Houses

[newfox1]

4 hours ago, Costock_Fox said:

Sealed bids sound like a complete nightmare mate, glad we don’t have that here.

Do you mean make an offer and just wait? Is that a sealed bid? I think one agent recently here did the same. Said wanted final offers (sealed?) by Friday and best offer would be contacted. Would not mention how close I was or otherwise. .

 

Also, what's the area near Saffron Lane like close to Aylestone Football Club? Any good? Thanks all.

[FoyleFox]

7 minutes ago, newfox1 said:

Do you mean make an offer and just wait? Is that a sealed bid? I think one agent recently here did the same. Said wanted final offers (sealed?) by Friday and best offer would be contacted. Would not mention how close I was or otherwise. .

 

Also, what's the area near Saffron Lane like close to Aylestone Football Club? Any good? Thanks all.

Exactly that, the agent can't disclose to anyone the offers received. Presumably in the 'olden' days it was written and in an envolope, all opened after the deadline. It how it works in Scotland too IIRC. Properties are listed at 'offers over £xx' and interested parties submit an offer privately above that. Highest offer seals the deal.

[Costock_Fox]

1 hour ago, newfox1 said:

Do you mean make an offer and just wait? Is that a sealed bid? I think one agent recently here did the same. Said wanted final offers (sealed?) by Friday and best offer would be contacted. Would not mention how close I was or otherwise. .

 

Also, what's the area near Saffron Lane like close to Aylestone Football Club? Any good? Thanks all.

Yeah, basically means if you really want it judge how much you want it and put your money where your mouth is or miss out.

 

My first sale went to this as there were 3 interested party’s, they ended up overpaying by a fair bit.

[FoyleFox]

7 minutes ago, Costock_Fox said:

Yeah, basically means if you really want it judge how much you want it and put your money where your mouth is or miss out.

 

My first sale went to this as there were 3 interested party’s, they ended up overpaying by a fair bit.

I wonder what happens when the mortgage valuation then doesn't meet the bid price? Renegotiate?

[Costock_Fox]

1 hour ago, FoyleFox said:

I wonder what happens when the mortgage valuation then doesn't meet the bid price? Renegotiate?

That’s a good point, or contest the valuation.

[Sly]

I was speaking with a Friend today. 
 

He’s buying a property that was purchased, then done up. It went onto the market and he’s paid a little lower than the asking price. 
 

Everything is now up in the air, as it’s been valued at £40k lower than that!! 
 

..... he thinks the entire chain will collapse because of it. As no one seems willing to move on prices at the moment.

[newfox1]

I've definitely noticed more houses being sold and now back on the market. I suspect due to not being able to get a mortgage or something. Should I contact the agent for a couple I made offers for and see what they are saying or wait for them to contact me?

[rachhere]

9 minutes ago, newfox1 said:

I've definitely noticed more houses being sold and now back on the market. I suspect due to not being able to get a mortgage or something. Should I contact the agent for a couple I made offers for and see what they are saying or wait for them to contact me?

Contact them I would, if you are still interested. 

[ajthefox]

I was keen on a flat I saw go online in October.

 

It was sold late Jan/Early feb, came back on the market in June for about a week and it's come back on again in the last couple of days, now being sold at Auction. 

 

I really want to buy but I feel like the market is going to be doing some strange things over the next couple of months, and the last thing I need as a FTB is to buy something that then drops in price by 10 grand.

[newfox1]

57 minutes ago, ajthefox said:

I was keen on a flat I saw go online in October.

 

It was sold late Jan/Early feb, came back on the market in June for about a week and it's come back on again in the last couple of days, now being sold at Auction. 

 

I really want to buy but I feel like the market is going to be doing some strange things over the next couple of months, and the last thing I need as a FTB is to buy something that then drops in price by 10 grand.

If you're going to live in it long term, a dip won't make a difference. Or would it?

[newfox1]

1 hour ago, rachhere said:

Contact them I would, if you are still interested. 

Got a bit of a pride here as I'm a serious buyer, no chain etc...but just don't want to seem desperate and having to beg and then agents playing their games. They have my offer on file. I'll wait until Friday and will see from there. Just very curious to see what they say. If anything at all.

