Moving house sucks the big one....
27 January 2006, 09:07 PM
#1
Scooby Regular
Thread Starter
Join Date: Sep 2001
Location: A big town with sh1t shops: Northampton
Posts: 21,366
Likes: 0
Received 0 Likes
on
0 Posts
Moving house sucks the big one....
Found house we wanted to move into, so put our house on the market over a week ago. Found out today that someone else has sold their house before us and the chain is sound. Bummer!
So, back to square one. Do we still keep our house on the market and find something else or take it off until we see something again?
It was such a good deal, obviously lots of people thought so too.
So, back to square one. Do we still keep our house on the market and find something else or take it off until we see something again?
It was such a good deal, obviously lots of people thought so too.
27 January 2006, 09:26 PM
#3
Scooby Regular
Thread Starter
Join Date: Sep 2001
Location: A big town with sh1t shops: Northampton
Posts: 21,366
Likes: 0
Received 0 Likes
on
0 Posts
We don't like anything on the market at the moment. Not as much as the house we wanted though.
I hear what you're saying. We'd be in a strong position I guess.
I hear what you're saying. We'd be in a strong position I guess.
27 January 2006, 09:53 PM
#5
Scooby Regular
iTrader: (6)
Join Date: Jun 2001
Location: Northampton, Xbox GamerTag - Neanderthal1976
Posts: 6,850
Likes: 0
Received 0 Likes
on
0 Posts
sell sell sell!
even if you have to rent for a couple of months, being chain free is such a strong bargaining (sp?) position when you do find the house you want it'll be worth it (unless you rent a 10 bed mansion in the mean time
)
even if you have to rent for a couple of months, being chain free is such a strong bargaining (sp?) position when you do find the house you want it'll be worth it (unless you rent a 10 bed mansion in the mean time
)
27 January 2006, 09:54 PM
#6
Scooby Regular
I would take your OFF the market .... if you don't you will be putting pressure upon yourself to find another place.
If you find another GOOD DEAL then, make YOURS a good deal too - then you will win any race ........... most people find a bargain and get greedy trying to get too much for theres and burning the candle at both ends (result is always fingers burnt)
Pete
If you find another GOOD DEAL then, make YOURS a good deal too - then you will win any race ........... most people find a bargain and get greedy trying to get too much for theres and burning the candle at both ends (result is always fingers burnt)
Pete
Trending Topics
27 January 2006, 09:56 PM
#8
Scooby Regular
Originally Posted by Neanderthal
sell sell sell!
even if you have to rent for a couple of months, being chain free is such a strong bargaining (sp?) position when you do find the house you want it'll be worth it (unless you rent a 10 bed mansion in the mean time )
even if you have to rent for a couple of months, being chain free is such a strong bargaining (sp?) position when you do find the house you want it'll be worth it (unless you rent a 10 bed mansion in the mean time
)Renting is nearly always bad news financially wise .....
Pete
27 January 2006, 09:57 PM
#9
Scooby Regular
Originally Posted by Clarebabes
We can't rent! I have a child to think of......
It's not illegal, what are you thinking of??
Pete
27 January 2006, 09:58 PM
#10
Scooby Regular
Thread Starter
Join Date: Sep 2001
Location: A big town with sh1t shops: Northampton
Posts: 21,366
Likes: 0
Received 0 Likes
on
0 Posts
I have been a home owner for 10 years, and at one time owned 2 of the buggers. Can't go backwards!
Funny that when we bought this house we had to pay the asking price and we sold our house the same day it went on the market!
Funny that when we bought this house we had to pay the asking price and we sold our house the same day it went on the market!
27 January 2006, 09:59 PM
#11
Scooby Regular
Thread Starter
Join Date: Sep 2001
Location: A big town with sh1t shops: Northampton
Posts: 21,366
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by pslewis
You can rent with a child !!!
It's not illegal, what are you thinking of??
Pete
It's not illegal, what are you thinking of??
