[Misc] House buying & selling question

[giveusfalmerplease]

Firstly make sure that you know what you want in your next house and via rightmove etc get a good idea what it’s likely to cost you.
Then get at least two valuations of your own house and a feel for the agent you trust.
We’ve bought and sold half a dozen times I’d say in the 20 years Mrs Corner and I have been together - whilst it’s great to be able to coordinate everything timewise we’ve always concentrated on finding a buyer for ours as being key. As others have said that puts you in a much better position when buying. I’d also recommend being prepared to go into rented for six months if you need to. You then become chain free and in a much improved bargaining position.
Never assume things will definitely happen until everything is signed and sealed and be prepared for frustration.. And definitely get a reputable solicitor/conveyancer - cheaper doesn’t necessarily pay in the long run.
Good luck!

yeah this is what im going to have to do. our house will have to be sold at auction as a dooer upper. so will rent for 6 months, gut our place so potential buyers get their own chance to imagine what our place could look like if they do it up. Trying to show people round a cluttered home with 50 years of junk still in it (82 yr old father wont throw anything away!) will significantly limit who might buy it. Decided will be better to move east coast, somewhere where prices are a lot cheaper than brighton but its not too cold am hoping can pick up something for roughly what we will get for ours after paying moving expenses and mortgage paid off. nearly 60 now so peace of mind not worrying about mortgage repayments will be a great benefit too.

 

[Ooh it’s a corner]

When I heard thing were moving fast, I didn't realise it was at a Craig David pace!

We decided to move forward so chose our agent on Saturday, he came around Tuesday lunchtime to take photos including a 3d virtual viewing tool. Went on the internet at 4pm Tuesday - six viewings Wednesday, three more tonight, four tomorrow and 5 Saturday. Not accepting any more at this stage.

They only allow viewings for those who are without property or have a buyer for their house. Of the six from last night, two have already put in offers.

Excellent! With that initial response it sounds like you will get your asking price and possibly more. Get a good conveyancer/solicitor on board if you haven’t already.

 

[Chicken Run]

When I heard thing were moving fast, I didn't realise it was at a Craig David pace!

We decided to move forward so chose our agent on Saturday, he came around Tuesday lunchtime to take photos including a 3d virtual viewing tool. Went on the internet at 4pm Tuesday - six viewings Wednesday, three more tonight, four tomorrow and 5 Saturday. Not accepting any more at this stage.

They only allow viewings for those who are without property or have a buyer for their house. Of the six from last night, two have already put in offers.

Fantastic news, the Agency you chose seem to have done an excellent job[emoji106]

 

[knocky1]

Same speed here. On last week, 25 visits in 3 days, 7 offers, one chosen. Now for the fun of being in a chain that we have now closed.

 

[Machiavelli]

When I heard thing were moving fast, I didn't realise it was at a Craig David pace!

We decided to move forward so chose our agent on Saturday, he came around Tuesday lunchtime to take photos including a 3d virtual viewing tool. Went on the internet at 4pm Tuesday - six viewings Wednesday, three more tonight, four tomorrow and 5 Saturday. Not accepting any more at this stage.

They only allow viewings for those who are without property or have a buyer for their house. Of the six from last night, two have already put in offers.

Well, that's good to hear. From what you've indicated, the estate agents will start hassling you immediately. If I was in your situation, I'd say to them that you want to continue with all those arranged viewings, wait to see what the full response is, and proceed from there. Good luck. We moved in last month, after 18 months. It sounds as though it might take you 18 weeks. I'd concentrate on arranging viewings now, especially if you don't have a tightly defined idea (area/streets, rooms, design, special features) of what you want.

 

[DJ NOBO]

Yeah, absolutely. The product we took out for our remortgage is intended as a rental product, and we did intend to rent it out originally. The explosion of the housing market however meant that we thought it was probably better to sell up sooner rather than later.

As I say, the main downside in our case was that we had to fork out a fair whack extra for stamp duty as a second home. You have three years from completion of your new property purchase to sell the old place up and claim this back however.

I’d be careful with that three year rule if I were you. There’s a lot of misinformation out there. Gov.uk is clear though.
Our example - we moved out of our owned house in Oct 2018 and rented elsewhere (job change). We rented out the old house.
We are now buying a house in the new area.
As it happens we are selling our old house anyway before we buy the new house, but the three year rule would have applied from when we moved out of the old house, not when we would have sold it. So we would have had to have sold it by Oct 2021 to claim the stamp duty back (which we would have been liable to as our new house would have been a second home).

 

[Sarisbury Seagull]

House buying & selling question

The market in where I work in Southampton is incredibly buoyant at the moment, multiple offers on a lot of properties. I can only see that increasing when the 95% mortgages kick in next month. So whilst the 95% mortgage is in theory great for first time buyers, it is inevitably going to push prices up further and possibly out of reach for a lot of them anyway.

