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

tiny_tear

have now got rid of the useless EA and got it only on one.
Lowered the price another £6k to £158k...
last big push before I acknowledge I might have to consider renting the bloody thing...

Jen2girls

Just a quick update. Been on the market 20 weeks now 9 viewings, the latest of which was just under 2 weeks ago. They are a couple of first time buyers. On the viewing they seemed completely disinterested. Yet the next day when the agent called them they said they were seriously interested and would we consider renting so it could be a chain free sale. Anyway they said they were going to their mortgage advisor to sort out the mortgage before putting in an offer. Since then we have heard nothing. Our agent can't get in touch with them at all so i'm guessing they have either changed their minds or can't afford it. Oh well back to the drawing board. Congratulations to all of you who have had recent success. X x x

AlanW1980

Hi guys

Long time lurker but first time poster been reading a few of everyones tales of woe. Thought I'd add my own.

Been under offer to my current buyer now since Start of September. We accepted a slightly lower offer than we would of liked but we are pretty desperate to move and we have rental accommodation all lined up and ready to go (paid a small £250 deposit to hold it).

Buyer's solicitor is terrible, doesn't reply to faxes / letters / phone messages. Then sends through requests which have already been dealt with the week before. Delaying the whole process. Now our normally responsive buyer has gone quiet and can't be raised on the phone. We were supposed to exchange everyday for the past week. We've answered all their queries and resolved them in a timely manner. Now starting to feel like it's all going out the window. very depressing as it will be the 2nd time it's fallen through before exchange. We've given a deadline of tomorrow 6pm to exchange or it gets remarketed and then next week we will request the contracts back and end it.

I never understand why a buyer would all of a sudden clam up and stop responding. Why not clarify your position and save everyone the heartache

fingers crossed for a miracle! :A

rosered100

AlanW1980 wrote: »

Buyer's solicitor is terrible, doesn't reply to faxes / letters / phone messages. Then sends through requests which have already been dealt with the week before. Delaying the whole process. Now our normally responsive buyer has gone quiet and can't be raised on the phone. We were supposed to exchange everyday for the past week. We've answered all their queries and resolved them in a timely manner. Now starting to feel like it's all going out the window. very depressing as it will be the 2nd time it's fallen through before exchange. We've given a deadline of tomorrow 6pm to exchange or it gets remarketed and then next week we will request the contracts back and end it.

I never understand why a buyer would all of a sudden clam up and stop responding. Why not clarify your position and save everyone the heartache

fingers crossed for a miracle! :A

Sounds just like our position. Eventually (8 weeks after offer accepted) our buyer has admitted that they cant get a mortgage or a least not the amount that they need. I wish they had said earlier & been straight with us. Anyway, now the EA has stepped in & got one of their brokers onto the case but we are so annoyed that we missed the spring market with our first buyers & now the autumn (admittedly quiet) market with these ones & so have gone back on the market. I'm so glad I'm doing my own legals else I would have racked up quite a bill twice now!
Hope your buyers materialise & we are still hoping ours come good but we're prepared for the worst now:(

AlanW1980

I got a phonecall this afternoon that apparently the contract is in the post to the buyer and will be signed tomorrow.... I really don't believe it anymore. but fingers crossed I guess.

we'll still remarket tomorrow if the deadline lapses.

our buyers are apparently cash buyers who don't need a mortgage! just goes to show that even the best "on paper" buyers can still mess you around.

LilacPixie

Fingers crossed Alan. Our update is minimal, home report/survey was refreased today, exactly the same as it was before so we are moving onwards. Now just waiting on buyer mortgage approval so they sign the missives and we are officially sold but for now just under offer and is labelled as such online etc.

merlywdd

HI just a few comments to all you sellers im a property trader so have been buying a lot from people like yourselves where sales have been collapsing sometimes on the day of completion, its not always the buyers fault the banks are a complete nightmare right now ive seen several buyers with mortgages agreed have the banks pull them at the last minute due to some change in their criteria saw one case last week where a reputable-- i use the term loosely-- high st bank double the agreed interest rate on the couples mortgage as the solicitor requested the funds! another trick the banks are doing right now is they are leaning on the R.I.C.S surveyors to devalue properties even further so they can reduce their exposure so be warned its not agreed until you have the money in your hand, one other tip there are a lot of people including property buying companies out there presenting themselves as cash buyers but are still having to get mortgages if someone comes to you as a cash buyer then ask for proof of funding they should be able to provide it

23rdspiral

well i'm still here. and i've an idea as to why so many offers aren't backed up...

we're officially looking into renting ours out and have started looking at homes we could buy - with a more limited budget of course to leave us a few grand wiggle room if we dont get tennants for a few months of the year ect... out EA is pressurising us to make an OFFER on the house we like best... before even having a mortgage offer. we've seen her finance person and they say we're fine. i'm sorry but i want to know what our repayments ect would be before i get another couples hopes up!!! If all the EAs are doing that, no wonder the last few pages are full of people offering then going quiet!

paul97_2

Couldn't agree more, had two offers both unable to get a mortgage, slowly going off this whole house move thing:(

goldbyron

Just thought I would provide my update of the buying and selling process:

On the 8th October my partner (the last property to be sold in the saga after my completed in June this year) received an offer which was accepted.

On the 11th October the buyers made the full application for the mortgage.

On the 13th October we saw the house we wanted to place an offer on…this was our 15th viewing overall and 4th house we had put an offer on although the 1st time since we were ‘proceedable’.

On the 14th October we put in an offer which after some wrangling was accepted on the 15th October.

On the 16th October we made our full mortgage application.

On the 18th October the buyers had their survey which brought up a couple of issues that the agent has sent a contractor to explore on the 27th October. The issues are that the roof is not in great condition, guttering needs replacing and damp on one wall in the bedroom. Initially I was a little irritated as aside from the guttering (which does need replacing at the front) there is no damp in the bedroom! I have asthma and have slept in there for 5 years without any problems. I think that the wall is exposed (it is a converted semi) and is NE facing so there is maybe some dampness from rendering that needs minor repair. The roof is also not great but there are no leaks and it does not need repairing now. I also think back to my own sale and there was no problems about the roof then. Anyhow they want someone to look at it but we won’t be knocking money off as it is standard stuff for a Victorian building and they are getting it cheap!

On the 19th October our vendor loses the property she wants to buy however good luck has it that by the 20th October she finds another (she is keen to move too) house that is chain free. So only 3 homes in the chain.

On the 21st October we undertake the survey on our house purchase. This was yesterday….

Today I hear that the draft contracts and information has been sent to the buyers solicitor. So it is pushing along quite speedily at the moment. However the buyer is very very pushy – which is great she is keen but it is a bit too much. She has rung the agent every say with some question or other and was wanting to view for a 3rd time this Saturday with her family and another roofing contractor. I think she even expected to be given the keys to let themselves all in with!!! As much as it seems she thinks the flat is hers and that is positive – it is also a bit rude. Anyway the next 3-4 Saturdays we have so much planned with birthdays and anniversaries which we have put off for months with all this process. So we have offered weekdays and may extend to a Sunday evening if we have to. Its all very stressful (especially the selling part) and I can’t wait for the whole thing to be over!