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

coolmumh

Quote:
Originally Posted by coolmumh
Well done all those that have sold :j


We are still waiting for a buyer keeping getting hopes up but nothing............2 bed roomed ground floor flat nice sized rooms and no chain with a garage......have come to the conclusion my EA is useless got my daughter to ring the other day as a buyer and she was fobbed off by some girl who just emailed her some flat details didn't even bother to get her number. We are at a loss to know what to do next as been on market since April knocked the price down twice. We are struggling now as paying for the OH flat and my house and its a nightmare.

Any advice would be great

Thanks

Hazel

Can you rent? That's what we're going to end up doing as we can't go on paying our rent and the flat's mortgage at the same time plus all the other bills...

It's not ideal but FTB are in short supply and we've got competition and lots of it and even dropping the price is making no difference to one other party so we feel it's the only other choice...

Fozzy msut be hard when you're all apart, would it sell at a much lower price do you think?

We did look at renting it out but to be honest we would be lucky to cover the Mortgage payments and we would have to spend money getting in line with rental regs these days. We have alot of equity tied up in the flat so at the moment we are thinking like Fozzy and lowering price some more just to secure a sale. Its a real shame as if my kids were older and had left home would actually love to live in the flat its 5 mins from the beach, shops and train station and a good size.

fozzylozzy

NEH wrote: »

What are other houses in the area selling for, what has happened recently to house prices in your area?

In January this year a 4 bed semi (no garage or parking) sold in our road for £237,500 fairly quickly. Their next door neighbours are currently on the market for £279,950 (reduced from £299,950) according to property snake they have been on the market for 182 days.

There have been 2 recent house sales in an adjacent road to us, 1 4 bed semi detached house which was fire damaged (sold OIEO £200,000) and a 3 bed mid terrace OIEO £185,000 with work needed.

Ours is a 4 bed victorian end terraced with off street parking on for OIRO £245,000.

Looking at property snake, people are generally reducing prices anything between 1 - 16% percent.

The lowest we could probably take for ours is about £215,000 but do we drop it straight away or gradually.... who knows

sonastin

Saturday morning I received a letter from my solicitor telling me that my sale is nearly ready and the other side are hoping for completion "early next week". Having all manner of panics this weekend about when that is supposed to be - next week from when I received the letter (so I get all week to pack stuff) or next week from when they sent the letter i.e. in the next few days (can't possibly be really expecting that can they?!) I haven't even been in to sign yet so it ain't gonna be the latter but I don't really want it to be the former either - could do with a bit more time to pack and de-junk. Worried now about how long I can push the other side to delay. I don't think 2 weeks from signing to completion is unreasonable but buyer is FTB and I don't want to scare her off if she's keen!

No idea where things are up to with my purchase at the moment either. The house I'm hoping to buy is a repo and we were given 21 days to exchange. Nationwide managed to take 15 of those 21 to do the valuation (despite turning the last application around into an offer in under a week for the house that fell through!) so don't know if we'll be ready to exchange in time or not.

And it doesn't help that OH can't make his mind up whether I should be completing both at the same time or breaking the chain and moving in with my mum for a few days/weeks. Last time I thought I had a sale, I got a lecture about how breaking the chain meant he would have to take time off work twice and come over to move me twice and I'd have to find places to store all my stuff and it would be much better to complete both sale and purchase together so we could do it in one day if it is at all possible. This time round, it looks like it might be possible to do them both together and the lecture changes to how difficult it is to move on completion day and how much easier it would be to decorate an empty house and how I don't have a lot of stuff to move and it would be better to sell my house first and then think about moving into the new place. I can see the merits in both scenarios - I just wish he would make up his mind which one he believes in and then stop arguing with me about the merits or otherwise of the other option!

NEH

coolmumh wrote: »

We did look at renting it out but to be honest we would be lucky to cover the Mortgage payments and we would have to spend money getting in line with rental regs these days. We have alot of equity tied up in the flat so at the moment we are thinking like Fozzy and lowering price some more just to secure a sale. Its a real shame as if my kids were older and had left home would actually love to live in the flat its 5 mins from the beach, shops and train station and a good size.

Do you need the equity given you have a house and how long before the kids do grow up as it sounds like it could be an ideal property for you when older iyswim...

We will only just be covering the mortage and bills but the thing you need to do is to research all the exact costs if you're going to rent. That's what we have done. We've looked at the costs of electricty certificates, replacing the storage heater etc and then decided if it will be worth it....Maybe look into the exact costs?

I know how you feel though, we orginally turned down renting it out but we've been forced into it really.

fozzylozzy wrote: »

In January this year a 4 bed semi (no garage or parking) sold in our road for £237,500 fairly quickly. Their next door neighbours are currently on the market for £279,950 (reduced from £299,950) according to property snake they have been on the market for 182 days.