As mentioned above, although properties are going under offer quickly, do not expect to be physically moving anytime soon though!

Although mortgage lenders have got their act together a bit now with regard to their processes in a post Covid world, the actual conveyancing process is taking longer than ever, it is painful at the moment. As already said, it’s imperative you use a good, recommended solicitor. The online call centre types, as cheap as they might be, are absolutely horrendous.

And you might have to take a view on a few things when it comes to recommendations from surveyors and solicitors. I’m finding they are getting more and more cautious on properties. I think they would rather nobody ever bought a house as they’re so worried about future litigation and their liability insurance!

Oh, and use a good mortgage broker of course! I know NSC’s broker of choice is Uncle Spielberg and I would never want to step on his toes, but if he is too busy, some of the rest of us are ok too! [emoji846]

 

[maltaseagull]

I’m not entirely sure I’d be comfortable letting others view my house or me view other houses at the moment. Not a time I’d consider moving unless I had to, despite the stamp duty benefit.

I’ve always thought it better to get a buyer for yours fist, though. Nothing worse than finding the home you want and then being unable to have it as nobody wants your current one!

What Sully said!

 

[Wrong-Direction]

The market in where I work in Southampton is incredibly buoyant at the moment, multiple offers on a lot of properties. I can only see that increasing when the 95% mortgages kick in next month. So whilst the 95% mortgage is in theory great for first time buyers, it is inevitably going to push prices up further and possibly out of reach for a lot of them anyway.

As mentioned above, although properties are going under offer quickly, do not expect to be physically moving anytime soon though!

Although mortgage lenders have got their act together a bit now with regard to their processes in a post Covid world, the actual conveyancing process is taking longer than ever, it is painful at the moment. As already said, it’s imperative you use a good, recommended solicitor. The online call centre types, as cheap as they might be, are absolutely horrendous.

And you might have to take a view on a few things when it comes to recommendations from surveyors and solicitors. I’m finding they are getting more and more cautious on properties. I think they would rather nobody ever bought a house as they’re so worried about future litigation and their liability insurance!

Oh, and use a good mortgage broker of course! I know NSC’s broker of choice is Uncle Spielberg and I would never want to step on his toes, but if he is too busy, some of the rest of us are ok too! [emoji846]

I probably need another year or two of saving before I start looking to buy, fingers crossed it comes when there's a massive crash [emoji1696]

Sent from my SM-A715F using Tapatalk

 

[Live by the sea]

Found a good example today on rightmove which is really a lesson
about trust in estate agents .

There is a 3 bed property in Kings rd , Brighton for sale , it’s been on a while and today been reduced to £400k . 5 different agents have it for sale . Fox & sons have it listed as a 3 bed house and their description makes no mention that it is actually a 3 bed flat .

King and chasemore also have it listed as a 3 bed house and no mention that it’s actually a flat in their description.

The other 3 agents all make it clear it’s a 3 bed flat / maisonette set over 3 floors .

As a house it looks like a good buy at that price although it’s tiny
at less than 600 square ft but as a flat and a very small 3 bed flat it’s probably worth less than the asking price .

The point I’m trying to make is how can Fox and Sons & King and Chasemore get away with blatantly lying and making out they are selling a house when it’s a flat !

Avoid cowboy agents .

 

[Sarisbury Seagull]

Found a good example today on rightmove which is really a lesson
about trust in estate agents .

There is a 3 bed property in Kings rd , Brighton for sale , it’s been on a while and today been reduced to £400k . 5 different agents have it for sale . Fox & sons have it listed as a 3 bed house and their description makes no mention that it is actually a 3 bed flat .

King and chasemore also have it listed as a 3 bed house and no mention that it’s actually a flat in their description.

The other 3 agents all make it clear it’s a 3 bed flat / maisonette set over 3 floors .

As a house it looks like a good buy at that price although it’s tiny
at less than 600 square ft but as a flat and a very small 3 bed flat it’s probably worth less than the asking price .

The point I’m trying to make is how can Fox and Sons & King and Chasemore get away with blatantly lying and making out they are selling a house when it’s a flat !

Avoid cowboy agents .

A classic example of why should you avoid all corporate agents like K & C (Countrywide) and Fox and Sons (Sequence). They are all beyond useless - avoid them and Purplebricks at all costs. Always stick to the local independents.

 

[Live by the sea]

A classic example of why should you avoid all corporate agents like K & C (Countrywide) and Fox and Sons (Sequence). They are all beyond useless - avoid them and Purplebricks at all costs. Always stick to the local independents.

Absolutely- go local independents.