Who else is selling and buying during Brexit

Beats85

I thought I would start a thread on anyone who is selling or buying a property during Brexit (as in March onwards). Just to note the trials and tribulations (if any, I am being optimistic as desperately need to move). I am putting my flat on the market end of Feb, just redecorating it and smartening it up now, anyone else doing the same?

Alter_ego

Had offer accepted Dec 18. going ahead as cash buyer. Ours on market next week. A bit nervous about selling at this time.

lisyloo

I am selling and hoping to exchange very soon.
We have a chain of 3 properties.
I have been worried that someone (particularly the FTB) would drop out and when minor enquiries were dragging on a bit I was naturally concerned that it might be a front for cold feet, but we are in the situation where all enquries are now resolved.
Its worse because we have no sight of the detail of enquiries further down the chain, but looks like were all set.


a different point in the process to you


To be honest there are all sorts of things that could put off a buyer most of them outside of our control so I think its a situaiton where you just have to go with the flow.


We had a really good EA and solicitor so that help, so those i things i would never skimp on. The EA is definitely worth their fee as we got full asking price.

Bossypants

I accepted an offer and had my offer accepted late last year, so we're in the thick of conveyancing at the moment. Hoping to have it wrapped up by mid March, but who knows what may happen. I'm anxious to get it done and dusted but while Brexit is a factor, it's not a major concern for me as all parties involved could see how uncertain the situation was when we started. If something goes wrong now, I don't think it will be because of Brexit (though it may of course exacerbate the situation).

Good luck all!

knightstyle

Been on the market since Nov.'18 very quiet here in NW Lincolnshire. Just had second viewing by a couple who are seeing the mortgage advisor next Monday...... Hate waiting!!!!!!

CarrieVS

FTB, had an offer accepted last Tuesday. Buying with no upper chain from an investor who wants a quick sale as the house is empty, so hoping to have it wrapped up while we're still in the EU (not that that's relevant). Y'all have been great help when I've asked questions on this forum.

If I was buying primarily for financial reasons I might reconsider but I'm buying because I want a home I can call my own, and Brexit isn't going to make me put my life on hold.

I'm fortunate to have a large deposit (nearer 45% than 40) and I can easily afford a five-year fixed rate mortgage, so interest rates can be as unstable as they like in the next few years and I'll still have my home. (I hope things will settle down to some sort of new normal within half a decade.) I've no reason to fear my job being directly affected by Brexit. If house prices fall there is a chance I could end up with not much equity and be stuck with a more expensive deal when I renew in five years or if I want to move, but they'd have to truly crash to put me in negative equity. I don't think that's going to happen and if I waited until I was 110% certain that something terrible wasn't going to happen, I'd never do anything, ever.


My older brother's also in the process of buying his first home (hoping to exchange in the next couple of weeks.)

Lurkingtoposting17

Buying, in a chain and pretty much ready for exchange any day now.
Brexit has never bothered me, its the right home at the right price in a location that is about to under go a five year regen plan and is an at least five year home for me.
The only uncertainty I have is that my role at work is changing, not due to Brexit. Salary will remain the same, and so will everything else, but they are discussing within the next 3 months just adapting my responsibilities and creating a new role for me. Which in theory, is great, but does add a degree of uncertainty as it is a shift away from the status quo.
As such, I will be slightly slower redecorating the home I am buying, and using a few more hand me downs, and keeping a larger surplus of cash, to prepare for any uncertainties, that I would have otherwise have considered.

Beats85

knightstyle wrote: »

Been on the market since Nov.'18 very quiet here in NW Lincolnshire. Just had second viewing by a couple who are seeing the mortgage advisor next Monday...... Hate waiting!!!!!!

We originally put ours on at the end of September and had 12 viewings in the first few weeks (we live in the commuter belt) when we didn't have a viewing for a week, the estate agent asked us to drop the price by 10%. Large majority of viewing were downsizing. We were't impressed with our estate agent as they kept asking us the same questions and not knowing the answers. We took the flat off the market and had a think over Christmas, we have re-decorated, de-cluttered and will have the place back on a market with a new estate agent in March.

Fingers crossed for you.

Beats85

CarrieVS wrote: »

If I was buying primarily for financial reasons I might reconsider but I'm buying because I want a home I can call my own, and Brexit isn't going to make me put my life on hold.

I am of the exact same opinion I am buying for a home. Just hoping I can shift mine so I can upsize.

tori.k

Next door went on the market on Jan 4th sold on Jan 7th for currently full asking price. No real change to how fast houses are selling down here just not a lot going onto the market.

Oxon

Yes, accepted an offer on my house just before Christmas for over the asking price, and offered asking price on the house I’m buying a couple of weeks ago. Prices are holding up here, just hoping the FTB of my house doesn’t get nervous before we exchange contracts...