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About to put our house up for sale...anyone else? Part Two!

973 replies

InTheCludgie · 13/09/2022 14:58

Hi everyone here is the new thread for those of us who are about to, or are currently trying to, sell our homes!

So we are now back on the market and have a viewing tomorrow morning, plus one for early next week. This week is a bit tricky as it's DS's birthday so have had to say no to a couple of suggested times for viewings.

How is everyone else getting on?

OP posts:
Doubleraspberry · 22/09/2022 13:59

Woo! Congrats!

Volterra · 22/09/2022 14:08

Thanks, I am very happy but major emotion is sheer relief 😀
It has actually gone quite smoothly with this buyer after the last. They offered 17th July and it was a split chain as moving in with parents so 4 properties involved in both chains, taken 9.5 weeks from offer. That bit quicker as they used last buyer’s searches and the lender did desk top valuation but shows it can be done.

ecochiroptera · 22/09/2022 14:11

@Volterra Congratulations! That does sound quite smooth.

We've had more viewings and more of the same feedback. Love it so much but ultimately too small. I'm confused to say the least. I know every single house in our town that is for sale/has recently sold. Nothing in this price bracket is bigger. In fact, most are smaller. If you want a bigger place, you'd have to buy a flat, move to the dodgier areas nearby, or spend £50k+ more. Our listing isn't misleading, meaning the floorplan is correct and the pictures aren't taken at a deceptive angle. We have absolutely no clutter or big, bulky furniture (we live quite minimalistic). The house is open and light with large windows and vaulted ceilings. Just don't know what more I can do. We do have one person who may do a second viewing, but after the last guy, I'm not getting my hopes up. So over it and we haven't even started the stressful bit yet.

Volterra · 22/09/2022 14:15

The agent has been brilliant. I wasn’t that impressed to start with but they really pulled their fingers out and came into their own after offer accepted and well worth paying for.

Doubleraspberry · 22/09/2022 14:20

@ecochiroptera I know how hard it is, after ours sat on the market so long with negative comments. I even saw comments on here about how impossible it would be to find a house for 100k more than our asking price specifically in the area it's in, and wondered very miserably why on earth ours was so very undesirable!

From a buyer's perspective, we've said no to some fairly large houses on floorspace just because the space wasn't configured in the way we need it. I think our own house had the same flaw around its bedrooms. But it means that we might be buying a smaller house than others, but it has the right rooms laid out in the right way. It's our personal needs, but it is for almost everyone, and I'm sure someone will come along who thinks your place is great. It sounds lovely.

Volterra · 22/09/2022 14:27

@ecochiroptera We were also sat on the market for a good few weeks earlier this year getting nowhere then we adjusted the price a bit and ended up with 3 offers on the same day for the price we had been thinking we might get. It was all a bit strange. Your house sounds lovely. I do wonder if people are worried about heating bills with things as they are maybe and see it as potentially expensive to heat? I think things that are a bit different do take that bit longer to go but it will, hang in there.

onthefencesitter · 22/09/2022 14:36

I am joining as my flat is on the market. Just curious if any of you have priced in interest rate rise into your calculation on how much you need to move? how much would mortgage interest rates rise by now that the base interest rate has risen 0.5%

ecochiroptera · 22/09/2022 15:07

@Doubleraspberry Yeah, I totally get that and it makes sense. In fact, the layout doesn't really work for us anymore either.

@Volterra Yes, that may be an issue. The house was modernised before we bought it and is very well insulated and our heating costs are not very high. But obviously buyers may not know that. It is definitely an unusual house (think barn conversion) and I said from the beginning that I would expect it to take a little longer to sell due to that. It's just that we have so many viewings that go nowhere, so I get my hopes up constantly. Really need to work on that.

sellinghomeswithmn · 22/09/2022 15:11

@Volterra congratulations that's so fast. We accepted an offer exactly 5 weeks ago. Still awaiting the buyers mortgage offer, searches have been requested, surveys have taken place.

Though it's a straight forward sale (selling to FTB and we have already completed on the house- just waiting for the renovation to start) I'd be surprised if we'd even exchanged in the next 4 weeks but we'll see I guess.

Positivelypatient · 22/09/2022 16:40

Great news @Volterra what a relief, how long do you expect the other property to take?

I've finally had the Memorandum of Sale from EA and done the necessary paperwork for the Solicitors. Homebuyers survey next week which I'm dreading. I am sure there will be issues, am I right in thinking a HB survey is fairly indepth? My buyer is a cash buyer so is not dependent on a valuation as such. Still they came for a 2nd viewing post offer on Monday and EA fedback that buyer still loves it so hopefully any obstacles thrown up by the survey can be overcome.

Good luck for those with viewings, I hope offers are forthcoming. I'm in SW and still not much on the market here.

Volterra · 22/09/2022 17:13

I think it’s a medium level @Positivelypatient on the survey front but could be wrong. The other house isn’t under offer again at the moment and a family row has kicked off over probate so I think a long haul...

DeadHouseBounce · 22/09/2022 17:36

Is Reduce Reduce Reduce the new mantra for UK property? Interesting and exciting times indeed!

Volterra · 22/09/2022 18:53

Interesting times @DeadHouseBounce but as we have seen things can change at the drop of a hat. If Truss does do something to the stamp duty on Friday then who knows what effect that will have this time given the interest rate rise.

