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Original poster

Buyers Sellers Roll Call 15

999 replies

MotherofHeathens · 27/04/2021 09:59

Because we're nearly at the end of the other thread and still inflicting this torture on ourselves...!

OP posts:
Cantbebotheredtothinkofaname · 30/04/2021 23:29

@savemefromsearches we just need a damp specialist to come out and tell us if there actually is damp (the survey just said evidence of damp) and then if there is we need to fix it... we’ve only been in the house 6 years and there wasn’t any when we moved in so I’m hoping that there won’t be any or if there is that it won’t be serious?! Apparently damp has been treated in the house before (not by us) so it could be that whatever the survey has picked up is old or needs renewing. Hopefully it won’t hold up the sale for too long! Sounds like we’d know pretty quickly if it would. On the plus side nothing else of concern has come up, I guess with an old house it’s always a bit of an unknown!

Onandoff · 01/05/2021 07:09

Exchanged!!! Hang in there people - this was our third attempt at purchasing and I’ve been on these threads since Sept.

Themostwonderfultimeoftheyear · 01/05/2021 07:11

Congrats onandoff, what a long journey you have had!

Onandoff · 01/05/2021 08:01

Themostwonderfultimeoftheyear thank you, it’s been a long slog, put me off moving ever again and I was a pretty seasoned mover.

SpnBaby1967 · 01/05/2021 09:39

@savemefromsearches

Welcome *@SpnBaby1967* - I totally missed your update in my house buying stress rage 🤣

It certainly sounds like it's doable by 30th June if contracts are being exchanged shortly!

Stupid question incoming Grin

So when our solicitor says the contract pack has been requested from our sellers and that our contract pack is on it's way to our buyers, is this the "exchange of contracts" contracts?? So once all parties have those is it just a case of siging them or is there more legal wrangling still to do?

What are the checks (??) that the councils are involved in which are delayed at the moment. I've read about the delays online and my council is 20 days apparently, but I dont actually understand what it is the councils need to do? Does that make sense?

WeeDonkey · 01/05/2021 10:45

@SpnBaby1967, this link will help you on the conveyancing side.

And this link on the searches.

SpnBaby1967 · 01/05/2021 17:33

@WeeDonkey thank you, that was super helpful !

Newhousehope · 01/05/2021 21:22

We had an offer of asking price today!!!
EA gunna see if they can eek any more out as we would like (but don’t need) a tad more!

Still not a whole lot going on for sale around me
though.

IsItAugustYet · 01/05/2021 22:34

@Newhousehope

We had an offer of asking price today!!! EA gunna see if they can eek any more out as we would like (but don’t need) a tad more!

Still not a whole lot going on for sale around me
though.

How is the EA going to try and eke out a bit more? By making up some fake ‘interest’ from made up buyers?
allycat4 · 01/05/2021 22:53

@IsItAugustYet

well said (or asked!). Not cool.

Cantbebotheredtothinkofaname · 02/05/2021 06:56

I think that’s what the sellers EA did to us because our offer was not accepted but funnily enough they were willing to accept an offer £2k higher 😫

WeeDonkey · 02/05/2021 08:19

I don't think an above-asking offer should be the norm, unless there is a bidding war. You've always got the risk of anybody needing a mortgage having the house down-valued a bit later on, which could have knock-on effects.

Newhousehope · 02/05/2021 08:33

it’s on the market for OIEO - with the ‘expectation’ of a higher price. Not having done this before, wasn’t sure of the procedure surrounding offers at the advertised price, if that makes sense?! I wasn’t brave enough to say - we want this £XXX. however, now being on the buying side, I can see how it’s confusing- I suppose you need to start offering somewhere. And no, they won’t (to my knowledge!) be faking interest to the offerer, but politely stating vendors were looking for £YYY...

However, a house has just gone on, less than 5 mins walk, almost carbon copy of mine, for £10k more. Was ours undervalued? It doesn’t seem a lot, but around here pretty much everything is advertised the same, unless there’s an extension

WeeDonkey · 02/05/2021 09:13

OIEO is different, as you're clearly expecting above the base figure given. Though it's hard for buyers to know what 'excess of' means to the sellers, given that a penny more complies with the request!

IsItAugustYet · 02/05/2021 10:36

So you stated an asking price. Received an offer at asking price, which, presumably is an amount you were happy to receive.

