Page 12 | Thread 2: "Anyone not being picky - and STILL can't find anything?"

areyouhavingagiraffe · 01/02/2022 16:56

@Eastie77Returns
is believing that everything happens for a reason
LOVE this

Siouxtse1 · 01/02/2022 16:56

Remember people, it's not you, it's them! Don't second guess yourself when you know what you want and you've got your stuff sorted. They either catch up, knuckle down and sell to you, or they end up still rushing round tarting their place up for viewings long after you've waved the removals off and are tucked up on your chair with wine and colour charts! (In your much nicer anyway, new pad).

Karma catches up with people like this. You might not get to see it, but sometimes it's useful as a stress reliever to imagine it!

J417 · 01/02/2022 17:00

Sadly 5% above asking offer is rejected, need all the encouragement and hugs

A bit of background on why I am so angry with myself
Last year the market is hot, and things are flying off but prices are still I think sensible
This year prices are crazy, just BECAUSE I waited my vendor and passed opportunity
I felt sure they will dump me for higher prices.

The real estate system is not fair, especially when prices fluctuate a lot

Siouxtse1 · 01/02/2022 17:33

They might always come back to you if their first offer falls through. In the meantime, keep looking. Something will come up.

We thought we were on the verge of exchanging and completing at the end of January last year. Had a rental lined up in new area, jobs offers had been issued. Then our buyers mentioned they'd need a survey, that they hadn't wanted in the previous 3+ months....(Think their mortgage providers may have insisted). Then they needed an unnecessary roof survey. All during strict Covid restrictions too.... We gritted our teeth and smiled sweetly.

Then we couldn't find a rental for weeks (decided to stay near original area rather than mess husband's work about during their busiest season). Stamp duty holiday tapering was announced and the market went mental. Detached four beds we wanted were snapped up for tens of thousands more than they had been. So we completed, we moved into rented and by the time we'd unpacked, the houses were all sold!

But it is what it is. I daren't stamp my foot here in case it goes through the floorboards. And this is an experience, it's confirmed we'd never rent again, that we must have pavements outside our door, but that we are perfectly happy living a more rural, off grid lifestyle (think no mains gas, rather than no mains water, we have limits!).

And most of the crazies have already bought their houses now. So now it's just convincing the mortgage people you can afford the repayments and the vendor (who you now have to vet because there are still kite fliers and fantasists about) that you aren't about to lower your offer because you have the temerity to request a pre-exchange visit!

I've come to the conclusion that I'd rather laugh about it than cry. Not everyone is an oblivious, graspy specimen. There are still decent people out there, that want to move. We just have to find them!

FanGirlX · 01/02/2022 17:41

There seems to be a sudden influx of houses in my area of Manchester. Including some that went SSTC last year.

The agents are still telling me that they are valuing more and there will be more to choose from after Feb half term.

I have no idea how the number of buyers compares to the number of vendors though. As someone said below, it's a case of vetting the vendors too as some are just kicking tires.

dubyalass · 01/02/2022 18:19

My cheeky offer was rejected and they've gone with the other offer. Totally fair enough, and I'm not bothered. Onwards!

Thethreeofusandpooch · 02/02/2022 06:44

Hello, very new here. Firstly I’m a dad (hope that’s ok)! My husband and I put our house on the market two weeks ago. It went on the market on the Monday and by Tuesday morning it had sold - asking price offer! We went to see a property on the Monday too and offered and had it accepted Tuesday. The house we are (hopefully) buying is perfect. Close to our sons school, bigger than where we are now and just generally much more of a family home. We were thrilled to have the offer accepted. However, our vendors haven’t found anywhere after looking. We really would like to move by the end of April. The solicitors and EA know this and it has been communicated to both our buyer and the vendor. The vendor has said if they don’t find anywhere within the next month they will put things into storage and move into rented…they are in their 70s. Is this actually likely?!? Tearing our hair out as we’ve paid for surveys, searches, applied for mortgage etc etc…so, money has been spent on the understanding of the moving out if they haven’t found situation! Any thoughts?

