Is anyone buying/selling now?

[Greenbutterlfy566]

Is anyone buying/selling now?

@snowspider Thanks...so that's just under 10%. Our vendor is moving to another part of the country so I am not sure how much they really "need" to move. I think we will go back to them in a couple of weeks, hopefully the situation would become clearer.

Argh my agent has urged me to press pause instead of pulling out. I just don't know what to do for the best!

Why would people who have had their offers accepted now decide to gazunder??

I am in the middle of a chain of 3 I wouldn't accept my buyers offering less (I'd think it was a piss take) and I wouldn't ask my seller to take any less!

We have only just all accepted offers so very early stages I may be naive to think it will all be ok but I can't do anything else!?

My buyers are FTB. The house I am buying is empty.

It’s so difficult to know what to do. I’m buying and could complete the sale ASAP as the house is empty. But I feel irresponsible asking removal people to come into my home, even though (tough wood) none of us have been poorly.

Is it morally the right thing to do?

@LolaSkoda I don't think they can? My sister completed last week (been trying to move for 2.5 years) but has to sit and wait now! Not the end of the world for her but I can imagine it being a pickle for some

We exchanged a few weeks ago and due to complete on Friday. At the moment removal firm still working. We have no other options so hoping it all works out

I think some are working and some aren’t.

Your poor sister, Jelly!

@afrikat fingers crossed it all goes smoothly for you x

@LolaSkoda she is moving to a renovation so she is probably best where she is till this calms down :)

Hoping to exchange/complete this week as we have the last week or so. Ok to move at the mo as the property I'm moving to is already empty and the people buying mine dont have to move in straight away. I'll be glad when it's all over

We are selling to the tenants in situ, things have slowed, not heard anything for the last week. I think they might push for it though as mortgage will be cheaper than rent for them.

We're ftbs buying an empty property and carrying on. We don't know about removals etc as we're at least a few months off completion being a possibility.

We're not going to ask for a reduction either, we were happy with the price a few weeks ago and will be happy with it again once CV is over (moving for the long term). I don't think house prices are going to drop as much as many potential ftbs hope! Also, even if we wanted too, we probably wouldn't get a mortgage again as I'm sure others will follow Halifax and Barclays soon. Also, we were looking for about 9 months and this is the first house we both really wanted.

We are only considering for a reduction because, instead of 2 incomes - we will only have one, which can cover the mortgage but we won't have enough for savings for emergencies. Good luck to everyone that is pushing through during these uncertain times.

We are only considering for a reduction because, instead of 2 incomes - we will only have one, which can cover the mortgage but we won't have enough for savings for emergencies.

Well good luck with that. I don’t think I’d be too keen to reduce the price of my house just because you now couldn’t afford it. How far would you expect your seller to go? So if you lost your remaining income you’d expect them to give you their house?

Thanks.

Like around 6% reduction so we can put less in for deposit. It's whether or not they'd wait for the next buyer or just sell it to us for a small price reduction. And no - we are not expecting someone to just us their house.

6% is ok if you've offered at /close to asking price in the first place, little. Im selling and would do that rather than wait for months for viewings to re start!

anyone pulling out, will find very quickly, hardly any property on the market now,adding rent+costs.
also, once the confinement is over we will get a boost of sale/purchase just like we saw after the election(Boris bounce).

that's my opinion

Well mortgage lenders in the past few days have allready stopped lending to anyone with no less than 40% deposit/equity, they have said it is due to overwhelming business, but reading through the lines it is also because they see house prices coming down by I presume upto 40% as a result of unemployment which is going up and alot will be permenent after this is all over due to the recession /depression that we will all face. Not so bad if you are stepping up the ladder but if you are a ftb and manage to buy with a low deposit, negative equity is looking very likely.