Page 24 | Thread 2: "Anyone not being picky - and STILL can't find anything?"

Starseeking · 20/02/2022 17:28

@Alrightqueenie I really hope it doesn't come across that I'm aiming to get the house on the cheap, as I'm really not. I'm just trying to secure a family home that was up for sale a few years ago, and happy to pay current market price. I'm hoping my potential vendor responds at least, so I can explain this in more detail.

Starseeking · 20/02/2022 17:31

@RidingMyBike

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.

It sounds like they just want to get rid of it quickly. Standard auction terms are to complete within 28 days, unless otherwise agreed. Great way to get their money fast, although it's likely to be for lower than true market value they'd get through an estate agent.

Eastie77Returns · 20/02/2022 17:31

J147 I wish with all my heart I lived in a country with a better system. Not only is the process here crap, the housing stock isn’t always great but there is a lack of it in popular areas so you get caught up in all the uncertainty and madness for sub par properties. I never dreamt I’d end up in bidding wars for dilapidated wrecks when I started out but desperation led me to exactly that situation.

Although I like the house I’m buying I’ve had to make several compromises with it. The alternative is staying in this rental. I have not seen a single suitable house listed anywhere since around October last year.

Giraffe I find Guide Price pointless but assume it is a deliberately confusing tactic used by EAs to jack up the price.

Starseeking · 20/02/2022 17:37

It sounds like you like house 1 enough to make a decent offer, but not enough to go all out for it. If you offered in the middle of the range, would you be prepared to increase slightly to secure it? If so, I'd start there.

I've no idea why they sometimes put ranges like that, luckily I've not come across any properties which I've had to decide that on (yet!).

Starseeking · 20/02/2022 17:38

@areyouhavingagiraffe my last post was in response to your house dilemma.

areyouhavingagiraffe · 20/02/2022 19:36

@Starseeking, I think to be in with a chance I will have to offer top of range

RidingMyBike · 20/02/2022 20:51

I suppose the house up for auction has been owned by same person for 50 years so the price increase in that time will be stratospheric, whether it's sold quickly at auction for a bit less than waiting it out the more usual route!

And if it is a probate etc one then getting rid of it quickly has its advantages - I am very glad our sale did complete before Xmas as I'd have been worried sick at the house standing empty during all these storms!

Weird thing about the auction property is it's still only on OnTheMarket and not RM or Zoopla (not the EA's own website?!). Of course, that might just be because it came on over the weekend.

Alrightqueenie · 20/02/2022 21:35

@Starseeking oh no it didn't come across like you were being cheeky and trying it on. It was clear from your post that you're willing to pay market price. You just want to cut out the middle man, I understand this. I think posting cards is a really creative way to get interest, fingers crossed for you. It's just my neighbour is a cf and chancing his luck!

Starseeking · 20/02/2022 22:37

[quote areyouhavingagiraffe]@Starseeking, I think to be in with a chance I will have to offer top of range[/quote]

Good luck with the offer!

Starseeking · 20/02/2022 22:42

[quote Alrightqueenie]**@Starseeking oh no it didn't come across like you were being cheeky and trying it on. It was clear from your post that you're willing to pay market price. You just want to cut out the middle man, I understand this. I think posting cards is a really creative way to get interest, fingers crossed for you. It's just my neighbour is a cf and chancing his luck![/quote]

Indeed. I want to cut out the middle man AND not have to fight off 300 other weary house hunters to get to my perfect home, in the process.

I hope at least one of the note receivers contacts me this week, as my mortgage offer for the place that fell through expires a week tomorrow. At least if I have a new address to replace it with, I have a chance of negotiating a new offer with the bank, and getting the ball rolling with another £850 survey. Yay me lol

Starseeking · 20/02/2022 23:06

I've just seen another 4 bed come to the market, my area seems to be awash with them! This one is has been put on for £110k more than the vendor bought it for in January 2020.

As far as I can see, no work has been done to it, they even seem to have used the same pictures! I'd expect such an increase after a loft conversion or extension, this one seems to be solely down to passage of time, though being a bit punchy at a 17% uplift on purchase. I've made it an RM favourite to follow its progress.

friendlycat · 20/02/2022 23:21

It’s so difficult to gauge the £100k uplift in price. That’s the exact price difference on the house my sister bought but with only a year’s timespan and zero work or even decorating.

Several wanted the house and it went at over asking.

Twiglets1 · 21/02/2022 07:59

[quote areyouhavingagiraffe]@Starseeking, I think to be in with a chance I will have to offer top of range[/quote]
I would try offering at the top of the range but not go over it unless you later find you have to. They will have to take your offer seriously as it is at the top of their range and you are in a great position to buy

RidingMyBike · 21/02/2022 08:23

There's a 4 bed here that sold in June 2021 and come back on - redecorated, new kitchen and bathrooms. It's on for more than £125k than it sold for last year. It seems to just be sitting there. We did have a viewing booked but had to cancel when I had Covid. And then lacked the umph to rebook.

areyouhavingagiraffe · 21/02/2022 08:57

@Twiglets1, I was thinking of going £7,500-£10,000 over the top of range, I honestly don't know if that's just stupid.

