Anyone not being picky - and STILL can't find anything?

[PessimisticOptimist]

We've been on the hunt for 18 months. In that time, we've expanded our search area and budget. We've offered on four houses - three times we were outbid by developers and one time they decided not to sell. But nothing has come on for us to view in the last couple of months.

I guess I'm looking for a support group on here to commiserate with me 😂

Everyone we talk to says:

• The market is crazy right now
• It will settle down
• More will become available eventually
• Just be patient

But I worry about getting priced out of the market if we wait too long. How long do we wait for the "right" house?

Thanks for the suggestions guys, I’ve called the agent and they will only accept a mortgage survey not building survey. I have told them we will carry on looking at other properties whilst we wait for the survey because this is ridiculous and unfair. How does the home buyers insurance work? @Momniscient does it protect us if the sale falls through? Im just tired of this entire process.

@BerryTiredMama, I would speak to your Broker and proceed with your mortgage application. Ask the Broker to add the Mortgage Fee to the Mortgage, that way if you don't complete (for any reason) you will not be out of pocket. The Mortgage Lender will then do their Valuation. It is not a full survey, so if you want you can also arrange your Building Survey.
I suspect they are asking for the Mortgage Valuation, because they want the comfort that you will get a mortgage etc. In the meantime, keep viewing, and also view properties with the same EA - two can play at that game. Hold your nerve.

@BerryTiredMama, just to clarify the Mortgage Survey is not even a Survey - it is the Lender considering whether they will lend on the property. Sometimes this is desktop, but in my experience, they do have a look at the property. The EA should not even be calling it a survey.

@areyouhavingagiraffe thats great advice, i never realised you could do it that way. We will book a building survey regardless but its a waiting game on the mortgage company. Yes i did tell them we will carry on our search as we clearly have no assurance with this property. Im on my mortgage brokers case but the issue is our initial broker quit the firm 2 weeks ago so I’ve never even spoken to the one taking over our case. 😟nerve is crumbling

@BerryTiredMama Yes, it's insurance against the sale falling through, through no fault of your own, e.g. seller withdrawal, gazumping, gazundering etc, even redundancy, mortgage value being lower, poor searches etc etc.

Take a look at the pages of Oops or Home Owners Alliance for more detail.

There are a few companies which offer similar cover. Needs to be bought within 7 days of instructing your solicitors for the purchase, so do get it sorted asap if you want to get insurance.

@BerryTiredMama, my Broker advised me to do this. I thought it was a little odd (as I had the cash for the arrangement fee). I am glad I followed her advice because my purchase fell through (there were lack of building regs so I pulled out). At least I wasn't £999 out of pocket.

@FanGirlX

Anyone been outbid by a Chinese investor? One EA told me that's what's been happening in our area. Rush to get money out of China. They're using investors to target safe areas of the U.K. and that's not just London anymore, it's the popular suburbs of major cities too.

Friends up north told me about this too

If the cladded blocks are no longer appealing to them, I think it explains the number of cash buyers in the areas we are looking at.

That Oops thing looks a bit too good to be true but I will def look at it more deeply.

@DaisyNGO

Also Hong Kongers buying up housing in areas with good schools - so the nicer areas of our big cities.

[quote FanGirlX]@DaisyNGO

Also Hong Kongers buying up housing in areas with good schools - so the nicer areas of our big cities.[/quote]
Yes there’s been loads of them moving in around my area
Can’t really compete :(

@DaisyNGO definitely look into it and do your own due dilligence.

To me, they seem just as legit as everyone else - a stupid name, but underwritten by a good company. A similar cost to my wedding insurance which saved us thousands through covid changes. I have them earmarked to use as soon as we find somewhere to buy!

Tribe, question. Whenever I call to ask about a property, I ask about the vendors position. I have noticed lately EA are telling me "they have found an onward property". So I dig a bit deeper, because I don't understand how people are accepting offers on their property from someone who has not SSTC on theirs. So, when I question this, the EA usually says "oh, yes, they really liked them so were happy to accept their offer". Is this total bullshit?? Or was this how things worked pre-Covid? Why would you accept an offer on a property if the buyer had not marketed their property at the very least???

@TractorAndHeadphones

Where are you based?

@areyouhavingagiraffe

Tribe, question. Whenever I call to ask about a property, I ask about the vendors position. I have noticed lately EA are telling me "they have found an onward property". So I dig a bit deeper, because I don't understand how people are accepting offers on their property from someone who has not SSTC on theirs. So, when I question this, the EA usually says "oh, yes, they really liked them so were happy to accept their offer". Is this total bullshit?? Or was this how things worked pre-Covid? Why would you accept an offer on a property if the buyer had not marketed their property at the very least???

Are agents telling the truth? I don't think you can believe a word of what they say.

Just booked in for a viewing on Saturday... it's one of these "beautiful but maybe just slightly impractical" places. I could do with some beauty. It has a greenhouse already. The dream.

I sometimes imagine I'm on "Location, Location, Location" and do a hypothetical kind of "okay, if I was taken to this house by surprise what would I say?" and honestly... my main thing here is about "oh maybe our sofa is too big and where would I put a piano?" and I just know if I was watching I'd be shouting "Buy a different f-ing sofa!"

