Selling soon - anyone else wants to join?

[FTStheFirstTimeSeller]

Hi all.

I am selling the house soon. So far I am in the polishing stage as we haven't redecorated for a bit (it is not a polished turd 😁).
I remember there was a sellers/buyers thread here a while ago and it was terrifying yet fascinating! Also practical to see for experience.

I am a first time seller, no upward chain (in UK), getting ready to put house on market February/ early March. Hoping for very quick turnaround! Due to finances (every penny needed after), I am thinking advertising via Strike agency. Have anyone done it? How was dealing with the buyers? I am thinking doing group viewing so I don't lose much work time...

Currently being properly spammed by various solicitors since I stupidly put my real number into one "find local conveyancer" website which looked solid🙄

I will be eternally grateful or any tips and experiences you could share and if anyone is getting ready to sell, join me here please!

We are trying to sell (SW London, flat in nice area) and are now under offer and going through conveyancing etc.

Since we started the process by putting it on the market (in late August) the market seems to have completely turned. Initially lots of viewings went to hardly any right after the Truss mini-budget. We then had to reduce the price by quite a bit to eventually get an offer. And other flats (and houses) nearby that have not reduced are still just sitting there unsold.

What has changed of course is mortgage rates (which in turn feed into sentiment as well). Our buyers will be paying about 20% more on their mortgage each month than they would have if they bought last Spring, and we can borrow about 20% less for our onward purchase for the same monthly cost.

Further interest rate rises are also forecast for Jan and Feb, the leading house price indices (e.g. Nationwide, Halifax) are all now showing month-on-month price falls, and there is a consensus among economists that significant house price falls are set to continue. Chains are also commonly breaking even after offer as banks are frequently now down valuing or buyers can not longer get a mortgage for the amount they thought they could.

Think what I am suggesting is maybe for you to manage your expectations about things like the price you list at, the chance of the quick sale you hope for, and whether group viewings is something you are likely to have to contend with etc.

Sorry if this is not what you want to hear right now and good luck with your sale.

We didn’t use strike but we did use a different online agency. Dealing with the buyers was fine and conducting viewings was kind of enjoyable, but the support we got once we had accepted an offer was non existent. It was basically myself and the buyers that kept pestering the solicitor to keep the chain going. I’m hindsight I would pay more for a ‘proper’ estate agent. Also, if you do go down the online estate agent route remember that it is essentially a business transaction. We became quite friendly with our vendors and it was a huge mistake- they left a lot of crap and totally took advantage of us in that sense. Dealing with solicitors and estate agents would be much more preferable in my opinion.

Hi both! Thank you!

@JohnnyM I want to hear everything, whether it's positive or not. Fongers crossed for you!
We have lower value houses here, not scratching near Stamp duty (unless it's additional proprty) so it seems bit more stable than the very expensive properties around me. Hopefully, it will be fine, if I have to drop a bit, I have to drop. My idea of price was already just below what others put on market in last few months so will amend as necessary.

Thanks @Higgeldy I think I will give strike a try for couple of weeks before engaging local one. I judge them massively on house descriptions.
No friendly here. I am treating this like a product I would be selling in a business, no feelings towards buyers. 😁 Famous last words?