Page 27 | Thread 2: "Anyone not being picky - and STILL can't find anything?"

J417 · 24/02/2022 13:57

@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.

yes I learnt that thru this very expensive lessons

When will house price stabilize?

Could someone remind me some of the buyer markets in recent years to calm me down?
It can't be like that for years, right?

Eastie77Returns · 24/02/2022 16:08

@J417 my max budget would be £750k at a stretch and I’m looking for a 3 bed. I’m in East London and have been looking outside my borough, where 3 bed houses are around £1 million, to neighbouring areas in Waltham Forest and nearby Essex: Woodford, Wanstead, Highams Park, Chingford. DP likes Chigwell but I’m not keen:)

When I look on Rightmove the houses that come up under £750k are in places such as Enfield and Edmonton where we do not wish to live so in fairness I have a fairly narrow range area-wise and could find it easier if I was willing to compromise.

The house I’m buying is in Waltham Forest and the market there is crazy. Lots of families moving in and competition is fierce with absolute wrecks selling in days.

J417 · 24/02/2022 17:34

[quote Eastie77Returns]@J417 my max budget would be £750k at a stretch and I’m looking for a 3 bed. I’m in East London and have been looking outside my borough, where 3 bed houses are around £1 million, to neighbouring areas in Waltham Forest and nearby Essex: Woodford, Wanstead, Highams Park, Chingford. DP likes Chigwell but I’m not keen:)

When I look on Rightmove the houses that come up under £750k are in places such as Enfield and Edmonton where we do not wish to live so in fairness I have a fairly narrow range area-wise and could find it easier if I was willing to compromise.

The house I’m buying is in Waltham Forest and the market there is crazy. Lots of families moving in and competition is fierce with absolute wrecks selling in days.[/quote]
100k on £750k is lots of money ...

I am sorry that you are going thru this

I do not know what over asking they got here as the agents never told me.

J417 · 24/02/2022 17:46

I walked by the chain complete house today that I didn't offer on, primarily because based on EA saying that vendor was actively looking.

The owner has moved out

I can't stop crying walking home.

dubyalass · 24/02/2022 18:36

I keep revisiting the unsuitable houses to see if I could make them work but no, too many compromises and I'd rather wait and spend a bit more money to get something closer to what I'd like. It is forcing me to think a bit more creatively, which is no bad thing.

There's quite a lot coming on down here, just none of it where I'm looking!

Eastie77Returns · 24/02/2022 23:41

Sending strength to all of you.

Emma sorry to hear that and feel free to complain. We are all at varying stages and in different positions in this hideous process.

EA sent me photographic stills of him posting the signed contracts by next day delivery to the vendor's solicitor. I'm not sure if he's a secret Mumsnetter and has read my comments about not trusting anything he says!

He said there are now no other outstanding issues, the one query with the vendor's onward purchase has been resolved.

I relayed all of this to my solicitor and asked if she could contact the vendor sols tomorrow afternoon, check she has received the contracts and then push for an exchange date as there is literally nothing else to discuss now. If I don't ask for this I know she won't proactively do anything. I constantly have to send her specific requests, writing out tasks as if I'm e-mailing my 8 year old. I have never met a 'professional' so lacking in initiative.

EmmaH2022 · 25/02/2022 10:30

Thanks Eastie
Sounds like the EA wants to be clear about what they're doing!

Hopefully I can say this here without getting flamed...I wonder what effect the war will have on all this. I am at a stage of life where I'm just tired of everything so I would at least like to have moved closer to mum if we get WW3, and to a nicer area as I imagine the place I live will get worse!

CheltenhamLady · 25/02/2022 14:54

@Eastie77Returns

Sending strength to all of you.

Emma sorry to hear that and feel free to complain. We are all at varying stages and in different positions in this hideous process.

EA sent me photographic stills of him posting the signed contracts by next day delivery to the vendor's solicitor. I'm not sure if he's a secret Mumsnetter and has read my comments about not trusting anything he says!

He said there are now no other outstanding issues, the one query with the vendor's onward purchase has been resolved.

I relayed all of this to my solicitor and asked if she could contact the vendor sols tomorrow afternoon, check she has received the contracts and then push for an exchange date as there is literally nothing else to discuss now. If I don't ask for this I know she won't proactively do anything. I constantly have to send her specific requests, writing out tasks as if I'm e-mailing my 8 year old. I have never met a 'professional' so lacking in initiative.

I think we must be using the same solicitor. I feel that I have done all the leg work and am paying them for the privilege.

Apparently, we might exchange today or we might not!

J417 · 25/02/2022 15:26

@J417

Accepted ! Vendor said they are flexible and not in chain

Hopefully this is the ONE!

I am suddenly in chain with a chain free probate property (well not sure what to believe)

Doubleraspberry · 25/02/2022 15:31

Argh. How does this happen?! I hope it’s only a minimal complication.

Eastie77Returns · 25/02/2022 15:34

CheltenhamLady it’s a complete joke. I also feel as if I’m doing all the running around. I genuinely do not know what I’m paying her for. The only real help I’ve received has been from her junior assistant.

