Is anyone moving now?

Author
Discussion

SIMON67

290 posts

257 months

Wednesday 9th June 2021
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We signed on the dotted line to put our house on the market yesterday. Managing stress is going to be a challenge for me, so have to try to take a relaxed approach to the whole process. Diary is already full with: marketing team, sales team and first viewers this week. Tidy, clean, repeat... Any tips for an inexperienced stress head navigating the process from hell? 😬

Sheepshanks

32,530 posts

118 months

Wednesday 9th June 2021
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fesuvious said:
There's an awful lot less 'for sale' boards around...... And not many 'Sold' left....

I would think it's just me but I've had customers comment on it.
Must be quite depressing if you have a house in the market and it hasn’t sold instantly. There’s three in our village that have just stuck. Two are garden developments (but well established) and fairly high priced. The other is the standard for the village 3 bed link-detached - they sell for around £300K, the one that’s stuck is up for £400K.

Everything else sells almost instantly - even a million quid place on the main road which I thought ‘no way’ when it came on the market. There were 40 SSTC listings for the area on Rightmove but EAs had been leaving them on even when new people had moved in.

Claude455

169 posts

145 months

Wednesday 9th June 2021
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SIMON67 said:
We signed on the dotted line to put our house on the market yesterday. Managing stress is going to be a challenge for me, so have to try to take a relaxed approach to the whole process. Diary is already full with: marketing team, sales team and first viewers this week. Tidy, clean, repeat... Any tips for an inexperienced stress head navigating the process from hell? ??
We’re at Day 98 here, on our third buyers and I’m not stressed at all - because what’s the point?

Sure, if you’ve got some significant interest then it can help to get ‘involved’, and with a previous buyer there was a chance of completing before the end of June and saving quite a few grand then I’d ensure we had weekly updates from all sides, but now that’s not even an option I’m in no hurry so I’m just going to let everyone do their thing in their own time.

What benefit is there to me to get stressed about it all? If we don’t complete then my EA doesn’t get paid, and neither does my solicitor, so it’s in their interest too.

Another poster was going to “go nuclear” at someone. But what does that really achieve? Maybe I’m too laid back but I just don’t really care if we complete on 7th July or 27th August, so long as we do eventually get over the line.

Two previous buyers have pulled out, and that’s their prerogative, I have no power to stop our current buyer doing the same, I’m just grateful that each time we’ve gone back on the market we’ve had loads of interest, viewings and offers.

People will tell you to keep chasing and push hard but if you’re likely to get too caught up in it try and take a more laissez-faire approach and I’m sure it’ll work out. Whatever’s meant to be, will be!

Frik

13,542 posts

242 months

Wednesday 9th June 2021
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Maximus_Meridius101 said:
A 15% deposit probably won’t be seen as golden right now. My deposit is 65%, and that wasn’t good enough for a couple of my first attempts. One was only interested in a cash sale, and was willing to hold out for it too, the other one still thought a buyer with a 65% deposit was too much of a risk for them to engage with. The point about over offering is a good one too. If the lenders surveyor disagrees with the offer, it could mean that either the buyer has to fill the extra gap created, from their own pocket, or renegotiate with the vendor ( good luck with that at the moment).
Yep. We've got 40% so likewise not in a terrible position but offering significantly over to try and win doesn't ultimately seem like a sensible strategy.

The lack of stock is working in our favour in terms of our buyer though. If they pull out they don't have much else to choose from round here and if anything prices have firmed up in the meantime. We'll just have to see how long they can hold on for.

Edited by Frik on Wednesday 9th June 08:15

HRL

3,330 posts

218 months

Wednesday 9th June 2021
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Completed on one sale three weeks ago, complete on another tomorrow and hoping to exchange on our chain today. We’d better as the agreed completion date is next Tuesday.

It’s been ballache the entire way but then I wouldn’t recommend simultaneously selling three properties and buying one to anyone, especially at the moment.


SweptVolume

1,090 posts

92 months

Wednesday 9th June 2021
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Simes205 said:
After 8 months our inherited house finally completed, it had been in the family since 1970.

We are still no closer to our own move which was suppose to exchange and complete 2 weeks ago…..6 months and counting…..stupid bullying agents making up tales to push the sale through.
I'd say you're doing quite well there. After my grandmother died last August, her place went up for sale in September. Sale agreed in a few weeks, very keen buyer, chain of three. Cue February and the chain collapses (buyer's buyer pulls out) and we're back to square one.

House back on sale and another sale agreed within a few weeks. New buyers also keen, but their solicitor keeps findings little issues to slow things down. That the house is on an unadopted road seems to be a real sticking point, and the way the solicitor talks, you'd think that was some great secret they've discovered - it's plain to see and we were quite clear about it from the start.

Last week, they suddenly discovered that some of the old pipes have asbestos lagging, for which they wanted £5k off. Fair enough except they've had this report for months and only mention it now. My dad said he'd have to think about it, knowing full well that if he delays, they have to pay £12k more in stamp duty. They said the lagging would be fine.

