Page 26 | Thread 2: "Anyone not being picky - and STILL can't find anything?"

areyouhavingagiraffe · 22/02/2022 18:06

@Eastie77Returns, and don't worry about venting. We all know how you feel. This whole nightmare of the last year has been one of the most stressful times of my life and I have not even bought a place yet, just sold. It is a nightmare, so vent away.

hopefullybuying · 22/02/2022 19:54

I'm a long term MNer (regular NC) and have been lurking here since the beginning of the first thread. Today is the first time I feel like I have anything meaningful to contribute, and even then, it's not much! But we put in an offer on a property last week which has gone to a closing date (sealed bids, offers over - Scotland) which is tomorrow. My solicitor has my offer ready to submit. I'm a bag of nerves tonight! It's the only thing vaguely suitable and we really need to be out of our rental pretty soon, which we moved into after selling our house and relocating for a new job (and house hunting the whole time, but almost nothing has come on the market). I feel like our bid is enormous, but I also know some properties are going for 25% over, and it's not that big

Fingers crossed we get good news tomorrow afternoon!

tinx · 22/02/2022 20:13

@Momniscient so feeling this thread

I’m literally sick and so tired of house hunting
I’ve missed out on so many properties (due to underhand estate agents) and had an offer accepted on a dream house only for it to be a SUB SALE property (advertised on right move as a normal freehold sale) so walked away at advice of solicitor

I can feel that I’m now going to end up settling on something I’m not 100% on just for the sake of it
Really disheartening tbh

I’m cry myself to sleep sometimes

Paddingtonthebear · 22/02/2022 22:29

Commiserations to those with obstacles and good luck to those who have made progress. We are stiiiiiiiilllll looking, 10 months and counting

Guttedbuyer · 22/02/2022 23:35

@hopefullybuying

I'm a long term MNer (regular NC) and have been lurking here since the beginning of the first thread. Today is the first time I feel like I have anything meaningful to contribute, and even then, it's not much! But we put in an offer on a property last week which has gone to a closing date (sealed bids, offers over - Scotland) which is tomorrow. My solicitor has my offer ready to submit. I'm a bag of nerves tonight! It's the only thing vaguely suitable and we really need to be out of our rental pretty soon, which we moved into after selling our house and relocating for a new job (and house hunting the whole time, but almost nothing has come on the market). I feel like our bid is enormous, but I also know some properties are going for 25% over, and it's not that big

Fingers crossed we get good news tomorrow afternoon!

Good luck! Closing dates are horrible.

hopefullybuying · 23/02/2022 13:17

Thanks @Guttedbuyer. I've heard through the grapevine it's very popular so I'm extra worried now that our (I think) very generous offer is still not enough. And on the other hand, nervous about the size of the mortgage if we do get it!

J417 · 23/02/2022 15:34

Expensive lesson - felt like a failure ......

After talking to so many EA, I found I 'upgraded' my skills and still very poor at being played at.
I am sharing to see if anyone could give me an advice how to spot a lie and EA only say things they want you to know

My dear beloved no 1 beloved EA

Never over promise, very knowledgeable, very diligent and most houses completed under this agent. Well I wish I knew!

The EA , karma on him

He tricked me into this chain property, saying in 2-4 weeks the vendor would find a house. How stupid I didn't keep the timeline and naively believed him when he said they are actively looking and a lot of houses are coming up in the area soon !!!! Meanwhile passed all other houses, now competition here is really fierce now!!!

EA #3

He is super annoyed by my questions and busy as he are selling lots of very sought after properties. Very knowledgeable, practical and know the market very well.

EA #4

A bit similar to EA #2 but more diligent sigh, for the property I offered on

EA #5

Efficient and practical. I really like her.

Guttedbuyer · 23/02/2022 15:47

We are really starting to think we will never be able to buy a house. As a regular family with an average amount of equity how do you compete with multiple cash buyers who seem to have endless pots of cash?

Absolutely devastated to be buying in this nightmare time.

hopefullybuying · 23/02/2022 16:17

@Guttedbuyer Same. We didn't get the house - so someone outbid us with at least 22% over. Probably more. Who knows.

CheltenhamLady · 23/02/2022 16:24

We were outbid by 50k on one house and it went for over 100k over asking, and it needed 100k plus spending on it. That sale fell through twice, because of the silly amounts being offered, but the valuation for mortgages didn't match up to what buyers were prepared to pay.

Guttedbuyer · 23/02/2022 16:39

@hopefullybuying sorry to hear that. It doesn't get any easier the more you do either.

I don't think that here in Scotland we have an issue with the mortgage value holding up because we already know the value but no one stands a chance against cash buyers.

How do you resign yourself to staying put?

J417 · 23/02/2022 16:58

[quote hopefullybuying]@Guttedbuyer Same. We didn't get the house - so someone outbid us with at least 22% over. Probably more. Who knows.[/quote]
22% over!!!! unbelievable!

Did the agent mark down the price? What was the valuation?

hopefullybuying · 23/02/2022 17:10

@J417 it's not uncommon here (Scotland). Everything is offers over anyway and in "normal" times, 10% over is pretty standard. However, with not being in normal times and being in quite a highly sought after location, 20% isn't uncommon now (but something like 25% is still considered very high, though it has been known to happen). I'd heard most were going for 15-20% recently so thought we stood a good chance at 21% over.