[FoyleFox]

1 hour ago, newfox1 said:

I've definitely noticed more houses being sold and now back on the market. I suspect due to not being able to get a mortgage or something. Should I contact the agent for a couple I made offers for and see what they are saying or wait for them to contact me?

I'd contact them if the properties are of interest. I wouldn't rely on the agents to be that proactive. All you're doing is enquiring, no obligation to move it further so it's not desperation. 

[z-layrex]

Still no confirmed exchange day, process started end of June. People we are buying from are being so vague. Initially my agent did some snooping and was told their new build would be ready October, now their agent is saying late Oct/early Nov. This seems like a really long time, I think they should agree to a move out date regardless of whether their build is ready. I'm concerned we'll lose our buyers if this goes on too long.

[Costock_Fox]

21 minutes ago, z-layrex said:

Still no confirmed exchange day, process started end of June. People we are buying from are being so vague. Initially my agent did some snooping and was told their new build would be ready October, now their agent is saying late Oct/early Nov. This seems like a really long time, I think they should agree to a move out date regardless of whether their build is ready. I'm concerned we'll lose our buyers if this goes on too long.

I guess the difficulty you might have is if your purchase was agreed before all of this madness they might actually get more cash should they remarket.

 

Obviously that’s risky.

[Footballwipe]

Horrible delay at the moment.

 

The house we're buying still not registered with Land Registry. They put the application in on 18 June. Can't do anything until then, no documentation, contracts, nothing. The people we're selling to are asking Q's and that's fair enough.

 

We were almost tearing our hair out at the radio silence. We had to go to LR ourselves to find out some info. We're told our sellers are making "daily contact" with LR, and have even complained about their old solicitors, who I assume slacked off and caused this pile-up.

 

I've been trying so much to keep the people we're selling to updated as they absolutely deserve to know what's happening. Still hoping for a quick resolution. Chain should move fast when this stage is over as our sellers aren't buying anywhere, but it's the not knowing that kills you.

[FoyleFox]

Are all of the estate agents in Leicester exceedingly busy? In the past 2 weeks I've contacted 4 or 5 to request floor plans x 2, a video and internal photo's of properties and not one has responded.

 

Although after 3 viewings in the first week and an offer £40K under asking (there's cheeky bids and then there's taking the p1ss) there's been no activity in the sale of ours so no obvious rush, but a response would be nice.

[Leicester_Loyal]

Seems to have slowed down a lot in the past couple of weeks, hardly any new houses coming onto the market in the areas I'm looking. My agreement in principle expires in about 30 days, so it looks like I may have to start the whole process again. My mortgage broker said there won't be anymore fees regardless because I've already paid him, so that's good news I suppose.

[Steve_Walsh5]

Supposed to have had Connells round today to value our house. It’s been booked in for the past 3 weeks, got an automated text from them yesterday confirming what time they will be arriving. This morning woke up to an E-mail saying they have cancelled the appointment. I gave them a ring to find out what’s going on and the woman couldn’t have been less helpful. She asked if I’d like to rearrange I said no and she put the phone straight down  

 

Rang YourMove instead and got them coming round a week on Friday. 

[Rob1742]

On 18/08/2020 at 21:52, ajthefox said:

I was keen on a flat I saw go online in October.

 

It was sold late Jan/Early feb, came back on the market in June for about a week and it's come back on again in the last couple of days, now being sold at Auction. 

 

I really want to buy but I feel like the market is going to be doing some strange things over the next couple of months, and the last thing I need as a FTB is to buy something that then drops in price by 10 grand.

But if it does it will go back up again at some point. 
You can’t go delay buying when the market is all guess work. If you want it, go buy it. You could be waiting forever.

[Rob1742]

7 hours ago, FoyleFox said:

Are all of the estate agents in Leicester exceedingly busy? In the past 2 weeks I've contacted 4 or 5 to request floor plans x 2, a video and internal photo's of properties and not one has responded.

