Sellers/Buyers Roll Call 7

[MrBobLobLaw]

Stressed vendors and buyers alike: assemble here to moan about bloody solicitors!

Feel free to join at any point

“No information available” probably refers to purchase price - which are only available on purchases since 1996 I think, has your vendor been there longer than that?

We put an offer in by email at 8.30am this morning. No response yet..... I guess that means they at least haven’t rejected it out of hand. Not even an acknowledgement from the agent though which is annoying.

We are waiting to hear back on our revised second offer. I am completely torn. It would be a perfect first-time buy and has so much potential, plus is somewhere we could reasonably expect to stay in for 5+ years. But I also can't help wondering if we're mad trying to buy right now.

Are you happy in your current accommodation rillette? I’m really not, hence I feel more comfortable about buying now. Also planning to stay put for a long time, possibly forever so don’t mind a short downturn in the grand scheme.

Yes that's the thing @lemonylemony. We are renting a tiny 1 bed in a similar location. We could put up with it for another year if we had to. Of course, our savings sat in the bank aren't really doing anything, and it would be lovely to be paying off a mortgage rather than someone else's!

We’ve had an offer on our house but the house we want went under offer last week. Would you put in a cheeky counter offer or leave it?

I’d ask the agent if the vendors are still open to offers or not.

We put our offer in by email first thing this morning, and haven’t has any acknowledgment from the agent. Is it mad to call them to check they got the email?

(My partner says yes it is mad and I need to chill)

@lemonylemony

I've found a big variation in EAs at the moment. Some have been a bit more sluggish in getting their workers off furlough and busy again. Some on the other hand appear to be twiddling their thumbs - I requested details on one property on rightmove and had a call from them 30 seconds later!

I would stay cool and wait regarding the offer you've put in, it might give you a bit more bargaining power later.

I've given up at the moment. 4 in chain, two moving dates pushed back and the third looking increasingly unlikely. Bottom of chain constantly just say that whatever date is chosen they can't do it without offering any other suggestions or communication whatsoever.

Hi,

We are waiting (impatiently) on an exchange and completion date.

I have a question, if that's alright. In theory, once all legal documents are back in, can you agree to exchange straight after that? For example, documents in on Monday, everyone agrees to exchange that same week. Realistic? Or am I missing another drawn out process? We are all very keen to move, so can't see why we can't. It's quite a big chain, so don't think completion on the same day is wise.

Would really appreciate any advice. Thank you.

Offer rejected, not unexpected. But very unimpressed with that agent, will note for future. I caved and rang before close of business and he was “oh, that was rejected, didn’t anyone tell you?” No, you smarmy git, you didn’t even acknowledge the offer.

The vendor had an offer fall through due to lockdown at the current asking price, and want that. I will pay 10% less and move quickly if they want. They have a new build waiting for them to move into - there must be negotiation possible with the developer. But anyway, I sent a final email saying shame, here’s our reasons why that’s our best and final offer, we’ll leave it on the table in case vendor renegotiates with the developer then let us know.

And have done some digging with another one we really like, that needs no work, smaller garden though, still great location. It had 14 viewings on Saturday, no offers yet today around 4pm. We may offer tomorrow, that’ll be tonight’s discussion!

our offer was rejected too. the seller thinks the area won't be affected by the cover effect...

I'm afraid, buying and selling is full with disappointments.

Unaffected by the global crisis that all officials have said is leading to the biggest recession for generations, haha! Funny.

We’ve just put an offer in for property 2 at 7% under asking price, we’d be willing to go up to 5% under. We know the vendors are desperate to move quickly and we can offer that.

Let’s see what the day brings!

Opaque solicitors' quotations. I told you I have a mortgage, I told you I'm using help to buy, stop being misleading and/or lazy and draw up an accurate quotation so I'm not going through your small print disbursements list with a fine tooth comb. ARGH.

@Lemonylemony our buyer did something similar, 8% was a flat no, but he came back at 4% lower and we decided to accept given the uncertainty at the moment, we were able to balance it out with our purchase so hopefully they can consider the same.

Agent replied saying “I will not even consider this offer as we have had offers over asking price” which I think is a complete fabrication given the other agent in the office yesterday at 4pm said there were no offers on the table and I don’t believe anyone is offering over asking quite frankly, especially not multiple buyers! Also he didn’t say that any of these mysterious offers have been accepted. Probably because they aren’t real, why wouldn’t you bite someone’s hand off for an over-asking offer in this market.

Think will go back with 5% in a few hours emphasising our position (tempting to also remind the agent that doesn’t he legally have to forward every offer to the vendors? But I will resist!). We know they are desperate to move - downsizing, and we know they are mortgage free.

So far 2/2 estate agents I’ve had dealings with re offers have been rude smug gits.

We must be mugs as we offered asking price, to us the house we like is worth it and we didn't want to miss out. Now we just have to hope everything goes through. House buying is really emotional, I always feel I have to hold back on imagining somewhere as my home as there's a good chance it won't be.

Our offer was 6% below - we can go to 5% but i really don't want to, it's a joke!

The house is empty, they moved out 18months ago... i think they are trying their luck. It's bl**dy stupid!

Exciting to be at the making offers stage. Good luck all.

We had our first viewing at the weekend after going back on the market last week. It was a no from them, another booked in today. Just desperate to get on with things now.

If that house is worth asking price to you then I wouldn’t say you’re a mug. I have really liked both the properties we’ve been rejected on (yes, did do a lot of daydreaming with each on how we’d live there - I think you have to, to know you want to offer on it!) but all the time remembering there are plenty of fish and don’t feel heartbroken about not getting them.

Got 2 more going to ask to view. One is a serious do-er upper but great location and massive garden, could tick all of our boxes once done. We weren’t really looking for a project but this has a lot going for it I can forgive it!

@lemonylemony no nor were we (when i say we i mean my husband (i wanted one)) so im a bit shocked he wants one now. im so confused, the developer has sent us some other options but i don't think they really resolve the issues...

@HappyDinosaur - you're not mugs. We have done the same! Offered over asking because the house is exactly what we wanted.