Buying Selling - Stress...

[Too Late]

Hi all...

Over the last 4 years we have slowly completed a big renovation on our home turning a chalet in to a 4 bed house. (blog is somewhere on here)
We have been looking at the market for a new home over the last 24 months and pretty much got everything finished early this year on the house (the garden being the last part to do).

4 Weeks ago we found an perfect new home so went though the estate agent valuations. We went for a figure which was below the middle of all 4 valuations to try and speed the process up. We also offered on the house we liked at 5% under its value but was rejected since we hadn't sold ours...

Is that normal now?

Anyway, we have had 20 couples view the house in the first 2 weeks without an offer. 2 weeks on, viewings have dried up. We had one couple who were very keen. Well they seemed keen but we found out yesterday, the house we had out hearts set on is under offer by the couple who were keen to "put an offer on ours". The 2 properties are poles apart, ours is completely finished and the other is a shack. but that is neither here nor there

I really thought we wouldn't have an issue selling our house, and i thought that it would be sold well within a month.

I think what made it worse was as the estate agent showed people round, we were there, in the house somewhere, sitting in the study or playing in the garden with our son. Then we would hear from the EA that "the garden cant fit a swimming pool" or "We wanted a 2 en-suites" ...

Selling and buying a pain in the arse....

I just hope if we lose out to the house we want we find something else now.

Anyone else lose out to the house they wanted but found something else?

Nick

[Too Late]

im looking at properties sold in the last few months and think realistically we look on the money in terms of price. But when do you drop the price. I dont want to drop to early..

[Too Late]

Update.
The buyers of the bungalow have had their chain collapse this afternoon so the bungalow is back on and we are thinking of dropping our price to try attract some interest

Funny time at the moment with the market.

Fingers crossed we get some more interested.

[Too Late]

A quick update.

We dropped from 935 to 915
A bit more interest, 2 views last weekend.

An email yesterday summarising the 2 weekend views:
[i]
I have spoken to 1 couple who felt the house although stunning was not quite right for them and possibly a bit more than they want to pay. I believe they may be interested in a another property, which is on the market for £850k - I am keeping in touch with her so will let you know if her position changes.

The other couple, they seem to be showing interest in a house for £875k in about 5 miles out of the village which backs on to fields. Again, I will keep in touch with them to see how they are progressing.

[/i]

We have another booked for this Saturday although they are yet to be on the market.

So, 850k for one a stones throw awayy compared to ours at 915.
65k difference.. Is ours worth that, i think so but i suppose i would say that.

Would an ensuite, utility, study/dinningroom, 4 (real) double bedrooms, cinema/games room is attached to our house and a bigger kitchen dinner be worth an extra 65k?

Edited by Too Late on Thursday 21st September 09:52

[Too Late]

Thanks Tonker.

Interesting on the money point. I haven't thought about it.

Anyway

Here is my layout compared to the one in the road next to us on at 850
Ours (the multiple opening doors are bifolds leading to outside)

Theirs


A house is only worth what someone is willing to pay.

Edited by Too Late on Thursday 21st September 11:32

Edited by Too Late on Thursday 21st September 11:33

[Too Late]

anonymous said:

[redacted]

Interesting. Thanks

I suppose everyone will have their own opinion on finish..

Here are the links, dont be too harsh as there have been lots of blood sweat and tears gone into this build!

Ours
http://www.rightmove.co.uk/property-for-sale/prope...

The Competition
http://www.rightmove.co.uk/property-for-sale/prope...

[Too Late]

anonymous said:

[redacted]

Thanks.

This seems to be the price, a 3 bed chalet sold for 850 down the road and that needs some work on it.

We couldnt settle on curtains, so it was blinds An incorrect order from the supplier means we received double the order and when they didnt mind if we keep them, i fitted them all..

This area has seen a huge rise in prices over the years. It must be hitting the ceiling soon!

[Too Late]

anonymous said:

[redacted]

Here you go Tonker

http://www.rightmove.co.uk/property-for-sale/prope...

ours used to look like this

[Too Late]

Wacky Racer said:

After buying and selling five houses in my lifetime, I would now instruct the estate agent to only send people round to view who are in an immediate position to buy OR can prove they definitely have a sale going through.

It cuts a fair percentage of viewers (timewasters) down, but is worth it in the long run.

The final straw was many years ago when we were selling a beautiful large Victorian brewery master's mansion and on the doorstep the woman said "We have come to look around your home, and if we like it we might decide to put ours up for sale".

I slammed the door in her face and bade her good day...she never put a foot inside the house. ffs!

Sounds like the same viewers coming round this weekend..

[Too Late]

dazmanultra said:

Your house is very nice, good layout and nicely decorated, but for me the garden is too small.

For most people, a purchase at this price point is likely to be their forever home and so they need to be happy that this is all the house they will ever need, which might not be the case.

Thanks, i understand the garden isnt the largest. Its one of the reasons why we would like to move.

[Too Late]

anonymous said:

[redacted]

Yeah, actually i was told the house was purchased more recently (around the last 5yr) for their mother who moved in. She later passed i believe and the owners wanted what they paid for it. Around 800k i think. (sold for 850) Thats why it has taken so long to sell. Its been empty for that period as well which as a buyer at that sum, would worry me.

[Too Late]

Quick update

Last Friday we had a lady view. Her boyfriend viewed it Sunday (he was buying it for her). Cash buyer, showed off his helicopter. Had an offer from them Monday £890,000 (25k below asking). We rejected but due to a cash buyer were happy to meet at £900,000. Said he wanted another viewing in 2 days time. On my way to drop the keys off, i get told hes now offered on another house in another village.

The house down the road next to us has sold for 850k (there or there abouts)
65k between ours and theres.

ARSE.....

[Too Late]

Herbs said:

Ouch - that was less than 3% below asking price and with the market slowing up especially at the upper end, i'm surprised you didn't take that to be honest.

Hindsight.
We had just dropped from 935 to 915. I thought he was been very cheeky and we were warned from the EA about him and his business approach with property

[Too Late]

TA14 said:

So you were upset at missing out on the house that you wanted due to not selling your house, you're considering a price drop but you turned down an off 2.7% below asking. Something doesn't fit there.

It was listed at 935, we dropped to 915. He offered 890. We went back at asking for 900.
Struggling to see what doesnt fit

He showed us his 150 acre estate hes building with 1500 homes, his helicopter. If he wanted the house, i would have expected some negotiation.

As Tonker said, the EA warned us and he even offered to deal directly, not through the EA saying "The EA is a thief and if you were to pass me your mobile we could deal directly"