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  • FIRST POST
    • fudge7000
    • By fudge7000 1st May 16, 7:23 PM
    • 179Posts
    • 523Thanks
    fudge7000
    Waiting for a buyer... Anyone want to join me?
    • #1
    • 1st May 16, 7:23 PM
    Waiting for a buyer... Anyone want to join me? 1st May 16 at 7:23 PM
    Anyone else out there selling and going through trying to keep the house tidy 24/7 so it doesn't take hours to sort out when there's a viewing?!
    Along with trying to second guess what the people viewing will do/offer/not offer...?

    Only been for sale a week, I assume it just gets worse from here on in?

    Not really done this before so thought I'd see if anyone else is in the same boat!
    First win (October) - Apple Ipod off a radio competition
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Page 111
    • Natbag
    • By Natbag 14th Sep 17, 8:26 PM
    • 1,162 Posts
    • 801 Thanks
    Natbag
    Natbag......what is your EA doing.

    Hint........not earning their commission.

    They are supposed to be working for you therefore it is incumbent upon them to delve into the why's and wherefores of that valuation report and then give you the benefit of their professional advice.

    They are supposed to be the go between. They are the ones who should be doing the negotiating on your behalf and to do that this means getting to grips with what was in that surveyors report. As it is they are letting a sale slip through their fingers without making any real attempt to resolve the issues that have dogged this transaction.

    They are just hoping another buyer falls into their lap. That's just not good enough.

    You really need to know why your house was down valued. Yes it could just be a "picky lender" but you dont know that. If that's the case then why aren't they looking at another lender. They will have a panel of mortgage brokers they can call on.

    However, If it is an issue with your house then you will need to either fix the problem or rethink your asking price to reflect any work that needs to be done. Otherwise you could find yourself in exactly the same position next time someone makes an offer and this could just drag on and on.

    I don't know about crossing fingers, I think you need to stamp your foot and make your EA do the job you are paying them to do.
    Originally posted by lessonlearned
    It seemed to be simply an issue with valuation compared to other nearby properties, from what was said - others on our street have sold quickly for the same price, one had a garage and one a conservatory though. No new kitchen and bathroom like ours. There's also a property for sale nearby, same house, but in need of some updating, not well presented, and it's on at £15k less (or £10k less than our reduced price). So all these things didn't help.
    To be fair, other than that one thing they've done a lot, they appealed the valuer's decision and have been great at negotiating with our buyer and our seller. They convinced our seller to give us a grace period to find a new buyer and then reduce the agreed sale price by £3k to help us close the gap. They've been very pro-active in marketing the house again, securing viewings, and been in touch with us every day to update us. They agreed a reduced fee with us and so far they have been worth their cost.
    • Natbag
    • By Natbag 14th Sep 17, 8:37 PM
    • 1,162 Posts
    • 801 Thanks
    Natbag
    "I can't afford the next house I want to buy" is not a legitimate reason to demand over the odds for the house you are selling.
    It's worth what a bank's willing to lend on it and clearly this does not reach your asking price, which it seems was aspirational.
    You are simply wasting people's time by not accepting an offer that's equal to this valuation, and wasting any money they've spent so far too.
    Time to get real I'm afraid.
    Originally posted by juniordoc
    We set our for sale price based on three estate agents' valuations (it was actually the lower of the three) and recent sales of similar properties in the neighbourhood, plus and the fact we had a buyer give us the full asking price within two days suggested all that we could afford it. We based our figures based on the advice of professionals, who we trusted knew more about the market than we did. Also, we did not know that we were almost at the top end of what our lender would loan to us as this wasn't disclosed until yesterday and we were not to know what a lender would value our property at until a buyer was in place to commission a survey. I don't own a crystal ball, so perhaps that's a little unfair?

