to those buying in these difficult times! AKA buyers support network

zhuhai

CABAZON - Retailers are banking on this Black Friday to help them through a difficult year. Shoppers were hoping to cash-in on the deals being offered. Some start planning weeks in advance, as they scout out the best strategies and deals. They camp out or get up very early, but shoppers aren't the only ones working overtime.

54druids

Please ignore the last post as i haven't got a clue what it is about. Please note this post was originally a compliment to Pawpurrs original thread ( much admired and used) and is genuinely meant as a sound off for those people (like myself) who thought that, having sold your house meant you were in a good position but then realised you weren't.

pawpurrs

Hee hee. Well I have been ready to exchange for a few days, but seller is abroad, and despite recommending a power o attorney so this wouldnt hold up the sale, we now have to wait or the contract to be fedexed, meanwhile bit fed up with the searches, told soliceter i wasnt bothered about them, waste of money, wish I had done personal searches now and saved a few £££.
Hows every one else getting on?
The amount of work is starting to stress me a little.

54druids

Well, viewed 2 empty houses last week and my initial excitement for one turned into disappointment when i discovered it was alot smaller than I thought. However, it is in a nice location and we could extend or just use it as a stopgap for a few years. Having read your post though Pawpurrs, I am thinking omg here we go again as guess where my vendor lives - yep also abroad. I thought with the place being technically empty (presently rented) that it would be a straightforward sale. Known my luck it will be another dead duck. Fingers crossed for all of us. Maybe we should start a thread "if I tell you where I want to live will you sell your house to me?" and it would have to then have the subtitle of "as long as there are no complications"

Purpletopaz

Hi,

We have just started looking also, Good deposit,(25% LTV prices we are looking at ) FTB, although owned some time ago, Looking at 3 this week,

Estate agent we spoke to says they think the prices have stabalised where we live and they are looking at valueing propertys at 2005 prices.

Dont want to rush into anything, but it seems some houses are being snapped up quickly,


54druids, Do you think there will be more properties in the new year?

Its difficult with all conflicting advise! people say buy now before prices rise, others saying recession not hit fully yet on the housing market.-

Although I have bought-sold-bought ( then given to ex husband ) before it was 10 years ago !!!

I think all speculation puts the wind up every one!!!

54druids

Yes I really think there will be a rush for everyone to put their house on the market in the New Year. Unfortunately for us we have to port our mortgage by the middle of Feb, otherwise we lose alot of wonga so if we wait until after Christmas then the chances of completing by the date is exceptionally slim, which is why we are desperate to find somewhere now. Good luck with your hunt. Keep us posted how you get on.

surreybased

Hi,

I'm still looking - we do have an offer on a property but the chain is not complete - 4 buyers long and we're at the bottom. When we put the offer in we were told it was a short chain and we could be in by january! We need to move by June and the house needs loads of work so we need to get a move on soon. As a result we are still looking at other properties and saw one - have put in an offer - it's at our maximum but the seller wants more. To be fair it hasn't been on long so she's prepared to wait.

I am hoping that January brings more buyers onto the market. I think after the election IR will rise and that will have an impact as mortgage repayments look cheap but they can't be this low forever.

pawpurrs

I should be completing tomorrow. Had a quote for a hand made kitchen come through today, and its more than anticipated, I really like the guy and the work he does, am very gutted its come out as high as it has.........

roseland69

After a 6 month sale process (accepted offer in early JUNE!) we have just exchanged and are moving out just after Xmas. We only knew we were moving out just after Xmas about 2 weeks ago when the seller announce she couldn't get an extension on her mortgage offer and could we move on the 18th December as she was going away after that and the mortgage offer ran out on 30 Dec. We said errr... NO!. Negotiated move on 29th. We were lucky to find our rental. The area we are moving to consists of a few villages. But I have managed to find a rental, organise a new school and sort out removals etc in 2 weeks. No mean feat when you consider the place is an hour and a half drive from where we live now. Phew! Lots of travelling.

AS for buying.... well depends on what happens with the economy, interest rates etc post election. We refuse to "stretch" ourselves financially. Been there, done that. We just want a 3 bed semi with a patch of garden (many friends have 4 bed detached places with big gardens... but no disposable income as a consequence!). I'm older and wiser and sod what the Jones's have - I don't need to keep up with them!

Finger's x'd the right place comes up for us. I'd like prices to fall of course but my gut feeling is it'll all trundle on, going neither up nor down really in a stagnant way. Until interest rates go up. Then more properties will come on BUT mortgages will be less affordable. Swings and roundabouts I guess!

Lunary

We are in the process of buying. Offer accepted at the end of Sept, FTBers, over 60% LTV. Our seller has finally found a place to move to but the property has a sitting tenant until the end of Jan. So now we face stamp duty and increased VAT charges.

We've just had our survey done and mortgage offer is being finalised based on that. I think the plan is to exchange asap and then complete in Jan.

As far as the market where we are, there has been very little moving or new for the last couple of months. I guess that is to be expected at this time of the year though.

Good luck to everyone else.