The "offers over"/asking price is almost identical to the value on the home report, so the danger of going so far over is that you will only be lent the value on a mortgage and the rest has to be added to your deposit. Lots of maths went into it to make sure we could definitely afford it, which we could, just! However, there are loads of people around who are cash buyers or have massive deposits so there are still plenty bidding way above.

hopefullybuying · 23/02/2022 17:14

@Guttedbuyer I just can't contemplate staying put. We sold our house, relocated, and got a rental, but I found out I was pregnant during all of that and now am almost third trimester with no place to move to and absolutely no space for a baby here. I'm going to go out and put letters through doors this weekend, begging someone to sell us their house, and quickly.

Eastie77Returns · 23/02/2022 17:14

Sorry to hear things are such a nightmare for so many of you. The amounts some of you have been outbid by is insane. It really is shit. If my current purchase falls through I will have no hope of buying in the area anytime soon. There is on average ONE house a week coming up, always at least £100k more than I am paying and of course that is just the starting price.

@areyouhavingagiraffe - thanks, it's great to have this place as a sounding board. How are things going with your search/offer?

@J417 - to be honest I work on the basis that all EAs lie to some extent and say what you want to hear. Their end game is to get their commission and even the nice ones will massage the truth to suit their agenda. The EA dealing with my current purchase is absolutely charming, a lovely guy. I also 100% know he has lied or at best over-promised various things to keep me sweet. I'm afraid I hold quite a pessimistic view of it all.

Overdon · 23/02/2022 17:32

I went on RM today and 2 new properties popped up. Only when I clecked on them it screamed across the listing that the property had ‘sold in a day’ the proclaimed ‘sold before going on market’. FFS why bother advertising them then? Self promotion no doubt.
I don’t know why but it really made me feel so despondent.

areyouhavingagiraffe · 23/02/2022 20:37

@Eastie77Returns, no news. I called the EA for an update; the guy asked for my name and said "oh, you are the lady that..." and then he stopped. I am sure he was about to say "you are the lady that pulled out of a Sale last Summer two weeks before exchange of contracts".....
Anyway, he said not decision has been made and there were further viewings today. Not much coming on but those that are are even more expensive that the house I offered on and need major work (the house I offered on is also expensive but all work done). So, I have a feeling my offer will be rejected even though I went in OVER the top of their range. Just scared now guys, how is a 3 bed house, no extension, needs loads of work up for over £600k. It's just so dire. I honestly don't know how long I can stay at my folks; there is no pressure on me to go and it's fine, but just feel like a failure. Mid forties, living with parents. I am the richest homeless person I know :-)

areyouhavingagiraffe · 23/02/2022 20:38

Sorry that should be "you are the lady that pulled out of a PURCHASE last Summer two weeks before exchange of contracts".....not sale

Eastie77Returns · 24/02/2022 06:40

I read London’s smallest micro flat has sold, I think it was the cupboard Emma posted, 80% above asking price of course.

Starseeking · 24/02/2022 10:50

Good news: I received a response from my favourite one of the 5 houses I approached for a private sale.

Bad news: The freeholder doesn't currently want to sell, but will let me know if so in future.

However, this has spurred me on to look for some more properties that I like in my area, and directly contact a few more freeholders. There are just not enough properties currently available for sale.

Alrightqueenie · 24/02/2022 11:05

That's what I'm finding @Starseeking anything reasonably priced flies off the shelves quickly. You will find more houses for sale in March/April as that's the traditional time for house sales. Also have a look at auction properties.

Starseeking · 24/02/2022 11:12

How funny you mentioned auction properties @Alrightqueenie, I've literally just finished looking through the next Savills catalogue!

Things are getting a bit desperate for me; so much so I've even started considering the places that I previously discounted for various reasons pondering on whether I could make them work...however I haven't taken any action, as I know I would regret it.

J417 · 24/02/2022 12:00

@Eastie77Returns

Sorry to hear things are such a nightmare for so many of you. The amounts some of you have been outbid by is insane. It really is shit. If my current purchase falls through I will have no hope of buying in the area anytime soon. There is on average ONE house a week coming up, always at least £100k more than I am paying and of course that is just the starting price.

@areyouhavingagiraffe - thanks, it's great to have this place as a sounding board. How are things going with your search/offer?

@J417 - to be honest I work on the basis that all EAs lie to some extent and say what you want to hear. Their end game is to get their commission and even the nice ones will massage the truth to suit their agenda. The EA dealing with my current purchase is absolutely charming, a lovely guy. I also 100% know he has lied or at best over-promised various things to keep me sweet. I'm afraid I hold quite a pessimistic view of it all.

@Eastie77Returns

Might I ask what's the price range you are looking for and where you are looking?

100k is a lot of money , even for a 1m house, it is 10% more

Alrightqueenie · 24/02/2022 12:14

@Starseeking great minds and all that! 😁

onlineauctions.my-auction.co.uk/search

EmmaH2022 · 24/02/2022 13:45

So a cupboard and a loo gets £90,000.

Sorry for everyone's woes. I have a feeling my flat purchase is going to hit the rocks shortly, not least because it's underpriced. There is some dithering at their end which I suspect will soon culminate in asking for more money which I don't have.

My solicitor is unhappy with some stuff as well...I haven't fully processed it so I won't go on about it.

I am also priced out if this collapses - unless I go in a chain. I try not to post because I'm aware I'm in a very privileged position and it seems churlish to complain.

Best of luck to all.