    If 10 or 20k off the price affects your move, you shouldn`t be moving IMO.
    Originally posted by Crashy Time
    I appreciate that. Maybe on a £350k house we would have expected to need that kind of buffer, but not on one listed at £145-£150k. We can cope with a small gap, but not £10k, that was beyond what we could ever have forseen. We paid £140k for the house 9 years ago and have spent a lot more on it than £5k-£10k, plus other homes in the neighbourhood have increased in value since then with having had little or no work done. With all the above in mind it really wasn't that unrealistic an expectation. You live and learn eh?!
    • Natbag
    • By Natbag 14th Sep 17, 8:38 PM
    • 1,162 Posts
    • 801 Thanks
    Natbag
    Had our open day last Saturday, and got an offer from a cash buyer today who hasn't even seen the property and offered £40k less than the asking price. Even the estate agent thought they were being cheeky and not serious, so we said No. Two of the people from the open day have arranged second viewings, and we have a new first viewing booked as well, so feeling optimistic.
    Originally posted by Tiglath
    That's crazy, even to offer so little who would look to spend so much money on a property they hadn't even seen? I'd be worried that not having seen it they'd be more likely to pull out.
    Good luck with the viewings, it sounds optimistic and I hope you get a satisfactory offer from at least one
    • Natbag
    • By Natbag 14th Sep 17, 8:54 PM
    • 1,162 Posts
    • 801 Thanks
    Natbag
    Ok, update from me:
    We had a viewing this evening, a really lovely young FTB couple looking to move to the area with a deposit and mortgage already in place and ready to go. They had seen 6 other properties that day and spent ages in our house being shown round, then looking round themselves, asking lots of questions and generally seeming quite positive. As we were stood chatting towards the end of the viewing they said they loved it, couldn't find a single fault and wanted to buy it, and we agreed a sale at the new asking price. Our EA has just called to confirm it an now it's just a waiting game to see if the valuation comes back ok at the reduced price, or at least with a smaller gap that we can close. We did have another viewing arranged for tomorrow, who I thought would have been the keener out of the two, but tomorrow was the deadline for the house we want going back on the market so this has come just in the nick of time. I know we're not home and dry yet, as they say, but to clear this hurdle is such a relief.
    • lessonlearned
    • By lessonlearned 14th Sep 17, 9:15 PM
    • 10,132 Posts
    • 57,016 Thanks
    lessonlearned
    Sounds promising. Hope all goes well.
    • Crashy Time
    • By Crashy Time 14th Sep 17, 9:17 PM
    • 5,223 Posts
    • 2,204 Thanks
    Crashy Time
    We set our for sale price based on three estate agents' valuations (it was actually the lower of the three) and recent sales of similar properties in the neighbourhood, plus and the fact we had a buyer give us the full asking price within two days suggested all that we could afford it. We based our figures based on the advice of professionals, who we trusted knew more about the market than we did. Also, we did not know that we were almost at the top end of what our lender would loan to us as this wasn't disclosed until yesterday and we were not to know what a lender would value our property at until a buyer was in place to commission a survey. I don't own a crystal ball, so perhaps that's a little unfair?



    I appreciate that. Maybe on a £350k house we would have expected to need that kind of buffer, but not on one listed at £145-£150k. We can cope with a small gap, but not £10k, that was beyond what we could ever have forseen. We paid £140k for the house 9 years ago and have spent a lot more on it than £5k-£10k, plus other homes in the neighbourhood have increased in value since then with having had little or no work done. With all the above in mind it really wasn't that unrealistic an expectation. You live and learn eh?!
    Originally posted by Natbag

    Fair enough, but you have had the benefit of near zero interest rates over those 9 years to pay down any mortgage you might have had just so that you could take a little hit on the price if you wanted to move on? Mortgage holders/Owners can`t have it all ways, you can`t have the market bailed out with zero rates to keep prices up plus expect your house to increase in value AND expect buyers now to come up with the price you need for your next move! Something has to give.
    • Crashy Time
    • By Crashy Time 14th Sep 17, 9:25 PM
    • 5,223 Posts
    • 2,204 Thanks
    Crashy Time
    No, I didn't mean it like that. They have rearranged both their viewings a couple of times and I just have a feeling that they don't have any genuine intention/ability to make an offer. I may be completely wrong. Your comment about the first person to walk through the door buying it after a quick glance round is ridiculous, obviously I've stated that I've been on for weeks and had lots of viewings.

