Anyone else putting their home on the market in early 2025?

[newhomein2025]

Just that really - I'm going to be putting my home on the market soon, and hoping to find something to buy too. It's due to divorce, but I'm actually feeling ready to move on and find a wee place just for me and my teenager. I'm slightly dreading the process, and all the associated hassle, and worried that I won't be able to find somewhere I can afford nearby, but excited to start again. Anyone else planning on selling and buying in 2025 and want to keep me company?

Our viewing on Saturday was a bust. They seemed vaguely interested and did say, "Oh wow!" when they walked in (we've got a huge inglenook fireplace in the living room which is pretty spectacular) but I didn't get buying vibes from them. They've not responded to our agents call for feedback so it's a definite no. Apparently they have only just listed their house anyway so weren't proceedable.

We've got another viewing on Saturday (one a week is a lot for us!) and she's in rented after selling her house which sounds very promising. Fingers crossed she loves it. 🤞

@BunnyWilliams we dropped from offers over 375 to offers over 350. We had someone book a viewing within 30 mins so they must have had alerts on for that price band! Our house is well above the average price in our city so we aren’t attracting the average buyer in this location anyway. I’m hoping we get a few more enquires this week too. We’ve seen a house we like and want to view on Saturday. I know it had viewings this weekend just been so hopefully it won’t sell yet, the price on it has been dropped twice already.

I’ve asked the agent to just check the toilet lids are down and open the curtains! I’m annoyed I didn’t just give a quick Hoover on Sunday because there’s a fair bit of dog hair in the lounge but hope they don’t notice.

Promising you’ve got another viewing booked! Fingers crossed

Hi Eastie,

I'm sorry for your loss xx

We'll have the same at some point with MIL's house - there is so much stuff there.

Your house sounds exactly like what I'm looking for. We really want a forever family home, that needs work, so we can make it our own. Don't suppose you're anywhere near Twickenham?? 😉

I have started looking to buy another UK house. My MIL gave us big chunk of money so will have house abroad and here.
So much unsuitable/overpriced stuff!
Went to look tonight at 3 bedder at 700k. Needs new everything, electrics, kitchen, bathroom, garage asbestos removal.
Would need to add bedroom 4. Same house with 4 beds and everything done sold for 850k a few months ago.
Saw one exactly like it last autumn, in better location and garden twice the size for 600k.
This one I would say is worth not much above it. It's probate so told agent it's overpriced (I'm a foreigner so I don't beat around the bush 😂).
Going to see a house tomorrow that ticks ALL the boxes, but it's area we aren't familiar with and close to busy road. So suspect will be noisy. It's on at 750k and I hope it's a good one.
Also going to see 3yo Redrow Heriage built house. It looks beautiful outside. Garden isn't large but facing a protected land across the house and playground is oart of development so hoping kids gravitate to it.
We have two current problems where we live:
a) no kids play together
b) noisy back garden.

So hopefully one of the houses tomorrow is the one!

Hello folks - nice to see some progress for some, but sorry to see hiccups for others.

I’ve hit a small snag and not sure how I’m going to navigate it. My lovely wee flat that I’m buying seems to have been quite a bit overvalued by the Home Report surveyor. In Scotland, you have to commission a HR as part of the selling process, and in there it states the value of the property. So prospective buyers decide what they want to offer based on that. In the offers over system, the property is marketed at a price, usually a little under the HR value, and properties in popular locations usually sell for a bit over the HR value, often quite a bit higher.

So this flat was marketed at offers over £225k, with a HR value of £235K. Based on that, I offered £250k and was the successful bidder. I’m also in a good position as our house is under offer to a cash buyer in rented who are keen to complete.

However, last week my purchasing solicitor said they thought the flat had been over-valued. They advised me to get an independent valuation survey, which came back today. The value they have provided is £220k. So £15k less than the HR valuation that I based my offer on. Hmmm.

Now I’m trying to work out what to do. The obvious thing is to reduce my offer by £15k, right? But I’m very nervous of losing the flat. But I also wouldn’t have offered £250k (£30k over value) if the original HR valuation had been £220k. But I don’t want to lose the flat! Nothing I can afford comes up in this village very often. And my teenager and I are already very emotionally invested. And if I don’t buy it, we’ll have to go into rented, which will cost me at least £10k if it takes me a year to find another flat. And I have dogs so hard to find a rental anyway.

