To those selling in these difficult times

Davesnave

pawpurrs wrote: »

Feel so low. Hopefully some one else will want it.

They will, but as Debras Angel is saying, things seem to work out when they are 'right' for us and, while there is no scientific, or even a religious reason why this should be, it frequently happens that a set-back steers us somewhere better. Somebody is out there who's going to really appreciate what your house offers, but maybe they're not looking yet.

For example, ten months ago, when we had our first buyer, we found a property which ticked many boxes, but now I'm relieved our sale fell through because, as it turned out, we'd have paid £45k over the odds for it, and I know, deep down, it was just the least worst option at the time. We'd have been OK there, but it wasn't quite right, and the things that were wrong were immutable.

So, you losing your buyer today is a bit like us with our 3 couples who all want this place and can't sell theirs, while others, sold and with their finances in place, walk away and buy something else. It isn't happening, even when you'd think it should be, but while it is all very frustrating, nay depressing, we will eventually know what all the waiting was about.

puddy

Hi, just found this thread today, I was reading this forum months ago but stopped because I was so depressed about putting my flat on the market. I put it on in mid June with an internet estate agent, valued initially at 240k put it on at 235k, dropped to 225k now have just signed up with high street estate agent at 210 (to accept 200). I have not had one viewing at all since mid June. Hopefully high street estate agent will change things for me.

I keep seeing houses I want to view but dont want to because I dont want to see something that I really want but cant make an offer on. I have viewd one property and really like it but cant go for for a second viewing because I havent got a buyer for mine... oh dear

Nikki

Been reading this thread for a while and thought I'd add my selling trauma too. Been on the market since Feb, had a few viewings, got a buyer, chain collapsed, 4 weeks later chain fixed, 2 weeks later it collapsed again! Dropped the price by 60k to date and are now priced at the same level as 2 bed (tiny) new builds in our village -our is 3 bed 3 reception. Had 6 viewings this week!! Which is a miracle, but they all seem to be time wasters, we've had 2 that hadn't even put their houses on the market yet and 3 that wanted something my house blatantly doesn't have - so why look and waste everyones time. If we could hold off the move I'd give up and stay put.

lisa-loves-cats

Do it today.... you have my complete sympathy, I am also heavily pregnant, first baba due in 3 weeks!!!!!!!!!!!!!!!!!!!! we are re-locating our business in 2 weeks time now regardless of a sale and moving in with my parents. we are on the cusp of dropping our asking price, yet again, which will bring us to offers under the stamp duty threshold, this will make our property one of the lowest, and it is in immaculate condition! Plus it will be vacant and chain free, I hope this recipe will secure us a sale, but................ if the banks aren't lending, how on earth can any of us make a sale??????????????

Pawpurrs.... I am so sorry!!!!!!!!!!!!!!!!!!!!

wow, everybody is really adding to this thread now, it's so useful in some ways to know that it's nothing any of us are doing wrong.

Getting information out of EA's can be like getting blood out of a stone, and let's be honest, if they knew what was going to happen to the market in the last ? months, wouldn't they have told us to market our properties at a much lower price to begin with, to secure that sale? Which would probably also have been a lot higher than what we are all on the market for now.

I spoke to the agents for the property we want to buy yesterday, apparently somebody else has put in an offer on it and their vendor had instructed them to tell me what offer they would accept.... £305,000......... I was gobsmacked, surely this is WAY to high in the current market?

They were originally on the market at a very price guide range of £300-£350,000, which then dropped to offers over £308,000.

The property needs a lot of work, has a terrible layout (which makes is all the more appealing to us) but most importantly sits on a third of an acre.... veggie patch and animals please!!!!!!

postcode is TN15 6LG, I have done my own research on sold prices/etc in the area but any other opinions/advice on what a realistic offer/price would be greatly appreciated

Davesnave

Sure is a strange layout Lisa, and the agent's details don't do them any favours either, but there is obvious potential there and a good location.
'Fraid I have no idea of values in your area, but on your side is the fact that people seem more reluctant now to take on any kind of refurbishment, so the offer they hold may be some way from what they want.

pawpurrs

Sevenoakes area is very expensive, so in light of that it doesnt actually seem that much to me for a detached house with so much garden
You must like Bungalows lisa?

Feeling more devastated today than yesterday, I thought it was all coming together, and feel so angry with my buyer :mad:

I have never pulled out of a sale, I just dont get why people mess around like that.

mishmash

Very sorry Pawpurrs, hope another buyer comes soon for you. I lived with my parents for a while a few years back, and never again.

I am in a bit of a dilema regardng what to do. My house and OH house both up. I have had loads of interest and offers but from people who have not sold. OH has only had 1 viewing. We don't need to move, but we want to.

We want to move in together, we would like to do this in a new house together rather than extending mine, we want to move to the nicer side of my area, nearer my family and in the encathment area for the best school for the little one. We managed to get her into the Nursery, but when these places reduce by half in reception she will not get in if we are not in the encatchment area. It would also be nearer to my big kids friends (so not as much taxiing for us).

Near the little ones school are 4 new build houses, it is not a big company just a bloke who buys a bit of land and builds a few houses. I don't normally like new builds but went to have a look last week, and really loved it, it's huge and has all that we need. It's a 4/5 bed detatched and built to a really good standard. They are not all finished yet and have not been marketed (2 are finished and sold). When I told the man our position he said that he would take both of ours in part ex.

My dilema is that he would take just short of a 14% reduction bringing the new one below the higher rate of stamp duty, but give us 75% of the value of ours. We have a mortgage agreed in principle which is 3X our income. This is do-able but will not leave any spare cash. I would have liked to buy new furniture, and possibly a bit for a wedding.

I am trying not to let my heart rule, it's a perfect (for us) house, in the right location. while taking a 25% cut we would also save around £1400 in stamp duty and EA fees. I don't want to be chasing the market down. we would be looking at staying in the house for 10 years (at least). We would have a 35% deposit on these figures and no other debt other than mortgage.

So basically, he takes a £40k reduction we each take a £25k reduction but save 14K.

What are your thoughts?

Mish

lisa-loves-cats

yippeeeee!!!!!!

just had agents on the phone, viewing booked for 5pm this afternoon

dave - yep the layout is very bizarre, but it has SO much potential for us....in fact, we prefer it when you cn go in, and start all over again to create the home you want, makes it so much more fun!!! and only 1 mile from the new unit we are re-locating the business to!

will jut hope and pray for an offer on ours (again!) and then calculate the best offer we can put in on the new place

pawpurrs

Oh mish that sounds like a hard one!
Are the houses compettively priced? 75% sounds quite low. But depends where they sit in the market. Is the new house on for a good price, think you may have to think long and hard about this one. It does enable you to move on though and tie it all up together, which will be hard to do any other way, you could sell one of the houses and not be able to sell the other.
Im sure if he is a buisness man the deal will be good for him.................

pawpurrs

Why wouldnt you pay stamp duty is he paying for that as well? The fee saving goes a long way to helping the cut you are taking on the houses.