To those selling in these difficult times Part Deux. AKA sellers support network!

spirit

I've got everything crossed for you skintlass. It's horrible all this waiting isn't it. :mad:

I've had a second viewer and the agents snuck another one in 15 minutes after that - very sneaky, no pressure then,

I'll see what tomorrow brings then.

skintlass

Cheers spirit - this waiting is doing my head in :mad:. Fingers crossed that your second viewers make an offer.

ukmaggie45

skintlass wrote: »

Congratulations Jenny74 :T:beer:. Well another set of buyers due to prove mortgage (hopefully tomorrow). I need everyone on the forum to keep their fingers crossed for me (I think I'm going to be awfully grouchy tomorrow at work).

Have fingers, toes, knees and elbows crossed that all works out for you Skintlass. :j

Having walked away from our possiblepurchase and now bid on another place I feel a bit odd still posting here, but I'm still keeping up with "the gang"

Besides, will be rejoining once we move out and then be trying to sell, but it might be a while.

Hope you all let me stay here on the thread - as Arnie says "I'll be back".

Scallie

I haven't been on for an update in a little while due to work pressures, but things have been ticking along here in that kind of up-and-down way familiar to everyone on here.

We put the house on the market in July for £215k. Got lots of viewers but no one interested in putting in an offer. Having scouted the market to see what was happening we saw that similar properties were being sold within a week of going on, and it appeared that our house had been over-valued. We lowered the price to £200k which was much more realistic, and told the agents we'd be taking it off at the end of October if nothing had happened.

We got much more viewers and a first offer which we turned down (£175k), then another one last weekendfor the asking price. It sounds good but the buyer didn't have his house on the market. The EA said he saw our house, loved it and arranged for the EA to value his house the next day. He then got the HIP prepared and put it straight on the market (it's just gone on). With all that in mind we said we'd accept the offer but not take the house off the market until he had a buyer. He's accepted this and we're still taking viewings.

I think we're still going to take the house off the market at the end of October - there are some things we want to do to improve it, and then we can put it back on in the New Year with some shiny new photos and a revised price if necessary. If the buyer manages to sell his in the meantime then all well and good.

In the meantime, we put in a £250k offer on a £275k house and got turned down (it went straight away for the asking price). We've seen another one we're going to offer the asking price on tomorrow, but it's all a bit unstable at the moment.

Hope things are ticking along nicely for everyone.

kymie

Well, the viewing I had this weekend put in an offer - again at £120k. The viewers told me what they wanted to pay, I told them what I could afford to drop to and that was that (although poor man thinks he knows whats going to happen with the economic climate in the future! But I truly believe NO-ONE knows that, esp not 'a friend who is a bank manager'! They may have insights to the real story as to whats going on but we all know no-one can predict the future,its all guess work.) I have to stress that my house is worth more than what we have it on the market for - but of course people will only pay what they want to pay and so far the offers have been by people who dont need to sell to buy,and are just looking for a bargain which of course we can all understand! So I have no option but to sit and wait it out. Im just really pleased we have had two suitable viewers and two offers in a month with the new EA - and feedback as well!
Scallie if you come off the market you will have to buy another HIP when you go back on.

Scallie

You're kidding, I didn't know that. What happens if we move to another EA?

kymie

If you change EA you should be ok as long as you have the new one take over within 28 days of leaving the old one I was told - but we made sure our new one took over on the same day we left the old one to make sure!

Scallie

Gah, we have a clause saying we won't go with another EA for a month. Never mind.

not_loaded

kymie wrote: »

…I have to stress that my house is worth more than what we have it on the market for - but of course people will only pay what they want to pay and so far the offers have been by people who dont need to sell to buy,and are just looking for a bargain which of course we can all understand! So I have no option but to sit and wait it out. Im just really pleased we have had two suitable viewers and two offers in a month with the new EA - and feedback as well!
Scallie if you come off the market you will have to buy another HIP when you go back on.

Yes, if you are confident with your price I’d stick with it unless you have a real need to sell. Clearly a drastic reduction will nearly always sell a property, but that’s hardly going to help you buy your next property is it?

Concerning the HIP, from Direct Gov UK:
How long does a HIP last for?
While the property is on the market, there is no need to update the HIP. If the sale of your property stops and then starts again, you may have to compile a new HIP and provide up-to-date documents.
However, you can carry on using the same HIP without the need to update any of the documents where:

• marketing stopped because an offer was accepted and the sale has fallen through (but remarketing must start within one year of the date when marketing first began or, if later, within 28 days of the sale falling through)
• marketing has stopped for any other reason and the seller remarkets the property within one year of the date when marketing first began.

The effect of this is that the HIP has a shelf-life of at least 12 months for the seller.

Scallie

Phew, that's a relief. Thanks for clarifying that.

Well the good news is that our offer was accepted. So now our situation is that we have an offer on our house (but the buyer hasn't sold his house yet), and we have an offer on the house we want (but the seller hasn't found a house to go to). What now?