They're now in rented because their sale has completed. I cannot for the life of me understand why they aren't jumping up and down to exchange.

But the long and short of it is I don't really want to put my house on the market until I'm in a proceedable state, which requires this inheritance money first, and as others have mentioned, Rightmove is becoming depressingly stale.

So yeah, I've barely even started and it's already such fun...

Sheepshanks

32,530 posts

118 months

Wednesday 9th June 2021
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SweptVolume said:
They're now in rented because their sale has completed. I cannot for the life of me understand why they aren't jumping up and down to exchange.
We sold late FILs house last summer to a downsizing cash buyer who was in rented. Done in 7 weeks (they pushed for 6). Didn't do a survey and their solicitor started asking about missing cerificates etc, some of which we could only answer on a "best efforts' basis. He told her to just get on with it. Some weeks after completion it transipred there was still a charge registered (in error) against the house. Odd how they didn't pick up that pretty significant thing, but they worry about Certs from work 15yrs ago.

If you start being messed around then you have to wonder how motivated the buyer is.

jamm13dodger

141 posts

35 months

Wednesday 9th June 2021
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Claude455 said:
What benefit is there to me to get stressed about it all? If we don’t complete then my EA doesn’t get paid, and neither does my solicitor, so it’s in their interest too.
Is that the case? I assumed that if a sale didnt go through I would still owe the solicitor for the work they had done?

Ronstein

1,347 posts

36 months

Wednesday 9th June 2021
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DaffyT4 said:
I've just had similar with EE. Current owner has EE and has given notice to finish on the day they move out. I wanted to sign up with EE to start the day we move in (same day). Can't be done apparently. I can't place my order until the existing contract has ended, then I face up to 14 days before it's activated, so potentially two weeks with no broadband.

But I can sign up to a BT deal now with no issues, yet BT and EE are the same company!

First time I've had to deal with this after 30 years with Virgin/Telewest and I can't believe how difficult they make it.
We were very fortunate in that the folks we were buying from were very friendly and helpful, so I agreed with them that we would pay their internet bill until we got a new connection. They were on EE broadband and we got BT FTTB installed within a month.

RizzoTheRat

25,085 posts

191 months

Wednesday 9th June 2021
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Frik said:
Maximus_Meridius101 said:
A 15% deposit probably won’t be seen as golden right now. My deposit is 65%, and that wasn’t good enough for a couple of my first attempts. One was only interested in a cash sale, and was willing to hold out for it too, the other one still thought a buyer with a 65% deposit was too much of a risk for them to engage with. The point about over offering is a good one too. If the lenders surveyor disagrees with the offer, it could mean that either the buyer has to fill the extra gap created, from their own pocket, or renegotiate with the vendor ( good luck with that at the moment).
Yep. We've got 40% so likewise not in a terrible position but offering significantly over to try and win doesn't ultimately seem like a sensible strategy.

The lack of stock is working in our favour in terms of our buyer though. If they pull out they don't have much else to choose from round here and if anything prices have firmed up in the meantime. We'll just have to see how long they can hold on for.
Yeah I'm reluctant to bid too far over as this must be a bubble and there's a chance we might have to move again 3.5 years so don't want to over do it. then again prices were already rising quite steeply before covid.
Going to put an offer in today, our agent reckons the asking price is on the upper end of a sensible price for it, thier agent is apparently hoping for a chunk over asking. Our deposit is plenty big enough to cover any difference between the banks valuation and what we'd pay so that shouldn't really bother them, but I can see why a seller would favour someone with a bigger deposit.


Claude455

169 posts

145 months

Wednesday 9th June 2021
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jamm13dodger said:
Is that the case? I assumed that if a sale didnt go through I would still owe the solicitor for the work they had done?
I imagine it differs on a case by case basis, but that’s the agreement I’ve signed up to.

75Black

734 posts

81 months

Wednesday 9th June 2021
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Its been a good 14 weeks and we've finally had the contracts through from the buyers! Now to chase my sellers....I hate chains.

RizzoTheRat

25,085 posts

191 months

Wednesday 9th June 2021
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FFS, Just at the point of putting in an offer when the agent called me back to say the sellers are moving in to a new build which is due for delivery Q4 this year, so want a completion date of 1 or 2 January. Now the dilemma of is it worth bidding and have to wait 6 months, while got knows what happens to house prices, or do we forget it and hope we find something else that we get in to sooner.

D1bram

1,500 posts

170 months

Wednesday 9th June 2021
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RizzoTheRat said:
FFS, Just at the point of putting in an offer when the agent called me back to say the sellers are moving in to a new build which is due for delivery Q4 this year, so want a completion date of 1 or 2 January. Now the dilemma of is it worth bidding and have to wait 6 months, while got knows what happens to house prices, or do we forget it and hope we find something else that we get in to sooner.
We were in this situation, but luckily our vendors decided to move into rented. As our old place was sold too it would have put a huge strain on the chain otherwise. Perhaps ask if they are willing to do the same? Bit unreasonable advertising a house now with no plans to leave for 6 months IMO

Frik

13,542 posts

242 months

Wednesday 9th June 2021
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At least they'd be renting for a fixed period, too. I wouldn't want to do it without knowing you had a house and a date to aim for.

