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Original poster

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:
Stayingstrongish · 30/09/2022 16:50

Congratulations @manateeandcake ! Interesting about the note working, I’ll give that a go myself.

Airymanning · 30/09/2022 16:51

FuzzyPuffling · 28/09/2022 08:09

Oh housebuying it doesn't sound like you've let anyone down. House stuff is an absolute pain and I reckon most of us have has false starts and huge hiccups along the way. So much of it is down to sheer luck ( what's on the market at the time, who's buying...) and none of us can relax until the deal is done.

I have massive wobbles about our potential move ( detached to terrace, no bath, dishwasher, parking or cat flap). Yesterday I was really tearful. Today is another day...press on!

Doing your best is all any of us can do.

We pretty much just did this exact move and I felt same but settled nownx

123deepbreath · 30/09/2022 18:17

@manateeandcake fabulous news! Hopefully it's all super smooth from here on out!

We had our mortgage offer through today! One less thing to stress over, just got our environmental search to complete and we're good to go from our side, just need to check in with our buyers to see what's happening with them!

FuzzyPuffling · 30/09/2022 19:59

Airymanning · 30/09/2022 16:51

We pretty much just did this exact move and I felt same but settled nownx

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Thank you :)

manateeandcake · 30/09/2022 20:41

Good luck to everyone who has viewings tomorrow.

@123deepbreath how long did it take for your mortgage offer to come through?

Twiglets1 · 01/10/2022 06:48

onthefencesitter · 25/09/2022 17:22

I was always told by older relatives (who did need mortgages) that it was easier to upsize in a falling market...

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It is easier to upsize in a falling market. Because you may get 50k less for your property (as an example) but buy the bigger one for 100k less than it would have cost in a stronger market.

Twiglets1 · 01/10/2022 07:10

Londonhead · 28/09/2022 09:27

I don’t take joy that other people are in the same position but I feel comfort that other people are going through the same thing.

Took is 9 months to find a buyer for our apartment which we have outgrown and can’t extend/amend. We found something else and were going to need to rent temporary as the transactions (for various reasons) can’t go through at the same time. We were due to exchange on our sale in the next few weeks. Now I just don’t know what on earth to do if we continue the sale and the purchase falls through we are looking at renting long term taking ourselves out of the property market being unstable and throwing money away on rent and then being able to afford less than the mortgage we have agreed anyway due to new rates . If we don’t take the sale we are stuck in a house we don’t want to live in, will clearly have to take less equity as house prices will drop and it might take us another year to find a buyer when we try and sell again I am exhausted and don’t know if I can go through it again. If miraculously both manager to go through we know we are buying at the top of the whole market and have probably overpaid for the house and taken on a huge new mortgage.

I feel cheated by the whole thing we worked so hard to get on the property ladder, we have made zero money on our apartment save for the capital paid down and now we are just stuck. We work hard and earn good incomes all I want to do is live in an fliPping house not a big one just a house suitable for four people. We want to have another baby I don’t want to have a baby in this house, if we do then by the time we are in a position to find another property I’ll might be on maternity leave and we’ll be able to afford less again on top of the rates/prices available at the time. The whole things is a mess. I feel defeated.

I think you should proceed with your sale whatever happens with your purchase. Property prices are at least stagnant now in most parts of London and may even fall.
You will find somewhere else to buy if your current purchase falls through and you will get it for a decent price compared to a few months ago.

ecochiroptera · 01/10/2022 08:13

We are going back and forth over whether we should actually go into rented should our house sell. Pro: No onward chain might make it more attractive, especially since most of the interested viewers now seem to be people in desperate 'need to move urgently' situations. It would give us time to really scope out the new area we're moving to. Would get this relocation done much quicker. Con: What a hassle trying to find somewhere to rent with multiple pets. Moving twice (and the associated cost). Unsure because I don't really understand the economy: Money. Where we are looking to buy, we would be cash buyers. If we rent, we lose money on the rent. And our money is losing value due to the recession. But house prices might fall, so our cash could buy more in a year?

Anyone here relocated before and decided to sell, rent, buy? Or sell and buy directly? Are you happy you made whichever decision you've made?

Stayingstrongish · 01/10/2022 08:29

Twiglets1 · 01/10/2022 06:48

It is easier to upsize in a falling market. Because you may get 50k less for your property (as an example) but buy the bigger one for 100k less than it would have cost in a stronger market.

Show quote history

I’m wanting to downsize and was told by an estate agent last week it was financially better to do that in a falling market. Do they just tell you whatever you want to hear?

Twiglets1 · 01/10/2022 08:34

Stayingstrongish · 01/10/2022 08:29

I’m wanting to downsize and was told by an estate agent last week it was financially better to do that in a falling market. Do they just tell you whatever you want to hear?

