House Prices #5 Property market, buying and selling

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Had an offer on a house tentatively accepted on the basis that we progress with the sale of our house as quickly as possible. They have said that they are still going to keep it on the market and take viewings and offers so I suspect we’ll lose it just as quickly as we got it. I do understand why they are but it still feels stressful.

We were going to reduce in mid January but now feel like we have to now to show willing despite my better judgement of the current time of year.
 
ollieplimsolls said:
Had an offer on a house tentatively accepted on the basis that we progress with the sale of our house as quickly as possible. They have said that they are still going to keep it on the market and take viewings and offers so I suspect we’ll lose it just as quickly as we got it. I do understand why they are but it still feels stressful.

We were going to reduce in mid January but now feel like we have to now to show willing despite my better judgement of the current time of year.
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Will a buyer of your house potentially be affected by the SDLT change in April? If so, I'd definitely drop the price now, January is too late really to then get a chain through.

Personally at this stage I'm not sure anything matters much in terms of timing. We're still far enough away from Christmas that if the right house for someone goes online then they'll go and see it.
 
Megansnarkle said:
Will a buyer of your house potentially be affected by the SDLT change in April? If so, I'd definitely drop the price now, January is too late really to then get a chain through.

Personally at this stage I'm not sure anything matters much in terms of timing. We're still far enough away from Christmas that if the right house for someone goes online then they'll go and see it.
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Not if they are a first time buyer. We’ve reduced it down and it’s being updated tomorrow. It’s just because we live in a semi rural area so although the house is good (in our biased opinion of course), I just worry that it won’t really change anything this year unless there are people looking specifically in the area.
 
zetta buttons said:
Our buyers pulled out today. Unfortunately it happened while we were both at work/hospital and uncontactable so we aren’t able to get to the bottom of it. Solicitors gave the reason of the covenant (if that’s true, we are going to say we will buy indemnity insurance for them). EA gave unstable land on search. The search would have shown coal mining (it did on ours 8 years ago and another neighbours’) but the whole effing county had coal mining and they are from the south, probably didn’t realise it would have come up and just needed to ask that it wasn’t a problem.

I got injured at work today and need to go for a tetanus tomorrow and the OH was in for scans all afternoon. We are gearing ourselves up to getting to the bottom of it. Not sure what’s going to happen with our new build.

I don’t drink but if I did, I would be half a bottle of Tia Maria down by now.
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Sorry you are going through all this. Similar happened to us when we sold our last house, really stupid reason for pulling out and meant we had wasted hundreds on a survey we couldn't buy. I remember sobbing all day. Two weeks later we got first time buyers which meant a short chain and a larger offer. So chin up, it will all come it in the wash eventually, very stressful for you now though. X
 
Northern northener said:
Sorry you are going through all this. Similar happened to us when we sold our last house, really stupid reason for pulling out and meant we had wasted hundreds on a survey we couldn't buy. I remember sobbing all day. Two weeks later we got first time buyers which meant a short chain and a larger offer. So chin up, it will all come it in the wash eventually, very stressful for you now though. X
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Thank you. I’m being a bit more stoic, OH is devastated. I think we might need a rethink totally tbh. I had a huge argument with the EA yesterday who told me that the covenant made the house unsaleable (well that particular EA sold this house to us 8 years ago and the seller was breaking the covenant by renting to students so that was a pile of bollocks 🤬). There are covenants all over the city because of its nature and 1/2 the people in our street are renters so…

It will all be fine, whatever happens, whether we end up in a different place in a different town, whatever. I am determined not to let it make me ill like last time 😞x
 
First time buyers here we weren’t planning on buying a new build however after speaking to my partners accountant she said that they’re struggling to sell new builds at the minute so they’re willing to add in freebies and offer big discounts on extras does anyone know if this is true? Also when it comes to buying a new build and you do add on extras, do these need to be paid separately or can you add them into the mortgage?
 
Insta09875 said:
First time buyers here we weren’t planning on buying a new build however after speaking to my partners accountant she said that they’re struggling to sell new builds at the minute so they’re willing to add in freebies and offer big discounts on extras does anyone know if this is true? Also when it comes to buying a new build and you do add on extras, do these need to be paid separately or can you add them into the mortgage?
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If you have Facebook I recommend joing the group 'New Build Homes U.K'. You'll be able to search people asking this kinda thing and see the replies they got. Also advise on what plots are best etc
 
Insta09875 said:
First time buyers here we weren’t planning on buying a new build however after speaking to my partners accountant she said that they’re struggling to sell new builds at the minute so they’re willing to add in freebies and offer big discounts on extras does anyone know if this is true? Also when it comes to buying a new build and you do add on extras, do these need to be paid separately or can you add them into the mortgage?
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There definitely seems to be more and more offers being added as they can't put prices down as it will devalue existing plots that have been sold on the estate.

When we bought our house we got a separate bill for the extras that we paid for. I don't think there was even a discussion about adding it to our mortgage.
 
ollieplimsolls said:
We reduced yesterday and immediately had a viewing booked in for today but they’ve cancelled because they drove past and didn’t realise we didn’t have parking 🤦🏼‍♀️
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Oh no :( That would, unfortunately, be a no from us too. It might be worth checking in the listing that the photos make it very obvious there's no parking so you don't attract the wrong people again?

