Is anyone moving now?

[johnnyBv8]

skeeterm5 said:

We are selling a house in England and buying a farm in Scotland, the two systems couldn't be more different.

Once our buying offer was accepted that was it, no risk of gazumping or any other stuff like that and our solicitor is cracking on. Time from accepted offer to completion is going to be 6 weeks.

Selling.... two offers from cash buyers who turn out not to have any actual cash, one offer from a very nice couple who decided at the point of exchange that they would rather live closer to London. Now back with viewings again.....

Lucky for us, we don't need to sell our house to buy the new one or our dream place would have been lost to us.

It’s only a “code of conduct” between solicitors that avoids gazumping in Scotland though. There’s nothing contractual, and the issue of chains is becoming more common (though not as bad as it sounds like it is in England). We had buyers pull out on two properties, and when we sold our last place the contracts were only concluded 16 hrs before the move, which wasn’t very relaxing!

[C70R]

Mr Whippy said:

New thread title... is anyone selling now?

There seems to be almost nowt around... it’s going to be an odd winter if the SDLT reversion kicks this market activity down further, combined with the usual market slump.

2022 is going to be interesting.

I'm still seeing lots coming onto the market where we're looking, for what it's worth.

[SweptVolume]

Mr Whippy said:

New thread title... is anyone selling now?

I am! Come buy my house. Like a Lotus Elan, it's petite, classic, and pretty.

[Frik]

Frik said:

We did look at a house 5 mins from us last weekend as an alternative plan but balked at paying £250k more for a couple of extra tiny bedrooms and the same living space. It was probably £50k over, mind and also not "immaculate" as claimed.

So despite this being listed at 50-100k over similar properties that have sold in the last year and some decent cracks downstairs and various damp problems to sort, this got several offers over asking. The market is still mad.

[Tigerjed]

The sellers 'solicitors' have just stop responding, even to the sellers themselves. They won't speak to me as I'm not their client and no one else at the firm can tell anyone why the 'solicitor' isn't responding. It's been 4 weeks waiting for them to confirm just basic stuff.

[okgo]

Make sure he’s not been fired or gone on holiday

[Tigerjed]

okgo said:

Make sure he’s not been fired or gone on holiday

That's a good point I will call the firm and double check.

To be honest it's less the time taken, it takes as long as it takes. It's just the sheer unprofessionalism of not managing expectations, a simple out of office email/voicemail would be a nice start.

[DanL]

okgo said:

Make sure he’s not been fired or gone on holiday

Covid is an option too…

[Blown2CV]

Frik said:

I think the pandemic and the eviction rules have also made landlords more wary, not just greed!

well actually i wasn't blaming the landlords and i wasn't saying they were being greedy.

There are a lot of naive dopes knocking about at the mo who think they can just rent a house for 8 weeks or something. Bit thick if you ask me. Stuff in storage and move into an airbnb or something is probably the option, even though it might end up being 3x the price.

Anyway on the landlord thing, it's poss also an element of, if they agree to a stopgap tenant they are fairly likely to end up with their purchase falling through at the last minute and staying put despite someone having signed to move in to the rented place they are meant to be moving out of. I can imagine this is the sort of st landlords can't be doing with.

[Blown2CV]

LooneyTunes said:

skeeterm5 said:

Selling.... two offers from cash buyers who turn out not to have any actual cash

Blame the agents... the number who think “cash buyer” means “someone with nowhere to sell but still requiring a mortgage” is quite scary. Even when they know a mortgage is involved (because they’ve asked for a copy of the mortgage in principle) they will still present as “cash buyer” to the vendor.

to be fair that is what most people generally interpret 'cash buyer' to mean. As long as the buyer has the mortgage agreed, there is no major difference between them and those who fund from their -punchingly irritating deep pockets.

[Flooble]

Blown2CV said:

LooneyTunes said:

skeeterm5 said:

Selling.... two offers from cash buyers who turn out not to have any actual cash

Blame the agents... the number who think “cash buyer” means “someone with nowhere to sell but still requiring a mortgage” is quite scary. Even when they know a mortgage is involved (because they’ve asked for a copy of the mortgage in principle) they will still present as “cash buyer” to the vendor.

to be fair that is what most people generally interpret 'cash buyer' to mean. As long as the buyer has the mortgage agreed, there is no major difference between them and those who fund from their -punchingly irritating deep pockets.

Not convinced by that. For example you will see houses with non-standard construction (unmortgage able) or in need of full refurb (ditto) advertised as "cash buyer only". The agents in that case very definitely mean someone who can buy it without needing a loan secured on the property.