Pete
27 January 2006, 10:05 PM
#13
Scooby Regular
Join Date: May 2002
Posts: 1,002
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Clarebabes
I have been a home owner for 10 years, and at one time owned 2 of the buggers. Can't go backwards!
Funny that when we bought this house we had to pay the asking price and we sold our house the same day it went on the market!
Funny that when we bought this house we had to pay the asking price and we sold our house the same day it went on the market!
My folks have done it loads, and when I was a child as well
27 January 2006, 10:19 PM
#15
Scooby Regular
Join Date: Oct 2004
Location: Kamloops British Columbia Canada
Posts: 1,863
Likes: 0
Received 0 Likes
on
0 Posts
We've just sold our house and will be renting just to secure the deal (buyers have nothing to sell )as we have found nothing we like we are renting , the equity we have in the house will more than pay the monthly rent (interest @ 4.5 % ) plus no mortgage ........ so how is renting short term a mugs game ??
Plus we will be in a good position when we see a house we like
Plus we will be in a good position when we see a house we like
27 January 2006, 11:03 PM
#17
Scooby Regular
Join Date: Jan 2006
Posts: 106
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Clarebabes
We can't rent! I have a child to think of......
I think thats pets or smoking you're think of as being a problem.
Unless you baby smokes you'll be fine.
27 January 2006, 11:29 PM
#19
Scooby Regular
Originally Posted by kbsub
so how is renting short term a mugs game ??
If prices move upwards while you are waiting then that 4.5% interest in the bank is going to look awfully silly!!
Now, if prices are falling - you win ...........
Pete
27 January 2006, 11:43 PM
#20
SN Fairy Godmother
Join Date: Nov 2003
Location: Far Far Away
Posts: 35,246
Likes: 0
Received 0 Likes
on
0 Posts
Hi Clare
We sold our house and had only one week left before we had to move
Our dream house came up and we moved in and rented it while we bought it It took 9 months to buy, out in the sticks, was well worth it.
We sold our house and had only one week left before we had to move
Our dream house came up and we moved in and rented it while we bought it It took 9 months to buy, out in the sticks, was well worth it.
27 January 2006, 11:56 PM
#21
Scooby Regular
Join Date: Oct 2004
Location: Kamloops British Columbia Canada
Posts: 1,863
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by pslewis
Because it is dead money ............ you rarely get the deposit back either!!
If prices move upwards while you are waiting then that 4.5% interest in the bank is going to look awfully silly!!
Pete
If prices move upwards while you are waiting then that 4.5% interest in the bank is going to look awfully silly!!
Pete
27 January 2006, 11:56 PM
#22
Scooby Regular
Join Date: Nov 2000
Posts: 26,619
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by pslewis
Because it is dead money ............ you rarely get the deposit back either!!
If prices move upwards while you are waiting then that 4.5% interest in the bank is going to look awfully silly!!
Pete
If prices move upwards while you are waiting then that 4.5% interest in the bank is going to look awfully silly!!
Pete
Anyway - Clare - The whole thing is feked up. It is a fekin wonder anyone ever moves house. We had a 'sound' chain which went ****faced last week. We should have moved this week. Today I came up with plan z. (alreay used plan a thru y)
Our chain collapsed cos the FTB couldn't get a mortgage for a 60k house. Our house is at the blunt end of the chain. Selling for 400k buying for 600k. Whole process was stressing me so much that today I ended up throwing 9k of savings into a btl mortgage and buying the house at the bottom of the chain. Contract on condition that everyone in the chain plays by my rules
Managed to hit 4 of 7 solicitors today and the rest are scheduled for Monday. Strangely everyone thinks I am insane
28 January 2006, 12:03 AM
#23
Scooby Regular
Originally Posted by kbsub
The interest on my equity will pay the rent , that's not dead money ... Its the banks money !
It's the banks money is it??
So, the interest isn't actually real??
You live in a pixie dancing dream world
Pete
28 January 2006, 12:13 AM
#25
Scooby Regular
Join Date: Nov 2000
Posts: 26,619
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by pslewis
MUG!!
