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

fizzystutter

Thanks Az, its difficult not to look for a new house when your own is waiting to sell. I know I've made the cardinal sin, but hey-ho it happens.

I do hope your situation improves and the FTB at the bottom of your chain finally pull their finger out.
;-)

NEH

Hi guys

What have i missed, just been away staying with family to get soem much needed rest which is impossible in this house of hell....just over 2 weeks to go hurrah!

Az just seen you have a delay haven't read it in full but will do sorry to hear that...

Monkey's Bunny, sorry to hear no offer...


We had another viewer whilst we were away who liked it but sounded us out whether we would accept 20K less on our flat or even lower if possible...It was a drop way too far and the solicitor was lucky i didn't laugh at them over the phone....The other people with a flat with the same solicitors didn't cave either...I explained that the market hasn't dropped that far since a couple of years ago in the area and a repo had gone for 10K more than that in a slow market too....

Don't think she'll be calling again somehow...:rotfl:

oh and this time they wanted to re do photos except they forgot which side of the block our flat was on...first they lose the bed, now the actual flat, it can only get better can't it...:rotfl:

BornAtTheRightTime

Here's my tale of woe!

I accepted a low-ish offer in May after 3 weeks on the market as the buyer was chain free under a re-location and willing to be flexible regarding timescales. We are moving into rented accommodation temporarily as it's a job move outside the area so a quick sale really suited us. AFAIK their company uses a 3rd party company to buy their house which provides the funds to buy ours, with additional mortgage as they are trading up. Our EA said what we lost on the sale price we'd make up by having the funds early.

Initially they got the mortgage valuation done quickly, however things then slowed right down.

After 2 months with everything ready (we thought) they delayed exchange by a month over a non-issue (our property is registered with the LR but the document detailing right-of-access wasn't, they insisted this be done despite having the original document). Our EA was very good at blaming us for the delay for not having the LR entry sorted.

Once this was sorted they then demanded a 3rd viewing to check they still wanted the house (!). Our EA said this was normal after such a long delay.

They then proceeded to pay the deposit by cheque, despite knowing we are frustrated over the delays. Our EA said it was unfortunate but not unusual and we would be exchanging immediately it cleared.

It now turns out they are holding onto their house for a year as their child is half-way through GCSEs and they cannot agree completion for another month as their solicitor is not sure they'll have the remaining funds for a few weeks. Our EA said he has no idea where the money is coming from and has even joked that it's drug-money, and that their solicitor didn't want to enquire too closely in case he came up against Money Laundering Regulations.

I am now waiting for the EA to call back to confirm that they have the money and can exchange tomorrow and complete within 10 days, or it's back on the market.

My EA clearly has a sense of humour (which is just as well as I seem to have lost mine along the way) but if the funds did turn out to be linked to money laundering would we end up losing it all?! I don't want to stir up my solicitor on what is bound to be a silly joke, but perhaps I should?

I also feel that the EA has mis-represented these buyers as we accepted an offer based on their ability to move quickly and 100% guaranteed sale of their existing house, neither of which are going to happen.

What does everyone think?

WheelieWood

OOOoooh a call from the EA and after complaining just yesterday... uh... [wonders if EA is reading forum]... :hello:

Anyway, apparently our house is doing better than average in terms of web views and they have taken "a number" of calls about it... but no viewings coming from them.

I don't really know what to make of people calling about a property but not wanting to make a viewing. If the price was an issue, would people bother to call the EA?

Another option EA raised was that the people might be interested but not in a position to move yet (waiting for offers on their own house etc)

Any thoughts?

WheelieWood

matt1987 wrote: »

Just out of curiosity - have would any of yourselves accept an offer of 12.5% below an asking price in this current climate? I am looking at properties that are on the market for roughly 120k, do you think an offer of 105k is sufficient? I am a FTB with funds in place!

I think you've just got to try it and see. Different houses, different owners, different circumstances. It might be enough for some and not for others*. If it doesn't work then be prepared to either move on or increase your offer.

* - I don't just mean that some owners are greedier than others (though of course this may be true in some cases) but you may yourself decide that one house is worth more than another despite both being marketed at the same price.

If you're set on paying 105k and no more, you'll probably find someone who says yes, but it may not be first or best house you view.

azkaban420

matt1987 wrote: »

Just out of curiosity - have would any of yourselves accept an offer of 12.5% below an asking price in this current climate? I am looking at properties that are on the market for roughly 120k, do you think an offer of 105k is sufficient? I am a FTB with funds in place!

You won't know unless you try In the current market, and if you see from how this thread had progressed, sometimes people are willing/praying to receive AN offer, albeit a low one so that at least negotiations can start.

If you are in a strong position, your offer should be taken seriously...good luck

Az

fraser

We sold in Feb this year and things were very quiet, we had a lovely cash buyer appear, she loved the place and we struck a deal 3% under asking price. we had been on the market for approx 9 months in the end.

We moved out in rented and chased the sale hard, happened in 8 weeks.

For the future I will certainly avoid being in any chain even with family etc involved

So hang in there, as long as you are realistic with pricing and make sure you are presented and marketed right it will happen

whitesatin

We should have exchanged today but the electronic deposit transfer has not come through yet. Should I be worrying?

azkaban420

WheelieWood wrote: »

OOOoooh a call from the EA and after complaining just yesterday... uh... [wonders if EA is reading forum]... :hello:

Anyway, apparently our house is doing better than average in terms of web views and they have taken "a number" of calls about it... but no viewings coming from them.

I don't really know what to make of people calling about a property but not wanting to make a viewing. If the price was an issue, would people bother to call the EA?

Another option EA raised was that the people might be interested but not in a position to move yet (waiting for offers on their own house etc)

Any thoughts?

Few things come to mind:

1) The EA is saying what you want to hear...raise your hopes but not committing;

2) The figures mean nothing unless they convert to viewings and eventually sale

3) Yes it is quite possible people are waiting for offers on their own property, but they could still view if the EA pushed them...don't know if you want that to happen though, as they would probably fall on the fence of tyre-kickers?

Sorry for the pessimism, but let's hope the EA can convert the figures into something meaningful

Az

azkaban420

whitesatin wrote: »

We should have exchanged today but the electronic deposit transfer has not come through yet. Should I be worrying?

As long as your sol is confident the electronic deposit transfer has been raised, it should be fine. Depending on when it was raised, it may just be a case of it kicking over to the following day for funds to clear?

Get onto your solicitor tomorrow and find out where you're at, hopefully you can exchange tomorrow

All the best,

Az