Buyers Sellers Roll Call 14

[PowerslidePanda]

New thread for anyone buying or selling houses at the moment - come join us!

The previous thread ran for about 10 weeks and in ordinary (non-stamp duty holiday) times, that's long enough to get a transaction through, so let's hope this thread sees lots of people finish!

[savemefromsearches]

New thread here:

Buyers Sellers Roll Call 15 www.mumsnet.com/Talk/property/4229817-Buyers-Sellers-Roll-Call-15

[Themostwonderfultimeoftheyear]

Exciting mariposa, seems it is all going well :)
Well we are on Rightmove, clearly stayed on late to put us on bless them.

[LaMariposa]

All progress here until it isn’t... our buyer is a friend of a friend so we are in touch directly. They are lovely, and we’ve been able to answer a few informal queries directly. We had formal enquiries from the solicitor today, wanting a credit our boiler fitted 2013. Couldn’t find it, checked the gassafe website and it’s not registered, argh.
So we’ve given them all the proof of servicing etc and said we are happy to arrange indemnity insurance if needed.
I know they are waiting on one search to come back, and we still don’t have a mortgage valuation survey booked in.
We’ve both agreed a tentative completion date of 1st June though, as they have exchanged on their sale and complete on it that day. Hopefully everything else will fall into line!

[Themostwonderfultimeoftheyear]

I really feel for you mumma, so not what you want when 38 weeks pregnant!

We just approved the draft listing and signed the docs for our agent so I am hoping it will go on Rightmove tomorrow!

[Landladymews2]

@Flemingshat Oh wow. We brought in 2016 as well and I was feeling bad that we haven’t profited much but maybe I should console myself with not making a loss

[Flemingshat]

What I don’t understand about being overpriced is wouldn’t that mean we wouldn’t have viewings?

Not in my experience, no - we had LOADS of viewings but still no offers til we dropped the price. We are now selling it for 30k under what we paid for it in 2016. It stings!!!

[mummabubs]

@MotherofHeathens I think being 38 weeks pregnant has given me more oomph to just say things as they are, I was quietly proud of how assertive I was with him but his attitude boggled me!! 🤣



@Landladymews2 I think DH and I are one example of definitely not! We have bought a house that we knew just from the listing was vastly overpriced (although I should add we could have afforded the full asking price as we'd never view a property that was genuinely out of budget). We got it for a significant amount under asking as the vendor knew they were being a bit optimistic with their asking price but wanted to test the market. I guess people may be booking viewings for your house thinking it's at the top end of what they'd be wanting to pay but would providing it was "perfect" for them and then not being gripped and deciding that if they were to offer you'd possibly deem it too low? We definitely viewed properties that were 'fine' ie nothing overtly wrong at all but we knew the house just wasn't worth to us what the vendor had listed for so we didn't bother making a low offer. I also think style of house makes a difference - our current house is a bog standard new build so tricky to have the "wow" factor, whereas the house we've bought is nothing special in itself but the panoramic views are what sold it to us as a house we had to make an offer on.

[MotherofHeathens]

@mummabubs I can't believe he still tried to persuade you to let him do the install!!
@Gyptian oh no! I can't believe they're still dragging it out - I don't understand why people don't want to move and get it all over and done with.

I've set up a new thread as we're nearly at the end of this one: www.mumsnet.com/Talk/property/4229817-Buyers-Sellers-Roll-Call-15

[Landladymews2]

@mummabubs @Flemingshat Thanks. What I don’t understand about being overpriced is wouldn’t that mean we wouldn’t have viewings? When we see something overpriced we immediately discount it and don’t bother viewing. I think we are on the upper end but not crazily overpriced. We could drop by 10k but no more than that. DH is reluctant because a Street up from us a very similar property sold for 10k over our current price last year and other similar properties are on for around the same

[mummabubs]

Oh @Gyptian I'm so sorry you're still being kept hanging on. Utter nightmare 🤦🏻‍♀️

[Cantbebotheredtothinkofaname]

@Landladymews2 I would also say it’s the price, our house was priced at the top of the bracket for an old terrace, but that is because it has a very large extension, a new kitchen and has been renovated throughout. We had loads of viewings but only one offer and I think that was due to the price. We also couldn’t get feedback from those that seemed keen during the viewing but then disappeared. Like @mummabubs said basically we needed to wait for a buyer to come who liked the way we had decorated it (all except for the kitchen was neutral) so there is a chance the right buyer will come along at the right price but you might have to wait a little while or perhaps asking for the price to be dropped a tiny bit might make people think they are getting a bargain so more likely to offer?

[lazyakita]

Our house was listed for sale towards the end of last week, and yesterday morning we received an offer of full asking price on the condition we take it off the market, so we've accepted. We did have more viewings booked in, but we decided we want to move quickly and the buyer is in a great position. I got quotes from solicitors last week and instructed one within an hour of accepting the offer. We have a strong contender for our onward purchase, we have a second viewing today and hopefully they'll accept our offer.

[mummabubs]

Jeez louise. Virgin Media just showed up to install Internet here for our buyers as they'd told them it was fine so they wanted to drill into the walls inside and out... I politely explained that I was absolutely not happy for them to do this when we haven't exchanged contracts or agreed a new completion date so they'll need to go back to the buyer and rearrange. Virgin Media guy kept trying to convince me to let him do the work and then said "well I'll call the buyer now and say you're not letting me do the work" so I said that's fine... As it's currently legally still my house! 🤣🤦🏻‍♀️

[Wrongsideofhistorymyarse]

Flemingshat I think my property is overpriced and I'm going to (regretfully) suggest our agents drop it. I've only had 4 viewings in 6 weeks and I'm fed up.