[Blown2CV]

Flooble said:

Blown2CV said:

LooneyTunes said:

skeeterm5 said:

Selling.... two offers from cash buyers who turn out not to have any actual cash

Blame the agents... the number who think “cash buyer” means “someone with nowhere to sell but still requiring a mortgage” is quite scary. Even when they know a mortgage is involved (because they’ve asked for a copy of the mortgage in principle) they will still present as “cash buyer” to the vendor.

to be fair that is what most people generally interpret 'cash buyer' to mean. As long as the buyer has the mortgage agreed, there is no major difference between them and those who fund from their -punchingly irritating deep pockets.

Not convinced by that. For example you will see houses with non-standard construction (unmortgage able) or in need of full refurb (ditto) advertised as "cash buyer only". The agents in that case very definitely mean someone who can buy it without needing a loan secured on the property.

well the whole it being umortgageable thing is likely to discourage those needing a mortgage...

[sjc]

Seeing a definite slow down in the frenzy now in my 10 mile radius of Chelmsford (Essex) area.Several EA’s starting so admit as much and several houses that had chance their arm prices dropping 25/50k having only been on the market 6/8 weeks.
None of the houses I’ve recently viewed over the last 3 weeks have sold,even those that seemingly had the wow factor.

[BigBen]

sjc said:

Seeing a definite slow down in the frenzy now in my 10 mile radius of Chelmsford (Essex) area.Several EA’s starting so admit as much and several houses that had chance their arm prices dropping 25/50k having only been on the market 6/8 weeks.
None of the houses I’ve recently viewed over the last 3 weeks have sold,even those that seemingly had the wow factor.

Around Northampton where I am looking some that were stupidly priced have been reduced despite only having been on a few months. More new stuff is also coming on, although not seeing much that had 'sold' returning to market.

My sale is still going ahead AFAIK so I am going for a spell in a rental.

Ben

[essayer]

We’re now at indemnity #5 and rising

Will this ever end

[Mr Whippy]

Looking at a no chain house, guide price £460k

Seems to be getting interest (we already put a holding offer in at £470k after sneaking a look between viewings yesterday, in area due to checking schools)

Agent rang earlier and said are we still wanting to look around today (our formal viewing) as it’s had a lot of interest already and they’re thinking it might go over £500k.


I’m fairly sure the caller didn’t know we’d already put in an offer, but perhaps their view of strong demand is because we’ve already offered over asking and are a cash buyer (no mortgage)


Very tempted to just make a cash offer to bring it off market now at £500k.

Madness?
Part of the problem of crazy price inflation?

We’ll be homeless in 3 months and this place suits us (subject to contract) perfectly.


Downside as always is if we do this and don’t get it... or even do get it... it sets an even higher precedent for values.


We did similar back in August last year and missed out by £10k, worrying we’d push local prices up. But nothing decent has since come to market so...


Tough time to buy even when you’ve got £500,000 in the bank!

North Yorkshire market... grim up North haha.

[Claude455]

Does anyone have any experience of buying a house in probate?

There’s no point asking how long it will take as the complexity of every estate will be different, I’m just wondering if you ever get an estimated date the probate will be finished/certificate granted.

Or do you just find yourself blindly waiting then suddenly one day it comes through without warning?

[Yidwann]

My village just outside Winchester actually has nothing for sale, everything has sold that comes on the market. I have even been tempted to get mine up and sell if someone was willing to put a daft offer in. I am not looking to move for another couple of years yet, but it has been tempting

[Flooble]

Claude455 said:

Does anyone have any experience of buying a house in probate?

There’s no point asking how long it will take as the complexity of every estate will be different, I’m just wondering if you ever get an estimated date the probate will be finished/certificate granted.

Or do you just find yourself blindly waiting then suddenly one day it comes through without warning?

It's not just the probate per se, it's also dealing with the executors who could be a pain (e.g. they are squabbling over how much they want - 2 want to accept the offer, 1 doesn't etc. etc.)

The actual processing of the probate document that allows the executor to sell the place should be a few months at most, so basically not much longer than the conveyancers would be messing around anyway.

I would be more concerned about the executors, personally.

[Claude455]

Flooble said:

It's not just the probate per se, it's also dealing with the executors who could be a pain (e.g. they are squabbling over how much they want - 2 want to accept the offer, 1 doesn't etc. etc.)

The actual processing of the probate document that allows the executor to sell the place should be a few months at most, so basically not much longer than the conveyancers would be messing around anyway.

I would be more concerned about the executors, personally.

Thanks for your comment.

Fortunately we have no concerns with the executors, our offer was accepted 5 months ago and there’s absolutely no issues on the sale price.

The only factor is waiting for probate.

All I wanted to know is if anyone has personal experience of being given a date of when it might be granted, that’s all.