Siouxtse1 · 02/02/2022 08:15

Well, it's not out of the question. Less likely when they look at the reality of the situation though. The rental market in a lot of places has shrunk considerably because many BTL landlords sold up during the housing stampede last year. So getting a rental in itself could be tricky- do you know if they have pets?- that makes them less attractive.

The hassle of moving twice is also a big no-no to some people. Two lots of packing up and cleaning to a sparkly finish in a short space of time can take it out of some people. Bigger rentals command huge premiums these days, so if they go somewhere smaller, they might begrudge the storage fees for their stuff.

We did it, moved into rented (and we're still here- sob!). So it does happen. But you might need to gauge how motivated these vendors actually are. If all else fails and they seem to be wavering closer to your hoped-for moving date, you can offer a cash incentive (pay a set fee towards removal fees or storage costs for a set time- can be left with the solicitor).

Conveyancing also seems to have slowed down for all but the most simple transactions or insistent buyers and vendors. Make sure you've set out how regularly you want a progress report from the solicitor (weekly is fine, don't expect anything on a Friday, the country is obsessed with Friday completions). Make sure you ask if there's anything else you need to be pushing the vendors for (outstanding documents or replies to enquiries usually). Then go through the estate agent if possible, just explaining that "The solicitor says we are waiting on _, do yo know if it's been passed to their solicitor yet?" Estate agents are usually motivated because if the sale doesn't complete, they don't get their money.

You also need to work out how mentally prepared the vendors are. If you push too much, they may have a meltdown. Hopefully, you've found some robust individuals, genuinely looking towards their next stage. Good luck!

This is obviously independent of any mortgage you might have set up, so it needs writing into the contract and has to be funded by yourselves. Your solicitors would be able to advise.

Siouxtse1 · 02/02/2022 08:17

Whoops! Last paragraph should be fourth paragraph. Sorry!

Thethreeofusandpooch · 02/02/2022 08:33

@Siouxtse1

Well, it's not out of the question. Less likely when they look at the reality of the situation though. The rental market in a lot of places has shrunk considerably because many BTL landlords sold up during the housing stampede last year. So getting a rental in itself could be tricky- do you know if they have pets?- that makes them less attractive.

The hassle of moving twice is also a big no-no to some people. Two lots of packing up and cleaning to a sparkly finish in a short space of time can take it out of some people. Bigger rentals command huge premiums these days, so if they go somewhere smaller, they might begrudge the storage fees for their stuff.

We did it, moved into rented (and we're still here- sob!). So it does happen. But you might need to gauge how motivated these vendors actually are. If all else fails and they seem to be wavering closer to your hoped-for moving date, you can offer a cash incentive (pay a set fee towards removal fees or storage costs for a set time- can be left with the solicitor).

Conveyancing also seems to have slowed down for all but the most simple transactions or insistent buyers and vendors. Make sure you've set out how regularly you want a progress report from the solicitor (weekly is fine, don't expect anything on a Friday, the country is obsessed with Friday completions). Make sure you ask if there's anything else you need to be pushing the vendors for (outstanding documents or replies to enquiries usually). Then go through the estate agent if possible, just explaining that "The solicitor says we are waiting on _, do yo know if it's been passed to their solicitor yet?" Estate agents are usually motivated because if the sale doesn't complete, they don't get their money.

You also need to work out how mentally prepared the vendors are. If you push too much, they may have a meltdown. Hopefully, you've found some robust individuals, genuinely looking towards their next stage. Good luck!

This is obviously independent of any mortgage you might have set up, so it needs writing into the contract and has to be funded by yourselves. Your solicitors would be able to advise.

Thanks for your advice. They will be cash buyers for their onwards. No pets. They have clearly done some sorting through the house to make sure it’s sellable!

