Selling My house Soon - Are there still buyers out there. - HotUKDeals
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Selling My house Soon - Are there still buyers out there.

wee_paul Avatar
8y, 7m agoPosted 8 years, 7 months ago
I am selling up and moving to Ireland and want to sell my house but I am getting worried about all of the negative comments in the news at the moment.

The way I see it is, if you want to buy a house, you are looking for a home to live in, not just an investment which may or may not make you lots of money in the short term. The news articles at the moment are probably putting people off from buying.

Mortgage deals although not as good as they have been, have just reverted back to the way they where 8 years ago when I bought my home. I started with a 95% mortgage at 6.39% rate fixed for 5 years.

Is there anybody out there in the same predicament or buyers holding off to see whats happening?.
wee_paul Avatar
8y, 7m agoPosted 8 years, 7 months ago
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#1
get your house on the market as soon as possible. if it's not on, people can't buy.

you pay estate agents only on the sale of your house, so if it doesn't sell, you haven't lost anything.

what about renting your house out? have a word with some letting agents to see if you can get somebody in to live in your house and pay your mortgage for you.
#2
I agree with you entirely, but, the problem is the number of people who buy homes outside of their price limit because of the cheap mortgages. These are the people who are causing the problems, because most of them are in danger of losing their homes due to the fact that they cannot keep up the payments. Particularly if their mortgage accounts revert to the true rates. Self inflicted due to stupidity and greed.
This might mean you have to wait a while to actually make a sale because the number of true buyers is small. Unless you are prepared to take a loss for the benefit of some investment outfit.
#3
[COLOR="Blue"]I was at a mortgage seminar recently and the economists were saying that if your house is in a desirable area, it will largely be unaffected however 'new builds' were most at risk in dropping in price.

If you are moving to N ireland, the good news is that prices have dropped there, especially 'new build' and it would appear there are bargans to be had.

My advice is to look at who had for sale boards up in your area nad see whose for sale boards have 'sold signs' on them. Then instruct that Estate Agent.[/COLOR]
#4
persoanlly have seen prices dropping as we r looking to move in a couple of years....so keep a eye out on houses we like.

i wouldnt hang around too long..get it on and fingers crossed...u still se sold boards as well... so its worth trying to sell...

i think the bigger houses are the ones that are struggling to sell...ie the bigger mortgages... normal size and small shouldnt be as much a hassle... good luck
#5
KDH001;1894580
I agree with you entirely, but, the problem is the number of people who buy homes outside of their price limit because of the cheap mortgages. These are the people who are causing the problems, because most of them are in danger of losing their homes due to the fact that they cannot keep up the payments. Particularly if their mortgage accounts revert to the true rates. Self inflicted due to stupidity and greed.


Don't think thats 100% true or fair, the fault also lies with the banks/mortgage lenders offering and encouraging people to take mortgages at a higher level (5x salary and above) - after all, people need to live somewhere...
#6
I am looking to build a house in the Irish Republic so will be largely unaffected by house price rises and falls on my new home but would like to have as much as possible to put towards my new build.

Personally I agree with the comments above. Some people have been silly in buying houses they are now struggling to afford.
I just wish the media would stop scaremongering. If they report there will be a shortage of bread tomorrow the sheep of this world go out and buy loads of bread, thus creating the shortage.
If the media tell people house prices will crash (through negative headline grabbing stories), house prives will indeed suffer because buyers lose confidence.
#7
Banks are just not lending as readily as they have been in recent years, making it harder for some to obtain a mortgage. Think that's the main problem. There's also fear that we maybe about to go into recession which is also putting some buyers off taking any risks.
#8
I don't think bank, building societies have particularly been 'encouraging' borrowers to borrow more than they can afford. Think how silly that sounds. People want to buy a home and they want the best they can get - usually more expensive.

I have noticed that first time buyers usually want to move into a home the same (or better) than the one they are leaving (i.e. their parents), their expectations are too high. When I moved into my forst house, it was affordable and much smaller / cheaper than the one I was used to living in. Nowdays, young people not only want the same as their parents but they want it fully furnished with large Lcd screen and all mod cons. Then they ask the lenders to 'stretch' their lending to accomodate.

To blame someone else for your inability to work out that you have say £900 per month to spend and then borrow an amount where you have to spend say £1,200 is pure stupidity on your part, not the lender. I have seen where that happens and the person also buys a quality car at £600 pm, goes to USA for a holiday say £4,000 , eats out and parties regularly and then blames everyone else for their inability to pay. How so ???????????? :thinking:

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