Wanting to sell soon after house purchase

Maggie23

Hi everyone this is my first thread so be patient! I don’t know what I’m doing.

Long story short is I put an offer on a massive house 2 days after I lost my mum. I was numb and not on this planet although oddly I felt fine at the time and so threw caution to the wind and went for it. This is totally out of character for me as I’m a worrier and more importantly a very low key person who likes simple things and likes to stay below anyone’s radar. I’m not shy at all but that’s how I am. A council estate girl born and bread and happy with that. Our last bought home was a semi detached and it was too small for the kids but this house is huge. I mean huge.

From the minute I walked in I had a realisation that it was all a mistake. It’s too big, it’s not me and I realised that had I not been in shock at the time of viewing I would’ve known that as beautiful as this house was it wasn’t somewhere I could see myself fitting in.

I’ve agreed to give it a try but I feel utterly bereft at the prospect of staying. Could we sell after 6 months say? And what would that entail?

Any advice to quell these panic butterflies will be greatly received xx

lincroft1710

If you have a mortgage, then mortgage exit fees may be payable. Then of course moving costs, solicitor's and estate agent's fees, plus stamp duty on next purchase. Plus hassle of trying to find new place.

mije1983

Are you sure this reaction....

Maggie23 wrote: »

From the minute I walked in I had a realisation that it was all a mistake. It's too big,

Is not because of this...

Maggie23 wrote: »

Our last bought home was a semi detached and it was too small for the kids

The fact that it is much bigger than your last place? However, I assume a larger property was indeed needed?


I noticed you refer to the new place as a house, but your previous place as a home. It could be subconcious, but are your reactions maybe due to the fact it's not a home yet? How long have you been there now?

walwyn1978

Selling after such a short space of time would be a red flag to some buyers, who would assume bad things about house (e.g. Neighbours from hell, sewage plant about to be built over the road etc) which then, since they won't even enquire, means you can't say why you're leaving so soon.

Instinct says you'll sell it, but at a price less than you pay for it because people are cautious and would assume you're hiding something, even though clearly you're not.

Good luck - whether you decide to stay or sell up.

Maggie23

I would sell tomorrow if I could but I understand we’d need to wait a certain amount of time. If we did I’d tell the vendors we are moving for work (husbands business).

getmore4less

if you are not committed(exchanged) you could pull out.

often a solution is to be creative with allocating the space to tasks.
eg kids get a bedroom and a play room each.

Adult only room.

Some rooms can be shut off till you think of something.

who are you agreeing with for this trial?

Post a floor plan so people can give you ideas.

Linus2864

Maggie23 wrote: »

If we did I’d tell the vendors we are moving for work (husbands business).

Have you actually exchanged contracts yet? If not then you don't really need to give your reasons for pulling out to the vendors, although it would be polite.

Obviously you will still be liable for costs such as surveys, solicitors, estate agents etc, but if you really don't want the
house then it would be the better option.

DCFC79

So only an offer has been submitted, follow the previous and just be honest, you haven't committed to anything yet.

need_an_answer

OP,dont go along with a purchase you are unhappy with,pull out.

Its one awkward phone call or a face to face with the EA and then you can get on with finding the property that you can make a home.


I was reading your opening post as if you had already exchanged and moved it,not the case?

You will lose what you've currently spent on searches and will need to pay a portion of the solicitors fees but not usually the full quota but in my mind that's a lot less than having to live somewhere you don't want to be

I pulled out of a house purchase this time last year,not because I didn't like the place but there were too many things that needed fixing and we just couldn't see an end to negotiations.
I will admit it was an awkward 10 minuets spent with the EA telling them but after the relief was clear.


Your not so perfect house will find its rightful owner and you will find your own space too,write this one off and move on.

Davesnave

Maggie23 wrote: »

I would sell tomorrow if I could but I understand we!!!8217;d need to wait a certain amount of time. If we did I!!!8217;d tell the vendors we are moving for work (husbands business).

This sounds to me as if the OP means 'purchasers' where she's written 'vendors.'


Edited to add: OP I would give it a year, at least. It takes a while to adapt to a new property and it's not easy at first to see yourself in it as a home, which is maybe why you've not written of it as such. It took me at least 3 years to feel that our current and maybe final property was right for us after all.

moneyistooshorttomention

Maggie23 wrote: »

I would sell tomorrow if I could but I understand we!!!8217;d need to wait a certain amount of time. If we did I!!!8217;d tell the vendors we are moving for work (husbands business).

I'm reading it that OP has bought the house and moved in.

..and if they found out that wasnt the case? One quick glance by a reasonably perceptive person at the faces of those of us who aren't poker-faced - and they'd soon realise.

Personally, in your position, between a combination of what any potential buyers would think (yep....indeed they'd be looking for problems to explain this) on the one hand and you've barely "got your feet under the table" on the other hand - I'd give it, say, a year and, if you still feel the same (and your husband agrees with you obviously...) then put it on the market.

You may still not be quite "seeing things as they are" and another year would probably help you to see things more clearly as to what you all want.