Is anyone moving now?
Discussion
smiley_boy2501 said:
Evoluzione said:
Any chance of selling your house quickly and getting out regardless of having a new home to go to?
Happy to do so but the buyers of our house are aware we haven't found anywhere and seemed happy with the situation. If they ask we can negotiate.In my recent experience only:
You need to be 100% that they are cash as many aren't. Someone official will be able to check that. Although even if they are:
You looking for a house and buying it could take so long that their circumstances will change.
The shorter the chain, the easier and quicker it is. If you can be the one to break that chain then do it.
If you go to a vendor and explain you're living in rented accom or with Mum N Dad etc and you have cash they'll bite your hand off, you may even be able to negotiate a better price.
It'll take you a while to read back through my posts, but they show you what can happen.
It is a gamble of course and could go either way, but you can stack the odds in your favour. We were going to sell up and then go looking, but the perfect place came up too soon so we tried to grab it as there was (and hasn't been since) nothing else like it on the market.
It was during lockdown 1 when I found it, still haven't bought it, it's taking it's toll on everyone concerned.
Edited by Evoluzione on Tuesday 16th February 11:52
Evoluzione said:
smiley_boy2501 said:
Evoluzione said:
Any chance of selling your house quickly and getting out regardless of having a new home to go to?
Happy to do so but the buyers of our house are aware we haven't found anywhere and seemed happy with the situation. If they ask we can negotiate.In my recent experience only:
You need to be 100% that they are cash as many aren't. Someone official will be able to check that. Although even if they are:
You looking for a house and buying it could take so long that their circumstances will change.
The shorter the chain, the easier and quicker it is. If you can be the one to break that chain then do it.
If you go to a vendor and explain you're living in rented accom or with Mum N Dad etc and you have cash they'll bite your hand off, you may even be able to negotiate a better price.
It'll take you a while to read back through my posts, but they show you what can happen.
It is a gamble of course and could go either way, but you can stack the odds in your favour. We were going to sell up and then go looking, but the perfect place came up too soon so we tried to grab it as there was (and hasn't been since) nothing else like it on the market.
It was during lockdown 1 when I found it, still haven't bought it, it's taking it's toll on everyone concerned.
Edited by Evoluzione on Tuesday 16th February 11:52
I'd be taking the cash and into a rental ASAP and then you are in a great position when you find something.
Shnozz said:
This. In spades.
I'd be taking the cash and into a rental ASAP and then you are in a great position when you find something.
I did this, allowed me to make a credible offer for my current house. Said I was happy to break chain if needed. Ended up with a week at my parents, but meant there was less stress on moving day and my ability to fit with the timescale of the person I was buying from out me ahead of other offers. I'd be taking the cash and into a rental ASAP and then you are in a great position when you find something.
Us too.
Sold during lockdown 1. Rented from June after completion.
Missed a place in August during silly phase.
It sold for above asking price. It fell through and came back on in December.
Got it for £10k under asking and have since knocked another £6k off for damp work that has actually only cost £1000.
We are here now decorating and sorting it. I’ve just given a months notice with my landlord today. Removals booked for Thursday 11th March, with carpets booked a few days before.
No worries and although we have a lot to do it’s pretty relaxed.
Definitely the way to go.
Sold during lockdown 1. Rented from June after completion.
Missed a place in August during silly phase.
It sold for above asking price. It fell through and came back on in December.
Got it for £10k under asking and have since knocked another £6k off for damp work that has actually only cost £1000.
We are here now decorating and sorting it. I’ve just given a months notice with my landlord today. Removals booked for Thursday 11th March, with carpets booked a few days before.
No worries and although we have a lot to do it’s pretty relaxed.
Definitely the way to go.
Edited by marky911 on Tuesday 16th February 13:04
marky911 said:
Us too.
Sold during lockdown 1. Rented from June.
Missed a place in August during silly phase.
It sold for above asking price. Fell through and came back on in December.
Got it for £10k under asking and have since knocked another £6k off for damp work that has actually only cost £1000.
We are here now decorating and sorting it. I’ve just given a months notice with my landlord today. Removals booked, carpets booked a few days before.
No worries and although we have a lot to do it’s pretty relaxed.
Definitely the way to go.
Congratulations on that result! Sold during lockdown 1. Rented from June.
Missed a place in August during silly phase.
It sold for above asking price. Fell through and came back on in December.
Got it for £10k under asking and have since knocked another £6k off for damp work that has actually only cost £1000.
We are here now decorating and sorting it. I’ve just given a months notice with my landlord today. Removals booked, carpets booked a few days before.
No worries and although we have a lot to do it’s pretty relaxed.
Definitely the way to go.
Thanks for all the replies. It's only been 24 hours since we've accepted the offer so I'm not rushing into any decisions however we have a house in mind that we like and will proceed this weekend all being well. Not sure on their position though but I'd be surprised if they aren't the top of the chain after us.
