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

Frogletina

No - it does not leave me in negative equity as I bought it 16 years ago. Buyers have a large deposit so they do not have any problem getting a mortgage on the balance that they need to borrow - they are just not happy that the valuation is so far from what they agreed to pay.

Annpan

Frogletina wrote: »

No - it does not leave me in negative equity as I bought it 16 years ago. Buyers have a large deposit so they do not have any problem getting a mortgage on the balance that they need to borrow - they are just not happy that the valuation is so far from what they agreed to pay.

Then you can only negotiate with them and maybe if they've looked at other places and decided that yours is the best of them then I would expect that you should strike a deal. I would have thought that it will happen to them again if they find something else and have it valued for mortgage in this market.
Good luck.

Frogletina

On a property over 175,00 my buyers won't have to pay stamp duty so this is the price they want to pay. They do not appear to want to negotiate any further and are asking for more information on work that was done - have already supplied full details that were given to contractors to work to but they seem to want more. I am worried that if I agreed to 175,000 and they have a full survey they will try to reduce even further.

I am sure they really want my house as they want to convert it into rented accomodation for students like a lot of the larger properties in this area and they said it was much better than any other ones they had seen.

As the property I am buying (hopefully) is £230,000 I am hoping that in the long run the potential increased value of this may outway what I feel I may lose on my current one. Hopefully the market will not fall much further

Charliestwins

:j:j:j:j:j:j <<<<< Me and my family :rotfl: because we have had our offer excepted on a perfect house for us.

The house came the market 6 days ago, its had 15 viewings with 6 being from 3 people doing second viewings so a total of 9 different people. Its had 3 people put offers in but in the end we got it :j:T

On for 179,950 first offer 172,500 rejected, second offer 175k excepted !

Its got more space than we need so will be great for our family to grow into

x

Davesnave

That's great news Charlotte! The house was obviously a 'good un' if so many were that keen within a week. Sometimes, it's being instantly proceedable that counts, if others are struggling to arrange mortgages.

Frogletina, (what a brilliant username!) I wouldn't imagine the subsidence would be an issue if you have an insurance backed guarantee from a reputable building specialist.

I think that, in most areas, £185 -190k would be the likely asking price now for houses that were £235k in 2007 and, as Annpan says, the building society are just playing it safe. This has brought you to the Stamp Duty threshold, so it's not surprising your buyers don't wish to exceed it.

It isn't for me to advise you whether to accept £175k, though if you do, tell your buyer there will be no further reduction. Words at least are cheap! Work immediately on the vendor of your intended purchase to see if there might be some help from there by way of a reduction. This is often what happens in chains, with everyone taking some of the pain in order to drive a deal through. The person at the top of the chain usually ends up conceding the most, (don't I just know it!)

Frogletina

Hi Davesnave - thanks for reply

EA has spoken to vendor of my intended purchase this PM and she will not budge on price. The property was only up for a couple of weeks and is quite desirable so I think she would not have much problem with getting a new buyer.

I'm away on holiday from tomorrow so contact and negotiations will be really difficult - I am left not knowing if my vendor wants to have a survey done now which was to have taken place while I was away, now I think it will depend on if I will accept a lower offer but I was hoping a survey would show that the place is now structually sound and no need for a lower offer.

My vendor is also talking about giving me extra cash for carpets etc but I am wary of this as I don't want to involved in this just being offered to avoid her paying stamp duty. Does anyone have any idea what would be seen as a fraudulent offer just to avoid the tax?

sunshine_shell

Yyyyeeeeaaaaaahhhhhhhh someone wants to see the flat on thursday night!!!!!!

Super Duper cleaning going on now!!

tootsmyboots

Hope all is going well for people. My update is a viewer is coming for a 2nd viewing tomorrow on our house. I will have both babies at home with me so the child proofing will have to stay on and selected toys will have to stay or my 14 month old will be bored. I reckon my other half and I will have a busy night ahead of us so we dont have much to do in the morning. It is so hard doing viewings with 2 so young. With hindsight I should have asked the agent to do the viewing while I take them out for a walk. But too late now, viewer is coming early.

My other sale is progressing well. All documention from my end is in and the buyer has asked for a key after exchange so seems to be going well.

Davesnave

=tootsmyboots;22890521] Hope all is going well for people. My update is a viewer is coming for a 2nd viewing tomorrow on our house. I will have both babies at home with me so the child proofing will have to stay on and selected toys will have to stay or my 14 month old will be bored.

I think people worry unnecessarily about the presence of young children during viewings. Provided they are not bawling there's no need to fear; houses are homes, after all. Indeed, it's thanks to viewers' own children that we now have a single Staffordshire dog.:mad:

Speaking of dogs; having viewed dozens of rural properties recently, we've lost count of the number of times we've been jumped-on or slobbered-over by real dogs. Children have barely registered, except when they've been the older, teenage variety, who hole-up in their rooms and glare at you over the laptop if you dare to enter!

pawpurrs

:oWell found out today that the buyer had not even returned the forms to her soliceter to instruct them, as shes laid back, but has done so today, honestly whats wrong with people :rolleyes: So things should start to move I hope.
Rest of the chain seems to be moving, hate this waiting part!

Hope we are all enjoying the sunshine!