But really you want a little bit more, but your buyers aren’t psychic so now you’re going to stress them out about increasing their offer.

If you wanted more then you should have set the asking price at that amount.

Newhousehope · 02/05/2021 13:44

Offers in excess off.
Means - offers in excess of the amount stated. I got offered the amount stated, so surely they would expect to be told no... logically
Maybe my terminology was incorrect when I stated ‘offer of asking price’ was received 🙄

ForThePurposesOfTheDIR · 02/05/2021 14:39

The house we’re buying was oieo we offered asking and it was accepted, we know that the vendors had had lower offers and believe that they didn’t really want to mess about anymore

Wrongsideofhistorymyarse · 02/05/2021 15:11

Hello all. I'm busy decluttering for a relaunch with new photos. I'm exhausted!

mummabubs · 02/05/2021 17:27

Congrats on getting an asking price offer newhousehope I think the situation you're now in illustrates why our agent told us he hates OIEO and guide prices, especially on properties that are new to the market. We offered on one OIEO and it was pretty much as someone else has already said- technically any offer above, even by £1 might be what the seller would accept for all buyers know so it can feel a bit "game-playey" and confusing. Out of interest how much more are you and DH hoping to be offered above the OIEO asking price? (I want to assume maybe it's a fair bit as otherwise you may as well have listed at that but might be wrong!) I hope you get the offer you're looking for though! Don't get sucked in to comparing with other properties is my advice from experience - we were originally offered more than our next door neighbour with an identical house just sold for and felt pretty good about this. Ours was then downvalued to the same price as they sold for during the sale a few weeks later 🤦🏻‍♀️

Cantbebotheredtothinkofaname · 02/05/2021 18:11

Ours was up for OIEO on the advice of the estate agent, we would have taken asking price but nothing lower. We accepted an offer £3k over. The way I went about houses that were listed as OIEO were that they definitely didn’t want any offers below the asking price, so don’t view if it was over budget! I do agree that they are ambiguous though.

LaMariposa · 02/05/2021 18:13

Start of another week of paperwork, but with the BH even less time for stuff to get done.
We are slowly taking stuff to the tip, into storage, freecycle, but I feel a bit overwhelmed by how much there is to do.
I can’t see us exchanging this week unless we are very lucky - our buyers don’t have their mortgage offer through yet, and we are waiting on a gassafe buildings compliance certificate.

tryingtocatchthewind · 03/05/2021 11:11

We’re hitting a wall with bloody solar panels. We knew there would be issues but didn’t foresee this one. Mortgage company is happy, paperwork all there. The only problem is none of it is in the vendors name it’s in the previous occupiers name and didn’t get transferred when they sold the house. Lord knows how this one will get sorted.

Newhousehope · 03/05/2021 13:45

They’ve come back with an offer £2k over advertised price. I’m nervous to accept - no idea why! I think if I accept, it means I’m moving. And I clearly haven’t realised the reality yet 🤣🙈

TickTockBaby · 03/05/2021 13:55

Hello all.

Good luck to everyone who has made progress, i was stalking the last thread but not sure if I posted or not.

We went on the market last Wednesday, were swamped with viewing requests and had an offer for asking from a cash buyer the next day.

We also viewed and offered on a house last Saturday (before listing our own property) and have had that accepted on Friday.

We have a short chain- our cash buyer- who told us he won't be doing searches or a surgery and instead is taking out indemnity insurance, us- who have a mortgage app commencing tomorrow, searches for new property and survey for new property, and our vendor who has their new property and is doing a bit of work on it but is very keen to be out .

I'm feeling a bit overwhelmed by how quickly things have happened and it all feels a bit too good to be true.

Waiting for the other shoe to drop.

Anybody have experience of cash buyers?

Tia.

lazyakita · 03/05/2021 14:10

We accepted an offer on ours last week (after three days on the market!) Full asking price. We then had an offer accepted on our onward property. Our buyers are chain free, and so are the sellers as it's their second home. We all have solicitors lined up, and our mortgage appointment is in a week. I filled in the fitting and fixtures form, but am struggling with a few questions on the house form. I hope "I don't know" is a suitable answer as there are some I genuinely don't know. I'm returning them tomorrow along with a few other documents. We do have to get a survey done, so fingers crossed for relatively smooth sailing from here on out.