I'm quite happy to proceed whichever way is easiest for everyone involved though tbh so if the cash buyers demand we move then fine by me.
I'm quite happy to proceed whichever way is easiest for everyone involved though tbh so if the cash buyers demand we move then fine by me.
01WE01 said:
Congratulations on that result!
Thanks.As ever, everything relies on a little bit of luck, so I’m glad it worked out.
Definitely a massive bonus having no chain. My wife and I were renting with funds in place and the seller moved out when she had planned to anyway, even though her sale fell through. So the house was vacant.
The whole deal was done in 2 months and with a month spare of the stamp duty window. Phew.
We sold and found somewhere early March. Small chain. All searches back, queries being answered etc
Coventry BS - porting our current mortgage to nee house, keeping same amount so no additional borrowing and house we’re buying is slightly cheaper (mortgage is small LTV)
Chase them yesterday (6 week since application) to find it’s been rejected because I had furloughed myself even though we have other income and my wife’s salary meets affordability calculator for the loan amount. Have prepared case file for them to review. Never any mention of furlough being an issue however recent research says new customer with furlough will be rejected. Existing customer will be considered on case by base basis so I’m praying that initial underwriter just saw furlough claim and rejected it without considering existing customer, and easily affordable, with no changes on the loan.
Most stressful morning ever. Feared whole chain would collapse and kids moving nee schools too
Coventry BS - porting our current mortgage to nee house, keeping same amount so no additional borrowing and house we’re buying is slightly cheaper (mortgage is small LTV)
Chase them yesterday (6 week since application) to find it’s been rejected because I had furloughed myself even though we have other income and my wife’s salary meets affordability calculator for the loan amount. Have prepared case file for them to review. Never any mention of furlough being an issue however recent research says new customer with furlough will be rejected. Existing customer will be considered on case by base basis so I’m praying that initial underwriter just saw furlough claim and rejected it without considering existing customer, and easily affordable, with no changes on the loan.
Most stressful morning ever. Feared whole chain would collapse and kids moving nee schools too
Turn7 said:
We are creeping ever closer......
Seller is just awating the local search, and if all good, then us and our buyer are ready to rock.....
Negative fact - since giving my email to a multitude of estate agents, I am being bombarded with 30/day scam emails...Norton subs out of date type stuff.
Luckily, I will ditch this email when we finally get moved, but it aggravating that someone has clearly sold our details.
I've just had this after a Zoom meeting with an agent. And only one agent. Are the scam e-mails all coming through in designery type floral purple text??????? Good job I've used a burner e-mail for this transaction as it has gone from 0 spam to 8 spam in the three hours after Zoom to 30 per day.Seller is just awating the local search, and if all good, then us and our buyer are ready to rock.....
Negative fact - since giving my email to a multitude of estate agents, I am being bombarded with 30/day scam emails...Norton subs out of date type stuff.
Luckily, I will ditch this email when we finally get moved, but it aggravating that someone has clearly sold our details.
SweptVolume said:
Little bit tangential, but here's my current situation.
Currently live in a period 1 bedroom house, which I bought on my own 3 years ago. Around the same time I was buying the house, I met someone and as of last July, we are engaged to be married.
We've set the date at June 2022, but by that time, we will be hitting mid thirties, so chances are we will try for a family shortly after (apologies for the mental image
). The 1 bed house is not going to do too well once there's three of us so it seems sensible to move house this year before the wedding starts consuming all our time and money.
With the capital I have in the house and our combined salaries, we can step up to a reasonable starter family house (your typical modern three bed estate type of thing).
Sadly my grandmother passed away last August, but I am fortunate enough to be inheriting a proportion of her house sale. I'm keen not to buy something I don't really want only to then have enough capital to afford something I do (detached, bit of character, garage, decent garden). I know she'd want me to use the money to get the best home I could (there's a little horned version of me on one shoulder telling me I should buy a 718 GTS and other frivolous things) and this thread has convinced me that moving house unnecessarily is a bad idea!
So we're waiting for a bit, which is fine. Grandma's house went on the market last September and an offer was accepted in October. We are top of a chain of three, so not too complicated. My dad is handling the sale, and - perhaps regrettably - has decided to use an online conveyancer. I think his attitude is that he's in no real hurry, and that high street solicitors love to procrastinate at the client's expense, both of which to a point are true.
Last time I spoke to him, his buyers were having to sort something out for their buyers (something to do with the drains), but he couldn't get any update from the EA or conveyancers. They asked for confirmation on various details, which he sent over (twice), without any acknowledgment. Searches and surveys are all done, so we're quite far down the conveyor belt now.
I had thought that it's in everyone's interest to get the sale complete within the next 6 weeks except ours, and that they should be making more of an effort, but reading this thread, I realise that if the stamp duty window passes, they may not be able to afford the house and the chain may collapse, which would mess up the timeline that I have rather foolishly set out for myself.