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How can it be better to downsize in a falling market? I mean, sure the property you buy may be cheaper but you will potentially lose more money on your sale than you gain on your purchase.
Estate agents do tell us what we want to hear I think.

Volterra · 01/10/2022 09:29

Stayingstrongish · 01/10/2022 08:29

I’m wanting to downsize and was told by an estate agent last week it was financially better to do that in a falling market. Do they just tell you whatever you want to hear?

Show quote history

It is better to upsize in falling market and upsize in a strong one I was told,

Twiglets1 · 01/10/2022 09:32

Volterra · 01/10/2022 09:29

It is better to upsize in falling market and upsize in a strong one I was told,

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You’ve said it’s better to upsize in both types of market 🤔

JesusInTheCabbageVan · 01/10/2022 10:36

Twiglets1 · 01/10/2022 09:32

You’ve said it’s better to upsize in both types of market 🤔

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Is Volterra an estate agent Grin

JesusInTheCabbageVan · 01/10/2022 10:40

Anyway. Have accepted an offer on our place and had an offer accepted on another house, so taking a much needed breather this weekend and trying not to get too excited.

Twiglets1 · 01/10/2022 12:01

JesusInTheCabbageVan · 01/10/2022 10:36

Is Volterra an estate agent Grin

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🤣🤣🤣

FuzzyPuffling · 01/10/2022 12:26

Woo hoo Jesus. Good work.
Get thee to the tip with stuff you don't want!

JesusInTheCabbageVan · 01/10/2022 12:30

FuzzyPuffling · 01/10/2022 12:26

Woo hoo Jesus. Good work.
Get thee to the tip with stuff you don't want!

Tried that, but DH just finds his way home again (badoom tish).

mynameiscalypso · 01/10/2022 12:35

Just catching up on all the various journeys! We had a slightly manic week where our very low starting off on a house was miraculously accepted so long as we could commit to completion by mid-Nov so we had to scrabble around to get our mortgage application in. Through some financial jiggery, we've managed to break the chain so don't need to sell to buy which means the timeline is feasible from our perspective but it's been stressful. Of course, the vendors then have taking a week to appoint solicitors and get the paperwork sorted which doesn't help...they're the ones who are pushing for speed so god knows what they're playing at!

girlboss94 · 01/10/2022 12:43

@mynameiscalypso out of interest, how much below asking price did you offer? Every property we see is above our budget but we have no idea where to start - hard to tell in this market

123deepbreath · 01/10/2022 12:59

@manateeandcake 12 days from application in, mortgage company valuing property on Monday then offer sent Friday afternoon to our broker so not as long as I thought it would be!

@JesusInTheCabbageVan fantastic! Have a lovely weekend before you start stressing over all the paperwork the solicitors want!

mynameiscalypso · 01/10/2022 13:05

girlboss94 · 01/10/2022 12:43

@mynameiscalypso out of interest, how much below asking price did you offer? Every property we see is above our budget but we have no idea where to start - hard to tell in this market

I think we offered 15% under asking price. I think it's very much dependent on where you live though.

PinkPlantCase · 01/10/2022 13:47

The feedback that people keep giving us for our house is that the house is beautiful but that they want more space or a bigger garden😩

We also want more space which is why we’re moving.

Its a 3 bed semi with an integral garage so downstairs feels a bit less spacious than upstairs.

But the size of the house isn’t something we can change. Waiting for a buyer is so frustrating.

mynameiscalypso · 01/10/2022 14:03

@PinkPlantCase We had similar feedback. I pointed out to the agent that if it had those things, it would be worth a lot more money. It's really tough though isn't it?

manateeandcake · 01/10/2022 14:32

@JesusInTheCabbageVan Sounds like we are in the same boat! We are just about to get to grips with the solicitor's paperwork. Not exactly how I want to spend my Saturday, but then it's not how I want to spend any other day of the week either.

@girlboss94 putting in a low offer depends so much on area, your position as a seller, the position of the vendor and whether the property was realistically priced in the first place. We accepted an offer of just over 5% below asking price. Our house was priced realistically for the peak of the market earlier this year but things were already slowing in our area just when we were ready to sell. Sometimes agents will give you an idea of which sellers are likely to be receptive to a low offer, so it's always worth asking. And if you do put in a low offer, it's worth framing it nicely i.e. you love the property but this is the maximum you can stretch to. We were nearly put off by our buyers coming in with a ridiculously low offer to begin with accompanied by aggressive emails demanding to know why we were asking so much and accusing us of being unrealistic.

manateeandcake · 01/10/2022 14:33

Sorry, I meant your position as a buyer