Diary of a House Search

moneyistooshorttomention

Guess its just the horrible weather thats meant no "bites" yet then Dave - coupled with my house being in the "reasonable condition/reasonable price" range, rather than "bargain price and/or wonderful" range.

Re the comment about "a lot of FTB'ers think they can get a lot more for their money than they really can" it was just a quick comment from the youngest person in the place and I took it as meaning that their finances had been analysed and found to be enough to get a certain standard of house, but they were looking at the next "range" up and hoping to get a massive discount on them and hadnt realised we arent in a "falling" house market here and that won't work. I think the thing is that many of them will be reading some of the threads on here and thinking "Yay - go in for an automatic try for 10% off regardless and we can have a better house than we can afford" and havent clicked that its not the right area to try that...in this area you get exactly what you pay for.

lessonlearned

Davesnave wrote: »

That would be a strange tactic. The best houses go fast. Two of the best houses among all those I saw were under offer before I could view them.

Most people who are up to speed with their local market view anything that attracts them as soon as they can, bearing in mind job and family commitments.

I agree. Definitely. The early bird catches the best and juiciest worms.....

The best houses always sell first irrespective of the state of the market.

Anyway I have two viewings today - should be fun. :D

Off to start the day....

Icecold_2

Hi

Good luck with your search.....we have had mixed experiences.

We were renting via a very rude LA he had a bullying attitude whenever we wanted information he acted like we were fools...he didn't pass messages to the LL ...in the end we delt with the LL direct...much easier

We have recently purchased...my husband is also disabled...he is an amputee so we had a lot of boxes to tick when looking...we also were cash buyers with a decent budget. We needed a bungalow....we were constantly sent details of houses....on one viewing there was a very sloped driveway....not suitable for daily use by an amputee it was pretty steep....we pointed this out o EA and she replied..."it's not that steep I have had a pin in my knee you know and I can do it" my hubby has made an amazing recovery and never makes a fuss if he could do it he would, of course we were thinking if wet and icy conditions not just a sunny day....we decided to be amused by her ignorance and let it go but it was a very foolish comment

We have eventually found a lovely bungalow and couldn't have been more pleased with the EA every question answered every phone call returned any visits arranged quickly and whoever answered the phone could discuss the purchase it never mattered if someone were out of the office.

It's a shame that you get so used to bad customer service that receiving good becomes a bit of a surprise.

lessonlearned

Icecold wrote: »

Hi


We have eventually found a lovely bungalow and couldn't have been more pleased with the EA every question answered every phone call returned any visits arranged quickly and whoever answered the phone could discuss the purchase it never mattered if someone were out of the office.

It's a shame that you get so used to bad customer service that receiving good becomes a bit of a surprise.

I had to highlight that last bit. Very apt and so so true. The problem is here in the UK we don't complain enough about shoddy service.

Those who do often go about it in the wrong way. They get so frustrated that they end up losing their temper and then they go about things in the wrong manner. Understandable of course but not the way to get what you want.

We should always remember the old adage

"Lose your temper, lose the argument".

Glad to see that you found your ideal property to suit your needs and that the EA's gave sterling service.

Time to go and view those properties.

yoyoegg

I was just reading why the internet hasn't knocked EAs into a cocked hat, as it has with other high-street business'.

Maybe if more EAs appear 'not bovvered' then outfits like Rightmove can expand from listings to supporting discounted/flat fee transactions.

googler

yoyoegg wrote: »

I was just reading why the internet hasn't knocked EAs into a cocked hat, as it has with other high-street business'.

However, that article is written from an American perspective, and the service ethic rules all over there. Reading lessonlearned's posts, I think she would have fitted right in over there.

lessonlearned wrote: »

We live in a 24 hour society, people have jobs and lives. You need to step out of your 9-5 mentality and make those calls. That's what mobiles are for.......

Ah, but is anyone willing to pay a 24-hr rate for a 24-hr service, that's the question.....

