Is anyone moving now?

[Sheets Tabuer]

Dsdans said:

What sort of property?

I hear 2/3 beds selling like hotcakes still.

A few 4/5 beds I'm watching are just sat

3 bed semi, lots of viewings booked, all seem to be late 20s with couple of kids

Do we accept the first offer, don't want weeks of pissing around and people looking in my cupboards.

[AB]

As an aside, the rental market is also totally bonkers round here. Photos taken of ours on Wednesday, on RM on Thursday and by the end of Thursday we had 41 people who wanted to view. EA wouldn't let anyone put in an application until they had viewed. We had friends asking on behalf of friends, people knocking on the door. It's been taken off the market, viewings being done while we are away and we get to cherry pick the applicants we want to meet when we're back and make a decision.

There really are a lot of people who can't afford to buy and the sad thing is the rent is not far off 50% more than a mortgage with a 10% deposit would be.

[33q]

We have accepted an offer on our cottage that we have rented out for many years.

Went to see our solicitor to pass over documents and work through the details. She said that sales are going through really slowly and it could take 20 weeks! I was hoping for 12 to 14 at max.

How long are people taking to complete after going SSTC?

Our change is quite short. Investor buying our buyer's property. We have no onward chain.

[talksthetorque]

3 in our chain ( plus anther chain, but that;s ahead of ours,
Offer accepted mid march, expected completion end of July.
I think thisis because of searches further up the chain and a few questions.

[beanoir78]

Sheets Tabuer said:

Dsdans said:

What sort of property?

I hear 2/3 beds selling like hotcakes still.

A few 4/5 beds I'm watching are just sat

3 bed semi, lots of viewings booked, all seem to be late 20s with couple of kids

Do we accept the first offer, don't want weeks of pissing around and people looking in my cupboards.

It’s not about first offer or highest price, you will suffer so much less if you accept an offer from the right buyer.

Young buyers in my experience have been our worst, generally higher leverage buyers, fussy, believe everything their solicitor tells them and won’t make common sense decisions.

[beanoir78]

33q said:

We have accepted an offer on our cottage that we have rented out for many years.

Went to see our solicitor to pass over documents and work through the details. She said that sales are going through really slowly and it could take 20 weeks! I was hoping for 12 to 14 at max.

How long are people taking to complete after going SSTC?

Our change is quite short. Investor buying our buyer's property. We have no onward chain.

Short chain here, currently at 18 weeks, easily another few to go.

The days of completing in less than 10 weeks are a rarity.

[Sheets Tabuer]

beanoir78 said:

It’s not about first offer or highest price, you will suffer so much less if you accept an offer from the right buyer.

Young buyers in my experience have been our worst, generally higher leverage buyers, fussy, believe everything their solicitor tells them and won’t make common sense decisions.

Got another 20 viewings booked next week so guess I'll have a clearer picture.

ETA 3 viewings 3 offers, all the same figure.

Edited by Sheets Tabuer on Saturday 25th June 11:15

[Luke.]

Any central London estate agents on here?

[beanoir78]

Sheets Tabuer said:

beanoir78 said:

It’s not about first offer or highest price, you will suffer so much less if you accept an offer from the right buyer.

Young buyers in my experience have been our worst, generally higher leverage buyers, fussy, believe everything their solicitor tells them and won’t make common sense decisions.

Got another 20 viewings booked next week so guess I'll have a clearer picture.

ETA 3 viewings 3 offers, all the same figure.

Edited by Sheets Tabuer on Saturday 25th June 11:15

This is the stage where a good EA is worth their money (if they ever are). You’ll now be playing a lottery, which offer is the best and most likely to be up in a completion.

[cayman-black]

Sheets Tabuer said:

Got another 20 viewings booked next week so guess I'll have a clearer picture.

ETA 3 viewings 3 offers, all the same figure.

Edited by Sheets Tabuer on Saturday 25th June 11:15

Bloody hell , I would up the price and reduce the wear on the floor.

[Sheets Tabuer]

I live in the midlands, just had another offer so I'm wondering if it was up too cheaply.

[edc]

If you're getting multiple offers all in the same range and have plenty more viewings then let the agents drum up the interest and you might be in a beat and final position which could eek out a bit more.

[heisthegaffer]

Luke. said:

Sheets Tabuer said:

Put my house up, got 11 viewings booked, 1st one offered the asking price.

Put my 2 bed flat on the market, London N1 on the canal, and barely had a sniff of interest. I think there's been 5 viewings since the beginning of May and not even a derisory offer.

My sister is selling her rental 1 bed mainsonette North of London and when I queried the 1.5% fee the EA is charging to sell it, he said it is impossible to sell flats as everyone wants a garden of some description following the lockdowns.

Good luck with your sale.

[Calza]

Flat went on the market on Monday, had 4 viewings so far.

I'm told flats don't sell so fingers crossed I get lucky!

[C70R]

I thought the market was dead? Where are the soothsayers who were predicting a crash and zero demand weeks ago?

[colin79666]

All the paperwork is signed so my sale should complete on Tuesday. Amazing how much stuff I’ve accumulated in the 3 years since moving here, been packing for days!

I’ll sort of be homeless for July then should get into the next house in August.

Since marketing mine in April there have been another couple of houses the same style on my estate that have gone up for sale. In every case it has gone under offer in under 2 weeks so the market for a 3 bed end terrace still seems strong in these parts.

[skwdenyer]

C70R said:

I thought the market was dead? Where are the soothsayers who were predicting a crash and zero demand weeks ago?

I’ve just missed out on a house. Went to sealed bids. Offered 20% over asking, seller selected an offer of the same amount as mine, but which was (allegedly) was all cash (I say allegedly, as they didn’t ask for proof of finance / funds, so I could have lied and ticked “cash” on the tender form…).

Gutted; dream home, etc.

Conversely another house I viewed last week has dropped 30% since listing, and others are showing lower but still punchy reductions.

I think the days of “think of a number” asking prices may be over; it’s dependent upon the value proposition (around here, at least).

But very hard to read.

[daos]

daos said:

After a fair bit of wrangling today we have agreed a completion date with the chain. We were feeling a bit stuck between our vendor insisting to complete before the weekend of 9th of July and our buyer wanting two weeks between exchange with slow solicitors, but we managed to agree a date and just need to exchange on Friday. The end is in sight!

So we exchanged on the sale of our house but the exchange of our purchase didn't happen. We have already moved out so it's not an issue in terms of breaking the change. We accepted the offer mid April, so very pleased with it going through so quickly. Hopefully we will be exchanging on our purchase Monday or Tuesday, it's very annoying that they didn't exchange as they were pushing us to complete as soon as possible which was pretty stressful.

[Sheets Tabuer]

Well that was a hectic day, further two offers one nearly 10% over asking price, got 7 more viewings booked for Monday.

[normalbloke]

C70R said:

I thought the market was dead? Where are the soothsayers who were predicting a crash and zero demand weeks ago?

You scared them away with your mithering, whingeing and moaning about taking it elsewhere. Some would say..