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Original poster

Anyone else selling?

701 replies

Hibernatalie · 03/04/2023 19:09

We are about to be listed - photographer coming this week. Obsessively checking Rightmove but think we’ve already found the one (could easily go before we can put an offer in but that’s the one we are hoping for).

Anyone else? What position are you in?

OP posts:
Tracker1234 · 20/06/2023 19:43

Honestly it does get better. I know when you are in the middle of all of it it doesnt seem like it but eventually it will come to pass. Sold a relative house very recently and it seemed endless. Put house on Nov and we got two offers mid Jan. No chain either side. Dated house but in a great area in London so wasnt tupennce! It took a good few months. Thought it was never going to end but it did and money was transferred and house sold.

We priced to sell and even then reduced by 4%.

I am keeping my fingers crossed for all of you!

dragonmummy17 · 20/06/2023 20:44

Hope it's OK to join the thread? Relocating for work, house on the market for a week and a half and only one viewing. It's so stressful
I start the new job in September and can just about commute for a while, but childcare drop offs and pick ups make it tight.
We are viewing 3 properties on Saturday, hopefully if we have to drop the price, so might they?

Rowdythree · 20/06/2023 21:30

Congratulations @FigandHoney great news!

We've got a viewer booked in for Thursday but they're not even on the market yet so I'm not getting my hopes up. If they did put an offer in, we wouldn't take ours off the market until they are proceedable

Welcome @dragonmummy17

XNC · 22/06/2023 10:35

So I'm dipping out almost as soon as I dipped in! With the interest rates and all the uncertainty, we've decided not to risk it. Feeling really deflated, as it really was/is a beautiful house and in our number one area.

We would have already stretched outselves with the current rates, but if they went up to those nightmare, 10/15% rates, we wouldn't be able to cope.

Mercurial123 · 22/06/2023 12:58

My buyer is demanding I resolve issues from the survey before we complete. I was going to reduce by 5K, but he refused. It's a buyer's market, so I have reluctantly agreed.

Tracker1234 · 22/06/2023 14:06

Mercial - I would be careful about repairing the issues unless of of course they will help you and also help sell the house should the current buyer drop out.

It really is a buyers market but what needs to be remembered is that there are very few people who HAVE to sell, (I include probate houses (not always though) and people who have to move for work but surely if you got a new job it would have to be bloody marvellous to persuade you to move in this climate?

Therefore what is likely to happen is house prices stall. People just dont move if they dont have to. Its not ideal but having been in the house selling/buying market for years it will stablise. People will start to accept the new mortgage rates or lower their expectations.

Mercurial123 · 22/06/2023 16:28

Tracker1234 · 22/06/2023 14:06

Mercial - I would be careful about repairing the issues unless of of course they will help you and also help sell the house should the current buyer drop out.

It really is a buyers market but what needs to be remembered is that there are very few people who HAVE to sell, (I include probate houses (not always though) and people who have to move for work but surely if you got a new job it would have to be bloody marvellous to persuade you to move in this climate?

Therefore what is likely to happen is house prices stall. People just dont move if they dont have to. Its not ideal but having been in the house selling/buying market for years it will stablise. People will start to accept the new mortgage rates or lower their expectations.

We are exchanging contracts before the work takes place. I've had one buyer drop out and need to keep this buyer happy as I've offered on another property.

RedBonnet · 22/06/2023 16:40

dragonmummy17 · 20/06/2023 20:44

Hope it's OK to join the thread? Relocating for work, house on the market for a week and a half and only one viewing. It's so stressful
I start the new job in September and can just about commute for a while, but childcare drop offs and pick ups make it tight.
We are viewing 3 properties on Saturday, hopefully if we have to drop the price, so might they?

Hi we've been on market for a week now with only one viewer. EA says we're getting average 100 hits a day on right move. My thoughts are the house is attractive to buyers but they're worried about mortgages etc. So we'll sit tight for now. If the hits drop off dramatically in 2 more weeks I might consider a price drop, but it depends on prices of new sellers in our area. Don't be too quick to reduce unless you priced high to start with.

Your sellers have no obligation to reduce just because you have.

mnahmnah · 22/06/2023 16:44

Our mortgage is approved and survey done - finally we can get going!

The survey brought up more issues than we were expecting though. I’ve asked our estate agent and solicitors to request evidence of some things and some others to get sorters. If they don’t sort them, we will ask for a reduction. We were told that everything that needed fixing after the previous survey before their chain broke down, has been fixed. Not the case. So we offered based on it being in good condition.

Rapunzel91 · 22/06/2023 17:37

We accepted an offer on our house 2 weeks ago and had our offer accepted the day after. Been busy booking survey, solicitor and also seeing an architect as it’s a massive project.