 

Although after 3 viewings in the first week and an offer £40K under asking (there's cheeky bids and then there's taking the p1ss) there's been no activity in the sale of ours so no obvious rush, but a response would be nice.

A lot of agents are poor. There are a few good ones, but some very poor.

 

I remember asking for house details once years ago and nothing. Three times I contacted them and nothing.

 

[FoyleFox]

28 minutes ago, Rob1742 said:

A lot of agents are poor. There are a few good ones, but some very poor.

 

I remember asking for house details once years ago and nothing. Three times I contacted them and nothing.

 

One has managed to send me the details of a 2 bedroom terrace in Leicester today, despite that not matching any of my requirements in terms of No of bedrooms, style or location 

[Costock_Fox]

7 hours ago, Leicester_Loyal said:

Seems to have slowed down a lot in the past couple of weeks, hardly any new houses coming onto the market in the areas I'm looking. My agreement in principle expires in about 30 days, so it looks like I may have to start the whole process again. My mortgage broker said there won't be anymore fees regardless because I've already paid him, so that's good news I suppose.

I wouldn’t worry too much about the AIP expiring, if your circumstances haven’t changed in that time you will be alright. 
 

Lenders are tightening up a little bit but someone with a clean credit score and a settled save job should be alright.

[z-layrex]

4 hours ago, Steve_Walsh5 said:

Supposed to have had Connells round today to value our house. It’s been booked in for the past 3 weeks, got an automated text from them yesterday confirming what time they will be arriving. This morning woke up to an E-mail saying they have cancelled the appointment. I gave them a ring to find out what’s going on and the woman couldn’t have been less helpful. She asked if I’d like to rearrange I said no and she put the phone straight down  

 

Rang YourMove instead and got them coming round a week on Friday. 

Connells are scum.

 

When we were looking for our first flat, we found a place being sold by them, they basically forced us to use their mortgage advisor (we were young and nieve). After we had spent money north of 800 quid with them, it turns out the lease of the flat was far less than we were told. Connells didn't give a single ****, saying they did their "due diligence". We took them to the property ombudsman, who sided with THEM. Now when buying this house, if I saw a house listed under Connells I didnt even click on it, no matter how perfect. Scum. 

Edited 26 August 2020 by z-layrex

[Greg2607]

17 hours ago, FoyleFox said:

Are all of the estate agents in Leicester exceedingly busy? In the past 2 weeks I've contacted 4 or 5 to request floor plans x 2, a video and internal photo's of properties and not one has responded.

 

Although after 3 viewings in the first week and an offer £40K under asking (there's cheeky bids and then there's taking the p1ss) there's been no activity in the sale of ours so no obvious rush, but a response would be nice.

It's exactly why we listed with purple bricks.  We had a nightmare trying to book viewings and wouldn't anyone wanting to view ours to have the same experience.  

 

It's picked up for us this week though. We had no viewings for a couple of weeks and then 3 people booked viewings within about 4 hours.  

 

I guess with kids back to school it may busy up a little.  That being said, the houses we are looking to buy have been selling like hot cakes. 

 

We've had 3 houses in the last week all have multiple offers over asking price. Feels crazy!

[ketteringscott]

On 19/08/2020 at 16:41, Footballwipe said:

Horrible delay at the moment.

 

The house we're buying still not registered with Land Registry. They put the application in on 18 June. Can't do anything until then, no documentation, contracts, nothing. The people we're selling to are asking Q's and that's fair enough.

 

We were almost tearing our hair out at the radio silence. We had to go to LR ourselves to find out some info. We're told our sellers are making "daily contact" with LR, and have even complained about their old solicitors, who I assume slacked off and caused this pile-up.

 

I've been trying so much to keep the people we're selling to updated as they absolutely deserve to know what's happening. Still hoping for a quick resolution. Chain should move fast when this stage is over as our sellers aren't buying anywhere, but it's the not knowing that kills you.

The solicitors can make an application to have the application expedited if it is holding up another transaction. Have they done this? The Land Registry will require proof of the sale and will normally complete the application within ten days once this has been done. I had to make a similar request on one where the Land Registry had been sitting on the application for a while and they completed it within a few days.