There have been 2 recent house sales in an adjacent road to us, 1 4 bed semi detached house which was fire damaged (sold OIEO £200,000) and a 3 bed mid terrace OIEO £185,000 with work needed.

Ours is a 4 bed victorian end terraced with off street parking on for OIRO £245,000.

Looking at property snake, people are generally reducing prices anything between 1 - 16% percent.

The lowest we could probably take for ours is about £215,000 but do we drop it straight away or gradually.... who knows

Maybe do a slight drop to £239,000 and i would have said discuss it witht he EA first but as you're on an online one i don't know much about them really...:(

not_loaded

Chiaroscuro wrote: »

Thanks Kittie. I must admit I'm pinning my hopes on an investor wanting our place. Of the eight flats in our block, four are now rented out and over half are rented in the block next door. As we're near Stansted Airport there are usually a lot of people looking for rental property, we just need someone who wants to buy it!

I’d try handing out fliers to anyone in uniform walking into the airport. They often want property convenient to their workplace. Or they might know someone…

fozzylozzy wrote: »

…Dropping the price considerably is going to be the best option for us in our situation I think. I guess I'm worried that we mightn't get any viewings even if we do this, which might lead us into a worse dilemma later on. Probably a risk we have to take…

We sold through HN. Dropping the price might work, but there’s no going back afterwards. There’s a lot of history on here of dropping and still no subsequent interest.

Going by what you say above, I’d consider dropping £10k to £235k, but then hold out for the amount you need/want, c.£215k - £220k?

sonastin wrote: »

…And it doesn't help that OH can't make his mind up whether I should be completing both at the same time or breaking the chain and moving in with my mum for a few days/weeks. Last time I thought I had a sale, I got a lecture about how breaking the chain meant he would have to take time off work twice and come over to move me twice and I'd have to find places to store all my stuff and it would be much better to complete both sale and purchase together so we could do it in one day if it is at all possible. This time round, it looks like it might be possible to do them both together and the lecture changes to how difficult it is to move on completion day and how much easier it would be to decorate an empty house and how I don't have a lot of stuff to move and it would be better to sell my house first and then think about moving into the new place. I can see the merits in both scenarios - I just wish he would make up his mind which one he believes in and then stop arguing with me about the merits or otherwise of the other option!

He believes in which one is most likely to happen! :rotfl:

Focus more on the £ costs involved overall. He’ll cope and he can play the hero as well!

Chyna-s

Morning all. Just a quick vent. During the valuation last week, EA asked how many years I had on my leasehold. Could not find info but I am sure it's less that 80 years. EA's said that this is a problem and I might have to renew to 125 yrs before selling and it will cost me between £5,000 & £10,000. Will be contacting management company today to discuss and confirm cost.

tyllwyd

Chyna-s wrote: »

Morning all. ... I might have to renew to 125 yrs before selling and it will cost me between £5,000 & £10,000. ...

Ouch! If you can sell quickly & at a price that covers it, I guess it will all come out in the wash, but it is a lot of cash to come up with. Good luck.


I popped out to do some shopping on Saturday evening, and came back to discover my OH was digging up the gravel in our front garden. We've been talking about it for a while (it is looking shabby, and grass would look cosier although less practical for parking a car if need be) but it was a bit of a shock to find the place looking like a building site. Oh well.

And we were a bit disappointed because we'd booked windowcleaners to come & give the plastic cladding on the gable end of the house a wash at the weekend, but they never turned up, which is a pain because now I have to waste time chasing them up/booking someone new.

Blodwen

not_loaded wrote: »

My EA is busy tending his Jedward hairdo

This really made me LOL, thanks not_loaded! Sorry to hear about your chain though.

Lil and Kittie - well done on exchanging, great news!!

partickz

Hey guys. I have read a fair % of this thread over the weekend. My fiance and I are currently looking for places around Lanarkshire/Glasgow. I am worried we fall into the "tyre kicker" category as we just cannot find anything we like.

She has a strong deposit saved (£40k), whilst I have just cleared my feet of lots of stupidly-acquired debt and have started saving since about May. I would hate to waste the time of vendors and we do like that a local EA does "open house" every now and then. But sometimes it is just so hard to express in words why we do not like somewhere.....

monkeys_bunny

partickz wrote: »

. But sometimes it is just so hard to express in words why we do not like somewhere.....

Your right, it is hard sometimes to say exactly why you dont want to buy somewhere, and spending all that money on a house is a BIG step, as vendors we do understand this, we just like to come here and vent, so to speak. after all you have money in place and are actually looking to buy, the real tyre kickers are those horrid people that come for a look round as a day out and have no money, mortgage or real want to buy a place.

Good luck with your hunt, you may find help in the Purchasers thread.