No viewings

[Ellena646]

Hi, we have been on the market for four weeks and not had one viewing. The agent just keeps repeating "It's August, very quiet" on a loop, although we are now in September. Just wondering if anyone else is experiencing the same thing. Not sure if it's the agent, the market, the price... Never been on the market and had zero viewings in the first month before...

I would make it clear to them that you haven't found an onward purchase yet and suggest that they may therefore want to wait. If they choose to go ahead, that is their choice and you have been fully honest with them.

I think I have always waited until my purchase vendor has found a house before doing a survey... It does show they are serious but in the current slow and thin on the ground market, it feels like I might need to have that conversation with them.

Some sellers purchase the buyers survey after an aborted sale. It could then be used as a positive selling point, assuming it's not too deprecating.

Exactly. A conversation with them sounds like the best plan. Make it clear that you are committed to selling but they may want to wait until the chain is complete. If they want to go ahead anyway, it's up to them.
Are they in a rental/ selling a home/ living with family? It may make a difference to how long they are prepared to wait.

They are in rented. A friend just warned me that she had to take her house off the market because there was not enough out there to look at, and her buyer tried to go after her for solicitor and survey costs... Is that a thing? I'm a bit worried that things won't pick up again until the Spring, and I can't really control that. This might be my last move so I don't want to rush into the wrong place.

It's absolutely a thing! It costs hundreds/thousands to pay solicitors and for surveys. You still pay legal fees even if your sale falls through, they won't work for free. So if someone pulls out when you've got that far it's very unfair and costly.

@Ellena646 that's why I suggested being honest with them so that they don't incur costs without the full facts. They wouldn't be able to chase you for costs if, for example, you kept them waiting for 6 months. It's good that they are in rented though as they can hopefully be more flexible.

I would get really fed up with people expecting you to start sales process and incurring costs who aren't committed to moving - I think it's better to be 100% honest with all parties including the agent in this situation-

I am committed to moving, but there is so little on the market and what is there is out of my price range. I will write a letter explaining the situation from my POV for clarity and suggest that they hold off with solicitors/surveys until I have found a property.

I wouldn't worry too much to be honest, I know it might feel like the purchase will happen too rapidly at this stage if they’re getting a survey booked in, but the conveyancing process always takes a long time (4-6 months at the moment I’ve heard!) plus if something is revealed on their survey they might try to price chip or even back out of the purchase. You’ll be able to delay a date for exchange until you’ve found somewhere so I’d be minded to go ahead and let them do their survey and get the process started. You don’t want to risk losing the buyer. You could buy insurance for your solicitors costs or go with a no sale/purchase no fee solicitor if you’re worried about that side?

It’s not a thing … your friends buyers may have tried to go after her for the costs they incurred but they would not have been successful (unless she chose to give them money because she felt guilty but legally it can’t be enforced. If in doubt ask your solicitor).

Yes, all important points: the conveyancing does take a fair while. I've written an email to my EA today asking him to pass on to the buyer that I am not suited yet and although I'm happy for them to go ahead with their survey, they do so on the understanding that properties in my search criteria are currently thin on the ground, and that I will not be able to go into a rental to meet any deadlines. I've copied in my solicitor. Feel much better after hitting the send button, thanks everyone!

Ellena646
If todays news on the BBC is anything to go by things are on the up for sellers!!
So I assume your buyer will hear this news and feel lucky they may have a bargain on their purchase price before things pick up. Plus more houses may come to the market for you as this will give sellers more confidence to sell. Here is the rundown of what the news said:

BBC news today: House price growth at near two-year high
UK house prices in September rose by 3.2% compared with a year ago - the fastest rate for nearly two years, according to Nationwide.
The building society said that annual growth was the highest since November 2022, with terraced homes driving the increase.
It said rising incomes and mortgage rate cuts were improving affordability for buyers. Separate data from the Bank of England also showed mortgage approvals at their highest level for two years.
House prices have been relatively stagnant in the last year, as activity in the UK housing market has been limited.
But many commentators suggest, with interest rates expected to fall, demand from buyers could now pick up’’

@Ellena646 that's exactly what I would do lovely

In my experience of a buyer pulling out on us as sellers and then a seller pulling out on us as buyers it’s much more expensive in terms of legal fees if your buyer pulls out. About double I think it was. So if you advise them to hold off with the survey, then they won’t actually incur too much cost. Where we lost money as jilted buyers was on surveys.

Not sure if anyone else posted as not read the whole thread but re stamp duty it's not just first time buyers affected as below.

The nil rate threshold which is currently £250,000 will return to the previous level of £125,000.

Don't expect them to stop looking at other properties, and do not be surprised, annoyed, or upset if they withdraw their offer in a few weeks because they've found somewhere else.

This.

It's not the wisest strategy to stop your buyers spending money on a property you want them to be committed to buying.

Honourable yes but not necessarily advisable unless OP doesn't mind potentially losing their buyer by raising doubts.

The EA called today and we agreed they would just say I hadn't found anywhere yet. The buyers are fine with it and going ahead with the survey.

I think that's a good compromise. They obviously like your house and you have been honest with them so they are much less likely to blame you if things don't work out, as sometimes happens.
If I were trying to buy, a seller trying to encourage me to spend lots of my money to show commitment when they had spent none would be very off putting. As a seller, I think honesty is the best policy because the UK housing market is so dependent on trust and sales can easily fall through if this is broken.

Drop the price.

We had no interest on ours for a while, dropped the price and a steady flurry of viewings. Agree, it’s usually always the price.

She did already, quite substantially, so now has an offer.

I think you are right about honesty. They are so excited about my place; it's really quite infectious in that they are so keen but not in a grumpy way... they just can't wait to move in (newlyweds!). Their enthusiasm is kind of rubbing off on me... pay it forward and all that!

They sound really sweet. I hope you are able to complete your chain and complete your transaction.