Trying to move before no stamp duty Ends!

Bluedaisy - Friend whose daughter works in solicitors office informed us that in order to purchase before stamp duty rises a solicitor needs to be instructed by December at the very latest. Properties with very short chains are taking between 12 - 16 weeks to complete even if one purchaser doesn't have anything to sell.

Got feedback from EA as we've had a couple of viewings since original buyer withdrew. One made an offer 50k less than asking price other said overpriced. Just wish we had gone with gut instinct and priced mid market. We are not slashing the price however we've since been told of two sellers nearby who sold through an EA but asked not to go on rightmove. Anyone asked for their property to come off RM and sold with EA that way?

When we first went on market not many around here for sale. Now it seems every other house is selling. We have to stay with EA for another 8 weeks and I have no doubt she will ask us to drop price soon but we will see, we aren't desperate.

In my experience many EA put a price at the very top of the market for that sort of particular property - they do this to try to persuade people to sign up for them as sole agents. If they get really lucky and sell it around that amount, fine \- but most do not. So, after three or four weeks they will come back to you to say they think it is too high a price (yes, the one they suggested), and best to drop the price.
That is all well and good, but it has wasted valuable time, and a lot of people are automatically put off when they see a reduced price on a property.
I did my own checks, it is easy to look up similar properties in your area - which is why I knew that the second EA I used was overpricing it.
The one that I finally used accepted what I was saying, even though I know it was towards the bottom end of the price range for my sort of property - but it made it very easy to sell because of that.
Do not think end of March is out of the question. Last year accepted final offer on my house on 24th July - put offer in on this flat a couple of weeks later (it was empty), and we completed on 29th October.

Don't despair. There's still time to purchase by 31st March. You have to hold your nerve, though not easy when new listings are coming on each day. Anyone can drop out at any time if they see something more appealing arrive on the scene, you just have to persevere.
There does seem to be quite a lot of people moving to Devon at the moment Bluedaisy, we have been talking to EAs and builders down here over the past few weeks and have picked up some tips.
Firstly check your EA is doing all he can to get proper viewings. Don't let him be lazy and tell prospective purchasers to look at the videos online. You need viewers brought through your door and no excuses about Covid19 making it difficult.
Secondly try to make your place look adaptable for working from home (study, garden room, shed, spare bedroom) as these are the type of people moving to the south west.
Personally I wouldn't use an online agent. From what I have heard they can be difficult to contact and don't have good local knowledge.
Good luck.

We've just been let down by our buyer. I knew we had a problem last week when buyers asked if daughter could look round. We could tell she wasn't impressed. They must have spent all bank holiday viewing others and pulled out this week stating too small and overpriced now gone for a larger property. We didn't value our property the EA did. Even tho we were going to rent we hoped to purchase before 31 March. Highly unlikely now.

It took me four years in total to make my move from East London/Essex to Weston super Mare.

First time I tried I obtained a purchaser and all agreed in June. He had told my Agents he was self-employed, and it was noted that this would mean mortgage may take longer to sort out. He did not mention the fact that he had only been self-employed for less than nine months. We got to Christmas without anything being finalised - took five months for a survey to be done. As we went into the New Year, I finally pulled the plug. It had made me quite ill with the stress.
Second time -twoyears later - (it took me that long to recover teh energy to try again), I tried for six weeks, during a particularly hot spell - had about three viewings and no offers. I was certaín, right from the, start the EA's price was far too high, and although I lowered it (twice) knew that does not look good on Rightmove.
So it started again last year, New Agent - who was excellent, in every way. Loads of viewings - and I went out when each one was taking place. Kept price as low as possible as I just wanted to quick and easy sale. Two identical offer came almost immediately and I accepted the one the EA advised - young couple, nothing to sell. Wonderful....
Two weeks later they went back into the EA to sign all the forms for the mortgage, had a second viewing, telling me how lucky they were to get my house and 48 hours later pulled out!!!!

Back on market, again - due to having a good price got a reasonable offer very quickly. Everything going ahead well that time, survey carried out, mortgage agreed - I even lowered the price slightly - as their purchasers had a financial problem and they had agreed to lower the sale price there, so I greed to meet them on that!!!.