I really think we (technically "they", as I'm, not involved in any meaningful way) need to be suggesting exchange of contracts soon. I'm not even sure if the contacts are written up yet..?
And this is all before we get onto the actual sale of our house and purchase of a new one. Yay...
Sorry about your grandmother, your post is like the circle of life, grandmother passed, baby planned!Currently live in a period 1 bedroom house, which I bought on my own 3 years ago. Around the same time I was buying the house, I met someone and as of last July, we are engaged to be married.
We've set the date at June 2022, but by that time, we will be hitting mid thirties, so chances are we will try for a family shortly after (apologies for the mental image
). The 1 bed house is not going to do too well once there's three of us so it seems sensible to move house this year before the wedding starts consuming all our time and money.With the capital I have in the house and our combined salaries, we can step up to a reasonable starter family house (your typical modern three bed estate type of thing).
Sadly my grandmother passed away last August, but I am fortunate enough to be inheriting a proportion of her house sale. I'm keen not to buy something I don't really want only to then have enough capital to afford something I do (detached, bit of character, garage, decent garden). I know she'd want me to use the money to get the best home I could (there's a little horned version of me on one shoulder telling me I should buy a 718 GTS and other frivolous things) and this thread has convinced me that moving house unnecessarily is a bad idea!
So we're waiting for a bit, which is fine. Grandma's house went on the market last September and an offer was accepted in October. We are top of a chain of three, so not too complicated. My dad is handling the sale, and - perhaps regrettably - has decided to use an online conveyancer. I think his attitude is that he's in no real hurry, and that high street solicitors love to procrastinate at the client's expense, both of which to a point are true.
Last time I spoke to him, his buyers were having to sort something out for their buyers (something to do with the drains), but he couldn't get any update from the EA or conveyancers. They asked for confirmation on various details, which he sent over (twice), without any acknowledgment. Searches and surveys are all done, so we're quite far down the conveyor belt now.
I had thought that it's in everyone's interest to get the sale complete within the next 6 weeks except ours, and that they should be making more of an effort, but reading this thread, I realise that if the stamp duty window passes, they may not be able to afford the house and the chain may collapse, which would mess up the timeline that I have rather foolishly set out for myself.
I really think we (technically "they", as I'm, not involved in any meaningful way) need to be suggesting exchange of contracts soon. I'm not even sure if the contacts are written up yet..?
And this is all before we get onto the actual sale of our house and purchase of a new one. Yay...
Your father is wrong about high street solicitors, the online conveyancer is unlikely to be as good and not really much cheaper.
Plus the fact that you are not in a hurry to sell, doesn't mean that your buyer isnt in a hurry to buy, problems with our sellers conveyancer being slow and obstructive nearly caused us to withdraw, i ended up giving them a 24 hour deadline to stop dicking about and provide the replies to enquiries properly
marky911 said:
01WE01 said:
Congratulations on that result!
Thanks.As ever, everything relies on a little bit of luck, so I’m glad it worked out.
Definitely a massive bonus having no chain. My wife and I were renting with funds in place and the seller moved out when she had planned to anyway, even though her sale fell through. So the house was vacant.
The whole deal was done in 2 months and with a month spare of the stamp duty window. Phew.
Hopefully all wrapped up in a week or so!
SweptVolume said:
My dad is handling the sale, and - perhaps regrettably - has decided to use an online conveyancer. I think his attitude is that he's in no real hurry, and that high street solicitors love to procrastinate at the client's expense, both of which to a point are true.
I don’t necessarily think it’s at the clients expense (we paid a fixed fee for our sale and purchase) - the firm were very good.However... start of the chain used a high street firm, complete rubbish. Weeks in unjustified delay, other than they claimed not to have a document which the lender had mailed them a week before.
There are some very good conveyancers out there but it also seems to be an area where useless solicitors can linger.
Tony Angelino said:
I have the contract to sign and return, hopefully tomorrow for exchange and Monday to complete. 4 in the chain (I am the bottom), fairly straight forward but has still taken since early November.
Our contracts were all signed by our solicitor acting under an authorisation from us. blueg33 said:
Tony Angelino said:
I have the contract to sign and return, hopefully tomorrow for exchange and Monday to complete. 4 in the chain (I am the bottom), fairly straight forward but has still taken since early November.
Our contracts were all signed by our solicitor acting under an authorisation from us. The owner interview seems to be occurring more and more in the £500K+ segment. It enables (for example) the current lady of the house to psychologically sell the lifestyle to the prospective lady of the house - eg. “Waking up in this house is a dream, because my two dogs love it when the rising sun warms them, and I never tire of that beautiful way to start the day watching the sunrise and enjoying the closeness with my pets”
(I don’t mean to appear misogynistic, that’s just one example)
(I don’t mean to appear misogynistic, that’s just one example)
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