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

whitesatin

azkaban420 wrote: »

Whitesatin, I forgot to add, I'm in Chesham and would LOVE to buy in Berkhamsted but it is just waaaayy beyond my budget. As you rightly say, houses that do come on for sale (at the right price may I add) get snapped up very quickly, that's why we're looking in Milton Keynes instead as we can get more 'house' for our money. We are going to sell up and rent until we have enough money to buy and the right house comes along...will also prefer buying as chain-free peeps as we feel it'll give us more bargaining power.

Good luck in your selling and buying pursuits

Az

Az, Chesham looks lovely and I have considered there too. But I need to be near my son (Hemel) and daughter (Wheathampstead) in order to be in a good position to help with the babies. I have friends in Berkhamsted and go there quite often. I like the idea of having it on my doorstep but may have to consider other options. We have been seriously considering Leighton Buzzard as you definitely get more for your money there. Also, it is on the same line and Berkhamstead so we could get there easily. The journey to Wheathamstead from there is not the worst but if the M1 is closed, it can be very busy.

Meanwhile, I have my Berko dream.:D What happens in reality may be different. We are also thinking about selling, moving in with my daughter whilst waiting for something to come up that we like and being in a good position to go for it.

Could do without all this stress though.

tyllwyd

tawse57 wrote: »

I personally think that many EAs over-value properties just to get houses on their books ....
If you are still reading this then read on... I am not saying this to rub your noses in it but to perhaps give you a dose of reality and a wake-up call. The housing market is only going to get worse IMPO as job losses mount, interest rates inevitably rise and second home owners sell up.
.... This is not advice but just personal comment - make up your own mind.

Fair enough, you are more than entitled to have your opinion & post it for discussion - but could you start a new thread for it? Otherwise this thread will decend into yet another debate about house prices, and there are already plenty of those out there (there is even a separate sub-board for just that discussion) - this is about chat & support for people who are struggling to move home which can be a difficult process whatever direction house prices are moving in.

PottyHouse_2

PottyHouse wrote: »

This was our 3rd "official" chain, 4th "official" Buyer, 5th "official" accepted offer !!!!

Its all blending into one whole mess !!!

We have gone back onto the market, spoke to a chap yesterday who first viewed our home LAST FEBRUARY! He is very interested in buying our house, the same thing happened to him a few weeks ago and he is awaiting another offer on his property - he may call tomorrow ??????!!!!!!!

I am desperately thinking of any other way to move house without being in a CHAIN !!! Unless we can afford 2 mortgages or rent out that is the only route I think (which we can't by the way!).

Last year I put leaflets through prospective houses offering HOME SWAP - not one bit of interest.

Any other suggestions VERY WELCOME !!!!!

So we signed up with another Agent on Friday.

Got a phonecall yesterday from the chap above - he left a message to say he has accepted an offer on his house and then made us an offer for ours - a bit lower than we had originally spoken about but as he viewed our house 18 months ago when he wasnt even on the market we are trying to establish if we can get out of paying EA fees to cover the shortfall in the offer.

Decisions, decisions ..... do we wait a week to see if new EA can come up with some really good viewings; FTB - the whole "CHAIN" mullarkey is such an issue with us or do we seriously consider his offer but maybe have to go EA route free and do all the chasing ourselves (which honestly we were doing before anyway) and then theres the risk that the house that we wanted may sell pretty soon too and here we may have a chance to rescue it.

In this last chain we were using the same EA as our Buyer, and the same firm of Solicitors and it all still went "ti?s up" so it doesnt matter really who you use, circumstances can blow it all out of the water, another lesson learned !!!

not_loaded

kittie wrote: »

Can someone tell me about the selling process, from a sellers point of view ie what happens after an offer is accepted?

Hi Kittie. Have a look at this page: http://www.easier2move.com/Conveyancing/Conveyancing-Overview.aspx

If you scroll down a bit there’s a lot of useful info about the selling/buying process. I’m not recommending the company as I haven’t used them.

sonastin

Well my FTB who put in the really low offers last week has come back today with a final best and final offer which is so close to the "what I really need to get" that I've decided to accept :j

This gives me a real dilemma on what to do about the place I want to buy though. On the one hand, it ticks all the boxes and exactly suits what me and OH are looking for, which seems to be 2 completely opposite sets of requirements so finding something in the very narrow overlap seems like a miracle! I have already had a mortgage approved for buying that place (from when I had an earlier attempt at a buyer). So one part of me wants to call up the EA straight away and tell them I've got another buyer and can we get on with the sale as we've already agreed.

But then on the other hand, a) I'm nervous of this sale falling through as well and b) the mortgage valuation came back 10k less than the offer that was accepted so the other bit of me is saying I should wait for my sale to progress further (possibly even to exchange?) before going back to the EA. And then trying to re-negotiate a lower price. The lender is prepared to lend enough for me to buy it at the original offer (plus a small loan from my mother to make up the shortfall in my sale price) because I have such a large deposit, but I can't help thinking that I shouldn't have to pay so much if the valuation has come back lower But then again, the vendor didn't seem too interested in moving on price when I put the first offer in (I started at what it ended up being valued at, she wouldn't budge from a counter offer 10k below asking price).

