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?

Great photos! I think you should go for it

It took us a year of browsing, but 8 weeks of final intense intense viewing and searching. We were outbid on 1 and then received professional advice for the second and were successful. We were fifth below the highest offer with many of those 20K+ above us.

I will pass on some tips we were told to use because in this market you cant let a house pass you that you want.

• Offers over or offers in excess of means 10-20% more as a starting point.
• Offer high for your initial offer even if its just an offer of interest. It means you will be mentioned to the buyers from the word go and are in a better position when you get to final bids.
• Bid in odd numbers over every band all the way down to the pound.
• Get a surveyor, architect, builder, someone on hand to immediately view a property if you find one; this means you can offer 'subject to NO survey' whilst still being taken seriously as have already received advice.
• Write a cover letter for the offer. About you, Why you love the house, every inch of detail of your financing, position etc. etc.
• The lower your LTV the better - so advertise this if thats the case (many homes are being downvalued so many would worry about taking a highest offer on 95% LTV)

Goodluck

We are in a similar position. Relocated and currently renting while we search for somewhere to buy. We have given up finding somewhere that ticks all the boxes. We did find somewhere after leafletting, but the owners just don't seem to want to move. We can't wait forever. So we have compromised on a nearly new build with a small garden. Not what we originally wanted but the house itself is amazing and lots or benefits. We've basically had to accept that we can't get the house we want in our budget right now.

A house around the corner from us in South Manchester completed in March this year for £465k. For whatever reason the new owners have put the house up for sale for an insane £530k!!! £65k in 6 months (no work carried out) It sold within 24 hours .

You all have my sympathy at the moment. We sold pre-Covid and offered on a house which ultimately fell through due to Covid/lockdown. We went into rented and then got sucked into the mania when lockdown lifted and had to offer over asking to secure the house we’re in. If it helps we moved in at the end of Nov’20 and I still look at RM daily just to be nosey/curious

I am intrigued to know where are all these properties that these buyers are moving from? Unless people are collecting properties or btl landlords there must be properties being sold by all these multiple potential buyers queuing up to view properties.

There are always new FTBs coming through. In my area, it's a lot of people being able to work from home and deciding they don't want to live in the busy cities any more (Zoomtown-on-Sea as the Guardian called it) and moving to the 'coast', although the whole of Cornwall is affected.

Houses that were at the bottom end of my current price range two years ago are now going for closer to the top. I'm concerned I'm buying at the top of the market but now that Foxton's have started showing an interest in the Cornish property market I fear this is just the start and I need to get somewhere sooner rather than later.

Yes - a lot of people who were renting in London now have the opportunity to buy outside London as they no longer have to do the commute every day. A lot of my friends are in that boat. So there is an upsurge of demand from that perspective.

Please please may I join the tribe? I created a post like this about a week ago. I broke my chain, there was some issues with my purchase so I withdrew. Went ahead with my Sale (it was leasehold and was a ballache, at one point I was worried I would lose my Buyer). Anyway broke chain, now with folks for a bit. Feel like a failure as I had planned my Christmas in the house I was due to purchase, but the "issues" which came up through the enquiries stage were causing me sleepless nights. Anyway, now there is little coming to market, seems like smaller houses are £85K more than there were when I was looking in March. I have seen some places but I really don't like anything and I don't want to just buy any old thing. I am gutted but I am telling myself I have done the right thing. I know I need to look at positives, selling leasehold (so many issues with flats) and getting a good price for this, am staying with folks who won't take any money from me (they have a big house, lots of room, furniture all in outbuilding).
I had a little breakdon in front my my Dad the other day; he is so level headed and pragmatic and reminded me of all the positives. Told me there is no rush. I am worried that prices will escalate massively by end of the year but he doesn't think this will happen, something has to give. He also reminded me how upset I was back in May when I thought my flat was potentially unmortgageable due to ground rent clauses (I was devastated and in a really dark place as a result). But we got through, I had a great buyer (FTB) and we both managed to get to completion. Guys, I wish everyone here positive thoughts! Let's hang in there.

@FManc

A house around the corner from us in South Manchester completed in March this year for £465k. For whatever reason the new owners have put the house up for sale for an insane £530k!!! £65k in 6 months (no work carried out) It sold within 24 hours .

You all have my sympathy at the moment. We sold pre-Covid and offered on a house which ultimately fell through due to Covid/lockdown. We went into rented and then got sucked into the mania when lockdown lifted and had to offer over asking to secure the house we’re in. If it helps we moved in at the end of Nov’20 and I still look at RM daily just to be nosey/curious

Yes, this exactly happened here as well. A property has just come to market for £600,000, last year it has been sold for £543000.

I felt are those people just use this stamp holiday to make a huge profit?
They treat purchase & sell a property as business?

We're about to go on the market with our place and there has been precious little coming in the market which would suit our needs (not being picky, we just want to move into a house which is bigger than our already large flat!)

Those of you who have leafleted, did you just type up a letter about your situation and drop it in the letter boxes of the houses in the streets you want to be on? How much detail did you include? Would anyone mind popping up a rough example of what they said?

This thread made my weekend. I was moping around feeling sorry for myself - thinking I was the only one in this situation. Now I know there's a whole mob of us!

One day it will be our turn. And on that blessed day, we'll be the ones posting the threads on here about the right shade of Farrow and Ball paint. Someday...

Until then, I'm off to look at the same 40 houses on Rightmove - hoping one of them will magically tick the boxes.

Magic house fairy dust to us all!

