Anyone else terrified their buyer will pull out?

boo80

I had a chat with our estate agent and I do feel much better about it now. We're in the south east and the prices on rightmove haven't budged yet. We're moving north, I don't know what the market is doing there but we wouldn't dream of asking to pay less than the agreed price (unless we have no choice with buyers asking for reduction)

Money_saving_maniac

boo80 wrote: »

I had a chat with our estate agent and I do feel much better about it now. We're in the south east and the prices on rightmove haven't budged yet. We're moving north, I don't know what the market is doing there but we wouldn't dream of asking to pay less than the agreed price (unless we have no choice with buyers asking for reduction)

If you're selling you just have to wait and see what happens.
I had an EA call me today about viewing a property. She said everything was fine with just one buyer pulling out today so far and that nothing would change, but she sounded so depressed I knew she was repeating the management pep talk.
Put it this way she wanted me to see something 10k over my budget.
Why? Because she knew an offer wouldn't be for the full asking.

hazyjo

As I expected here, people were just waiting for a result - ANY result. 17 Houses on in Chingford in 24 hours (8 houses the 2 days before that). 22 in Leigh-on-Sea in 24 hours (another 24 over the 2 previous days). Either people panic selling, or they are just getting on with what they had been putting off as the market had quietened down.

If someone pulled out if I was selling, I'd just wave them off with a 'tata then' and get it straight back on the market. For that one person looking for a reduction, there will be another dozen waiting in the wings to pay full price still (in E4).

Yes, some areas will take a hit or will be static (or drop), but I am not expecting that here yet. Maybe the less desirable houses will take longer, but I reckon the nice ones in good locations will be snapped up for a while yet.

It's all about location still.

Jx

boo80

Thank you Hazyjo. I needed that. Xxx

hazyjo

boo80 wrote: »

Thank you Hazyjo. I needed that. Xxx

It's very early days... day 1 in fact! There will be a lot of kneejerk reactions out there. My mum thinks the end of the world has come.

What area are you in? Hopefully there will be more than one person wanting your house. I'll be interested to see how quickly these properties go that have come on today. If anything I'll prob see overpricing in the panic that people will drop offers by 10%.

Either there's a recession looming, or people will just realise it's all the same for a long while yet and will just carry on. Hopefully the latter...

Good luck. Nobody knows anything really which is why there are a lot of people running around like headless chooks.

Jx

lettucekl

Yeah this has thrown a spanner in the works, im a FTB and am now think i should maybe hold off my search for a month or so as i dont want to buy a property now rather than waiting a month or so and getting the same property for something like 15-20k cheaper, only disadvantage to this is i might miss my dream home!.

Just feel sorry for people who have just put there house on the market!

Thrugelmir

boo80 wrote: »

I'm so scared we're going to lose our buyer/the chain is going to collapse with all this uncertainty. Is anyone else feeling the same way? Is there anything we can do to be proactive and keep things moving?

Martians might land tomorrow. Who knows. If they don't. The world will simply carry on as it always does.

ixwood

Be careful about listening to "advice" or comments on here.

The HPC (House Price Crash) losers are amazingly even more desperate than usual and are making stuff up on here and elsewhere, hoping they can panic people and might finally get the economic disaster they've been wanting after 15 years of being wrong and paying a BTLer's mortgage for him:-

http://www.housepricecrash.co.uk/forum/index.php?/topic/210288-game-changer-brexit-house-prices-merged/?p=1102973274

Willow101

My advice Brexit or otherwise is always the same:

Can you see yourself there for 2 / 3 / 5 years ? What if your circumstances change, could you cope? (Eg got married / had a baby etc)
Do you love the property enough?
Is it affordable without over stretching yourself?

If all this is true then you're likely going to be able weather the storm.

If concerned you can look at fixing your mortgage for longer, eg 5-10 years and getting some insurance for if you're ill / lose your job.

Money_saving_maniac

ixwood wrote: »

Be careful about listening to "advice" or comments on here.

The HPC (House Price Crash) losers are amazingly even more desperate than usual and are making stuff up on here and elsewhere, hoping they can panic people and might finally get the economic disaster they've been wanting after 15 years of being wrong and paying a BTLer's mortgage for him:-

http://www.housepricecrash.co.uk/forum/index.php?/topic/210288-game-changer-brexit-house-prices-merged/?p=1102973274

Well if they think property is going to go down to 50p they have another think coming
:rotfl: