Just had a seller withdraw right before exchange. They proposed the tentative completion date (to solicitors). While we were progressing the searches, survey etc along those timelines they changed their plan for the property they were moving to (even said they were looking to move to interim temporary accommodation). But then just before exchange they said their solicitor had pointed out an issue with the lease there and now they weren't willing to move to a temporary accommodation either! Stretching the meaning of the term "change of circumstances" like a rubber band to justify not preparing for a move!
I had a couple offer a silly amount off ‘asking’ initially but as they increased, one annoying step at a time, I realised after watching Charlie that the buyers were never showing their maximum comfortable offer. So, I showed them what it was, against the advice of the agent, by insisting on our minimum comfortable price: the original ‘asking’ amount. And, they agreed to it. This could only happen in a buyers’ market maybe as our hope was that with a reasonable price for ‘asking’ we would get multiple offers but in five weeks only a single meaningful offer was advanced by our agent. Fortunately again on Charlie’s advice, we only signed with this apparently underperforming agent for six weeks. The sad thing was that we did all the agent interview practice that Charlie had offered and thought we had a caught a good one. You can never be sure.
According to the Tory graph, Rishi is considering expanding the banding allowance on stamp duty from £250k to £300k. The message is pay less in November, this dampening the market now. He needs to squash this rumour now as it's like announcing next week's lottery numbers. In fact that's a genius idea because then the prize would be very small and it would be a Darwinian style punishment for anyone choosing different numbers.
Hi Charlie, thanks very much for your channel. I've heard you say a few times that we should be out viewing properties if we're serious buyers. I'm wondering why? Is it to build connections with local agents? Or in case we discover we like a house that we didn't like online? Thank you!!!
Hi. Firstly, it’s the only way to find out first hand what’s happening in the market for homes you want right now. Secondly, it’s a way to get yourselves on agent’s radars as serious buyers. Thirdly, you only need to find one bargain, right plane right time, to get a home at a great price. That can only happen if you’re out viewing. 👍🏻
Hard not to feel you are over paying where I am. Houses selling over guide regularly in the 300-550 bracket for 3-4 bedroom in depend properties in a suburb of Nottingham. What you think is expensive , the other 12 people viewing don’t and offers go in And I know the offers and sold prices as mostly friends etc are selling and moving within the area as well
One of my bosses is kicking himself for missing out on a nice house in Cheshire so much so that he is now thinking of moving out of country, just buy will ya!
Why should anyone buy? They don’t have to. This market is for people risking their financial well being. This market is now all about people who are left ‘holding the bag’..
Charlie, wanted to share what I thought was a surreal conversation with an Estate Agent in Northern Ireland. We placed a cash offer and refused to budge as 2 or 3 FTB with mortgage joined bidding. We finally gave our top offer which was around 2 grand below the FTB with mortgage. Agent would call and harangue us to increase our offer. I told this very "nice" woman its a cash offer, no vagaries of the banks surveyor, but she told me with the straight face the following... "oh cash buyers are worth far far less than mortgage buyers. Cash buyers can change their mind whereas Mortgage buyers are tied to the property. Mortgage buyers are better and more reliable than cash buyers" I just said that's an interesting theory but my offer is my offer and I am not raising it a brass farthing. Am I the only one who thinks her comments are utter rubbish?
Question: I recently made an offer 280k on a house priced at OIEO 300k. It’s been on the market since Nov-23 and is listed through two EA’s. The one I offered through haven’t been good (v blunt, not willing to see it the vendor will negotiate etc) am I within my right to contact the other EA? Thanks again for your videos, as always great stuff! 🫶🏼
Have they actually passed your offer to the seller? They’re required to do so, so seek confirmation. Any doubts, tell them you’ll talk to the other agent. Some agents just get too hardball through inexperience.
I was happy with my offer but now the survey says 12k of repairs. Higher than average for this age property. 4k of it is the garage which is not waterproof and I did not know Am I right in reducing my offer? Am a cash buyer. Not a boomer. No current income at all. This stops me doing the things I wanted to do to the place 😮
I would inform agent/ vendor of the surveyor discovery of 12k repairs, place a lower offer and if they fail to act then just walk away. House prices are dropping for sure, always a new house to find and you're a cash buyer too, a bonus on your part. Good luck.
Just had a seller withdraw right before exchange. They proposed the tentative completion date (to solicitors). While we were progressing the searches, survey etc along those timelines they changed their plan for the property they were moving to (even said they were looking to move to interim temporary accommodation). But then just before exchange they said their solicitor had pointed out an issue with the lease there and now they weren't willing to move to a temporary accommodation either! Stretching the meaning of the term "change of circumstances" like a rubber band to justify not preparing for a move!