SIMON67

290 posts

257 months

Wednesday 9th June 2021
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Claude455 said:
We’re at Day 98 here, on our third buyers and I’m not stressed at all - because what’s the point?

Sure, if you’ve got some significant interest then it can help to get ‘involved’, and with a previous buyer there was a chance of completing before the end of June and saving quite a few grand then I’d ensure we had weekly updates from all sides, but now that’s not even an option I’m in no hurry so I’m just going to let everyone do their thing in their own time.

What benefit is there to me to get stressed about it all? If we don’t complete then my EA doesn’t get paid, and neither does my solicitor, so it’s in their interest too.

Another poster was going to “go nuclear” at someone. But what does that really achieve? Maybe I’m too laid back but I just don’t really care if we complete on 7th July or 27th August, so long as we do eventually get over the line.

Two previous buyers have pulled out, and that’s their prerogative, I have no power to stop our current buyer doing the same, I’m just grateful that each time we’ve gone back on the market we’ve had loads of interest, viewings and offers.

People will tell you to keep chasing and push hard but if you’re likely to get too caught up in it try and take a more laissez-faire approach and I’m sure it’ll work out. Whatever’s meant to be, will be!
Fair play; sounds like a good attitude to house selling...

RizzoTheRat

25,085 posts

191 months

Wednesday 9th June 2021
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D1bram said:
RizzoTheRat said:
FFS, Just at the point of putting in an offer when the agent called me back to say the sellers are moving in to a new build which is due for delivery Q4 this year, so want a completion date of 1 or 2 January. Now the dilemma of is it worth bidding and have to wait 6 months, while got knows what happens to house prices, or do we forget it and hope we find something else that we get in to sooner.
We were in this situation, but luckily our vendors decided to move into rented. As our old place was sold too it would have put a huge strain on the chain otherwise. Perhaps ask if they are willing to do the same? Bit unreasonable advertising a house now with no plans to leave for 6 months IMO
If I was the seller, I'd want a fair bit extra to bother going to the hassle of moving twice and renting for 6 months. Given the rate house prices seem to be increasing at the moment, and how fast places sell, it seems strange to me to put it on the market so early, unless they're worried about prices crashing in the next few months.

We're currently renting a furnished place, with all our stuff in storage, so obviously keen to move sooner rather than later.

Apparently we could get it written in to the contract that the seller has to pay us 10% if they pull out (this is in NL not UK) which would remove one concern.

If it was our dream house I'd happily wait, but I'd consider this one to be decent but not perfect. There's so little on the market at the moment I'm not sure what the chances are of finding something better before January anyway frown

D1bram

1,500 posts

170 months

Wednesday 9th June 2021
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We've just completed (14th May), after starting the process advertising our old home on the 14th January - can't complain at all and we benefited from the break on SLDT.

It was stressful, but not in the way I anticipated. Our old home was on a desirable street in great area and very well presented, needless to say within a week we had gone to full & final (10 offers) and achieved 15% over asking price. Great.

Except, in an ideal world we wanted to move one street over; much the same just houses are about 1.5-2 times the size. A couple came up and we were on consecutive weeks at the opposite end of the full and final situation. First one, I under egged, fair enough. But the second we were highest bidders... they sold to lower bidder who was chain free (though that transaction is still ongoing I understand!!).

Then there was just nothing which fitted the bill coming up for sale; location but not big enough, or big enough but not the location.

So we looked elsewhere and moved to an area about 15 miles away, we got a great house 400m from the sea front. It's different to where we lived and we miss some things about our old place but this place has many new advantages.

What REALLY stressed me though was;
1. If our sale fell through, could we achieve the same excellent price again? We'd have managed but it would have taken away a lot of the comfort factor
2. If our purchase fell through, realistically there was nothing else coming to market really suitable (in either location).

All worked out anyway, but I was all over the process, and fortunately I had a very good conveyancer.

The market is in a funny place, but certainly here in the North East it seems there is a real shortage of realistically priced truly family sized homes in nice areas; lots of quaint and bit small, plenty of flats, the odd big expensive place and loads and loads in areas you wouldn't really want to leave your car let alone live.

Edited by D1bram on Wednesday 9th June 13:29

Frik

13,542 posts

242 months

Wednesday 9th June 2021
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Has anyone here had any success with a mail drop? We've got a pretty good idea where we want to move to but nothing much is coming up there. Was think of making up 100 or so postcards and dropping through letterboxes.

Any tips welcome. Preferably ones that would avoid pissing off our potential future neighbours before we get there!

bungz

1,960 posts

119 months

Wednesday 9th June 2021
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House came on market on Zoopla at some odd time in the night.

Mrs viewed it this morning.

Bid a hour later and got it at a touch under asking.

Have a feeling if that had gone on right move with a bigger agent we would have had no chance.

Let the fun commence!