[Gyptian]

I haven’t updated for a while. We’re still in purgatory waiting for the top of the chain to commit to a date-the whole chain has been waiting for three months! It’s becoming increasingly clear that the top of the chain is a selfish arsehole who doesn’t give a toss about anyone other than himself. He’s been playing games and I’m sick of it. People should not be allowed to get away with it but they can due to the stupid house buying process in this country. Our only recourse is to pull out but then we lose the house we’ve been waiting 9 months for 😭😭😭

[mummabubs]

@Landladymews2 Sorry you've had no luck so far. Hate to say it but if you've been getting viewings but no offers it very likely is price. We were on the market for 10 weeks last year with a steady number of viewings but no offers. Went back on the market early this year with a £10k price reduction and had multiple asking price offers on the first day of viewings. How much higher is yours priced and when did a property last sell on your road at a lower price?


I wonder if your house is like one that we viewed a few months ago - it was also priced highest on the street due to extension and had a very snazzy new kitchen. We didn't make an offer as although larger and neutrally decorated it still wasn't to our taste and we felt like we couldn't justify the higher asking price when we'd be internally wanting to change things to how we'd like them. They had 17 viewings over the weekend and agent told us everyone needed to submit one final and best offer by noon on the Monday. I then got a sheepish call from the agent on Tuesday to ask for feedback as they'd received no offers despite expecting a bidding war. They ended up dropping their asking price by £30k and it sold quickly after that.

Personally I wouldn't buy comments about liking the house but not being ready to buy... In our neck of the woods you can't even book viewings without being proceedable and ready to make an offer! If you're feeling strong you could start a thread and post a link to your house for people to comment on why it might not be selling (I wasn't brave enough to do this!)

[Flemingshat]

Landladymews2

Hate to say this but it is almost certainly the price. We thought "it wasn't the price" with ours as no one had mentioned it (in a similar location to you) but when we dropped the price we got three offers in a week. I think the London Market is en route to a major price correction.

[Landladymews2]

Hello
I’m a home seller in London suburbs. My property has been on the market for a month, lots of viewings and no offers. It’s in great condition, decluttered, neutral decor, garden, off street parking, quiet road, 10 min walk from station/shops etc. Price is fair when compared with other similar sized properties on the market in the area. The price is higher than anything on the street has ever sold for but this reflects the fact that it’s extended, the condition it’s in and current property prices. Most viewers have not been contactable for feedback. There have have been no negative comments and no one had said anything about the price. The few that were contactable said they liked it but aren’t ready to buy anything yet! Haven’t seen anything moving on the market since we put ours up. Am I being impatient or would you start to feel concerned after a month?

[mummabubs]

@IsItAugustYet oh crumbs! 🤦🏻‍♀️ Maybe ditto what I replied but you start looking at other houses and tell them if they don't instruct a solicitor soon you'll be looking at other properties. That's silly of them to presumably go through the hassle of going to market and paying an estate agent if they hadn't done any research into the average cost of selling and moving!

[IsItAugustYet]

[quote mummabubs]@IsItAugustYet eeks, that would worry me to be honest. We found quotes, compared and instructed within 24 hours, as did our buyers. If the orotof solicitors has shocked them I'd be wondering do they habr a realistic idea of how much removals companies cost, or if you don't complete before July do they have funds to cover stamp duty? They're not painting themselves as very serious or committed buyers. Depending on how quickly you sold/ how many offers you had I'd be getting tempted to tell them they need to instruct a solicitor or you'll be putting the house back on the market and hosting viewings until they do? [/quote]
They’re the sellers!!

We instructed our solicitors within the hour...

[BladeRunner7798]

First time buyer here - I viewed my 4th property on Saturday and put asking price offer in this morning. Frankly the asking price was already more than it is worth and told the agent that was my best offer. There were already 4 other offers and the house only went up for sale last Thursday. There was a bidding war in the end and the agent called me this afternoon to let me know it had gone to someone else. Even the agent said it went for silly money and way above what its worth.

I do wonder how many of these properties are going to downvalue and sales fall through

[Notmulan]

Hello home movers

@onandoff oh to be so rich!
@isitaugustyet that sounds tedious. They might just be really thorough people :/

We’re waiting for the current owners of the property we’re buying to find something. It’s only been 3 weeks or so so far but we’re really hoping that they find something soon. This whole home moving process is broken , it shouldn’t work this way. I’ve heard of people with a chain of 8-10. I don’t know how people ever move!

Who here has the longest chain?

[mummabubs]

*orotof should be "cost of" 🤣🤦🏻‍♀️

[mummabubs]

@IsItAugustYet eeks, that would worry me to be honest. We found quotes, compared and instructed within 24 hours, as did our buyers. If the orotof solicitors has shocked them I'd be wondering do they habr a realistic idea of how much removals companies cost, or if you don't complete before July do they have funds to cover stamp duty? They're not painting themselves as very serious or committed buyers. Depending on how quickly you sold/ how many offers you had I'd be getting tempted to tell them they need to instruct a solicitor or you'll be putting the house back on the market and hosting viewings until they do?

[Onandoff]

Received the contract forms and mortgage deed today, will sign and return tomorrow. Then just waiting for the local searches due end of the week. Really hope we can exchange the week after as the place we’re buying is empty (seller rich and moved out).