Anybody willingto share their experience of House Sale?

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batty

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I have my house on the market for 2 weeks (not long I know). I've had 2 offers either of which I'd be happy to accept but both potential buyers have houses to sell & neither have signed contracts. I have had lots of viewings

The EA (one of the larger agencies) says that most FTB are sitting on the fence waiting to see if Stamp duty will be abolished in the December budget.

Just wondering if anybody is in a similar situation.
 
It totally depends how fast you want to sell your house. From the day you agree on a bid on your house, it will take minimum of a few months for it to be a done deal, even with a first time buyer. When the buyer also has a house to sell, it can take much much much longer and there is always a risk - check what stage the potential buyers are at with selling their own house - have they even put it on the market yet...have they any offers etc etc.
My advise is if you want your house sold fast, take the first offer that you are happy with, but make sure they are a good buyer..i.e. either first time, or their house is at least on the market already.
 
A friend of mine has been trying to sell his house in D6 (circa 550k) since July. I'm not allowed to ask about it anymore, he bought a new house before selling, so you can imagine the stress...
 
If he wants to sell it,then drop the price.Just because his neighbours house sold for 550K in may/june does not mean he will get 550K or 550K+10% now,things have changed !.

To the OP a ftb with mortgage approval is the best option for a quick sale.With a chain in operation there is more chances of someone pulling out,stalling the whole thing.Price is important,but so is a quick sale in the current climate.
 
Thanks for all your replies.

I put the house on the market at 60K (15%) less than suggested by the EA to get a "quick" sale.

The house is unlikely to be bought by a FTB but the Trader Uppers are waiting for FTB to buy their original house. I'll happily take the asking price or slightly less so long as the buyer has signed contracts on their own property. I appear to have plenty of interest & offers.

On different note there was a viewing set up for Saturday (6 parties). The EA arrived an hour late so my potential buyers did not wait. She said that she managed to get 2 of them on their mobiles BUT "they are obviously impatient people and said they couldn't wait any longer"!!! I'll be talking to her boss this morning.
 
Good estate agents are worth their weight in gold in a falling market and are very busy indeed selling off properties for their "preferential customers" if you know what I mean... Perhaps you could incentivise your EA? Or maybe you've an EA in your circle of friends/family whom you can call on a favour? Otherwise, you could just sit and wait for that buyer to come along...
 
batty said:
On different note there was a viewing set up for Saturday (6 parties). The EA arrived an hour late so my potential buyers did not wait. She said that she managed to get 2 of them on their mobiles BUT "they are obviously impatient people and said they couldn't wait any longer"!!! I'll be talking to her boss this morning.
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That's definitely not on!! Six parties interested and she doesn't bother to show up!:eek: I think you've the worst estate agent in the world.
 
liteweight said:
That's definitely not on!! Six parties interested and she doesn't bother to show up!:eek: I think you've the worst estate agent in the world.
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Maybe she got a better offer elsewhere? It's harder to sell houses cos the market is flooded - more work is required. She must have got tied up (perhaps closing a sale etc.) Talk to the EA and incentivise them - it's a win-win situation and you'll be guaranteed that they won't be late again (if the price is right).
 
How would you suggest I incentivise the EA?? I have already fixed a fee with a bonus if they get me above a certain price.

This is one of the Biggest EA but they send junior staff to show the house. As far as I can see all EA do this.
 
batty said:
How would you suggest I incentivise the EA?? I have already fixed a fee with a bonus if they get me above a certain price.

This is one of the Biggest EA but they send junior staff to show the house. As far as I can see all EA do this.
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You offer a cash bonus to the employee of the agency who introduces a buyer who proceeds to an exchange of contracts. In a thin market it may help.
 
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