Houses selling in 24 hours - keep missing out

redhead123

We have two houses to sell but can proceed on one ( mine has sold) up to 345, I just need to port my mortgage across which the lender has agreed to in principle. I am worried my buyer may pull out if we don't find anywhere which is what happened before. The best houses are gone within. 2 days. I saw one the other day a s I happened to be working from home, my partner was at work so I arranged for him to see it the following day but it had sold in the morning I was gutted. I've got to he point where I might have to offer even if he hasnt seen it because houses are going so fast. I'm also going out leafleting. I am on the phone to the agents but it seems there are a lot of cash buyers about and it is a very competitive market not sure what else to do!

Pixie5740

Do you have to port your mortgage? Could you sell your property first which should put you in a stronger position as a buyer?

The_Logans

redhead123 wrote: »

We have two houses to sell but can proceed on one ( mine has sold) up to 345, I just need to port my mortgage across which the lender has agreed to in principle. I am worried my buyer may pull out if we don't find anywhere which is what happened before. The best houses are gone within. 2 days. I saw one the other day a s I happened to be working from home, my partner was at work so I arranged for him to see it the following day but it had sold in the morning I was gutted. I've got to he point where I might have to offer even if he hasnt seen it because houses are going so fast. I'm also going out leafleting. I am on the phone to the agents but it seems there are a lot of cash buyers about and it is a very competitive market not sure what else to do!

Just out of nosiness, what area are you in?

Mr.Generous

For a particular price range house in a local market this can easily happen. Around here (North West) its the £150 - £180 3 bed semi type, they attract the affluent first time buyer and the trade up from a terrace buyer. Anything half decent gets snapped up. Ones that need work sell for about 10-15k less which is not enough for any developer to give it a go.

After missing out several times when my daughter was looking she had to play the game a bit, she went to the agents and met mortgage advisors, got it all worked out as though she was going to sort everything with them (with 3 of the biggest agents) and they would call her BEFORE the new property was marketed. She agreed a purchase over a weekend on a new property this way before it hit Rightmove then just said she was using her own mortgage sorry. Sneaky maybe? I don't think so. EA's are not top of my Xmas card list.

cadon

The property I wanted was in a block where flats kept selling and selling quickly (all marketed by the same agent).

So I spoke to the agent and was contacted about this property before it hit RM. I think this may be the new norm - properties on RM already under offer so the agent looks super efficient and the area in demand.

Do your research on who is selling the properties that have sold that you want, bite your tongue and make friends with a snake.

Slinky

Are you in England/Wales? If yes then if things are moving that fast I do suggest you offer on what you like the look of and then get your OH along for a second viewing. You can always withdraw if your OH doesn't like it.

Mr.Generous

The agent gets commission from mortgage broker so if you look as though you are going to use them they give you first dibs.

glasgowdan

This is exactly what happened to us, though we also tried to get in with agents for advance arming of properties and none of them were interested. It seemed impossible to become a buyer capable of buying and agreeing a sale before right move listings.

What I will say is keep at it, because you WILL come across one that you like that stays on for a week or two.