Property market is not dead. How quick is this.

[Cookiemonstersnana]

DM has gone into a residential home with dementia.
We have finally put her house up for sale on Wednesday.
This is near to where the HS2 will be. Cheshire.
It needs updating as not been touched since dad died in 2001.
Today we have had 8 viewings and tomorrow another 6 are booked in.
4 from today have made offers with full asking price.
Waiting until after the weekend to make a decision.
Oh and 2 of the 4 are cash buyers.

The house across the road from me sold for £480k in two weeks. Round here it's getting more and more expensive (West Midlands)

If people have mortgage offers - then I think that they are protected from the recent changes? So yes the market can still move until those dry up?

The mortgage offer is tied to a particular property though. They don’t help with properties going on the market today.

The problem can come when the DIP doesn't lead to a similar value mortgage offer due to affordability falling at application / offer stage because of higher rates.

I also agree that EA price probate/going into care home properties lower because they know (in general, cos I know the opposite is also true!) that relatives aren't as bothered about getting the absolute maximum price for their parents house as they would be in their own (money going to care home/have to pay HIT/splitting it between siblings/just don't need the money.

So I would think the EA priced it to sell immediately in this case and didn't maximise its worth for you.

We had 4 different valuations and they were all the same.
We have had 5 offers at the moment, a couple are thinking over the weekend.
EA is going to ask for bids via envelopes by Wednesday.
We as a family are happy with the valuations for the house and it's priced right
for the area. This sale is not desperate to pay care home fees for a couple more years.

It’s a lot of money for some people , and sadly still unaffordable for a lot of people in this country.

what a snobbish comment !!!!!!