Got a call from the EA yesterday that our buyers haven’t even gotten an mortgage in principle because of their self employed😫 The house we’re buying is also a probate sale so expecting a long wait but at the same time want it to go as quick as possible.

rainydayfairy · 22/06/2023 18:39

Can I join? We went on the market yesterday. Stupid time to move really but we’ve outgrown the house and this has been the first real opportunity (youngest now has 30hours, I’ve gone back to work, DH promotion). We’re not desperate to move but are pretty keen to. Trying not to feel disheartened that we’ve got no viewings from the first day on Rightmove.

mnahmnah · 22/06/2023 18:46

@rainydayfairy

I have had a few funny looks and comments when I have said we are selling and buying! I understand why it might seem crazy. But like you, we really really need more space. Our two boys share a bedroom, which has worked great so far. But the eldest starts high school in September and is desperate for his own room and space, privacy etc from his little brother. Our youngest is football crazy and we just don’t have much of a garden right now. He needs a decent garden to play. So not an ideal time to move, but as a family we really need to.

mnahmnah · 22/06/2023 18:48

@Rapunzel91

It’s crazy that they were able to view properties, let alone get an offer accepted! Every estate agent I spoke to when arranging viewings asked for our situation and when offering we were asked if we had a mortgage in principle. This is bad on your EA

Rapunzel91 · 22/06/2023 18:53

mnahmnah · 22/06/2023 18:48

@Rapunzel91

It’s crazy that they were able to view properties, let alone get an offer accepted! Every estate agent I spoke to when arranging viewings asked for our situation and when offering we were asked if we had a mortgage in principle. This is bad on your EA

@mnahmnah i agree. We knew their chain and they had an offer accepted on their property before they viewed ours, told us their budget etc. Just assumed they already have one in place as we needed it before viewing properties. I’m not entirely happy with our EA as is, seems to be a lot of clueless people there, will see how it goes..

whatsappdoc · 22/06/2023 19:15

Been on 3 weeks, first viewer today. Not hopeful, willing to drop the price but want estate agent to be pro-active and advise. They are charging a whopping 1.5% so I want them to earn their money and do the best for us.

rainingsnoring · 22/06/2023 19:26

Tracker1234 · 22/06/2023 14:06

Mercial - I would be careful about repairing the issues unless of of course they will help you and also help sell the house should the current buyer drop out.

It really is a buyers market but what needs to be remembered is that there are very few people who HAVE to sell, (I include probate houses (not always though) and people who have to move for work but surely if you got a new job it would have to be bloody marvellous to persuade you to move in this climate?

Therefore what is likely to happen is house prices stall. People just dont move if they dont have to. Its not ideal but having been in the house selling/buying market for years it will stablise. People will start to accept the new mortgage rates or lower their expectations.

There will still be a significant number of people who need to sell for various reasons. That will cause everyone else's houses to fall in value, the opposite of on the way up. There have already been quite significant falls and they are only increasing now with the current mortgage rate rises. Imo, if you need or really want to sell within the next 5 years (at least) you would be better to take the hit now and price realistically. What usually happens though is that potential sellers hang on and hang on and then suddenly panic all at once, flooding the market. There is no prospect of prices zooming up again.

dragonmummy17 · 22/06/2023 19:53

RedBonnet · 22/06/2023 16:40

Hi we've been on market for a week now with only one viewer. EA says we're getting average 100 hits a day on right move. My thoughts are the house is attractive to buyers but they're worried about mortgages etc. So we'll sit tight for now. If the hits drop off dramatically in 2 more weeks I might consider a price drop, but it depends on prices of new sellers in our area. Don't be too quick to reduce unless you priced high to start with.

Your sellers have no obligation to reduce just because you have.

Show quote history

We've got two viewers on Saturday now so fingers crossed. We've priced to sell quickly so don't want to think about lowering the price yet

PurpleBananaSmoothie · 22/06/2023 20:29

A week and a half until one of the mortgage offers expires. Still no exchange. But I’ve stated a completion date that works for us and so hoping everyone just agrees. The removal firm I wanted to use are having enquiries for that date and might get booked. So I’ve been frantically ringing to see if anyone has availability for the two likely dates, one I’m really struggling to get anyone who is available. So clearly people are still moving! I’ve got loads of stuff to get on FB to try and get rid off before we go too! Feeling very worn out by the process now. Hopefully we’re nearly there.

Mger2 · 23/06/2023 00:26

I don't understand this attitude l. It's a good time to move up the ladder, provided you're not over leveraged. The people losing out are those at the top of the chain selling a probate.

startingoveragainagain · 23/06/2023 17:54

My beautiful home has gone on the market today. We are divorcing and I'll be drastically downsizing. I'm heartbroken I love my home.

mnahmnah · 23/06/2023 22:13

I’m sorry @startingoveragainagain

Choosing to move is one thing. Being forced to leave a house you love must be heart-wrenching. On top of a divorce too!

PurpleBananaSmoothie · 23/06/2023 22:21

@startingoveragainagain it’s always hard to leave house, even if you’re wanting to move. When you love the house and aren’t ready is even harder.

dragonmummy17 · 24/06/2023 20:07

startingoveragainagain · 23/06/2023 17:54

My beautiful home has gone on the market today. We are divorcing and I'll be drastically downsizing. I'm heartbroken I love my home.

I'm sorry, that sounds really hard

dragonmummy17 · 24/06/2023 20:08

We saw a great house today. Needs some things doing (no double glazing) but I still fell in love with it. Desperately hoping for an offer on our house from the viewings today

Rowdythree · 25/06/2023 12:01

Sorry to hear that @startingoveragainagain it sounds really tough.

Hope you get an offer @dragonmummy17

We've got one viewer booked in for this week and one for next week, I hope things pick up a bit more. I really don't want to lose our onward purchase. We were hoping to buy mortgage free if we can sell, but we're investigating getting a mortgage now in order not to lose it. Not the ideal time to be getting a mortgage, but if we can rent our current house out for a while it will soften the blow.