I had a couple offer a silly amount off ‘asking’ initially but as they increased, one annoying step at a time, I realised after watching Charlie that the buyers were never showing their maximum comfortable offer. So, I showed them what it was, against the advice of the agent, by insisting on our minimum comfortable price: the original ‘asking’ amount. And, they agreed to it. This could only happen in a buyers’ market maybe as our hope was that with a reasonable price for ‘asking’ we would get multiple offers but in five weeks only a single meaningful offer was advanced by our agent. Fortunately again on Charlie’s advice, we only signed with this apparently underperforming agent for six weeks. The sad thing was that we did all the agent interview practice that Charlie had offered and thought we had a caught a good one. You can never be sure.
You only have to see how many houses are for sale to see where the market is going
According to the Tory graph, Rishi is considering expanding the banding allowance on stamp duty from £250k to £300k. The message is pay less in November, this dampening the market now. He needs to squash this rumour now as it's like announcing next week's lottery numbers. In fact that's a genius idea because then the prize would be very small and it would be a Darwinian style punishment for anyone choosing different numbers.
I believe you might be right, however I haven't seen much movement in Cornwall over the last year or so
Hi Charlie, thanks very much for your channel.
I've heard you say a few times that we should be out viewing properties if we're serious buyers. I'm wondering why? Is it to build connections with local agents? Or in case we discover we like a house that we didn't like online?
Thank you!!!
Hi. Firstly, it’s the only way to find out first hand what’s happening in the market for homes you want right now.
Secondly, it’s a way to get yourselves on agent’s radars as serious buyers.
Thirdly, you only need to find one bargain, right plane right time, to get a home at a great price. That can only happen if you’re out viewing. 👍🏻
Hard not to feel you are over paying where I am. Houses selling over guide regularly in the 300-550 bracket for 3-4 bedroom in depend properties in a suburb of Nottingham.
What you think is expensive , the other 12 people viewing don’t and offers go in
And I know the offers and sold prices as mostly friends etc are selling and moving within the area as well
Hi Charlie, could I have the email template for first time cash buyer? many thanks!
mhwc.co.uk/suggested-email-template-for-first-time-buyers-making-an-offer-with-a-mortgage/
@@MovingHomewithCharlie Thank you very much!💜😊
One of my bosses is kicking himself for missing out on a nice house in Cheshire so much so that he is now thinking of moving out of country, just buy will ya!
Why should anyone buy? They don’t have to. This market is for people risking their financial well being. This market is now all about people who are left ‘holding the bag’..
@@iano4027 You know my boss !
Charlie, wanted to share what I thought was a surreal conversation with an Estate Agent in Northern Ireland.
We placed a cash offer and refused to budge as 2 or 3 FTB with mortgage joined bidding. We finally gave our top offer which was around 2 grand below the FTB with mortgage. Agent would call and harangue us to increase our offer. I told this very "nice" woman its a cash offer, no vagaries of the banks surveyor, but she told me with the straight face the following...
"oh cash buyers are worth far far less than mortgage buyers. Cash buyers can change their mind whereas Mortgage buyers are tied to the property. Mortgage buyers are better and more reliable than cash buyers"
I just said that's an interesting theory but my offer is my offer and I am not raising it a brass farthing.
Am I the only one who thinks her comments are utter rubbish?
She’s talking nonsense!
You should have asked her why mortgage buyers are tied to the property. Would be interesting to see how she would have spun that one!
Question: I recently made an offer 280k on a house priced at OIEO 300k. It’s been on the market since Nov-23 and is listed through two EA’s. The one I offered through haven’t been good (v blunt, not willing to see it the vendor will negotiate etc) am I within my right to contact the other EA?
Thanks again for your videos, as always great stuff! 🫶🏼
Have they actually passed your offer to the seller? They’re required to do so, so seek confirmation. Any doubts, tell them you’ll talk to the other agent. Some agents just get too hardball through inexperience.
Thanks Charlie, much appreciated. I’ll give that a try, hopefully that makes the difference 😊
do what he suggested in another video. Put your offer in writing and post it through the letterbox
@@garethwilliams4467 cheers, it’s an inheritance property so I don’t know where the vendors live.
I was happy with my offer but now the survey says 12k of repairs. Higher than average for this age property. 4k of it is the garage which is not waterproof and I did not know Am I right in reducing my offer? Am a cash buyer. Not a boomer. No current income at all. This stops me doing the things I wanted to do to the place 😮
Reduce offer based on survey results if not acceptable to sellers move on to next one, it's a buyers market
I would inform agent/ vendor of the surveyor discovery of 12k repairs, place a lower offer and if they fail to act then just walk away. House prices are dropping for sure, always a new house to find and you're a cash buyer too, a bonus on your part. Good luck.
@@exploringsuffolk thank you 👍
@@rstrawbury9087 thank you 👍
Just another dump on the market someone is looking to unload on some poor sucker.