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Cold feet
skiTTish
Posts: 1,385 Forumite
Is this normal ?!?! 
We are just about to exchange on a house and am getting 'cold feet'
Think its partly down to all the doom and gloom merchants that post here giving me the heebie jeebies ,worrying about all the things that could go wrong ,leaving us being repossesed..........
Worrying house prices could drastically fall leaving us with neg eq ........
We should be excited but instead feel ill ....:(
We are just about to exchange on a house and am getting 'cold feet'
Think its partly down to all the doom and gloom merchants that post here giving me the heebie jeebies ,worrying about all the things that could go wrong ,leaving us being repossesed..........
Worrying house prices could drastically fall leaving us with neg eq ........
We should be excited but instead feel ill ....:(
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Comments
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All as I would expect with your emotions and it happnes with many people. This is a cut and paste covering a similar question some time ago and which may help you.
From my point of view, as a past agent, many sales that go wrong are not a surprise to us or the seller. However we always find the sellers are elated when the sale is first agreed but then slowly but very very surely start getting more and more paranoid.
This is at its worst in the period just before an exchange of contracts when some sellers imagine every negative reason you can think of for it to go wrong. I've had sellers tell me very confidently how they know it will go wrong as they instinct is always right to find later in the same day contracts are exchanged.
I feel that it is important, for sellers and buyers, to talk regularly, after the 'agree to buy' stage, as it does offer both parties a mutual support that doesn't happen through agents or solicitors contact alone.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
I must admit I was tempted in recent weeks by alternative properties requiring a lot less work and financial input from us.
However, I also recognise this as normal, just like pre-nuptual nerves. (though I only had that on behalf of my best friend, and we're both still married to the same ladies, well over 25 years hence!)0 -
I wouldn't let negative equity worry me. It only becomes a concern if you feel you'll want to move in the next couple of years or so. If you are buying a home where you want to settle down for the forseeable future then it shouldn't come into the equation.
The worry about being repossessed is probably quite understandable in the current climate, but if you haven't overstretched yourself financially & have a bit of a financial cushion to tide you over for a few months should hard times hit, then put it out of your mind & try to look foward to your new home.
If you really don't feel comfortable about going ahead then pull out now for everybodies sake.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
I know exactly how you are feeling, as the sellers we are so nervous as the valuation was done nearly 3wks ago, but not alot has happened since then, so I've started worrying that there is a problem with our buyers mortgage or something, even though our buyer came round last week to do some measuring and she said that the mortgage was all sorted but they were just waiting for the offer through the post and as buyers, I'm worrying about pretty much everything lol 0
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All as I would expect with your emotions and it happnes with many people. This is a cut and paste covering a similar question some time ago and which may help you.
From my point of view, as a past agent, many sales that go wrong are not a surprise to us or the seller. However we always find the sellers are elated when the sale is first agreed but then slowly but very very surely start getting more and more paranoid.
This is at its worst in the period just before an exchange of contracts when some sellers imagine every negative reason you can think of for it to go wrong. I've had sellers tell me very confidently how they know it will go wrong as they instinct is always right to find later in the same day contracts are exchanged.
I feel that it is important, for sellers and buyers, to talk regularly, after the 'agree to buy' stage, as it does offer both parties a mutual support that doesn't happen through agents or solicitors contact alone.
I agree with the above but how often does the seller and buyer actually communicate? One of the most frustrating things about buying/selling a house is having to go through a third party all the time.0 -
Romani_Ite_Domum wrote: »I agree with the above but how often does the seller and buyer actually communicate? One of the most frustrating things about buying/selling a house is having to go through a third party all the time.
I am appalled at the attitude of some EA's who seem to think it is wrong for seller and buyer to speak to each other at all. They seem to think it may !!!! up the sale!!!!
Being very very clear the EA is as they are called 'agents' doing things on behalf of the cleint and is not there with 'power of attorny' taking all decisions for their clients.
I am all for the two of them talking direct but respect at times where one, or even both sides, do not want to deal direct and only through a third party.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
This is how I'm feeling too
I keep reading how little people are paying and how prices will fall and I feel so scared.
I love the place but as a first buy I am totally clueless. I rely totally on the survey and evaluation - never felt so helpless.
Prices of other properties on the road are considerably cheaper (fair enough they are not comparable as they are not listed / character builds) but still I'm paying a lot more for this than other '2 beds'.
C*F0 -
OP - if there is one thing you can guarantee it's that NOBODY on this board knows !!!!!! from shinola when it comes to what the house prices will be doing in a year's time, 5 years time or 10 years time. Not even the experts can agree!
You'll get those who predict huge rises because that's what they want and you'll get those who predict continuing falls because that's what they want.
If this is the house you want and you think you are paying a fair price for it and can see yourself still happily living there in 5 years time, go ahead and buy it.“Don't do it! Stay away from your potential. You'll mess it up, it's potential, leave it. Anyway, it's like your bank balance - you always have a lot less than you think.”
― Dylan Moran0 -
Welshwoofs wrote: »OP - if there is one thing you can guarantee it's that NOBODY on this board knows !!!!!! from shinola when it comes to what the house prices will be doing in a year's time, 5 years time or 10 years time. Not even the experts can agree!
Yup, and here's the proof:
http://forums.moneysavingexpert.com/showthread.html?t=19297890 -
Write a big list of pros and cons. Get all your worries down on paper. Have a serious think if you've not commited yourself beyond the legal point of no return.0
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