I guess I’ll offer them a reduced offer, but if they say no, I don’t quite know what to do next. Feeling a bit confused. It was all going so well! Grrrrr.

@newhomein2025
Can you afford it? Will it affect your mortgage offer?
If not, go for it as it is. Small difference in long term.

@newhomein2025 that’s disappointing and obviously no one wants to feel that they’re throwing cash at something unnecessarily. Could you explain the reason for reducing your offer and maybe meet in the middle? I suppose it’s weighing up whether the extra money is worth it for the guarantee of getting the flat.

We went for a second viewing of the house we viewed on Saturday. They’ve had 2 offers above asking already. It definitely felt bigger than we remembered although it’s still smaller than the house we’re in. We left pretty sure we would put an offer in but then when we got home it was quite a stark contrast in terms of space. The garden is just not comparable though and it’s a lovely quiet location. I really don’t know what to do. It’s listed at £270K and we’re likely to spend at least £60K making it more suitable. I don’t know whether to just hold out for a house that’s more expensive but already bigger and won’t have the stress of building work. It’s the fear of something better coming along once we’ve offered versus the fear of losing out if we don’t put in a bid. I hate being an adult sometimes 😂

Thanks @BunnyMum2000

Sadly we are about 20 miles away from Twickenham in East London. Are you sure you can't be tempted by the delights of obnoxious hipster bars, jellied eels and gastro pubs in the gentrified East End?😅

The Estate Agent was meant to have taken pictures of the house earlier this week but cancelled with a breezy text message saying there had a been a change of plan and it would be later in the week instead. I did the that English thing of replying politely that it was 'disappointing' to hear that (whilst quietly seething) as I had booked time of work to meet him at the house. He replied oh that's a shame, you don't need to be at the house as your brother gave us a spare key. Not that anyone told me. Is it possible to already be annoyed with the EA before the house is even listed for sale?!

I am reviewing an estate agent contract. Our strategy - list at the price valued, if not reduce at 4 weeks or so then if no offers still pull after 8 weeks.

What is a reasonable contract amount for real estate agent to hold the flat at? 8 weeks? Or ask for a break clause.

Also - our jobs are in a bit dicey position (well they have been for the last 2 years). In case we get to a point that I lose my job, I want the option of pulling out (before exchange of contracts) but without agent charging their fees.

How do we ask for this in the contract?

Thanks

ohhhh @Eastie77Returns we are looking for a 3-4 bed in east London! Whereabouts is it? And yes we got annoyed with our estate agents before we even went on the market, it seems to be going ok now though. We have used them before too so knew they could do a decent job. As I was reminded on other threads half their job is also keeping the chain together which I couldn’t fault ours on last time so have stuck with them.

@newhomein2025 that sounds very difficult when you don’t want to lose the flat. I don’t know how the Scottish system works and if they would be reluctant to go back to market now but could you offer to split the difference, i.e knock off £7.5k?

We had a viewing yesterday (meant to have 2, one cancelled but may reschedule for next week) but the viewing we did have went very well and they have booked a second viewing for Friday. We also have a first viewing on Friday too so things are really picking up since we dropped price. Agent also asking for availability next week as I think other enquiries have come in. We are in London looking at houses this weekend. Hoping the stars align and we find our dream house same time as someone buys ours!

@Pred02 we are locked in for zero weeks (ie can leave agent without penalty at any time). That seems to be what several good agents here are offering as proof of their confidence in their abilities. I’d ask around other agencies if they’re not willing to do that.

@newhomein2025 if it had been valued at 220 do you think you would have been bidding against more people and ended up paying a similar amount anyway? I think it’s the main downside of the BAFO system that if you fall in love with a place that’s generating a lot of interest it’s easy to overpay but the valuations don’t take into account that you need to win the bidding!

It’s not going well here - our buyer pulled out and our offer was rejected, although that wasn’t surprising. They didn’t give a proper counter offer either, they just said they already thought the asking price was good value for money - except it clearly isn’t otherwise it wouldn’t have been on the market for 9 months already! Even the agent told me he thought asking price was delusional. We’ve got a lot more to view over the weekend so not the end of the world if we don’t get it but it does have the best location.

