Reply to: House Chain Stress

[OwlHoot]

There go's the Bank Holiday DIY plans!

Holy carp - That's the worst wrong apostrophe I think ever seen!

[CloudWalker]

They are now saying they hope to exchange / complete September
There go's the Bank Holiday DIY plans!

[norrahe]

I sold my house in Sept last year and still waiting

Guy at top of chain broke off twice because he somehow felt the house was not for him. Then eventually found one and we were meant to exchange on Aug 13 but the vendor at top of chain decided to not sell at the very last minute. On top of all this we had a dispute in middle of chain where the couple were splitting and the guy wanted ££££ more at last minute, that delayed things by a month.

Anyway we have a much shorter chain now and hoping to exchange in 2 weeks.

I had someone pull out a few days before exchange as it turned out they had lied about actually having an agreed mortgage. Coupled with the stress of going through a divorce at the time, it really didn't help matters at all.

[kyber]

Alright, who has created this most tedious of all sockies ? If he posts some more I might need a vomit bucket.

Go forth and vomit. I shall try to wind in my sockie like behaviours (or at least create a puppet, rather than using an account that is so well associated with my public identity, for such posts).

[shaunbhoy]

No idea what a c0cksocket is

So along with scruples, you don't possess a mirror either?

[fullyautomatix]

I sold my house in Sept last year and still waiting

Guy at top of chain broke off twice because he somehow felt the house was not for him. Then eventually found one and we were meant to exchange on Aug 13 but the vendor at top of chain decided to not sell at the very last minute. On top of all this we had a dispute in middle of chain where the couple were splitting and the guy wanted ££££ more at last minute, that delayed things by a month.

Anyway we have a much shorter chain now and hoping to exchange in 2 weeks.

[fullyautomatix]

It has worked considerably in our favour, and that of several friends, each time we have done it. The principle is that there is little incentive for an EA (and the bods working for an EA who only get around 5% of the 1 - 1.5% fee the EA company earns) to make any more effort to sell your home and get the best price possible than just selling whatever they can with the least amount of effort, especially if your property is not a higher value property in the market area.

By, say, taking the average suggested selling price-point for your home of a number of EAs in the area, and then offering them their basic % up to that price-point, then saying, for example, 5% (inc VAT) for anything over that price-point up to a higher price point and then 10% (inc VAT) for anything over that higher price-point you make it much more interesting and worthwhile for the EA to do a lot more to maximise the sale price achieved. They can get more money from selling your house than selling several similar or even a significantly higher priced house.

People are far too focused on squeezing the overall percentage down rather than looking at how to get the best work out of an EA and significantly improving the sale price achieved.

Each time, our house (and that of friends) has sold for a lot more than very similar (and, frankly, somewhat better properties) on sale in the same area.

Alright, who has created this most tedious of all sockies ? If he posts some more I might need a vomit bucket.

[kyber]

The second bit? Who are you trying to kid?

It has worked considerably in our favour, and that of several friends, each time we have done it. The principle is that there is little incentive for an EA (and the bods working for an EA who only get around 5% of the 1 - 1.5% fee the EA company earns) to make any more effort to sell your home and get the best price possible than just selling whatever they can with the least amount of effort, especially if your property is not a higher value property in the market area.

By, say, taking the average suggested selling price-point for your home of a number of EAs in the area, and then offering them their basic % up to that price-point, then saying, for example, 5% (inc VAT) for anything over that price-point up to a higher price point and then 10% (inc VAT) for anything over that higher price-point you make it much more interesting and worthwhile for the EA to do a lot more to maximise the sale price achieved. They can get more money from selling your house than selling several similar or even a significantly higher priced house.

People are far too focused on squeezing the overall percentage down rather than looking at how to get the best work out of an EA and significantly improving the sale price achieved.

Each time, our house (and that of friends) has sold for a lot more than very similar (and, frankly, somewhat better properties) on sale in the same area.

[NotAllThere]

We've always broken the chain (put stuff in storage, stayed with family or rented accommodation) to improve our bargaining position, simplify the moving logistics (moving just ourselves twice is easier), and reduce stress.

Also, we have always offered Estate Agents more than their standard percentage with significant uplifts over certain amounts to incentivise them greatly.

I've done the first bit, or rather it just kind of worked out that way. If you can afford it, it's a good way to proceed.

The second bit? Who are you trying to kid?

[kyber]

Says the c0cksocket who openly admits to routinely reneging on house purchases to improve their own finances. You obviously don't do Irony!

I recognise irony, and what you posted did not qualify. No idea what a c0cksocket is, some immature insult I guess. I have never reneged on any financial dealing. I shall not respond to your childishness again.

[shaunbhoy]

Er, not sure why you would be so offensive and rude. Hope you are getting the help you clearly need.

Says the c0cksocket who openly admits to routinely reneging on house purchases to improve their own finances. You obviously don't do Irony!

[kyber]

Er, not sure why you would be so offensive and rude. Hope you are getting the help you clearly need.

[Qdos Contractor]

I had an 8 month nightmare where the bottom of the chain pulled out twice. We had a baby in the middle of it all as well. It was ridiculously stressful.

Annoyingly we originally had the option of a cash buyer, but accepted an offer from someone with a chain for a couple of thousand more. Big mistake.

[shaunbhoy]

We've always broken the chain (put stuff in storage, stayed with family or rented accommodation) to improve our bargaining position, simplify the moving logistics (moving just ourselves twice is easier), and reduce stress.

Also, we have always offered Estate Agents more than their standard percentage with significant uplifts over certain amounts to incentivise them greatly.

No you haven't. You just think it's cool to suggest that you did.
You probably still live at home with your parents and jerk off into your dirty socks most nights.

HTH

[AtW]

My House was sold back in March and I was hoping to exchange contracts today as we've all agreed to move over the bank holiday weekend next week.
But Just have the dreaded phone call that they can’t proceed as someone at the top of the chain is still waiting on a couple of queries. FFS!

I now know why people say moving house is the most stressful time of your life

On a plus side - your house value gone up by estimated +10000% since March.