Twiglets1 · 21/02/2022 09:10

[quote areyouhavingagiraffe]@Twiglets1, I was thinking of going £7,500-£10,000 over the top of range, I honestly don't know if that's just stupid.[/quote]
It’s hard for anyone to really advise as we don’t know your area as well as you do but personally I think if there is a range the vendors won’t be expecting to get an immediate offer over the top end of the range. I would consider offering at the top end of the range but stressing to the agent that you really do like the flat and are in a strong position to proceed immediately and would like to be kept informed of any barriers to you securing the deal.

Eastie77Returns · 21/02/2022 10:33

Good morning house hunters. I hope everyone is ok after the weekend storms!

giraffe I would be tempted to offer above the top end of the range from the start if you are interested. I'm not sure there's ample time to negotiate a higher offer given how quickly the market is moving. I just think with the level of competition at the moment many buyer's opening gambit may be at or above top of range and you might not get a chance to improve a below range offer. Of course I have no idea how popular this property is an only you know how suitable/desirable it is for you.

I sent a despairing polite e-mail to my solicitor and the EA this morning asking if someone can just call the vendor's solicitor now and ask her if/when exchange is happening, I need a response today. I sent my deposit to my solicitor last week and we are supposed to complete next week Wednesday. Given that we need 7 days to request mortgage funds I can't see it happening as my solicitor will not request funds before exchange.

I'm dreading hearing the vendor has pulled out but I just need to know as all of this uncertainty is awful.

areyouhavingagiraffe · 21/02/2022 10:37

So, I have offered, and went in over the top of their range. Market is horrendous, my gut is telling me it is too low.
It also pains me that a year ago these houses were £40K less, but hey ho. Just got to get on with it now.
I do want a second viewing, and will ask for this if my offer is accepted.

dubyalass · 21/02/2022 10:41

Eastie my heart goes out to you, it must be so stressful.

No news from EA yet about the results of the B&F. They've had the weekend to mull it over but I suppose it might take longer if several family members are involved (probate sale).

I've already mentally checked out of this one so it'll be a bit of a shock if I do get it!

areyouhavingagiraffe · 21/02/2022 10:48

@Eastie77Returns, sending you lots of good luck

dubyalass · 21/02/2022 10:52

Good luck Giraffe!

J417 · 21/02/2022 11:55

[quote areyouhavingagiraffe]@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.[/quote]
Why the seller didn't get the building control or whatever before selling?

I could never understand this system.

If it can't be sold it is wasting everyone money and time

J417 · 21/02/2022 11:56

@Eastie77Returns

Good morning house hunters. I hope everyone is ok after the weekend storms!

giraffe I would be tempted to offer above the top end of the range from the start if you are interested. I'm not sure there's ample time to negotiate a higher offer given how quickly the market is moving. I just think with the level of competition at the moment many buyer's opening gambit may be at or above top of range and you might not get a chance to improve a below range offer. Of course I have no idea how popular this property is an only you know how suitable/desirable it is for you.

I sent a despairing polite e-mail to my solicitor and the EA this morning asking if someone can just call the vendor's solicitor now and ask her if/when exchange is happening, I need a response today. I sent my deposit to my solicitor last week and we are supposed to complete next week Wednesday. Given that we need 7 days to request mortgage funds I can't see it happening as my solicitor will not request funds before exchange.

I'm dreading hearing the vendor has pulled out but I just need to know as all of this uncertainty is awful.

Felt for you, good luck!

areyouhavingagiraffe · 21/02/2022 12:04

@J417, I asked them to get a regularisation cert (retrospective consent). Council wouldn't issue this as it needed a lot of remediation work.

Eastie77Returns · 21/02/2022 12:21

So last week my solicitor advised me that the vendors solicitor would like to complete on March 2nd. Fine. I asked her to please chase for an exchange date and to let me know if there are any issues moving to exchange. There were no subsequent updates.

After sending my chasing e-mail this morning to her and EA, the EA replied as far as he is aware everyone (me and vendor) is ready to go and the onward purchase is ready so he is frustrated with the delay.

Up pops my solicitor to casually let us know that there are outstanding queries on the onward purchase, the vendor's solicitor informed her of this some time ago.

I had asked her last week if she was aware of any issues when she communicated the completion date and she made no mention this. EA replied, baffled. He has an e-mail from the vendor's solicitor saying all is fine. No outstanding queries.

She then added that if she does not request funds today completion on March 2nd is impossible (previously said she needed to request them by Wednesday). Since she will not request funds before exchange, March 2nd is clearly not going to happen.

She ended the e-mail by asking the EA to chase the vendor's solicitor for an update, with a smiley emoticon to add insult to injury. Why isn't she chasing??

EA is tearing his hair out and has messaged me separately to say both solicitors are awful and the vendor's is only slightly worse than mine.

I have no idea who and what to believe.