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

[Momniscient]

Just spotted the first one is full so have set up thread two so we can keep talking with minimal delay. Hoping that tagging works regardless ...

RightMove addicts, and serial refreshers of other property websites, share your troubles!

Posters from last two pages in the thread and OP:
@PessimisticOptimist
@Eastie77Returns
@RidingMyBike
@beguilingeyes
@DanisEndo
@EmmaH2022
@dubyalass
@BennyBean
@ByeByeMissAmericanPie
@areyouhavingagiraffe
@CheltenhamLady
@doubleraspberry
@YukoandHiro
@TulipsfromAmsterdam
@MummyJ12
@starseeking
@GoinSouth
@MiracleBaby2022

Original thread: www.mumsnet.com/Talk/property/4346330-Anyone-not-being-picky-and-STILL-cant-find-anything

Apologies for my rant earlier, I was tired and hungry - never a good combo I'm sorry it's so shit for everyone! A rubbish time to be going through the process but we'll get there, and hopefully those of you who've found somewhere actually get to move in sooner rather than later. I'm hopeful for the spring and all the delightful three-bed period terraces with kitchens big enough for a table that it's going to bring me.

@Nosnogginginthekitchen

Thanks. Yeah, think we'll just have to hope that someone people are still ramping up to it, though I'm strongly considering a letter drop in the roads we like. Anyone had any experience of that? What kind of wording is more likely to be successful?

Failing that we have plan B of renting for a year...

Following advice I've seen previously on MN about buying privately, I've just sent a few letters to the owners of houses that I like the look of in my favourite areas. I posted them via Royal Mail (1st class stamp), rather than through the letterbox, so the owners don't dismiss me as a stalker lol

This is the second time I've tried the direct approach, the first time I sent 5 letters and got no response, so figured they must not want to move. This time I've sent 5 letters again, but looking at Zoopla one of the houses was listed at the lower end of my budget 2 years ago, and didn't sell; it was overpriced then. If they respond to my letter, I'm aiming to offer that as an opening gambit, and if pushed I would go up to £20k-25k higher, though this would be the ceiling price for the road using recent sales, so could get downvalued for the mortgage.

I'll let you know if my plan comes to fruition

@Starseeking good luck, I hope it works out well for you. I had this a few years ago except the guy was a neighbour's and a builder. His MO was to pay well below market value, renovate and sell on the open market for £££. He offered me £150k for my 3 bed house which was worth £280k which I obviously refused. He still tries it on from time to time and I stick his cards straight in the bin!

A nice house has come up, although too far away from school for us. But it's for sale via auction on a date in March. In my head auctions are for major refurb things like on 'Homes under the hammer'? It looks like another probate/owner downsizing sale (been owned by same person for 50 years!) so needs some stuff doing but that's been the case with everything so far and they haven't been sold at auction.

Riding when I sold with POA for an elderly relative, we were told there was no downside for the seller to do MOMA and the buyer has to pay a fee so more commitment?

I didn't choose it so I don't know the details. The property needed redecoration but nothing major.

MOMA? What's that please?

@Didyousaysomethingdarling

MOMA? What's that please?

Museum of Modern Art

I feel a right plum now!

I meant, MMOA - modern method of auction.

Two viewings for me this weekend. The EA said "you've been looking for a while haven't you?". I replied with "yes, I am the richest homeless person you will ever meet". Fuckwits.
Anyway, house 1 is practical, good location, backs onto railway (although this is in a cutting), close to a main road but not on the main road. Decor very modern, but I could change this. Has a guide price of X-Y. Why do they put the Y (i.e upper figure)?
House 2 detached, 3 bedroom. I would argue it doesn't look detached as has a building next door, although they don't share the same wall. Lovely from outside, and like the decor inside, especially downstairs, character features, but upstairs layout is awful. Also is is so expensive and I don't understand why.
Thinking of offering on House 1 for the LOL's, but confused about upper limit. Thinking I could exceed their upper limit, but will others do the same?! God it is so confusing. The EA for this house was the EA on the house I was supposed to complete on last Summer (with the dodgy loft). I don't think they like me much (ha ha) since I pulled out, but at the end of the day they are still letting me view. Also I don't think they managed to sell that dodgy house, as I noticed it was back on the market in November with another agent. Guys, what should I offer?

@EmmaH2022
Thank you!

Oh that's interesting re the auction. I suppose it would also cut out all of this endless time with conveyancing not proceeding that loads seem to be going through?

I would have thought the downside of MMOA is that you narrow potential buyers right down to those who don’t mind the idea.

And why not offer, @areyouhavingagiraffe? What can go wrong?!

