Ahh we're on the market! Anyone else?

[jamtart30]

Well, we've had photos and floor plan done today so fingers crossed we'll be online tomorrow. We had a wide spread of valuations spanning £75k so have taken an average; hope we've not made a mistake. Anyone else in the same boat? We've found a house we love so fingers crossed we'll be in a position soon to offer. This will be our third rung of the ladder. Be great to chat through with others in the same boat.

Buyers have withdrawn their offer after not being able to get a mortgage. I’m so disappointed. I feel like we will never sell!

@Alwaystimeforcakeandtea I'm sorry to hear that, did you take the property off the market for them? That's upsetting

wishiknewthen this is what worries me, I hope our agent doesn’t start telling people we are desperate to sell. For us, renting out yet again is not an option. We tried to sell in 2014 and have been accidental landlords ever since, renting out our only place and renting elsewhere. Now with changes in tax (I am led to believe you can’t put a mortgage against your tax return from April 2020). It would cripple us, we wouldn’t be able to break even renting out.
I’m clinging to ednclouda ‘s situation, hopefully that can offer hope to us all!

@PavoReal oh I didn't hear about this new tax rule!!!! I know April 2020 you can no longer claim lettings relief.
Have a viewing at 10.30 and it's now live for offers of 230k plus, we would accept 230 - we just want to sell!

@ellieboolou27, yes before 2017 you could claim 100%, it’s gone down progressively and from 2020 it will be zero. You would get 20% tax credit instead but if you’re like me and still have a sizeable mortgage that is a massive difference. Here’s hoping that is not something for you to worry about and that today is a good day for you.

@ellie thanks me too. In the process of replacing them. No viewings this weekend sadly but hoping that’s just because the forecast is fab?

Our agent told us that he didn’t think the buyer would get a mortgage for the amount she’d bid having done due diligence on her so didn’t want us to waste time on it. He’s been v good and v honest. Next time!

Ps. I do think in the current market we should all be asking estate agents to do due diligence on buyers eg. Finances and principle agreements. We have a good EA but not all are scrupulous and I definitely don’t want to waste money / emotion!

@PavoReal  praying for a positive outcome even more now!

@Since2016 very much so, the buyer that offered me apparently had mortgage in principal and has sent the agents her solicitor details, if she can bump up the extra 5k we're asking then it looks good, 20k off is a sizeable amount so I hoping she'll increase.

Good luck to all today, I'm feeling hopeful

Hi all - update! we have accepted an offer!
I know how wrong things can go but for the moment I'm going to believe this will hold. Having started this process in October and losing our original buyers days before exchange in February I really think we deserve some good luck!

Ellieboolou I'm so pleased for you and wishing you all the best. It's been a difficult time for you and I'll keep my fingers crossed that all goes smoothly now! Amazing how much they tried it on and then came right up to a decent figure! Keep us updated!

Alwaystimeforcakeandtea - sorry to hear that. Maybe in this climate properties should be kept on the market until real commitment/progress happens?

Pavoreal - I'm in a similar position to you - also accidental landlord. Got good tenants which helps pay my own rent. Scared they will leave and the property could take a long time to sell so lose/lose! Where are you based?

@Wishiknewthen thank you! I will keep you all posted and wishing you all good luck.

Oh and definitely keep your good tenants until you've enough to cover both mortgage and rent for a good while
Like you we relied on their rent to pay our rent (well some of it) but 6 months with no rental income has been a killer! Hence we accept 8% below.

Just put our house on the market today. I'm just worrying that someone would want to do the weekday viewing, both DH & I work full time work day, plus 2 dogs. It would be very stressful to clean, and organise with the EA.
Is this resonable to request the EA only accepts weekend viewers, or at least trying their best?
We want to move but not desperate, and only stay for 18 months so far.
Love our house (we have done the refurbishment for it), just would be small for us in the next year or so (2 bedrooms place).
We found 2 houses that are acceptable to move and still available (not totally in love). The one we loved got sold within a week.
We are viewing houses every weekend until we get offer and decide.

Woohoo congratulations @ellieboolou27 ! That is great news, what a relief. 6 months without rent, that’s tough. You certainly deserve a massive chunk of luck over the next few weeks now.
@wishiknewthen I’m based south coast, the flat is zone 2 London. About a 2 hour drive away, I’m fed up of using annual leave on going up there too. I’ve got great tenants, their contract is up end of July so I’ve told them from August I’m putting them on 50% rent and I will give them 2 months notice. They seem to be happy with that. What about you? I think whatever I do it’s going to be pretty bad financial pain in the short term at least.

Pavoreal I'm zone 3. I've never sold a flat before so unsure how long everything will take, even with a solid buyer as got 3rd party (Freeholder) to factor in and I have heard that Freeholders in general can be slow to respond to enquiries.
Ellieboolou - hopefully this will all be a distant dream (nightmare!)one day

Sorry - I'm zone 2 also not zone 3!

@wishiknewthen me too, I was a first time buyer so I don't have a clue. Do you need to increase your lease? Is that why you need to factor in the freeholder? If so, that is the same as me - I'm 50% freeholder but still need the agreement of the other one and he goes off grid for weeks at a time (lives overseas). Apparently lease renewal takes around 5 weeks and can be done alongside the sale timeline, but the clock doesn't start ticking until the other freeholder agrees. It's something else that keeps me awake. Photos being done today, hopefully online later this week.
@since2016 sounds like you have a good agent, fingers crossed for next time.

PavoReal - no I did lease extension when I bought the flat. It's just the fact there is a third party involved and it seems you have no control over so many things and reliant on the decency of others! Such a complicated process. We could take a lead from Scotland who do things so differently!

wishiknewthen got it. Well done you on sorting out the extension when you bought it, I am kicking myself now. But still, it seems we are both at the freeholders behest in some way. I read an article where a freeholder hadn't been heard from in 20 years, the answer was still "you need to track them down somehow". Ridiculous.

We've decided to stay put despite offers on our house. We're going to have a 250sq ft extension which won't cost too much more than stamp duty, solicitors and agents fees altogether. This way we'll stay mortgage free and keep our big bedrooms. So happy with our decision! I wish everyone well with their moves.

Good for you @waterlemon30 . Exciting!

How's it going everyone?

I've now been in the market since Tuesday or Wednesday!! Wahoo!! Had two viewings so far, and I've arranged that didn't turn up!! Have two more arranged!