House Selling - Advice Please

I don’t need to add to what’s already been said about price. But some advice that’s not yet been given is to expect to meet some absolute whoppers when you have viewings.

People who will come and rule it out for something that was pretty obvious from the listing, such as the direction of the garden.

People who bring a relative who’s apparently an expert on every trade going, who basically condemns the place.

People who like to make out that they have more money than they actually do and inform your that they’re are also looking at stuff twice the value, or that they’re going to completely transform the place with £150ks worth of work on a £200k house.

People who repeatedly put the viewing back half an hour or so about five minutes before they’re due to turn up.

People who think they’re one of the dragons and come in with a ridiculous low ball offer.

Having said that, last year I did manage to sell to one of the above within a week of putting it up and for asking, so it can be worth it.

Enjoy! 🤣👍
 
Just recently sold mine, got one valuation mainly as they sold the house next door a few weeks before. Anyway went on 220k sold 235k after 4 offers

its a popular street though and they had a list of people that tried to get next door.

paying 1%
 
Have you sold yet? If not I’d try and get it done this week. To be blunt, the **** is going to fall out of the market before Christmas.
Of course, it’s relative if you buying something else
 
Have you sold yet? If not I’d try and get it done this week. To be blunt, the **** is going to fall out of the market before Christmas.
Of course, it’s relative if you buying something else

It is relative but the mortgage rates are shooting up. Might force some people to reconsider any move for the time being.
 
If you're thinking of buying a house everyone looks on Rightmove to see what houses are for sale.
If your house is on Rightmove everyone willing to buy it will see it and all the details.
To get on Rightmove you need an estate agent as they only accept listings from them.

Consider using Strike online estate agent or similar as they charge absolutely nothing to list etc
You only pay for any additional services you might want to use, but absolutely no obligation to buy anything and can sell for free.
Take your own photos ( easy with smartphone ) and show the house yourself etc and cherry pick what other services you mighty want.

I really don't see what a traditional local office based agent with a window full of houses can offer above this and how they justify such large fees etc.
Sell it yourself indeed, did this myself on a property within M25, very easy if you have a bog standard house (I had a 2 bed terrace) to check what others have sold for and get some valuers in. A good property sells itself you don't need an agent, you are also an expert on your own property they are not. The other benefit is you cut out a party in the middle who can complicate or add confusion to the mix based on their on sales targets/motives etc. Sold mine for £250 all in I think.
 
Unless you desperately need to sell and quickly, go the "offers above" route on the highest valuation you get and get more than two valuations, and do your local research. Process to "best and final offers" if you are lucky enough to get multiple interest above the offer price.
If there is demand in your precise area, then you will flush highest price out.

Estate agent should accept 1% fee, be clear you won't sell for the stated price and for them to make that clear to potential buyers.
 
Just said on BBC News many fixed mortgage deals are now around 5.5% which must affect the property market over the next 6 months (unless I am lying or totally wrong - of course).
 
Certainly it will in the higher and middling value properties. Anything on Teesside under £200k with a realistic valuation should get plenty of interest still either from downsizers or first time buyers. They’re within reach of the kind of mortgage most couples could get and would still be cheaper than renting in most decent areas.
 
Just said on BBC News many fixed mortgage deals are now around 5.5% which must affect the property market over the next 6 months (unless I am lying or totally wrong - of course).

5.5% in 2022 is comparable with the 14% rates of years gone by. There is trouble afoot in the housing market. The stamp duty changes won't make a jot of difference now.
 
So for instance, take 1980. Back then, official BoE interest rates were on average 14.2%. But because people were much less heavily indebted, because their incomes were much higher vs their repayments, that was, in affordability terms, EQUIVALENT to 3% in today’s interest rates.
& mortgage interest tax relief was 30%. It was a reason interest only mortgages & endowments to pay them off were so popular.
 
The cynic in me is thinking the whole situation is being manipulated for a great housing reset with thousands of people with mortgages foreclosing only for the buytolet landlords to mop up and make a killing reducing home ownership in the process.
 
The cynic in me is thinking the whole situation is being manipulated for a great housing reset with thousands of people with mortgages foreclosing only for the buytolet landlords to mop up and make a killing reducing home ownership in the process.
Buy to let mortgage rates are going up probably more than traditional mortgages are the moment, which will then push rents up as a consequence.

Can't see any winners in this.
 
I think one so far very under reported trend, is the post-pandemic urge to spend, rather than invest, or at least adopt a more modest attitude to spending.

For example, the travel industry seems to be overwhelmed, not just in volume of bookings, but also a rise in people spending more, on longer, more expensive and exotic holidays.

I think this is driving the housing market too.
 
I think one so far very under reported trend, is the post-pandemic urge to spend, rather than invest, or at least adopt a more modest attitude to spending.

For example, the travel industry seems to be overwhelmed, not just in volume of bookings, but also a rise in people spending more, on longer, more expensive and exotic holidays.

I think this is driving the housing market too.
I think the travel industry is overwhelmed because they binned most of their staff and only got half back. I am not convinced people have been splurging because of COVID either
 
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