We decided against going with the agent who wanted to do a guide price range on our house. I dislike them intensely as a buyer.

@Doubleraspberry, what is the logic behind the upper figure? I don't understand? Is it to get buyers through the door? In which case you can say "offers in excess of". I don't understand upper figure and I don't know what to offer. Help.

They couldn’t really explain! They said the idea was to get people bidding. The other valuations all came in within the top 50% of their guide price so I will be interested to see if we end up selling in what would have been the bottom 50% range.

@Doubleraspberry, so an example, if the range was 550 to 575, are you saying your other EAs were valuing at 563 to 575? Is that what you mean by top 50%.
The thing is you can start a bidding war by just asking for offers in excess.
I think I need to offer over the upper figure.....But why did they not just list for 575+. So berluddy confused

[quote areyouhavingagiraffe]@Doubleraspberry, what is the logic behind the upper figure? I don't understand? Is it to get buyers through the door? In which case you can say "offers in excess of". I don't understand upper figure and I don't know what to offer. Help.[/quote]
Because you’ve been looking for a while, you have a good feeling for the market and its awfulness, you like house 1 etc, I would offer Y plus a small amount over if it’s all within your budget.

Also stress your chain free and flexible position. Good luck.

[quote areyouhavingagiraffe]@Doubleraspberry, so an example, if the range was 550 to 575, are you saying your other EAs were valuing at 563 to 575? Is that what you mean by top 50%.
The thing is you can start a bidding war by just asking for offers in excess.
I think I need to offer over the upper figure.....But why did they not just list for 575+. So berluddy confused[/quote]
Yep. But they said they’d expect to get a figure halfway through the range, which is also what I’d expect to get just marketing it at the price other agents would go in at. With the market as it currently is, I assume bidding wars happen regardless of asking price if there’s enough interest in the house - unless it’s so overpriced it puts people off looking at it in the first place.

Personally I dislike offers over as it sounds so demanding!

[quote areyouhavingagiraffe]@Doubleraspberry, so an example, if the range was 550 to 575, are you saying your other EAs were valuing at 563 to 575? Is that what you mean by top 50%.
The thing is you can start a bidding war by just asking for offers in excess.
I think I need to offer over the upper figure.....But why did they not just list for 575+. So berluddy confused[/quote]
I’d just offer what it’s worth to you. If you really want it, bid close to max or absolute max if it’s best and final. If you’d be happy with it but not that fussed if you don’t get it then how much money would feel OK to you? I don’t think there’s any formula to this - it’ll vary.

@Eastie77Returns

I was originally outbid by cash buyers (investors) on the house I’m currently buying. They then pulled out after deciding they wouldn’t make enough profit when they sold it on. So those of you who’ve lost to the cash rich...well it might not be over yet.

Regarding sellers re marketing at a higher price, my vendor accepted my offer then decided to remarket for £100k more after I’d instructed solicitors and organised my mortgage etc. She eventually came back after failing to sell at her stupidly inflated price but her behaviour means I’ve never trusted her and even as we now supposedly approach exchange I have no confidence that the sale will go through. If there were other properties available I would have tried to buy elsewhere rather than deal with this vendor. Unfortunately the market is what it is so here I am. I wish I could be happy and optimistic about moving to what is a lovely house but instead I’m just anxious and pessimistic.

My rant is over!

This is an awful system here that I couldn't believe!

I am from a country where your offer is legally binding unless you found huge misrepresentation, e.g. structural issues, missing deeds, which is super rare as the seller and agent has a legal responsibility to line all the ducks up and present that to buyer.

Guide price and offers over are generally to encourage bidding (I used to work in an EA). I hate it.

There’s a house I like on rightmove. Most things are still selling pretty quickly here and at over the asking price. So I’m assuming it’s overpriced. It’s been on since January I think, The price was dropped by £10k over two weeks ago and it’s still available but it’s still £25k over our budget. I don’t know whether it’s worth going to look or if the likelihood is that it’s still available because they won’t budge any further on price. It’s looks really nice so I’m not sure why it hasn’t sold close to asking price tbh

Thanks all. I have been looking for so long I have lost all sense of reality. If someone told me it was 2 billion, I would probably offer that (albeit I don't have that, minor detail though). I really don't know what the market is doing

I feel the same as you. How long have you been looking now?

@Paddingtonthebear, mid March 2021. I did find a place last Spring but pulled out due to legal issue (illegal loft coversion and extension). Proceeded with my Sale, completed in August 2021.

Yes we’ve been looking since April, had to pull out on a sale last summer due to bad survey. Feels like we’ll never find something now!

@Paddingtonthebear, I see your comments about guide price and bidding wars. But why do they put an upper limit on it?