From the American article, Real Trends, a research firm, reports the average commission paid to the buying and selling brokers was 5.4 percent of the price of a home in 2011, up from 5 percent in 2008. (The seller’s agent collects the commission from the seller and then splits it evenly with the buyer’s agent.) That’s considerably higher than the median rate in markets abroad, where there may only be one agent involved in the transaction, such as the U.K. (a 1 percent to 2 percent fee), Germany (3 percent to 6 percent), Israel (4 percent), and the Netherlands (1.5 percent to 2 percent)

lessonlearned

googler wrote: »

However, that article is written from an American perspective, and the service ethic rules all over there. Reading lessonlearned's posts, I think she would have fitted right in over there.



Ah, but is anyone willing to pay a 24-hr rate for a 24-hr service, that's the question.....

From the American article, Real Trends, a research firm, reports the average commission paid to the buying and selling brokers was 5.4 percent of the price of a home in 2011, up from 5 percent in 2008. (The seller’s agent collects the commission from the seller and then splits it evenly with the buyer’s agent.) That’s considerably higher than the median rate in markets abroad, where there may only be one agent involved in the transaction, such as the U.K. (a 1 percent to 2 percent fee), Germany (3 percent to 6 percent), Israel (4 percent), and the Netherlands (1.5 percent to 2 percent)

Interesting facts and figures there. Most of these will apply to "pre-loved" properties. Developers will pay much higher. I would be embarrassed to tell you how much commission I received from Spanish Developers -

(When I moved from an EA's high street office to UK developers I tripled my salary at a stroke).

Mind - when I sold properties in Europe I sometimes had to pay my own expenses ie air fares, hotel, car hires. Sometimes I was able to bill the developers.

Usually I had to pay my own expenses upfront and then claim back when the sale had been finalised.

I would lurrrve a crack at the good old USofA. They would adore my posh English accent. :rotfl::rotfl:

I once had a lawyer friend in New York who offered me the chance of selling commercial real estate in the Big Apple itself. I had just found out I was pregnant so had to decline. Talk about missed opportunity.

Ah well - you can't win 'em all.

lessonlearned

Anyhoo - here's my report on today's viewings.

I forgot to mention I am looking to source 3 or 4 properties this year.

1. A bungalow or apartment, on a managed retirement complex for my elderly parents.
2. An apartment which has to be a temporary residence for me, which will then be handed over to my DS2 for him to either live in or let out as he chooses.
3. A development project for me (hence my need for a temporary bolt-hole). My days of sleeping on a mattress whilst living on a building site are over. I like hot water and a plumbed in loo thank you very much.
4. A development project for DS1 - in his own words he is looking for a "sh8t hole" that he can do up and make a fortune on. Yeah right!!! Mind you he's happy to sleep on a mattress whilst living in squalor.....He likes to save money that one.

So today was apartment day.

I have decided to keep reports seperate from my usual general prattle and chit chat. That way anyone who wants to keep my tips for future reference pointers can simply cut and paste them.

When you view - always take a notepad to joint down a few things asap. When you view several properties they can get a bit jumbled up in your mind. Take photos if you feel so inclined - ask the Vendor first!!!!

Excited13

lessonlearned wrote: »

I am afraid that you may have a point here. It was certainly the case with the young couple quoted in my story.

That was over 20 years ago. I would have hoped that type of scenario was now a thing of the past, apparently not.

Your subtlety in handling the rude/incompetent EA with the issues over the boiler is to be applauded:T:T

It hasn't changed at all. I was viewing at the start of the year and took my mum with me as second opinion as I'm buying a large property on my own.

One EA told me I was stupid to be looking to buy such a big property and I should look at a 2 bed flat. I'm sorry but it's my money and there are numerous reasons why I was looking at certain properties. I've lived in so many properties in the last 7 years I wanted something long term that could cope with a family or the needs of my family if they came to see.

I enquired with one large EA in relation to a certain property and also provided my needs. I called them and never heard anything back. Said property is still on the market over 3 months later despite being one of the cheapest 4 beds in the area.

I must admit the EA I am buying through are excellent. They are open until 8 Monday-Friday along with being open all weekend. In this day and age people expect more than the 9-5 and being able to view properties after work (the agent was doing accompanied viewings) was a major help.

Thank you Lesson for starting this thread I'm really enjoying all your stories about your previous career and current experiences.

jibbyboo

Am I correct in thinking EAs (or vendor if nec) have a legal obligation to answer any qs they are asked? If so, would this include ceiling prices on the specific property given changes you would consider making?