House Buying Is More Stressful Than Divorce, Death or Bankruptcy

[Figaro]

I've been doing that so far! Unfortunately they're waiting for stuff from the vendor's solicitor so I might give them a day off from being harassed tomorrow, since they probably can't do much about that.

[Livilla]

That is Mr L's approach also, PriMov. It works really well for him. I can't bring myself to harrass people like that, though

Inflated expectations are the worst, you often have to wait for ages too until the vendors see sense. We paid 30% less for our house than its original market price, but bought it 8 months after it first went on the market - the vendors needed several months of no offers and dropping the price a couple of times before it would have been acceptable. So we bided our time (the fact that we couldn't have possibly afforded it at the higher prices was obviously also a factor ). We still think we overpaid a bit, too, but did so knowingly to make sure we got what is our dream house, pretty much.

[Lucy666]

We had similar. Our house had been on the market 17 (!!) months which is unheard of in this town. The vendors had a massively inflated sense of its condition (and therefore worth) and had turned down a few really good offers. I've since met two people who tried to buy this house but refused to pay the silly asking price. I think the EA had lost their patience by the time we came along and actually found a house for our vendors to go and view to tempt them into selling. Luckily for us it worked and in the end I think we got a good deal - a smaller house on our road has just sold for almost 100k more than what we paid. It was in a nicer condition, but only just.

[Estrella]

I think that's the approach we are going to take. It's been on for 2.5 months. One offer which they rejected (which was higher than we would make). But we were the only ones who showed up to the open home last weekend.

Despite us saying we weren't going to actively look, MrE found another place we are going to see tomorrow. Same size of land (just under an acre) but a little bit further out from where we are just now so would add a little commute time on. It's had an offer accepted by the vendor, but the buyer has had the contract since before Christmas and for some reason hasn't countersigned so the agents are continuing to market it...

[Figaro]

Our mortgage has been approved! It actually took 2 weeks from the initial acceptance of our offer and our telephone call to the broker to find out about our mortgage options. It's remarkable really that it took 2 weeks given that during that 2 weeks the lender managed to accidentally cancel our application - apparently the underwriter to whom our case was assigned was dealing with more than one case (well, obviously), and some other people decided to withdraw their application. But instead she withdrew ours. Cue alarming letters in the post, the valuation (which the vendor had taken the day off work for) being cancelled, etc etc. The broker was useless and we had to phone the lender ourselves to sort it.

The draft contract arrived with our solicitor on Friday so hopefully they'll be well underway with that by Monday. She rang me to tell me when it got there, so clearly my daily harassment is working

[Derek Nimmo]

Good news! Hope the next bit goes smoothly.

[Derek Nimmo]

So...mine has just gone on the market. According to the agent's blurb, it's "organic" And they've got a grocer's apostrophe in the description dammit. One viewing (cash buyer) booked for Thursday, and an open day type shiz planned for 6th Feb but hopefully ( til I get cramp) it will have gone by then.

It's on the market, because I've got an offer in on a place which the vendors won't say yay or nay to until mine is sold. It's completely different from anything I've ever lived in, a 70s/80s - I'm not quite sure which - build, but top floor with amazing views and no frigging seagulls nesting on the roof. We shall see.

[Angus]

Exciting, Del. Everything goes on open days round here.

A house that looked ideal went on the market Thursday but they were only doing viewings Saturday and as we were away couldn't go.

And the house I love is back on the market, but OIEO what 2 EAs have told me it's worth. We already offered 10k over that but they said no. I think they're holding out for their original asking price but going a different way about it. I love it but can't pay 50k over what it's worth.

[Cerise]

I've booked a viewing on a house here. Viewings start on the 6th Feb and we're in first at 10am. It's top budget and I've known it's coming since before Christmas. It looks lovely and is in a great location but may be unaffordable so I'm trying to look for the negatives like the limited off street parking and small kitchen.

We've had around ten viewings on our house and two offers that aren't in a position to proceed (one would have been told to big off anyway but the other would have had their hand ripped off!).

[Rebel Pebble]

Ooh! Good luck Del and Cerise.

And I hope the vendors see sense Angus.

[Figaro]

Why do people do that, Angus? I know everyone wants more money but if the EAs are saying it's not worth it, why bother? I hate OIEO anyway.

Good luck Cerise and Del!

[Angus]

Good luck, Cerise. Unfortunately everything I like seems to be top budget

Probably because they can round here, Fig. There's very little on the market and it gets snapped up within days if not hours. Or it hangs around for months, but then you have to wonder why. But the EA keep telling me houses are overpriced. Specific ones I mean, not just generally. They must be telling others the same and yet they still sell.

I doubt we'll be able to move before the new stamp duty rules anyway now so there's not such a rush.

[Livilla]

One viewing (cash buyer) booked for Thursday, and an open day type shiz planned for 6th Feb but hopefully ( til I get cramp) it will have gone by then.

Ooh, Del, best of luck. In a market like Brighton though it might be worth having an open day just to see if you get competing offers? You may not be so bothered about trying to get the best price, but they do work well in a hot market with not much around - and viewers are bound to fall in love with your place?

And for you too, Angus. Hopefully if you're not in a rush your vendors will have a chance to adjust their expectations?

[Derek Nimmo]

I am meant to be having an open day next Saturday (when I'm away) for just that reason Liv, but had said that people could come in before then if they didn't want to wait.

The cash buyer liked it (cautiously) and is thinking about a second viewing but in the meantime there are 10 viewings arranged for tomorrow. Ten!! All back to back and we're just going to have to go out for a walk and a long lunch. Worse problems at sea eh?

Any news Angus?

[Angus]

Ten is great, Del. Hopefully the EA can get them all bidding against each other.

The dream house has an open day on the 20th. I've sort of written it off TBH, but we'll see.

One area we are looking is where I grew up and the EA is an old school friend, he's rung me today with a house that isn't yet on the market but they've agreed I can have a one off viewing before they do an open house. It needs some work but I'm not m bothered about that. It's got a massive garden, 4 beds and is 120k less than dream home do I need to at least look.

[Derek Nimmo]

You certainly do! Get in there asap.

I'd be very happy with asking price and someone in a proceedable position really - I think it's already on at slightly-above-fair

[Angus]

Good work. Is the one you like still available?

[Ella77]

Wow, Derek! Good luck with that.

[Derek Nimmo]

Yep, the one I want is still there. Which is making me think there's something wrong with it!

Ta for the good wishes - they may just all be rubberneckers of course.

[Livilla]

You actually have to put your name down for a slot at open days here, though (back home you can just turn up) so I think most people who come to view are interested. it goes well. I am sending bidding war vibes your way...