Just want to try and get some things straight in my head. I've got a job interview next week, which if all goes well, and the terms of the job are right (there's potentially some issues, but not house related) would require us to relocate about 30 miles East of where we are now. I've been looking on Rightmove since I got notification of the job going live (start of November) and there's not a huge amount around there for sale in our price range which is up to 400k. However there are probably 4 or 5 properties that we would be able to consider as they have what we need on paper (parking for two cars, near the A road for OH to commute, garden big enough for toddler, three good sized bedrooms). Not perfect but good enough for a few years. A couple are chain free and our current area is also in a very slow market so I'm confident if we advertised our property at the right price, even with Christmas coming we'd have a fair few interested parties.

How long realistically though would it take to completely relocate? Obviously a bit of a "how long is a piece of string" question but the job is in the NHS and whilst they know that DBS checks etc. can take a while, they often have very speedy recruitment processes and if my references and DBS come back within 2 weeks, they'd expect me to be ready 8 weeks later, so 10 weeks after the interview. Which is absolutely not enough time to relocate our entire lives...
 
WeepingCassandra said:
Oh no :( That would, unfortunately, be a no from us too. It might be worth checking in the listing that the photos make it very obvious there's no parking so you don't attract the wrong people again?

Just want to try and get some things straight in my head. I've got a job interview next week, which if all goes well, and the terms of the job are right (there's potentially some issues, but not house related) would require us to relocate about 30 miles East of where we are now. I've been looking on Rightmove since I got notification of the job going live (start of November) and there's not a huge amount around there for sale in our price range which is up to 400k. However there are probably 4 or 5 properties that we would be able to consider as they have what we need on paper (parking for two cars, near the A road for OH to commute, garden big enough for toddler, three good sized bedrooms). Not perfect but good enough for a few years. A couple are chain free and our current area is also in a very slow market so I'm confident if we advertised our property at the right price, even with Christmas coming we'd have a fair few interested parties.

How long realistically though would it take to completely relocate? Obviously a bit of a "how long is a piece of string" question but the job is in the NHS and whilst they know that DBS checks etc. can take a while, they often have very speedy recruitment processes and if my references and DBS come back within 2 weeks, they'd expect me to be ready 8 weeks later, so 10 weeks after the interview. Which is absolutely not enough time to relocate our entire lives...
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Not that it's remotely the same circumstances but I relocated 450 miles away in the space of three days lol! Is your current house listed?
 
If it’s 30 miles could you commute until the house was sorted? I drove 45 miles each way to a school for 2 terms until we moved a few years ago. Obviously I don’t know your circumstances so it could be a complete no no! X

We had another offer on the house today which we have accepted. We also had our own searches come back which showed the stability issues raised were bollocks and entirely due to historical mining (which is everywhere in the city). The EA should have trusted that we know our own property and that there was no natural instability. Anywhere in this county has mining indicated. The strikes happened here ffs. Anyway, moan over. Here’s hoping this one sticks.

In terms of the extras on our new build, we had an incentive included because my OH is a teacher which allowed for a % off the deposit (which we don’t need because we aren’t FTB) or a certain amount of extras. These have added up to flooring, wardrobes and nicer tiling. None of this would have been on the total cost though so it wouldn’t have increased SD.
 
Insta09875 said:
First time buyers here we weren’t planning on buying a new build however after speaking to my partners accountant she said that they’re struggling to sell new builds at the minute so they’re willing to add in freebies and offer big discounts on extras does anyone know if this is true? Also when it comes to buying a new build and you do add on extras, do these need to be paid separately or can you add them into the mortgage?
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We were looking at new builds a few months back as potentially relocating. They were offering 30k to be used either as deposit contribution, towards extras/upgrades or as cash back on completion. It had an "ends X date" which was less than a week away and we queried and said we couldn't commit that quickly and was told there is always a similar deal and basically ask for whatever you want! Some of them are pay your mortgage for a year etc.

But upgrades will always need to be paid upfront and not added on to the mortgage.
 
Mines going on tomorrow. Having not sold a house for 20 years I am very impressed at how good the photos look. We pitched it just under our competition in the area. Feeling a bit annoyed with the EA already...she put the boards up 4 days before it's going live, she then sent the details today for us to approve and it was really poor in terms of typos, spelling, grammar and inaccuracies about the house. We corrected them and she says she'll do it tomorrow. I know I'm being unreasonable and impatient but how long does it take to correct a short piece of work?

Anyway, I'm feeling scared about viewings, introverts nightmare. 😬
 
Northern northener said:
Mines going on tomorrow. Having not sold a house for 20 years I am very impressed at how good the photos look. We pitched it just under our competition in the area. Feeling a bit annoyed with the EA already...she put the boards up 4 days before it's going live, she then sent the details today for us to approve and it was really poor in terms of typos, spelling, grammar and inaccuracies about the house. We corrected them and she says she'll do it tomorrow. I know I'm being unreasonable and impatient but how long does it take to correct a short piece of work?

Anyway, I'm feeling scared about viewings, introverts nightmare. 😬
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We only had one today and I’m spent. Three weeks ago we had 8 or 10 over 4 days and it was horrible. I went over everything I said over and over. EA nowadays seem to do very little compared to when I moved into my first property (22 years ago).

Good luck. Let us know how it goes.
 
In the process of buying a new build and we got a 5% deposit contribution on top of our existing deposit and free upgraded kitchen which included more choice of cupboards/counter tops, integrated appliances and under cupboard lights. Still having some anxiety over what snags there might be especially as the property isn't completed yet. I'm desperate to look inside when I am able to!
 
During Covid a friend got a show home fully furnished plus £15K towards a deposit, even though they were funding it through the sale of two properties. Essentially they got a £620K house for £570K. Included was also the site foreman at their beck and call for the first year if there were any issues
So if anybody is looking to buy wait until the new year, I reckon there will be many many new build deals to be had
 
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