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

We have offer accepted!

EA said there is another offer 15k higher from someone not proceedable and we are going to best and final. I told them we are not playing along and will buy another house instead. A few hours later EA got back saying our original offer was accepted.

Now kicking off with solicitor etc... just hoping that vendor didn’t accept two offers at same time to see if the other buy becomes proceedable? You never know..

Ok so we've agreed prices with our buyer and the new property... onto the Solicitors...

Good work Adjeoebfwh!

We have a viewing for the do-er upper on Thursday.

Increased offer on property2 wasn’t exactly rejected just responded they’ve accepted another offer. Never mind.

About a dozen properties came back on the market today that had previously been STC. Most with some reduction in price anything from 2-10%, few the same, one higher! Asking prices round here are all over the shop tbh with no discernible logic, I don’t think anyone knows what’s going on.

@Lemonylemony yes I've noticed a few houses we were looking at a few months ago have gone back on, same prices though.

Anyone had any mortgage valuations recently? I'm so nervous when our buyer has his done on our house. I need to ask the EA where we are really, it's been a couple weeks since his first meeting with the broker.

Wonder about mortgage valuation too! We just contacted the lender to get it done first thing. Said our offer is subject to valuation and if it comes lower we will adjust our offer accordingly. We will see...

Adje did you say your offer was subject to valuation at the time you made it?

DP thinks the agent yesterday was bluffing about other offers trying to get me to raise mine. He wants to keep an eye on when the property gets marked STC on Rightmove and if the listing isn’t changed within a week contact the agent again. I think a lot don’t get updated quickly though, what do you guys think?

I’ve posted another thread about the do-er upper we’re looking at to try and gauge a little what we would be getting ourselves into ahead of the viewing tomorrow. Also requested to view another 2.

I'm praying the valuation is ok, we can't accept anything lower we couldn't afford to move, even if the developer of our new house dropped in price in wouldn't help much as we need cash not a smaller mortgage if that makes sense. I'm going to email the EA I think.

Yes we made the offer subject to valuation. Vendor did not acknowledge that clause specifically but I assume they are aware

@DeeplyMovingExperience glad we are not alone!

I think most, if not all, mortgages are subject to valuations aren't they? So most sellers would realize this was the case?

Mortgages are subject to valuation - houses may not necessarily be! I have known a situation where the valuation came back lower than the offer and the sale fell through as the vendor refused to drop the price expecting the buyer to make up the shortfall in cash.

Well if it falls through that way then be it... if my lender thinks the house is worth X then I won’t be paying more, particularly in the current market when it is probably worth less than X in 6 months! Also the vendor has moved out presumably need to sell and all other buyers requiring a mortgage will face similar issues.

Still waiting for lender to book their valuation - not sure how long their backlog is!

Hi all,

Just put our house on the market late on Friday, had 5 viewings so far. They've all loved it (or so they say to our face), coo'd about its character etc, but no request for any second viewings so guess they are all a no. Got another 2 viewings coming up this week.

We have our eye on a house we really like so hoping that we can get a buyer. Our price bracket doesn't have too much choice where we live so if we can't get the property we like we'll have to stay put.

It's interesting reading what everyone is going through on this journey. I'm already stressed out and constantly checking emails for feedback and it's only been 5 days!

If it feels better we’re not doing second viewings - we’re doing a fair bit of prep before the viewings so we know exactly what we want to check out, and then have made offers just off that single viewing. Lots of checklists and question lists and annotated photos and diagrams :-) even took some specific measurements in one place where there was a particular room we were worried about size - took our own digital distance meter with us!

I know one buyer was thinking about it and one loved it but has a property to sell. Interesting that you aren't doing second viewings. I never thought of that.

The last time we had it on the market (Brexit) we had people feedback things like its too far away! (we aren't on a floating island or anything) So the quality of the viewings seems better this time.

Too far away 😂 you could tell that from a map before you even pick up the phone to the agent, why would you view! Silly people. We’ve checked out journey times/routes etc to work, family etc before the viewings.

Does anyone have any experience of buying a property that is for sale as a result of marriage breakdown? Got a viewing for one on Saturday that potentially ticks all boxes but all sounds very pressured - they’re only allowing 2 hours for all viewings - the agent “let me in on the info” that the couple are separating, but that worries me that if it’s acrimonious then one of them could try to sabotage the sale etc. Maybe I’m being over dramatic. Also because of the time limit on viewing, DP will be at work so it will all be on my shoulders (agent said would probably be able to swing a second viewing for him if we were seriously interested though). Argh.

We had two properties on our list as divorce sales (told by EA) - both gone before we viewed them!

@bulgingtoolbox - amazing that you have had so many viewings booked so quickly. Are you rural or suburban? Our EA seems to have been very slow out of the traps after lockdown was lifted.

@Lemony - the house we are buying wasn't marked STC on RightMove for ages after the sale was agreed. To be STC the buyer has to show proof of funds before the offer is officially accepted.

I think divorce sales can be a very good bet as the owners just want it sold and over with so they can move on with their lives. More likely to take an offer I would think.

@DeeplyMovingExperience we're rural. Actually surprised at the interest we've had. Last time we had 10 viewings in 10 weeks. All pretty much time wasters (it was horrendous) though it was also autumn/winter. Our estate agent seems pretty good.

Just chiming in to say when we sold our last house we sold it to someone who only viewed once. As with Lemony, they came very well prepared and did a very thorough viewing (into the loft etc, looked at boiler, asked lots of questions).

Our buyer offered after only one viewing too, and come to think of it we offered on our current house on one viewing too. Sometimes it isn't a complicated choice, it's just checking the house meets the description...I hope the buyer is that confident anyway! I hate how quiet it goes, I'm convincing myself he's sat at home second guessing his decision!

We seem to finally be making progress - our mortgage valuation is finally happening after lockdown! Once they do it and our solicitors gets the report we are ready to exchange and the vendors want to complete on the 24th - so we could be on our way in 3 weeks! DH wants to start packing but I'm not keen until we've exchanged.

A house we loved and offered but got rejected on... EA told me yesterday it’s now under offer with a cash buyer paying asking price. Even though the house was on sale for 9 months before. Do you think the EA is telling truth of kind of buyer and is there a chance it will won’t go through?

@Sim7 We had an offer rejected because of another asking price buyer, who we were convinced didn't exist, and we were proven right when 2 weeks later he mysteriously pulled out and they vendors would consider us if we increased our offer to 2K below asking. We told them no chance and found our dream home 2 weeks later.