The nervous wait to exchange....
- Thread starter noj
- Start date
Yeah, i still think we may have got the pricing wrong. All 3 agents all said £350k but i'd have thought even at peak market that would be the top end and would expect a drop from there.
I wonder if it may have been a better strategy to say offers over 325k since we were looking to get 325-330. Just don't know if it's too early to make the change without looking negative, and whether we're just getting in our own heads which is affected by the market rather than anything else.
Associate
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We are moving. Thought it would be fairly quick as only 1 set of buyers below us and 2 above in the chain. It's never that easy unfortunately and I'm getting a bit squeaky around our buyers with the constant bad news on rates.Yeah, most likely. I shall single handedly move it forward with regular moans
That said, it's all gone mad this week as top of the chain have suddenly said their mortgage offer expires soon so now everyone is suddenly able to get going
Associate
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It's got nothing to do with the agent (or seller for that matter) who you appoint as an surveyor.
Unless they give you a good reason you should go with who you want to use.
Totally agree. Get the surveyor 'you' want.
We are moving. Thought it would be fairly quick as only 1 set of buyers below us and 2 above in the chain. It's never that easy unfortunately and I'm getting a bit squeaky around our buyers with the constant bad news on rates.
That said, it's all gone mad this week as top of the chain have suddenly said their mortgage offer expires soon so now everyone is suddenly able to get going
Yeah, that's concerning me too. Who wants to buy a house when there's so much talk of an impending crash!Whether it happens or not, it's off putting.
Worst thing for us is that if anything the market in Spain is going up so as things slide here properties we'd have wanted in Spain are getting away from us. I have considered sticking ours up for rent for 2-3 years and then renting in Spain, but that comes with it's own set of issues really which i'd rather avoid.
This has been annoying me somewhat recently (as I'm selling!).
There's some people in social media convinced this will crash 30%-50%, because they're in the industry, on the 'coal-face', speaking with agents, and they absolutely know things are bad yet they don't produce any of that evidence. Sure we can all look at historic events and draw correlations but the major lenders do not see such a crash happening right now. There's definitively an effect of interest rates damping the market and house prices are falling (and rising in some areas) but it's not a crash.
You get people hoping for a crash (and then spreading FUD) because they feel entitled to live in a big house in a nice area on a single income at the age of 20....just doesn't work like that.
Soldato
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Lenders would not tell you if they did see a crash coming.
I’m pretty sure they’d be pulling mortgages beyond a certain LTV if they did as they don’t want to be stuck with a load of people in negative equity defaulting.
I can't see a real crash happening.
I expect on average across the country we'll see some minor drops and corrective stagnation.
I bought almost a year ago and I still get alerts for houses in my previous budget from right move and I'm not seeing anything to suggest I paid over the odds compared to today's prices.
I've seen more reductions and relisted properties recently but they are ones that I'd consider were a bit overpriced to begin with.
If you're buying a place to live in rather than keep for 5 years to flip for a profit, I wouldn't be at all worried.
I expect on average across the country we'll see some minor drops and corrective stagnation.
I bought almost a year ago and I still get alerts for houses in my previous budget from right move and I'm not seeing anything to suggest I paid over the odds compared to today's prices.
I've seen more reductions and relisted properties recently but they are ones that I'd consider were a bit overpriced to begin with.
If you're buying a place to live in rather than keep for 5 years to flip for a profit, I wouldn't be at all worried.
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Soldato
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Sure they are already pulling mortgages left right and centre ... they just won't ever say they expect a crash.
Soldato
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Also, the housing market is overdue a crash, it's just hard to predict when it will happen, because the banking sector and government will do everything they can to try and stop it happening, to protect their own interests, but there's only so long you can do this by printing money from thin air, as the house prices become unrealistic for people.
Well tonights viewing seemed positive. They came round, really interested and could hear them arranging furniture whilst we left them to themselves. They were pretty upfront saying they'd stick and offer in tonight and then messaged to ask if they could pop back with their daughters to show them around.
So now just waiting for the phone to ping! They seem to be cash buyers which bodes well as not impacted by interest rates. However they've got a house to sell as it'd just fallen through, but it seems like it's a good home they're selling and should move quick.
So now just waiting for the phone to ping! They seem to be cash buyers which bodes well as not impacted by interest rates. However they've got a house to sell as it'd just fallen through, but it seems like it's a good home they're selling and should move quick.
Update - Offer in
It's a funny time, as we did drop to offers over £325. With the idea that 330k-335k was where we would like, but also bearing in mind that before the agents came out our expectation was £310k-£320k
Offer is in bang on at £325k which is partly why i dislike the offers over mentality (Not even an Arsenal tactic of £325,001 - Joke probably only applies to Arsene Wenger fans...). Luckily Strike have a "Negotiator" as the go-between. When we bought this house the negotiation was direct and i'm absolutely rubbish.
The other dilemma is that because we've had some chats back and forth on the messaging portal. So now i don't know whether to message and acknowledge the offer, or just leave it for Strike to do their thing.
It's a funny time, as we did drop to offers over £325. With the idea that 330k-335k was where we would like, but also bearing in mind that before the agents came out our expectation was £310k-£320k
Offer is in bang on at £325k which is partly why i dislike the offers over mentality (Not even an Arsenal tactic of £325,001 - Joke probably only applies to Arsene Wenger fans...). Luckily Strike have a "Negotiator" as the go-between. When we bought this house the negotiation was direct and i'm absolutely rubbish.
The other dilemma is that because we've had some chats back and forth on the messaging portal. So now i don't know whether to message and acknowledge the offer, or just leave it for Strike to do their thing.
If you can speak to the buyer directly to reassure them it helps a lot with the stress of uncertainty for both parties. .. If you're happy with the offer then plough ahead.
No need to delay things and let 3rd parties cause delays or bad sentiment by trying to extract a few more grand out of the situation.
If you are confident you can get an extra 5k that's a different story, but it's not worth ******* off a good buyer for that amount because they will walk away unless they are desperate.
No need to delay things and let 3rd parties cause delays or bad sentiment by trying to extract a few more grand out of the situation.
If you are confident you can get an extra 5k that's a different story, but it's not worth ******* off a good buyer for that amount because they will walk away unless they are desperate.
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Yeah. That’s kind of what I’m thinking. It’s fairly late so I think I’ll try and speak to Strike in the morning and then get advice.
I’m not sure anyone expects a response immediately when it’s such a big decision.
For those who’ve accepted offers from people who haven’t sold. Is there a reasonable timeframe to put in as a deadline?
They like the house, they like the price & they made the offer. You sound confused tbh. You listed a price, you got the price & now it sounds like you're flapping over if to accept?
Given your situation if I were you I wouldn't communicate the buyer directly, there's no benefit to it.
Given your situation if I were you I wouldn't communicate the buyer directly, there's no benefit to it.
dlockers
D
dlockers
Ya man, it's all done - presumably they are "pricing in" the risk related to their sale. Are they realistic on shifting theirs quickly?