To those selling in these difficult times

Debras_Angel

pawpurrs wrote: »

Got a viewing booked in for tomorrow and someone that wants to come at the weekend, but not booked in yet, so thats something, I guess.

Don't forget in the current climate this is fab news, with so few buyers around!

Don't let the b*ggers grind you down, you don't want prospective buyers to think you are desperate.

You will get there;)

Davesnave

mishmash wrote: »

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

As you say, tying together all the things you want to do is a potential nightmare. Chasing this market is also very unappealing; my experience is that every time I get an offer the media reveal some new economic horror story!

While 35% of your own money going in should normally shield against negative equity, these aren't normal times. Houses have dropped well over 15% where I live, so it's right to consider how much further they might fall given the parlous state of the mortgage market, and whether your builder is reflecting local conditions properly. There is also the great unknown of the looming recesssion, which raises the spectre of unemployment. Does your OH have a bomb-proof job? These are the sort of questions I'd weigh the answers to.

Debras_Angel

donna1975 wrote: »

We put our house on the market in march for 199 95o its now down to 159 950 and we have probably had baout 15 viewings in that time, but no offers. we are now doing a part x instead.

Hi Donna,

Hope you don't mind me asking is this with a new build and is it a good deal?

Davesnave

Debras_Angel wrote: »

Don't let the b*ggers grind you down, you don't want prospective buyers to think you are desperate.;)

Have you been Googling my sig?:rotfl:

Debras_Angel

Davesnave wrote: »

Have you been Googling my sig?:rotfl:

Nope...

...are we singing from the same hymn sheet?

Debras_Angel

Davesnave wrote: »

Have you been Googling my sig?:rotfl:

oooh I say I just did it now though, rather spooky although I'm not quite correct. I will use that as it's one of my favourite sayings.

donna1975

Debras_Angel wrote: »

Hi Donna,

Hope you don't mind me asking is this with a new build and is it a good deal?

Don't mind at all, as I said ours was on in march for 199 950 and it went down to 174 950 we then looked into part x and after we had the valution from wimpey done we dropped it down to 159 950 just to see if we could get anyone interested at that price, we were the cheapest 3 bed house in the area at that point, so wimpey didnt actually know we were willing to go that low as far as they were aware we had it on the market for 174 950 they came back to is with an offer of 155 000 we accepted that and the house we are buying off them was on for 300k in march and we have got them down to 245 500, so i think its a fair deal although I though that doing a part x would be stress free but its been far from it, but we are slowly getting there.

Debras_Angel

Good for you, as you got the deal without losing out if you look at what you lost and gained, although someone wll be along to tell you not to buy a new build. My last 3 houses have been new builds and all have been okay.

Hope the stress gets less the further along you go. Have you tried to get them to throw any additional things in like carpets etc? Anything is worth asking for they can only say no.

Good Luck with the move.

donna1975

Debras_Angel wrote: »

Good for you, as you got the deal without losing out if you look at what you lost and gained, although someone wll be along to tell you not to buy a new build. My last 3 houses have been new builds and all have been okay.

Hope the stress gets less the further along you go. Have you tried to get them to throw any additional things in like carpets etc? Anything is worth asking for they can only say no.

Good Luck with the move.

yep its carpeted throughout, new dishwasher, washer/dryer and fridge freezer.

Its not the house we would have chosen had we had the choice but we couldnt sell ours, so it will do for now, its not bad, 4 bedrooms 3 bathrooms with 4 loos, think of all that cleaning!! lol
We are going to stay there for a good few years and wiat for everything to pick back up then move again.

GDB2222

donna1975 wrote: »

Don't mind at all, as I said ours was on in march for 199 950 and it went down to 174 950 we then looked into part x and after we had the valution from wimpey done we dropped it down to 159 950 just to see if we could get anyone interested at that price, we were the cheapest 3 bed house in the area at that point, so wimpey didnt actually know we were willing to go that low as far as they were aware we had it on the market for 174 950 they came back to is with an offer of 155 000 we accepted that and the house we are buying off them was on for 300k in march and we have got them down to 245 500, so i think its a fair deal although I though that doing a part x would be stress free but its been far from it, but we are slowly getting there.

Surely, for this to be fair, they should take the same percentage off their price as you have taken off yours? That would take them down to £232,500.