Online tracking shows the contracts were delivered and signed for this morning by the vendors solicitor. I informed my solicitor who helpfully said she hopes to hear confirmation in due course. I mean I’ve just told her I can see the solicitor has the files. But God forbid she proactively pick up the phone and ask for the solicitor if we can exchange as I requested.

EmmaH2022 · 25/02/2022 15:47

I think I am missing some posts, MN is very glitchy for me.

Cheltenham blimey! Crossing everything for you.

CheltenhamLady · 25/02/2022 19:28

Well, we didn't exchange, or if we did no one has told me.

@Eastie77Returns, that is exactly what is happening to us. It is like pulling teeth.

RidingMyBike · 25/02/2022 20:53

There is still nothing to even view! March just around the corner though? Maybe some will appear soon?

Guttedbuyer · 25/02/2022 21:24

We've viewed two this year - could be here a while if we are averaging just one a month! And that's the only two that have come on in our price/size range etc.

RidingMyBike · 26/02/2022 08:25

It's depressing, isn't it?! We viewed two each in Dec and Jan, one in Feb. I've bought in a fast market before (2006) and bought the third house I viewed. But the online operation wasn't as slick then so didn't need to be quite so speedy about it! Last time we bought (2009) we only viewed one house!

I suppose too the 2006 purchase was a small terraced house of which there were many to choose from and it was a case of comparing little differences in features. And more choice of area as I needed to cycle to the station which was quite a big area. Now I'm wanting a big 4-5 bed family house within a mile of a particular school and can't find anything we could even fit into! (Ok, one house but it was way outside our price range).

I'm too picky, aren't I?!

Eastie77Returns · 26/02/2022 08:28

Well there has been a significant increase in properties in my area this morning on Zoopla/RM. Looks as if that Spring bounce might be coming. Keeping fingers crossed that those of you still looking see a similar improvement in your areas.

CheltenhamLady Sorry you are still in the pre-exchange limbo. I won’t offer empty platitudes such as “I’m sure it will happen next week” as I know how pointless that is when we are at the mercy of this horribly opaque system😒.

J147 oh no, how annoying. It’s amazing how so many vendors who are chain-free, willing to move into rental etc when offers are accepted suddenly morph into more complicated situations further down the line. Fingers crossed your chain is not too stressful.

EmmaH2022 · 26/02/2022 21:06

Eastie that's interesting. I haven't looked since my offer was accepted.

How are all the house hunters doing?

Today I have been trying to figure out what I do if things fall through. As I type, there are kids playing footie in the corridor, and roadworks - just started with the circular saw - outside.

The thing that really gets me in summer is the general noise. If I am priced out of the market, I would want an air B and B in summer. We don't appear to get any notice for the roadworks either.

I don't know how people manage with earplugs in all day, I can't do that.

Paddingtonthebear · 26/02/2022 22:36

Nothing on the market that we want to view for the last few weeks.

The house we liked that was increased by £40k is still for sale ..

Alrightqueenie · 27/02/2022 08:18

Paddingtononthebear I have a theory about vendors increasing the original price by x£. They have it at the inflated price for a bit and then deliberately reduce it to or near the original asking price. People will think its a bargain and buy it at the price the vendors wanted originally. This way the vendors don't have to accept a reduction on the original asking price iyswim.

Alrightqueenie · 27/02/2022 08:25

I might be wrong but it seems to fir the pattern I'm seeing in my area. I saw an ex council none standard construction house on RM for £550k a month ago. It wasn't worth it as similar houses were on sale for between £450k & £475k. Obviously, it didn't sell at the inflated price but it has now sold for £475k. If the vendor marketed it for £475k originally they may have had to accept a reduction.

RidingMyBike · 27/02/2022 08:53

There are some sticking here - the one we viewed a few weeks ago that was rather over-extended and needed a lot of work is still hanging around. As is the one that sold last year and now on at £125k more.

Thinking about emailing all the EA on my list again this afternoon. I originally registered in early Jan, so maybe remind them we exist and update what we're looking for? Ahead of the sudden flurry of houses coming on in March?!

Beginning to think actually buying a house is a part-time job in its own right!

Paddingtonthebear · 27/02/2022 09:16

The better tactic would have been to put it on for the higher price to begin with rather than to have viewings, ask for full and final offers when people have already offered the asking price on day 1, and then turn around and decide it’s worth another £40k. Agent should have managed it all better too.

EmmaH2022 · 27/02/2022 10:59

Vendors can't win either...my solicitor questioned the price of the property I am buying as she thinks it's rather low. I take her point and expect them to ask for an increase. But I do also know the amount of "development" going on on that street is very off putting to people. I put that in inverted commas because compared to what's going on in my road, it's literally nothing.

I was puzzled by the question, I know she's not happy with a lot of things about it though, and I appreciate she is trying to do the best for her client. Ironically the things that worry me don't worry her and vice versa!

oiltrader · 27/02/2022 11:51

Toxic cocktail of rates, bills and inflation to force 10pc drop in house prices
Home values will start to fall in the second half of this year through to 2023

www.telegraph.co.uk/property/house-prices/toxic-cocktail-rates-bills-inflation-force-10pc-drop-house-prices/