The house doesn't have a HIP because its been on the market so long it never needed one but I don't know if that means that there isn't any interest in it (it needs some work doing that is beyond most folks DIY skills) or that the vendor isn't desperate to sell and isn't budging on price and letting people walk away.

My mother and my solicitor both say I should let my sale proceed a bit to be in stronger position before I go back, and my EA reckons I should try to renegotiate the price down, but OH reckons I should just get on with it in case someone else does come along because it'll probably end up costing more if we don't get this place as all the other houses we've seen that we can compromise on are asking more at the moment.

I'm trying to stay calm and rational but its just so hard when it comes to buying and selling houses! :eek:

goldbyron

I exchanged contracts on Friday!!! Came a bit out of the blue in a way - despite the week of chasing and chasing. Just as I gave up hope - it happened!!! Completion next week so busy packing, finding somewhere to live and telling the utility world! My partner is now selling hers so I will still be on here and I will also be buying in the next few months. One stress down and another to go!

PottyHouse_2

goldbyron wrote: »

I exchanged contracts on Friday!!! Came a bit out of the blue in a way - despite the week of chasing and chasing. Just as I gave up hope - it happened!!! Completion next week so busy packing, finding somewhere to live and telling the utility world! My partner is now selling hers so I will still be on here and I will also be buying in the next few months. One stress down and another to go!

YIPEEEEEEEE !!! Congratulations !!!

Hilarious you weren't expecting it and then it happened - isn't that always the way !!!!

Good luck with everything.

ItMightBeUsefulOneDay

tawse57 wrote: »

The CGT rise on second homes will just see properties flood on to the market which will inevitably drive down prices further. The US and Eire have seen house prices drop by 50% and they are still falling, same for Spain, and the only reason it has not happened here in the UK, yet, is because Gordon Brown bankrupted the country by printing hundreds of billions, kept interest rates at basically zero and hired millions of public sector workers... and in doing so created the biggest housing bubble in history.

If you are still reading this then read on...

I have to agree, I do think houses in the UK are massively over priced.

I'd be happy, delighted even if prices fell by 50% in the UK even though I'm trying to sell my house. Since I'm trading up to a larger house it would make the next house much cheaper and so my mortgage would be smaller. I'd be more than happy to knock 50% off my house right now provided I could get the next house up also at 50% off.

Never going to actually happen though is it.

It's a gruelling slog of cleaning and tidying for someone to glance around for 10-30 minutes before deciding they don't like the wallpaper / windows / parking and not offering.

rosered100

kittie wrote: »

Can someone tell me about the selling process, from a sellers point of view ie what happens after an offer is accepted?

I use this one when I do my own conveyancing http://www.oyezformslink.co.uk/forms/templates/05182.pdf - it goes into more detail of what is required.


Well we got in touch with letting agents & had one around this morning with the result of a viewing this afternoon (it's a 'no' as we dont have a utility room). Lo & behold our selling agent (who doesnt know that we're thinking about renting out now instead) has come up with a couple of viewers for tomorrow!
We'd still rather sell as we've been told that any rental agreement would be for 3 years!! And after paying mortgage , costs & tax there is little money left & thats with a mortgage rate of 2.5%, so not sure I'd want to tie in to that kind of deal for so long but if the market really is in the doldrums at least it would stop a repossession as we have to find rent money for where we are moving to & the cheapest rent is 3X the mortgage we're paying now. At least I've stopped feeling depressed after the non exchange last week as I feel that there is at least another option even if not ideal.
Well done to those that have managed to exchange - it's a big sigh of relief once you know the buyer has definitely committed.

spookytoy

hi folks,
Jumping onto this board for some moral support .

Story so far:
decided start of the year to sell the house as its too big for me n the other half and work has been slowing recently over the past year or so, recession hitting us hard but just managing to keep our heads (just) above the water.

Bought it in 2007 for £180k, Spent approx £5k replacing windows etc.
Currently valued at £175k so already £10k down but have approx £35k in equity still left in the property.

When first bought the property we had a lodger/friends but he moved out and for the past 18 months we have been unable to find a lodger even at just £250 a month all in!

House went on the market end of April,
One person has collected a schedule from the EA, about 10 people have viewed the home report on the ASPC ( solicitors centre) but only had 1 viewing over 2 weeks ago that the EA hasnt managed to get feedback from.

Our house is slightly 'different' as its based in a rural village which is classed as a commuter town to Aberdeen, but the property is two cottaged knocked together giving a 5 bedroom, 2 kitchen, 2 bathroom, 2 living room property!. With a HUGE garden area.

Anyway we are both getting to the stage of just wanting it all over as 4 weeks ago we found our ideal property which is sitting empty , well within our new budget (50% of current ) as it was repossesed July 2009 and sitting on the market unloved.

does anyone have an idea of how quick the market in Aberdeenshire is? . my last sale was at the height of the boom and in Aberdeen city so sold within 2 weeks! .

will keep folks posted as to what happens and when........

cheers for reading my wee rant.... Gordon.