It's the banks money is it??
So, the interest isn't actually real??
You live in a pixie dancing dream world
Pete
It's the banks money is it??
So, the interest isn't actually real??
You live in a pixie dancing dream world
Pete
I thiught there was going to ba a crash? You said there was in 1978 - must be nearly true now
28 January 2006, 12:19 AM
#26
Scooby Regular
You sell in 6 months and buy the property when its ready ..... NO rent payments and your money remains in property.
Lets say the purchase falls through and prices have gone up 5% in 8 weeks, you can't find anything that you like, you are paying someone elses mortgage for them, you end not even being able to buy the house you sold as the £200k is STILL £200k ..................
Hmmmmmmmmmmmmm ............ like I said Pixie Dixie land
Pete
Lets say the purchase falls through and prices have gone up 5% in 8 weeks, you can't find anything that you like, you are paying someone elses mortgage for them, you end not even being able to buy the house you sold as the £200k is STILL £200k ..................
Hmmmmmmmmmmmmm ............ like I said Pixie Dixie land
Pete
28 January 2006, 12:23 AM
#27
Scooby Regular
Join Date: Nov 2000
Posts: 26,619
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by pslewis
You sell in 6 months and buy the property when its ready ..... NO rent payments and your money remains in property.
28 January 2006, 08:53 AM
#28
Scooby Regular
Join Date: Oct 2004
Location: Kamloops British Columbia Canada
Posts: 1,863
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by fast bloke
OK - Sheep - heres the deal - I sell my house and clear the mortgage - I have 200k equity. I have an offer on another house that I can't move into for 6 months. I bung the 200k in a decent account and get 800 a month. I pay 800 a month for rental and 0 a month for mortgage. In 6 months I have avoided 6 mortgage payments and moved in at the old prices. At what point does the bank win?
House prices rise 5% in 8 weeks
Think its you pixie land Pete
28 January 2006, 08:58 AM
#29
Scooby Regular
Thread Starter
Join Date: Sep 2001
Location: A big town with sh1t shops: Northampton
Posts: 21,366
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Thomas Wainwright
I think thats pets or smoking you're think of as being a problem.
Unless you baby smokes you'll be fine.
Unless you baby smokes you'll be fine.
Anyway, going to the estate agents this morning, and I mean plural. There must be something out there. There is a house on a road round the corner, but they've painted there kitchen doors with blue gloss paint......
28 January 2006, 09:17 AM
#30
Scooby Regular
iTrader: (2)
Join Date: May 2005
Location: Cardiff
Posts: 2,266
Likes: 0
Received 0 Likes
on
0 Posts
Problem with any chain at the moment is the lack of FTB's - report on BBC this morning said FTB's have reduced by more than 50% over the last 3 years - and I bet most of that reduction has come over the last year !
This is always an issue when selling houses and relying on a chain - you go to the seller and say 'I'll give you £200,000 for the house' - they agree and say 'how quickly can you complete ?' you say 'erm... dont know, when I sell my house, and the person buying mine sells theirs, and thats if the person buying theirs can find a buyer' etc...
Getting the timing right is the hardest thing, in a strong market its not such an issue as your house isnt likely to hang around, and if one sale falls through, you can probably find another buyer.
At the moment though, with houses sitting around for months without any offers..... if the house you want to buy is a bargain, price yours cheap to get shot of it asap so you dont lose out on the one you want to buy.
This is always an issue when selling houses and relying on a chain - you go to the seller and say 'I'll give you £200,000 for the house' - they agree and say 'how quickly can you complete ?' you say 'erm... dont know, when I sell my house, and the person buying mine sells theirs, and thats if the person buying theirs can find a buyer' etc...
Getting the timing right is the hardest thing, in a strong market its not such an issue as your house isnt likely to hang around, and if one sale falls through, you can probably find another buyer.
At the moment though, with houses sitting around for months without any offers..... if the house you want to buy is a bargain, price yours cheap to get shot of it asap so you dont lose out on the one you want to buy.