Not sure about the village. There's no play park for kids, but there is a decent collection of shops/pubs/schools etc and it's about 20 mins from a big city, still good my commute... it ticks a few boxes! But I haven't gone down the "let me move in tomorrow" rabbit hole just yet

@areyouhavingagiraffe

Tribe, question. Whenever I call to ask about a property, I ask about the vendors position. I have noticed lately EA are telling me "they have found an onward property". So I dig a bit deeper, because I don't understand how people are accepting offers on their property from someone who has not SSTC on theirs. So, when I question this, the EA usually says "oh, yes, they really liked them so were happy to accept their offer". Is this total bullshit?? Or was this how things worked pre-Covid? Why would you accept an offer on a property if the buyer had not marketed their property at the very least???

Hmmn... I would think that it's a case of maybe the vendors have figured out they'll rent from family, or maybe they already have a property elsewhere they're currently leasing? I've met a few vendors who (if they're being truthful...) have holiday homes they want to move to for a bit. Or their latest tenants have gone so they'll move in there. Or with family.

I don't know if I would accept an offer from someone who wasn't ready to proceed... but equally there are some viewers we've met (EA hasn't been able to do all the viewings) and some of those people we have really hoped would put an offer in because they seemed like they'd really gel with the neighbours etc. So... honestly maybe some people have been lucky to have offers accepted before they've sold.

[quote Momniscient]@DaisyNGO definitely look into it and do your own due dilligence.

To me, they seem just as legit as everyone else - a stupid name, but underwritten by a good company. A similar cost to my wedding insurance which saved us thousands through covid changes. I have them earmarked to use as soon as we find somewhere to buy![/quote]
Sorry, .i didn't mean them in particular, was lazy in my explanation

I mean that type of insurance

We used to joke about employment insurance only paying if your office was invaded by porpoises who sat at your desk and wouldnt let you work. So I will read the Ts and Cs very carefully.

giraffe I don't take any comments about onwards chains seriously.

Even with empty flats, they could have a back up plan to put tenants in, though an empty flat is obviously the best to believe "chain free".

Again, probably different with houses than flats?

We ended up chatting, just casually, with the EA about the flat with the terrible design - now can't recall if I mentioned it here. EA told DP the owner wasn't terribly fussed about selling and would happily leave it empty for months if it got full asking price.

EA also said to me that he'd told the chap it was unrealistically priced but the chap said "I can wait in case someone REALLY wants it". I suspect he'll put a tenant in if he's that relaxed.

We received an offer for our house this morning and have accepted it. It looks like prices are dropping - we've had nothing else concrete come through after approx 10 viewings and they've offered the asking price (it was offers in excess of so isn't in excess at all!) which is 6.5% lower than it went on at in late September. EA advised us there is nothing else in the pipeline viewings wise and he'd thought they'd try offering below that level. We've decided a buyer in progress is better than nothing at all and heading into winter so decided to proceed.

Appears to be a cash buyer and was going to buy next door house but couldn't get planning permission for an extension (ours is already extended) so they've already got searches for the road completed.

Have tentatively updated my Rightmove alerts for the city we're now renting in and hoping I haven't jumped the gun with that!

Thanks all. @FanGirlX, you are right, I don't believe anything they say. I am chain free as I have completed my Sale and now staying with family temporarily. But if I was selling I would not accept an offer from someone who was not under offer. I think they are lying. It is obvs when I press them on it, they change the subject.
They are complete bullshit artists. One EA told me that being chain-free did not put me in a good position. Funny, as other EA tell me I am in a great position. Idiots. I hate them. I am glad I used an online EA to do my Sale, and did all the viewings myself, had visibility of all offers and liaised with my Buyer direct.

Giraffe "One EA told me that being chain-free did not put me in a good position."

Didn't someone upthread say this too - she felt people have more invested if they are in a chain? It's a matter of opinion. I'm with you, much rather have a chain free buyer for here!

@RidingMyBike

We received an offer for our house this morning and have accepted it. It looks like prices are dropping - we've had nothing else concrete come through after approx 10 viewings and they've offered the asking price (it was offers in excess of so isn't in excess at all!) which is 6.5% lower than it went on at in late September. EA advised us there is nothing else in the pipeline viewings wise and he'd thought they'd try offering below that level. We've decided a buyer in progress is better than nothing at all and heading into winter so decided to proceed.

Appears to be a cash buyer and was going to buy next door house but couldn't get planning permission for an extension (ours is already extended) so they've already got searches for the road completed.

Have tentatively updated my Rightmove alerts for the city we're now renting in and hoping I haven't jumped the gun with that!

That's interesting - can you share the location of your sale?

Good luck with the move 😀

@RidingMyBike, interesting feedback. Maybe the tide is turning a little. Glad you are under offer for the minimum asking price though. And a cash buyer which is fab

They are complete bullshit artists. One EA told me that being chain-free did not put me in a good position. Funny, as other EA tell me I am in a great position. Idiots. I hate them. I am glad I used an online EA to do my Sale, and did all the viewings myself, had visibility of all offers and liaised with my Buyer direct.

The just fib, fib and fib again.

Viewed one last year, agent said vendor had another property to move into so no chain. Didn't sell with that agent, they moved to another agent, phoned up new agent and they didn't know anything about this other property the vendor was moving to. New agent said vendor had had an offer accepted on a new place, so there was a short chain. Who knows if it was the agent or vendor fibbing but someone was.

@FanGirlX it's just outside the west London boundary, near Heathrow. But not under the flight path! It's about 45 mins from Waterloo on the train.