It may be people feel that they want to fix rates whilst they can and take advantage of whatever she does with stamp duty (if anything) and whilst there is a cap on the fuel prices and they aren’t going to be quite as high as expected. Or not - time will tell!

Halstead · 22/09/2022 18:59

Hi 👋🏻 can I join the thread? Wanted to do so a while ago but we’re waiting for tenants to leave, then had to visit property to get ready for sale so held off rather than introducing myself and tempting fate!

House goes live on RM tomorrow. Had multiple valuations and went with the lowest as a. the agent wasn’t smarmy/wasn’t trying to oversell and b. I’m fairly comfortable with what the house is worth and it wasn’t the higher valuations - especially in a market that’s due a correction.

Let’s see where we end up! Nice to ‘meet’ you all.

SpaceyCake · 22/09/2022 20:51

Congrats @Volterra ! That's excellent news. 9.5 weeks is bloody good going! 😁

Volterra · 22/09/2022 20:58

Thanks @SpaceyCake . We had many weeks before that with a previous buyer who eventually couldn’t get the mortgage so a big relief.
Welcome @Halstead and good luck 🍀

fin764 · 23/09/2022 00:06

Hi, can i join in...

My sisters property had an offer accepted beginning of may and still hasn't completed. There is no chain and the buyer is an investor. The solicitors have said they are still waiting on the mortgage offer. valuation was completed end of june with no survey - she's not sure whether to re - list or keep waiting?

Doubleraspberry · 23/09/2022 14:00

Hi, @fin764 . That sounds annoying - does she know what the delay is down to?

We're now looking to exchange on 7 October (two weeks today) with completion very shortly afterwards. I'd be happy with same day, given that we're not leaving and they are in rented so presumably don't HAVE to move on completion day and we wouldn't therefore be in a huge pickle if completion didn't happen. But we'll see. Exciting to think we're so nearly there now.

fin764 · 23/09/2022 14:18

Doubleraspberry · 23/09/2022 14:00

Hi, @fin764 . That sounds annoying - does she know what the delay is down to?

We're now looking to exchange on 7 October (two weeks today) with completion very shortly afterwards. I'd be happy with same day, given that we're not leaving and they are in rented so presumably don't HAVE to move on completion day and we wouldn't therefore be in a huge pickle if completion didn't happen. But we'll see. Exciting to think we're so nearly there now.

They are saying the delay is with the underwriter apparently still reviewing. They have been saying this nearly going 3 months now. does a mortgage offer really take this long? everything else is done searches etc

good luck with yours!

Doubleraspberry · 23/09/2022 14:40

Ours took ages as my husband is self-employed and the underwriters kept asking for more and more stuff. But I rather meant do you know what is causing the underwriters to take so long? Are there unusual circumstances?

DeadHouseBounce · 23/09/2022 18:03

Volterra · 22/09/2022 18:53

Interesting times @DeadHouseBounce but as we have seen things can change at the drop of a hat. If Truss does do something to the stamp duty on Friday then who knows what effect that will have this time given the interest rate rise.

It may be people feel that they want to fix rates whilst they can and take advantage of whatever she does with stamp duty (if anything) and whilst there is a cap on the fuel prices and they aren’t going to be quite as high as expected. Or not - time will tell!

This stamp duty change is permanent, not a "holiday" like the last one, it makes sense to wait and let rates do their work so you get a cheaper house. No point saving a few thousand on stamp duty to get a 30 year debt at peak prices?

onthefencesitter · 23/09/2022 18:12

DeadHouseBounce · 23/09/2022 18:03

This stamp duty change is permanent, not a "holiday" like the last one, it makes sense to wait and let rates do their work so you get a cheaper house. No point saving a few thousand on stamp duty to get a 30 year debt at peak prices?

Show quote history

my impression is that most people on this forum are not FTB, we often have something to sell. Sure, if you are FTB, wait until prices hit rock bottom and interest rates rise but if you have a place to sell, does this still apply?

Volterra · 25/09/2022 08:14

We'll see @DeadHouseBounce . I think some will panic about more interest rate increases and look to buy now so can get a long term fix before the rates go up further. The lack and price of rental properties makes it difficult to rent and I think a lot of people between a rock and a hard place.

Hard to predict what will happen . I was convinced prices would go down once the pandemic hit and was totally wrong so it's all bets are off as far as I am concerned

Karmatime · 25/09/2022 10:00

Can I join in? We have valuations this week and have had the usual expect offers to choose from within 2 weeks. We shall see. It’s in a very popular area and the few similar properties that have come up this year have sold quickly. We are moving to the opposite end of the country so budgeting to move into a rental once the sale is underway. We won’t find anything to rent for less than 6 months so thought we might as well move down sooner rather than later in the process.

JesusInTheCabbageVan · 25/09/2022 10:09

Joining! House went on the market last week and off to a promising start, with 12 viewings yesterday. Just got to wait now to find out the feedback... we've got a few places lined up to view, but all of them involve compromising on something.

I will share a link to one we absolutely love, but have reluctantly had to rule out because it would mean practically isolating DS from his friends just as he's reaching teen years. So beautiful though. 😪

www.rightmove.co.uk/properties/127297982#/?channel=RES_BUY