One step at a time @newhomein2025

Explain what has happened to your vendors and suggest that you meet in the middle of what the independent valuation says and the price you have agreed. They may be willing to negotiate. See what they say and take it from there.

@newhomein2025 I agree, speak to the vendors and see what they say and take it from there. They might be understanding and come back with something and you don't know unless you ask. Also you don't know what their other offers were do you? So it might be that the one below you was nearer that split so they would accept slightly less than go through the hassle of re-listing. It's difficult because part of me thinks why would you buy over what it's worth but equally surely what it's worth is what people are willing to pay and people including you were obviously willing to pay over as there was interest from others as well. If you're going to stay a while, love it and not many come up there and you were happy with the price at the time, I would be tempted to continue if they won't drop the price but I would definitely try first.

Sorry pressed post too early.

@ampel sorry it's all fallen through for you, I hope something comes up soon. EAs must get so frustrated with people that won't accept their house isn't worth what they want to get for it, feels like a waste of time for them!

@Pred02 we had no tie in to our EA so could leave at any time. They sell more houses than any other EA in our area, so that is probably why. I thought the payment was upon the house selling not just agreeing an offer?

The house is in Hackney. I also used this EA when I sold my flat a few years ago and they were great so decided to go with them again. My flat listing went live on a Wednesday evening and they had 10 viewings booked the following morning. Sold over asking within a week to a FTB.

Unfortunately I’m not sure it will be such smooth sailing this time but if you are interested in taking on a bit of a wreck let me know and I’ll point you to the listing whenever the EA deigns to start doing his job😂

Our EA called asking if we can leave 'an appliance' for buyer rather than sell. Otherwise they will have to renegotiate a price.
I wouldn't mind leaving it but am now concerned because EA said they have quite tight finances etc.
So, I'm now wondering if they even have a mortgage secured?
Would my solicitor know?
They did have survey BUT it wasn't from mortgage company. Do valuation surveys that banks do mean just 'drive by' or do they actually turn up?
Thanks

My son bought an item for a few hundred and it was added to the completion statement separately and had no effect on his mortgage?

Is this item integral?

My son's mortgage valuation didn't go in the house. Presumably they sometimes do as they sent a message to the broker saying they wouldn't need too. My assumption is they can drive by and see quite a bit from Google streetview and satellite nowadays. Plus they have access to sold prices.

His own surveyor did of course visit the property

@Feelingstrange2 the feeling I got was that my buyer can't afford washing machine. Which makes me worried as they are buying our fairly expensive house. Thanks

The EA should have checked that they have a mortgage decision in principle in place before you accept an offer? Then the full mortgage application is made once the offer is accepted, solicitors instructed etc. I guess finances could be tight if it's right at the top of budget, but washing machines aren't that expensive if they'll be paying out for conveyancing, moving costs etc so it does seem odd! 🤔

Not sure why it is odd. It is entirely feasible that people have pinched pennies to save deposits and have clean credit files for a mortgage and are saving on absolutely every other front. We have a spreadsheet running for selling a house at 510k and buying at 800k, and whilst these are largish numbers, we absolutely would not deride an offer of an appliance to save us a couple hundred quid! I mean my spreadsheet for the move has every little thing budgeted in including a takeaways in week 1 of new house sitting amidst boxes - category! :D

yes we are thinking about putting ours on this year but not sure about the market, have seen some lovely properties which at the moment until we start to put ours on it doesnt really seem yet worth going to visit, what do you think? Also not sure what the housing prices are up to at the moment, seems quite confusing.🤔

I am not sure any estate agents would be taking people to view properties when their own is not even on the market.

@seaside123 they had MIP but that doesn't realky mean anything as numbers can be easily fudged on them.
Going to check with lawyer to see what is happening to the mortgage.

@movinghomes

The way agent worded it was that they will have to renegotiate their offer if we don't include the appliance.
Also said that they might have some financial issues.

Went to see the possible 'dream house'..
Proper solid house, nice garden, although smaller than in photos.
Noise levels were ok. The house didn't feel much bigger than mine (ours is 120, this one was 160).
So I got home and calculated square metres and floor plan is wrong. The house is 140 at most.
We like it but expected much bigger from photos/floorplan.