They have answered all queries quickly and EA says they are out looking “actively” twice a week. They are moving away from the London suburbs.

We just want this house!!

J417 · 02/02/2022 10:52

Are you driven by fear?

I found myself driven by fear and not really thinking straight

e.g.

saw a house last spring, no offer in 5 months, don't dare to offer on
last summer, saw a house significantly under priced, don't dare to offer on
driven by fear to offer full asking price on the limited supply in the market

Hubby said I should take a month or 2 break

I fear if I take a break I will no longer able to buy a house

Please help , how you manage your fear in this crazy market

Thethreeofusandpooch · 02/02/2022 11:03

@J417

Are you driven by fear?

I found myself driven by fear and not really thinking straight

e.g.

saw a house last spring, no offer in 5 months, don't dare to offer on
last summer, saw a house significantly under priced, don't dare to offer on
driven by fear to offer full asking price on the limited supply in the market

Hubby said I should take a month or 2 break

I fear if I take a break I will no longer able to buy a house

Please help , how you manage your fear in this crazy market

I’m just fearful it’s all going to collapse and it’s literally all I’m thinking about 🤯🤯 yeah, also driven by the fear of there being NOTHING else out there!

Eastie77Returns · 02/02/2022 11:57

Thethreeofusandpooch Welcome! I personally think a couple in their 70s moving into a rental and putting items in storage is very unlikely but you never know.

If you want to move in at the end of April then even if they found somewhere today I doubt they'd be in a position to move by then unless they found somewhere vacant and chain free. Again, anything is possible! It's just the market is tough at the moment and in my experience - apologies in advances as this is an ageist comment - older buyers understandably tend to be less flexible about the property they are buying and so it can take longer even in a market with lots of supply which is not the situation we are in now.

I hope this doesn't sound all doom and gloom. The house you're buying sounds perfect for your family so fingers crossed it all works out, it usually does!

Eastie77Returns · 02/02/2022 12:02

@J417

Are you driven by fear?

I found myself driven by fear and not really thinking straight

e.g.

saw a house last spring, no offer in 5 months, don't dare to offer on
last summer, saw a house significantly under priced, don't dare to offer on
driven by fear to offer full asking price on the limited supply in the market

Hubby said I should take a month or 2 break

I fear if I take a break I will no longer able to buy a house

Please help , how you manage your fear in this crazy market

In response to these fears I would say

Sometimes properties look as if they've been on for a long time because an offer was accepted and then the purchase fell through

Underpriced may be because there is a significant 'issue' with the house that is a dealbreaker for many but not for you? i.e. houses on busy roads often tend to be a bit cheaper than comparable houses on a quiet residential street but some people are not bothered by traffice etc

In this market if I really wanted a property and had the budget I'd probably go in at full market price (only if I thought it was worth it).

Siouxtse1 · 02/02/2022 12:09

@j417 and @Thethreeofusandpooch

Well if you can't trust in your vendors and buyers (and you probably can't really, 100% because who ever really knows how someone else will act?) you are just going to have to trust that what you need to happen will happen.

If it's the right place for now, it will happen. And if there's a big nasty problem hiding there waiting to show someone a lesson, it's not a lesson you need to learn yet (or hopefully ever!).Your surveyor and conveyancing team are qualified to sniff out the house issues. If you think of anything that might be relevant, you can get them to check on your behalf. Let them take the slack for those worries- it's what you pay them for!

Every time you buy or sell a house, you are taking a leap of faith. It's a bit scary, but the alternative is staying in the same place forever. There's a world out there and not everyone in in is going to treat you badly. Some people have actually already realised the world doesn't just revolve around them and they aren't the only party in the transaction. Those are the people you want to deal with. Eventually, they will come!

Starseeking · 02/02/2022 12:42

I can't believe it.

After nearly 7 months of patiently waiting and following up alternately with my solicitor and EA on my vendor, their onward purchase has told them they need to exchange this Friday and complete 2 weeks later.

