of no confidence in May who knows what that might do to the progress of Brexit and the market. so bored of all this shit, as I’m sure you are too!!

Ramsey1989 · 17/12/2018 20:13

@Fleabag123 Well when i say 'my house'i mean the one i was intending to buy and have had survey/ mortgage agreement for, so we dont want anyone to like it :)

The house i'm selling is a new build coach house, so nothing needs updating on this!

Hopefully Corbyn fails to derail the plan! Dont need this to go on any longer than needed.

Fleabag123 · 17/12/2018 20:31

@Ramsey - oh I see, I’m sorry! I lose track of who is buying and selling 🙈
Keeping my fingers crossed that no one wants “your” future house

Original poster
MovingNextYearHopefully · 17/12/2018 21:38

No luck yet then anyone? 🤞

We went to see our house as usual on Saturday & to drop off some chocolates & a card at the developers office. Had some positive news. Our house may be ready in January now & not end of February as we were last told. Let's hope so. It will save us 2k in rent & storage if we do. 🤞

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Lilmisskittykat · 17/12/2018 22:16

@Ramsey1989 only way to think of whole Brexit thing is people still need places to live. Brexit is making me a tiny bit nervous but I listed my house the Friday the outcome was announced, it took a year to sell and it did (admittedly a fair bit less then I paid for it just before 2008 crash despite all the work I'd done to it)

Notice a pattern here of my awful timing with houses? But which ever way deal no deal or whatever... I'm still looking to buy so you will all sell cause there will always be buyers - it's just about confidence and fair asking prices

Ramsey1989 · 17/12/2018 22:56

@Lilmisskittykat I was hoping that people would go with the whole 'people still need houses, big and small'

Difficult with the realistic prices; as i have no experience, was FTB when got this place so its first time selling.

We didnt intend to need to move after only 3 years; however when we looked for a house back in 2015 we wanted a 3 bed, however our wages were not high enough and we wanted a nice area so this is why we went with the new build coach house (2nd owner, still has 3 years of LABC guarantee).

A lot has changed in those short years; i didnt want it to mash with the brexit March 19 date, however unfortunately its happened that way so just have to deal with it.

TiddleTaddleTat · 18/12/2018 07:49

I agree that people will still sell houses regardless of Brexit... and we are relying on that because we have evicted our tenants and are selling our place. I do think that all the uncertainty slows things down a lot, and those who don't really need to sell might hold on until the outcome is clearer. I don't think I could have timed it worse - the main reason we sold our place when we did was because it was financially inefficient to rent that out and rent here, since we had decided we wanted to put down roots here now.