Selling and Buying what to expect

H

HAPPYFEET

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Need some insight on what to expect from autioneers and potential buyers.Just put house on the market as we have out grown the house initialy my wife and I,then we had our 1st child and are expecting our 2nd in the new year so decided to sell up and move.In the same area we are living there is a new build going up and we had a look,the builder is looking for what I beleive is an "old" price something he may have got 6 months ago,but if we deal with him before the house's go on the market we may get a better deal.My Question is...

1.Do I put a deposit on the new house and take the price he gives us.
2.Do I wait and take the risk of not getting the house we want
3.something else????
 
Honestly? Arrange the sale of your existing house first then worry about where you move to.
 
Thats the initial plan until we saw the house we wanted,but the way the credit crunch has hit....I'll think its time to use the head instaed of the heart......how things have changed...a year ago everyone would be saying to put a deposit down.......Getting back to the good ould days!!Thanks for the input.
 
Do not agree to the current asking price whatever you do!!! Definitely try and sell your own house first as this could take anything up to a year or more and you may not get as much money as you expect from it especially in the current climate. By that stage the house you're looking at may have dropped dramatically in price and also there may be other houses on offer at lower prices by then too. Speaking from experience here !!!!
 
Will hold off until everything is signed sealed and delivered...from what I've read I might even hold on a bit longer..providing I get a buyer!!thanks...
 
i'd only hold off signing and sealing if you are willing to rent, by all means do your homework but if you get sale agreed on your own house you'll want then to move quickly on securing a house purchase unless as i said you want the inconvenience of moving into to tempory accomo with your pregnant wife & child, i agree with the other posters there is flexibility with any price in this current climate so if you like that house i'd started bargining! best of luck with it not a nice time to be selling & buying!
 
Put a returnable deposit on the house we want"home for life"and put house on the market 3/4 viewings over the last 4 weeks,but its so frustrating waiting!Thinking of reducing the price and getting sale agreed and passing the drop onto the new house if the developer acepts 10k less!!
 
HAPPYFEET said:
Put a returnable deposit on the house we want"home for life"and put house on the market 3/4 viewings over the last 4 weeks,but its so frustrating waiting!Thinking of reducing the price and getting sale agreed and passing the drop onto the new house if the developer acepts 10k less!!
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Sounds like you're acting a bit rashly about this. Do you really think this home for life in this new development is in danger of being sold off? Is that really likely? You would be in a better bargaining position with the developer if you weren't giving a deposit before you've even sold your existing home
 
legalhawk said:
i'd only hold off signing and sealing if you are willing to rent, by all means do your homework but if you get sale agreed on your own house you'll want then to move quickly on securing a house purchase unless as i said you want the inconvenience of moving into to tempory accomo with your pregnant wife & child, i agree with the other posters there is flexibility with any price in this current climate so if you like that house i'd started bargining! best of luck with it not a nice time to be selling & buying!
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This post makes it sound like the OP would have to move into homeless shelter before he gets a new place. If the OP were to receive a 10% reduction on the same house while renting for a year, wouldn't it be worth an additional move
 
groom said:
This post makes it sound like the OP would have to move into homeless shelter before he gets a new place. If the OP were to receive a 10% reduction on the same house while renting for a year, wouldn't it be worth an additional move
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While financially it might be worth the move, in terms of stress levels on a young family I don't think it would be worth the move.
 
HAPPYFEET said:
Put a returnable deposit on the house we want"home for life"and put house on the market 3/4 viewings over the last 4 weeks,but its so frustrating waiting!Thinking of reducing the price and getting sale agreed and passing the drop onto the new house if the developer acepts 10k less!!
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Sounds like you played your cards close to your chest and squeezed for a good deal there.;)
 
Not sure if things are going to work out the way we hope,but without our house being "sold" we have no negoiating power with developer,but if we do sell the house and have to drop the price will we will no choice but to drop our offer on next house!!Thats life I suppose!!
 
HAPPYFEET said:
Not sure if things are going to work out the way we hope,but without our house being "sold" we have no negoiating power with developer,but if we do sell the house and have to drop the price will we will no choice but to drop our offer on next house!!Thats life I suppose!!
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Make sure the developer has the money to finish the new development.
You don't want to be stuck on a building site for the next 5 years as he has no money to finish the project.
Is it a managed development, check out who will be covering the management fees if all the units are not sold.
 
Totally agree with hhh...h

I think there will be loads of unfinished developments all around the country which may not be finished for 5 - 10 years if ever. Developers are folding all over the place and there is definitely worse to come in the next 6-12 months as it is only recently that the banks have really started to squeeze.

I would not put a deposit on any unfinished house in the current climate ( at least not without some serious research into status of developer ) - there should be plenty of houses in finished estates on the market. Do you want your kids to grow up on a building site? This is not scaremongering - just a dose of reality
 
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