Yesterday I was still refreshing RM every half hour, and debating whether to view yet another over budget property. Today I'm transferring deposits and confirming exchange and completion dates.

I'm in shock that this is finally happening, and that in just over 2 weeks me and my 2 DC will start getting settled.

EmmaH2022 · 02/02/2022 12:44

Starseeking yay! How cool is that!
So pleased for you.

Siouxtse1 · 02/02/2022 13:01

@ Starseeking

Congratulations! Good luck with your packing and organising!

Everyone else

See- it does happen eventually!

EmmaH2022 · 02/02/2022 13:07

@Siouxtse1

@ Starseeking

Congratulations! Good luck with your packing and organising!

Everyone else

See- it does happen eventually!

I would like to be exempted from "everyone". It feels a bit odd round here.

I was going to shut up but FWIW, I bought my current place from sheer practicality, didn't want to lose my buyer. No tingle, not that I was seeking one.

I have been very happy here.

Starseeking · 02/02/2022 13:27

Thank you @EmmaH2022 and @Siouxtse1.

To be honest, after all this time, I wondered if it would ever happen, hence being on this thread (and the last one) for so long.

Me and my EXDP sold our house last summer, and me and the DC have been staying with family ever since. All our stuff is in storage, and we've been living out of suitcases. I will be so happy to have my own space again, I can't wait!

Good luck to everyone searching for a property, I hope you find somewhere soon.

I look forward to the day the powers that be reform house buying in this country, it's an absolute mess!

Eastie77Returns · 02/02/2022 13:30

@Starseeking

I can't believe it.

After nearly 7 months of patiently waiting and following up alternately with my solicitor and EA on my vendor, their onward purchase has told them they need to exchange this Friday and complete 2 weeks later.

Yesterday I was still refreshing RM every half hour, and debating whether to view yet another over budget property. Today I'm transferring deposits and confirming exchange and completion dates.

I'm in shock that this is finally happening, and that in just over 2 weeks me and my 2 DC will start getting settled.

Wowwwww....that is great news Starseeking!

It's crazy how quickly things can turn around:)

Very pleased for you and your DC...exciting times!

Will you actually move straightaway in a couple of weeks (sorry can't remember if you are renting..?) Hope everything runs smoothly from here on in.

A rookie house buyer question, when you transfer your deposit can you do this online or do you have to go into your bank/building society?

Latest in my saga: my solicitor is pushing back on EA's plan that I take out the missing buildings insurance before exchange but has proposed I do an inspection on the day of exchange and if all looks fine start the insurance then which makes more sense I think.

Now waiting to find out how many enquiries are still outstanding...

EmmaH2022 · 02/02/2022 13:30

Star do you know why they shelved the long gap between exchange and completion?

Eastie77Returns · 02/02/2022 13:30

Sorry, just read you are staying with family!

TulipsfromAmsterdam · 02/02/2022 13:45

@Starseeking congratulations to you and your family.

Where is everyone else at on their buying/selling journey?
We sold last Aug but pulled out as we couldn't find anywhere. Tried again October, offer accepted on a house but sellers couldn't find anywhere so after viewing house just before Christmas with small chain went for that. Hoping to complete March/April.

Thethreeofusandpooch · 02/02/2022 13:51

@Starseeking

Thank you *@EmmaH2022 and @Siouxtse1*.

To be honest, after all this time, I wondered if it would ever happen, hence being on this thread (and the last one) for so long.

Me and my EXDP sold our house last summer, and me and the DC have been staying with family ever since. All our stuff is in storage, and we've been living out of suitcases. I will be so happy to have my own space again, I can't wait!

Good luck to everyone searching for a property, I hope you find somewhere soon.

I look forward to the day the powers that be reform house buying in this country, it's an absolute mess!

The house buying process in this country is absolutely ridiculous! I honestly think it should just be much more like the Scottish system. Once you offer, you’re locked in - end of! Only three weeks in and already causing so much stress.