Jimaroid
Journeyman Pro
House buying and selling would be a lot easier if people where honest.
House buying and selling would be a lot easier if it weren't for estate agents.
House buying and selling would be a lot easier if people where honest.
We’ve seen the biggest driver being home working, everyone is needing that extra room and more people are happy to commute for the 1 or 2 days a week needed.
Unfortunately it’s not only driven ours up, but it’s impacted a lot of areas we’ve been considering next.
I think that there is also an underestimate of the impact that lockdown had. It may sound strange but people have never really had to live in their houses. It is a place they stay between doing things and, especially with more urban living, people were having to get to grips with the positive and negative aspects of what their property and location offered People left lockdown with a far better idea of what they wanted in terms of a living space and a location and have started to move based on that.
I honestly would not care.
I’ll pick a price I’m happy with based on the valuation and let it sell.
I hate the offers over system so I’d hate to use it.
We were looking at one property and spoke to a friend of ours who is an architect. We wanted some work done to the kitchen, get it extended, nothing major. We were told that a couple of years ago the work we wanted doing would have cost circa £20K. Now it would cost £50K. If you can get them. They had bids out for work and had very few responses.Very true on the tradesman front, it’s getting the right ones you can trust as well, that many cowboys out there.
Same with us, put it slightly under the survey value, get people interested and then see what people offer.What if you overvalue it and you do not get any offers.
When I sold I told the agent that they had slightly undervalued it.
She said it will attract a lot of interest at that price.
My goodness she was right.
Now me being cynical...............A landlord was trying to buy it and made a couple of offers well under the asking price with the usual tales of how much it will cost to get the property up to scratch etc. He was told to do one. Just before we exchanged he came in with an offer just over the price we’d agreed to sell at. Quite how he knew that I’m not sure ?.
Again, he was told to do one, despite the agent pushing us to go with him.
House buying and selling would be a lot easier if people where honest.
Now me being cynical...............
And of course the higher price would give the agent more commission on the sale, not including what other offers had been made in the background.
Attracting interest in East Lothian is not a problem lol.What if you overvalue it and you do not get any offers.
When I sold I told the agent that they had slightly undervalued it.
She said it will attract a lot of interest at that price.
My goodness she was right.
(Not in Scotland) 3 houses have sold in the last 2 months where I live. They were all 'offers in excess' and every one sold the week of listing, 2 were £50K over the bottom line price but I do not know yet what the 3rd is going for. It is a seller's market where I live.I’ll be moving in the next six months and am dreading it.
I detest the offers over system and will be refusing to use it when I sell.
Fixed price , first come first served
I might move to the North East of England at some point (not allowed to say why on here).
How does buying a house in England work please?
You need to set expectations very clearly from the start. And deal with buyers yourself rather than only through an agent.
We had someone try it with us after making it very clear that any attempt to change the price after we had agreed one would not be tolerated and I would pull the sale rather than reduce the price.
Sure enough, the day before exchange the agent called to say the buyer was reducing their offer. They were told to do one. They called back with a slightly increased offer, but one still under the agreed price.
At this point I told the agent to stay out of it and sent the buyer a message directly to tell them the price is now £10k over the agreed price and if they didn’t agree the sale was off. At this point the wife was losing her mind.
Sure enough, an hour later I got a message to say they would pay the original agreed price.
We’ve just had the opposite when selling a house. We had 12 people look round on the first day it was up for sale. We agreed a sale to a young couple after after a number of offers.
A landlord was trying to buy it and made a couple of offers well under the asking price with the usual tales of how much it will cost to get the property up to scratch etc. He was told to do one. Just before we exchanged he came in with an offer just over the price we’d agreed to sell at. Quite how he knew that I’m not sure ?.
Again, he was told to do one, despite the agent pushing us to go with him.
House buying and selling would be a lot easier if people where honest.
Curious as to why a few times people have said "before mortgage rates go up". Have they not already done so in Scotland?
5 yr fixed rates gone from sub 1% to 3%+ in less than a year, is it different in Scotland or are you just talking about further rises from current rates?
Its no different, we use the same base rate and same providers so unsure why anyone would think different.
assumed as much Val just didnt understand the comments unless people think far worse is coming
Many believe that interest rates will be put up in an attempt curb inflation.assumed as much Val just didnt understand the comments unless people think far worse is coming
I honestly would not care.
I’ll pick a price I’m happy with based on the valuation and let it sell.
I hate the offers over system so I’d hate to use it.
I think worse is coming. Or the lenders will be more reluctant to lend.assumed as much Val just didnt understand the comments unless people think far worse is coming