@PessimisticOptimist, we all found eachother :-)

I'm looking in Devon - and we're now in the weird situation that sellers have got really greedy, so there are houses on the market but no one is buying them. There's several that have been sitting there since July (a year ago, they would have gone overnight.) So I think it is starting to cool a bit, but sellers and estate agents haven't quite realised it yet. Thank god, tbh. It was crazy. Also know of a few people who couldn't face putting house on the market into the carnage, so I wonder if things will start to balance out a bit now.

I'd agree that there are a lot of estate agents and sellers still kite flying, but the reductions are slowly but surely trickling through. (Sadly, just making them slightly more realistic, not many bargains about!).
We completed on our house sale back in June, moving into rented as we wanted to try something a bit more rural.

Rightmove is definitely the most used property platform in the UK, but most estate agents list their properties on their own websites and social media feeds before Rightmove have even processed the details and gone 'live'. So the route of phoning round estate agents should theoretically get you at least a few more viewings, if any properties you like actually come to market. Some agents also compile lists of potential buyers before properties come to market, so try to get onto those (helps to entice more sellers and means discreet marketing might be an option for those that don't want everyone knowing their business).

You could also contact agents about any houses you are interested in that are currently SSTC- don't forget, up to a third may fall through and if they've been hanging in a chain for months, the previous interested parties might have all bought elsewhere. This is going to work better if you are either a first time buyer with a large deposit, or someone who has already sold and is living in rented/with family.

There is definitely a lack of supply at the moment. Let's all hope people become a bit more confident about moving over the next few months and that soon we have lots more properties to choose from...

@Devondonkey Carnage is the right word!

I would give up but our rental was supposed to be for only 6 months, still here 2 years later, thanks to COVID and this bonkers market. It’s too small and expensive, and the rent has gone up recently too.🙄

I have a second viewing (hopefully) this week, it is a compromise but I do like lots of thing about it too. I think I’ve only got a chance as it’s on Zoopla and not RM, so less competion.

[quote Overdon]@Devondonkey Carnage is the right word!

I would give up but our rental was supposed to be for only 6 months, still here 2 years later, thanks to COVID and this bonkers market. It’s too small and expensive, and the rent has gone up recently too.🙄

I have a second viewing (hopefully) this week, it is a compromise but I do like lots of thing about it too. I think I’ve only got a chance as it’s on Zoopla and not RM, so less competion.[/quote]
Oof, 2 years?! There is actually a house up for rent on the street we would love to buy on. Part of me hopes we can sell ours quickly, move into that, then offer to buy it off the current owners 😂

@overdon But don't you get the sense it's slowing a bit? Only because things that have gone on at mad prices are just sitting there now - and things are starting to get reduced too. It's still moving fast on things that are sensibly priced, but otherwise it's def not like it was last year.

Yes @Devondonkey agree that the vastly overpriced houses are sticking for longer, but the EA/ vendors are very slow to reduce in my area.

@catsjammies Admittedly the 6 month timescale was ambitious given my circumstances at the time but hell, 8 months later COVID hit and you know the rest. I have considered a similar strategy to yourself, but the tenancy was signed before I got chance to view!

I have read some fab advice on this thread, you really have to think outside the box with this house buying lark at the moment.

Another one joining the club here. I must refresh Rightmove about 40 times a day in the hope that something new will appear. My search criteria is very broad to pick up anything that might be vaguely suitable. I'm now scanning constantly over the STC and thinking about contacting the EAs to see how it's going and to put me top of the queue to jump in if anything goes wrong with the sale. I feel like a coiled spring most of the time; it's exhausting.

Eugh can I join 😩😩
Been under offer for about 2 months now, we've only found one we've liked in that time as there's hardly anything coming on by us. We put an offer in of 25 grand over the asking price but we still got out bid 🤨
There are literally no houses for sale
Sick of people saying "something will come up" aaaaaagh it clearly hasn't in two months 🤯 xx

Just popping over to rightmove to just double check an estate agent has t added a new property in the last 2 hours that I've been busy 🤣🤣🤣🤣🤣

@sarahc336

Just popping over to rightmove to just double check an estate agent has t added a new property in the last 2 hours that I've been busy 🤣🤣🤣🤣🤣

haha this is me. I am pretty much checking every 1.5hours to 2 hours to see if any properties have been added so I can book a viewing asap before they dissapear!

Guys, I am having a wobble today. What is going on? I only completed my Sale 6 weeks ago, but just panicking. What did you all do with your mortgage offers? Luckily my broker told me to add the fee to my mortgage (in case it all fell through, and of course it did). Mine valid till 31st October, I guess after this I may need to get another DIP but will get brokers advice on this. From memory DIP is a "soft check". I think I have done all the right things in terms of changing address to my parents place, and getting on the electoral roll.
BTW what has everyone done with proceeds of Sale; mine is sitting in a savings account with the highest interest but to be honest it is peanuts. Am wondering about ISA's etc but not sure.

Totally relate to this! Sold our house in West Sussex 5 months ago as relocated to where we are now in East Cheshire. We're in a rental which is really not in the best of state as had limited option as we have a cat. Been actively looking here to buy for 5 months. Viewed 24 houses already, offered 4 and keep getting outbidded way above asking price. Another issue we didn't realise how much percentage of the houses here compared to southeast are leasehold despite it being a detached, semi or terraced and we only want to buy freehold so that reduces our options even more. Now considering relocating to East Midlands for many reasons where my DH grew up and we will have a much bigger search area there.