Move arranged for August - started to get quotes from removal companies and whilst one was in the house, the EA came round - one look at her face and I knew it was bad news - the purchasers had pulled out - a very lame excuse.
I wanted to give up - my EA persuaded me to give them another month and within four days had got a new higher offer on my house. At that time I was also undergoing a cancer scare - and was beginning to feel as if this move was not meant to be.
Fortunately, following a small op. the bi-opsy came back clear, mortgage quickly arranged, private survey also carried out - (that was a stressful day, it was carried out for four long hours in the morning of the day I was attending in the afternoon at the Pre-op clinic at the hospital). Thirteen weeks after that offer, we all moved.

I swore then, and totally mean it - I would NEVER EVER repeat this. Here I am (fortunately, very happily) and here I will stay. The English/welsh system of conveyancing needs a total overhaul. Other countries (including Scotland) have such better systems in place. I will not underplay the amount of stress involved right up to that final day. My Solicitor (one I knew and had used before), was only really keen about protecting his company from any future litigation.

The nightmare five days it took to exchange three contracts and only finally took place because my EA spent a whole working day on the phone trying to make contact with the on-line conveyancing firm being used by the people at the bottom of the chain.
Okay, it is like having a baby - dreadful agony, stress and pain at the time - and once a happy move has taken place much of it goes. But it should not be like this.
I sympathise with any of you in the process of selling and buying - just hope that your outcomes are finally as successful and happy as mine has been

It is directly above this thread

Oh gosh we are into week 4 of selling our house and all this seems a nightmare waiting to happen! It's 35 years since we moved in here - we've had it up for sale twice in the past but taken it off the market after no success but we tried again a month ago and accepted an offer after a fortnight. Our buyer is selling their property via an online agent to a first time buyer. Our agent (a well known local company) is very sceptical of the online one which have recently changed their name. There are some known issues with our purchasers property type and he has been very diligent trying to ascertain whether their agent was sufficiently aware of this - not being local he was pretty sure they wouldn't be and may not get a mortgage. Our couple were also told they could complete by 9th Sept which is obviously impossible. We have been told their contracts are being prepared but so far we have not had a survey on our house so are still fully prepared for this all to fall through.

We are in the fortunate position of having a property already in the town we are moving to so can move into that but as it's much smaller all our belongings would have to go into storage so would prefer to find a suitable place as a permanent home before the stamp duty holiday ends next March. Houses are going so fast - sometimes before they even go online that we daren't do anything until this one is finalised. We wanted to reserve a new build last week but heard on Monday the developer had decided to go with the buyer who got there before us - in some respects this was a relief as we found out it won't be completed until April next year so would have to pay the stamp duty.

My son sold his house a couple of years ago via Purple Bricks and said he would go with a local agent next time for similar reasons as above.

Given your previous experience it's understandable you are so anxious. I hope you sell soon.

Bluedaisy

Just looked franbern but cannot see it! Think I’m going mad ?

It’s on the House and Home Forum Bluedaisy

Yup, Been there, got the tshirt. We spent last year sofa surfing with family as one after another purchase fell through. Three lots of paying out before we finally, with cash in our hands, managed to buy this house.

If we'd known it would take a year we would have rented but every time we were (supposedly) doing a quick purchase and only weeks away from moving in.

I didn't appreciate how people would lie ? about their circumstances.

If it's any comfort the Scottish system is no better with its sealed bids. My sister was outbid 11 times, having paid for surveys and then in desperation massively over I'd on the the twelfth house. She found out from the neighbours that the next highest bid was thousands less than hers.

Just looked franbern but cannot see it! Think I’m going mad ?

Thank you Franbern

The thread you are looking for is Help Calm Me ....... etc. It is now on its 6th group. We all joined it when when we were in the process of buying and selling and many of us moving quite a distance away. Do have a look at this, it is a great support and definitely helped me get through the dreadful stresses of this process last year.
Personally I think you should use Estate Agents - but there of course, Purple Bricks, which is very much cheaper.
Rightmove is the main 'goto' site for people looking in any area for property.
If you try to get a cash purchaser for your present property, and also look for a property with a very short chain, or preferably one where there is no chain, then there is no reason why it should not all go through before the end of March.
Do have a look at this other thread, most of us have ended happily and am loving our new homes.