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It's NYD - am I ever going to move?!

1 reply

prayforthecottransfer · 01/01/2024 14:48

First listed on the market late 2022 and managed to sell in April for only £5k under asking price. Chain of 5. All went ticking along nicely until September. We were all nearly at the point of exchange and the house we were buying (end of chain) pulled out with no explanation. We'd negotiated 30k under asking for theirs.

Our buyers still wanted to purchase ours but then lost their buyer. They still hoped to buy ours but they're now 50k under what they originally sold for and still unable to sell. Basically, they can no longer afford ours so we will be going back on the market.

No decent houses for us to buy (where the owners aren't dreaming in price) and I'm so anxious about heading back on the market. It's so disheartening to clean up for one, pointless viewing when you have two kids and a pet!

Any success stories needed please! We absolutely have to move this year due to applying for dd's school place in December and both our jobs depend on relocation. It's very stressful and now it feels like we're completely on the clock. Can't sell and move into rented because we have 3 more years on a 1% fixed rate and it'd be criminal to lose that!

OP posts:
DavidOpines · 01/01/2024 18:43

Very likely to be some pickup in volume over the next few months as expectations of rate falls are widespread, belief is key when there is a lot of leveraged debt involved, even small losses are magnified.

However, the era of negative real rates is likely over and the experiment of the last 20 years that resulted in the greatest transfer of wealth in history explodes in a magnificent 'clusterfuck'.

Or they decide to screw everyone via CPI inflation, which is possible! Good job, central banks.

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