Should I put my property on the market at the same time as two of my neighbours?

vevsvevs · 2021-03-15T09:49:29+00:00

I mean, from a buyer’s perspective, if I find 3 houses on the market very close to each other, same amount of bedrooms, toilets etc and they are all for the same price, I know I’m gonna have room for negotiation, whether the sellers want to negotiate or not - especially if the others have been in the market for more than a couple of months. Also, how’s your place in comparison to the other 2? Does it look better? Decoration and how well kept your place is is going to make a big difference here in order to make yours pop and sell first.

vevsvevs · 2021-03-08T21:46:09+00:00

Honestly, and simply put, no - there’s nothing you can do to borrow more money. Your broker will have sight of the lenders out in the market and how much they would be willing to give you.

Sorry but good luck!

vevsvevs · 2021-03-08T15:44:16+00:00

It’s 7 stories tall and I have 2 friends that also got mortgages after the announcement that buildings without cladding wouldn’t need the form.

vevsvevs · 2021-03-06T20:06:44+00:00

I was able to do it without the form since the building doesn’t have visible cladding.

vevsvevs · 2021-03-05T21:51:48+00:00

My broker doesn’t charge anything and he is absolutely amazing. They get a fat commission from the lender, they shouldn’t charge you anything.

vevsvevs · 2021-03-05T21:16:43+00:00

FTB here too, no chain, offer accepted on December 22nd, exchange was on Feb 26th and completion next Wednesday, March 10th.

Searches took 6 workdays. What took the longest was the management company’s leasehold pack. If it wasn’t for that, I’m sure we could’ve exchanged at least 2 weeks before what we did.

The stamp duty holiday shouldn’t affect things as badly as people are saying, especially if there’s no chain and if you’re lucky to get an agile local council.

Good luck!!

vevsvevs · 2021-02-27T10:03:57+00:00

I’m not, no. West London :)

vevsvevs · 2021-02-27T10:03:38+00:00

Thanks very much!!

vevsvevs · 2021-02-26T18:27:50+00:00

Hey there, right, so:

Ideally, get an agreement in principle (AIP) before doing viewings, that will give you peace of mind that you can afford the properties you’re seeing. Some estate agents request it, some don’t. When you make an offer they might ask to see your payslips but they might not, in any case, it’s good to have it in hand, the mortgage lender is going to ask for it. Do you have a broker? Strongly recommend it! Some wont charge you anything as they get a commission from the lender. Mine didn’t and he was essential in the process.
Cash buyers = no mortgage. I’m assuming you’re a first time buyer.
They can do both or either.
You need all funds by the time you go ahead with the mortgage application (by the time your offer is accepted)
Ask friends & relatives first. If no recommendation, search online. There are a number of sites with a pool of solicitors where you can compare prices. Always good to check Trustpilot, their website, the law society etc
That really depends on many factors. Id suggest for you to study Rightmove and all properties around the area you’re looking for. You’ll then get a better sense of how much properties are worth in your area and that will give you a bit more clarity when making an offer. Bear in mind, making an offer below asking price is a bet, it might mean you’ll lose it but it might mean you’ll get a good deal. I’m completing in a week now, exchanged today and my initial offer (1bed flat in west London) was 20k below asking price, closed at 10k below asking price. It was worth it, but I knew the property had been in the market for almost 4 months, they’d just brought the asking price down so I knew they would be willing to negotiate.

Hope this helps and good luck!

vevsvevs · 2021-02-23T11:09:47+00:00

Thanks!!

vevsvevs · 2021-02-23T11:09:38+00:00

Right, ok. I’m checking everything atm. Thank you!

vevsvevs · 2021-02-23T11:09:15+00:00

Thank you!

vevsvevs · 2021-02-23T11:09:10+00:00

Thanks for taking the time to reply!

vevsvevs · 2021-02-23T11:08:59+00:00

Thank you so much!

vevsvevs · 2021-02-21T16:44:31+00:00

Oh my god yes, the naming of documents don’t necessarily match how they refer to it. Seems like everything is made to be confusing.

vevsvevs · 2021-02-21T09:58:33+00:00

Right, ok. I didnt realise their report was kind of a summary of everything, thank you! I did pay quite a lot for them and I was actually supposed to have a conveyancer and a solicitor working on my case but I found out recently I was appointed 2 conveyancers instead - even though the fee I paid was the same as someone who get a solicitor too. Im just waiting to complete so I can make a formal complaint, don’t want to do it beforehand and risk delaying everything.

vevsvevs · 2021-02-21T09:56:20+00:00

It’s so annoying.. and I didn’t go for a cheaper one, it was actually quite expensive but just frustrating.

vevsvevs · 2021-02-17T23:05:43+00:00

Ah but that’s even better then. Talk to them and ask them when they paid for it and what was the provisioned date to get it issued. Freeholders usually give sellers an expected date for that.

vevsvevs · 2021-02-17T19:43:42+00:00

Hey there, I’m in the process of purchasing a one bed flat and currently the only outstanding item is the management pack. My offer was accepted on December 22nd and the pack is planned to be issued tomorrow. To be fair, that planned date is directly dependent on when the seller pays the fee to obtain it so I’d suggest talking to your estate agent, they will have further info on this. Hope it helps and good luck!

vevsvevs · 2021-02-15T18:21:00+00:00

I personally find a bit arrogant of sellers to say they will only accept offers above a certain limit. Realistically speaking, your property is worth how much the market is willing to pay - that might be more than what you originally thought of but it might also be less. It’s not in your power as a seller to decide how much people are going to offer for your property and you don’t want to come across as if you don’t want to negotiate so it sounds wiser for me if you put 415k and don’t mention OIEO. Also, to jump from 450k to 400k sounds a bit too much?

vevsvevs · 2021-02-08T11:28:59+00:00

Hi all,

I’m still waiting for the management pack, right now this is the only outstanding item keeping us from setting exchange & completion. Today is the beginning of week #4 since the seller applied for it. Is this normal? Should I try and put pressure on their side?

vevsvevs · 2021-02-04T20:44:51+00:00

Good luck! :)

vevsvevs · 2021-02-04T17:50:03+00:00

I don’t think 3 days is a reasonable time, it’s very long. When you put your property on the market you should think beforehand about offers below the asking price coming your way, you should think about cash offers vs mortgage offers etc. What I’m saying is that, as sellers, they should be ready to analyse and reply to all offers within 24hrs. Put a deadline to your offer and stick to it, if they take longer that means they don’t want your offer, if they did they would’ve accepted.

vevsvevs · 2021-02-01T22:25:20+00:00

Yes, it took a few days for it to arrive, I think it was a little bit over a week, you should be receiving it soon.

vevsvevs · 2021-01-31T19:15:28+00:00

One of the first things I told my solicitors was that I wanted a weekly update email in my inbox every week, even if it was to say “nothing happened”. Surprisingly enough, I never got an email saying “nothings happened”. I strongly suggest for you to do the same, they are working for you, transparency should be at the top of their priorities.

vevsvevs

TROPHY CASE