    I'm surprised you're even taking part in this thread Crashy, considering your disdain for anyone who is interested in buying and selling properties, and you certainly aren't waiting for a buyer considering all your other posts.
    Originally posted by kates08

    It is not disdain for people wishing to buy and sell, it is disdain for the central banks and the investment banks and how they view the public as debt slaves to manipulate for the sake of a debt based money system (and tasty bonuses for bankers)
    The low rates were a lifeline (a very long one) for debt/mortgage holders, all I am saying is don`t mess about over a few thousand if someone makes an offer that may be less than you expected.
    • Natbag
    • By Natbag 14th Sep 17, 9:38 PM
    • 1,162 Posts
    • 801 Thanks
    Natbag
    Fair enough, but you have had the benefit of near zero interest rates over those 9 years to pay down any mortgage you might have had just so that you could take a little hit on the price if you wanted to move on? Mortgage holders/Owners can`t have it all ways, you can`t have the market bailed out with zero rates to keep prices up plus expect your house to increase in value AND expect buyers now to come up with the price you need for your next move! Something has to give.
    Originally posted by Crashy Time
    Well yes, you make a good point. I'm glad we got on the housing market back when house prices were probably half of what they are now. We are lucky to have gained some equity and reduced our mortgage term along the way - FTB nowadays must really struggle and I do sympathise.
    • Tiglath
    • By Tiglath 15th Sep 17, 7:24 PM
    • 3,485 Posts
    • 11,334 Thanks
    Tiglath
    Two first viewings tonight, neither of which I think will put in an offer. A first and a second tomorrow (have high hopes for the second), a first Monday and a second Wednesday (another possible). I'm glad there's interest even after the open day was done.
    "Those are synapses, electric impulses in the brain that carry all the messages. Somewhere in all that organic wiring, all those ripples of light, is you — the thing that makes you unique and human." ~ Dr. Jenner, The Walking Dead
    • Natbag
    • By Natbag 16th Sep 17, 12:03 AM
    • 1,162 Posts
    • 801 Thanks
    Natbag
    That's a good amount of serious interest Tiglath, best of luck!
    • mattcafc
    • By mattcafc 1st Oct 17, 9:04 PM
    • 59 Posts
    • 6 Thanks
    mattcafc
    Apartment has been on for 18 days and only had 1 viewer. Selling with PurpleBricks and can see with their analytics that our advert ha been viewed 895 times on Right Move and 271 of them were in the last 7 days.
    Had better photos taken last week, but still not more bookings.

    Horrible waiting game as we have found a house we like, but don't want to make an offer until ours has got more interest/sold/
    • Crashy Time
    • By Crashy Time 2nd Oct 17, 10:33 AM
    • 5,223 Posts
    • 2,204 Thanks
    Crashy Time
    Well yes, you make a good point. I'm glad we got on the housing market back when house prices were probably half of what they are now. We are lucky to have gained some equity and reduced our mortgage term along the way - FTB nowadays must really struggle and I do sympathise.
    Originally posted by Natbag

    My sympathy is with the simple souls who thought that their bungalow was worth about ten times what they paid, and that this was all perfectly normal, they have a massive shock coming.
    • Slinky
    • By Slinky 4th Oct 17, 2:02 PM
    • 4,685 Posts
    • 20,226 Thanks
    Slinky
    The place we offered 96% of the asking price a couple of weeks ago still hasn't sold - has been up for a month now. The agent has phoned us a couple of times asking how we're getting on. I keep telling him we're not inclined to offer any more.

    The vendor did tell us they'd offered on a place the night before we viewed, which is a bit stupid considering they hadn't sold their own place (we think they'd had another offer at that point from somebody with a chain which has now got problems), they could perhaps have negotiated a lower offer on the one they want to be able to accept our offer.

