House Prices #4 Property market, buying and selling

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Ours has been on the market since mid July and we’ve had one offer which ended up falling through and about 5 views (none since September!)

I’m not really bothered atm as I had my son in the living room, but our new neighbours made life hell in the house last summer so it made us want to move

I’m just thinking what’s meant to be will happen.

I wish everyone in this thread moving luck 🍀 🤞
 
Icbaaaa said:
Has anyone ever went through a new build scheme where the developers buy your own home so there's barely any chain?
I've never heard anyone doing this and surely there must be some type of clause or offered lesser than your value?
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Generally you will get a very low price for it well below market value. I've have heard nightmares of being given a market price value and then dropping it significantly right before the end so the buyer either has to pull out or is forced to accept the low offer.
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I have a really horrible feeling out sellers are going to back out right before exchange. They've suddenly become very non communicative with the agent.
 
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We bought our house with a loft conversion already done back in 2001. All compliant (at the time) and generally nothing wrong with it, just needs some updates.

Had someone round yday to give me a quote - 35-40K :ROFLMAO: Perhaps not x
 
Icbaaaa said:
Has anyone ever went through a new build scheme where the developers buy your own home so there's barely any chain?
I've never heard anyone doing this and surely there must be some type of clause or offered lesser than your value?
Click to expand...

We’ve looked into this and the developer we were looking to buy with would offer Home Report value for your home. That might not mean anything to you if you’re not in Scotland! The benefit is more time in your own home while the new one is being built. You could possibly win or lose financially from it, I’ve seen both spoken about.
 
whoonearthisalice said:
We’ve looked into this and the developer we were looking to buy with would offer Home Report value for your home. That might not mean anything to you if you’re not in Scotland! The benefit is more time in your own home while the new one is being built. You could possibly win or lose financially from it, I’ve seen both spoken about.
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Thank you! I'm in Scotland so was worried they would maybe offer less than the home report value. I like the look of some of the new builds but just so worried about some of the horror stories I've seen and heard! I have family who have new builds and are so 50/50 about them. Plus some of the "room" sizes foe 3rd/4th bedrooms arent even big enough to swing a cat in!!!!!
 
Icbaaaa said:
Thank you! I'm in Scotland so was worried they would maybe offer less than the home report value. I like the look of some of the new builds but just so worried about some of the horror stories I've seen and heard! I have family who have new builds and are so 50/50 about them. Plus some of the "room" sizes foe 3rd/4th bedrooms arent even big enough to swing a cat in!!!!!
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It isn’t my preference but we are absolutely desperate now so might need to go for one. We will definitely buy a four bed even though we only need three just to ensure youngest doesn’t get a box room. Hope it’s not a Stewart Milne you were after!
 
Icbaaaa said:
Thank you! I'm in Scotland so was worried they would maybe offer less than the home report value. I like the look of some of the new builds but just so worried about some of the horror stories I've seen and heard! I have family who have new builds and are so 50/50 about them. Plus some of the "room" sizes foe 3rd/4th bedrooms arent even big enough to swing a cat in!!!!!
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We're in England but we did this the other way round - bought our house from the new build company as our sellers had part-exchanged it. Looking at sales history reports on Rightmove it looks like they sold for £265k and we bought for £275k, 4 months later.
 
Icbaaaa said:
Has anyone ever went through a new build scheme where the developers buy your own home so there's barely any chain?
I've never heard anyone doing this and surely there must be some type of clause or offered lesser than your value?
Click to expand...

We were offered this recently. Your property needed to be under the value of £350k and the home being traded no more than 70% of the property that you are purchasing. Then the maximum amount they would exchange your property for is 98% of the average of two property valuations.
 
Icbaaaa said:
Has anyone ever went through a new build scheme where the developers buy your own home so there's barely any chain?
I've never heard anyone doing this and surely there must be some type of clause or offered lesser than your value?
Click to expand...

No, but I’m looking to do this.

My dad did it recently. They do offer under MV.
 
Thanks all! I'll look into it a little bit more, and go visit some show homes to get a proper feel for them and take it from there!
 
Icbaaaa said:
Thanks all! I'll look into it a little bit more, and go visit some show homes to get a proper feel for them and take it from there!
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Bear in mind when you do go to look they will often show you the best home in terms of plot. So expect the others to either have smaller gardens or be smaller in general. They also dress them with small furniture to make the rooms seem bigger than they are.
 
All the paperwork is sorted so we might finally exchange today! Was having such a panic earlier this week that the buyers had got cold feet or decided not to proceed at the last minute but it turns out my fears were unfounded and their solicitors were just being slow. :ROFLMAO:

Some friends of ours did part exchange recently when they bought a new build and whilst they did get a slightly lower price than they had it valued at before hand, it made the whole process a lot easier when the build was delayed as they were able to stay put. The housebuilders are struggling so much with reservations down so they are more desperate to get deals like that done so might be more reasonable. Also worth seeing what extras they will throw in as certainly the development we were looking at have added some new year incentive packages that do add a fair amount in terms of upgrades and additions that you'd otherwise be paying a considerable amount for.
 
I know someone who visited a new build, said they’d think about it, then 30 mins later were phoned up by developers essentially knocking £20k off. I currently live on a new build estate (hopefully not for much longer if we ever get to exchange) and developers got greedy after the madness of 2020/1/2 and started building too many of the high end 4/5 bed builds in the latest phase that nobody can now afford. So many sitting empty.
 
We've exchanged contracts ready for completion on the 26th 🥳

I found it interesting that prices on the new build estate that we nearly were going to buy on were reduced this weekend on some plots by £10-15k, they must be really struggling to shift them as that is on plots that I think were due to be complete before Christmas, or were to be ready early this year so not ideal that they are still for sale. Glad we decided to buy elsewhere now as I wonder if building will pause on the remainder of the estate if there are so many unsold...
 
epl000 said:
We've exchanged contracts ready for completion on the 26th 🥳

I found it interesting that prices on the new build estate that we nearly were going to buy on were reduced this weekend on some plots by £10-15k, they must be really struggling to shift them as that is on plots that I think were due to be complete before Christmas, or were to be ready early this year so not ideal that they are still for sale. Glad we decided to buy elsewhere now as I wonder if building will pause on the remainder of the estate if there are so many unsold...
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We're also completing on the 26th, although no exchange of contracts yet. Moving day buddies!
 
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