    Ho hum, our interest in this property is waning a little now - whilst we like it, it's not without issues.
    Originally posted by Slinky
    Have just checked on RM sold prices. The house we offered on in June last year completed in July this year, for the price we offered in June last year and was rejected.

    We re-viewed it just before Christmas, but didn't feel the love anymore.

    Meanwhile we've just completed elsewhere in a different town.
    • Crashy Time
    • By Crashy Time 4th Oct 17, 2:19 PM
    • 5,223 Posts
    • 2,204 Thanks
    Crashy Time
    Have just checked on RM sold prices. The house we offered on in June last year completed in July this year, for the price we offered in June last year and was rejected.

    We re-viewed it just before Christmas, but didn't feel the love anymore.

    Meanwhile we've just completed elsewhere in a different town.
    Originally posted by Slinky

    So a years stress just to get what they were offered a year ago They are lucky they didn`t get less.
    • Akahotpot
    • By Akahotpot 4th Oct 17, 3:41 PM
    • 67 Posts
    • 32 Thanks
    Akahotpot
    Spoke to a local EA and they convinced me to put back on the market with them
    3 viewing on the first weekend and a cash offer 3k under my asking price
    Went to the guy I am buying from and asked if he would drop his asking price 1k to get the chain moving and he agreed
    So decided bird in the bush and accepted the offer ....thanks everyone and good luck hopefully thats it for me.
    Off to the waiting to exchange post
    Last edited by Akahotpot; 04-10-2017 at 3:44 PM. Reason: Bad grammar
    • chrissie83
    • By chrissie83 5th Oct 17, 9:48 AM
    • 68 Posts
    • 80 Thanks
    chrissie83
    Just been catching up with how everyone is getting on in here.

    We had a viewing on Monday night- a father & son. Both were lovely & spent ages looking round. He asked me to go round with him & asked lots of questions. As he went he thanked me & said he loved it. On Tuesday he rang the estate agent to book a second viewing for Saturday, he asked if it was ok to bring his wife & if they could be left alone with just the estate agent ( was me & the 3 kids the other day) anyone else had that?
    • Slinky
    • By Slinky 5th Oct 17, 10:37 AM
    • 4,685 Posts
    • 20,226 Thanks
    Slinky
    he asked if it was ok to bring his wife & if they could be left alone with just the estate agent ( was me & the 3 kids the other day) anyone else had that?
    Originally posted by chrissie83
    No, but I can understand why. You can be a lot more open about things you like/dislike/want to change etc without the owner hovering around in the background/foreground
    • Surrey_EA
    • By Surrey_EA 5th Oct 17, 11:23 AM
    • 1,235 Posts
    • 1,450 Thanks
    Surrey_EA
    he asked if it was ok to bring his wife & if they could be left alone with just the estate agent ( was me & the 3 kids the other day) anyone else had that?
    Originally posted by chrissie83
    Perfectly normal.
    I think it's best if the property owner is not present at the viewing, allowing prospective buyers to discuss the property freely, without fear of offending the present owner.
    • chrissie83
    • By chrissie83 8th Oct 17, 6:13 PM
    • 68 Posts
    • 80 Thanks
    chrissie83
    Thank you both.
    They came back yesterday & put an offer in last night 6k below asking price. We are going to see the mortgage advisor hopefully tomorrow to see if the numbers add up. This is very stressful!
    Hope everyone else is getting on ok, it's very quiet in here
    • Tiglath
    • By Tiglath 9th Oct 17, 8:16 PM
    • 3,485 Posts
    • 11,334 Thanks
    Tiglath
    Received an offer on our house. It's less than we were hoping for on the mortgage in principle agreement, so I'm speaking to the bank tomorrow. If all goes well, we'll accept the offer and go for the official mortgage application. Ours is a cash buyer, and the guy we're buying from is buying a property that has no onward chain, so hopefully it won't be too complicated.
    "Those are synapses, electric impulses in the brain that carry all the messages. Somewhere in all that organic wiring, all those ripples of light, is you — the thing that makes you unique and human." ~ Dr. Jenner, The Walking Dead
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