Another house sale disaster- the sequel !!!
Jan 11th 2005, 11:46 pm
#16
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Joined: Oct 2002
Location: UK 2 Oz, Oz 2 UK, Been there, done that, got the tee-shirt!
Posts: 773
Re: Another house sale disaster- the sequel !!!
We sold our house October, cash buyers, they agreed to complete before xmas as we reduced the asking price.
The contracts have been drawn up since Nov 12th but we found out just before xmas that they are NOT cash buyers and are waiting for their mortgage to be agreed!
This weeks we heard from the estate agent that they now have the money so we are just waiting for them to sign the contract.
I am soooo bloody mad, feel like telling them to stick it but wont. House had been on the market since March last year and we have been in oz the last 7 mths.
Grrrrrrrr
The contracts have been drawn up since Nov 12th but we found out just before xmas that they are NOT cash buyers and are waiting for their mortgage to be agreed!
This weeks we heard from the estate agent that they now have the money so we are just waiting for them to sign the contract.
I am soooo bloody mad, feel like telling them to stick it but wont. House had been on the market since March last year and we have been in oz the last 7 mths.
Grrrrrrrr
Jan 12th 2005, 12:11 am
#17
Madwoman
Joined: Jan 2004
Location: Cranbourne North
Posts: 92
Re: Another house sale disaster- the sequel !!!
I can sympathise with everyone who has posted on here. Our house sale has been a disaster.
we had a buyer and still have a buyer, but to cut a long story short the chain fell apart as her buyer's morgage wasn't approved and the mortgage consultant was the lying **** in this saga and it dragged for the at least 4 months. We were already to sign contracts and had sent the animals to the shippers when it all went pear shaped, what a dilemma we had! So we put the house back on the market, borrowed some money and went anyway. We have been waiting to go for nealry 3 yrs and i couldn't face not going so we have taken a financial RISK and gone anyway, but hey we are young and have the rest of our lives to live in debt! lol
So we are here, the house is still for sale and we are still paying mortgage and rent. So i know how all of you feel, the housing system in the UK really suxs and needs changing NOW!!! On a positive we have had 5 viewings so far.....so who knows.....we keep praying as we need to get out the black hole that is threatening to swallow us....hummm i think not.......THat is our story, we had to leave as i couldn't face it and the fact we had sent the animals, so our house sits empty and alone and wanting to be loved! lol
Good luck all with your house sales, mine is now in the hands of the in-laws but that doesn't mean i don't lose sleep over it, but thumbs up to not having to show viewers around.....on another positive the market for January is supposed to have picked up......fingers and toes crossed for everyone as well as meself.
kate
we had a buyer and still have a buyer, but to cut a long story short the chain fell apart as her buyer's morgage wasn't approved and the mortgage consultant was the lying **** in this saga and it dragged for the at least 4 months. We were already to sign contracts and had sent the animals to the shippers when it all went pear shaped, what a dilemma we had! So we put the house back on the market, borrowed some money and went anyway. We have been waiting to go for nealry 3 yrs and i couldn't face not going so we have taken a financial RISK and gone anyway, but hey we are young and have the rest of our lives to live in debt! lol
So we are here, the house is still for sale and we are still paying mortgage and rent. So i know how all of you feel, the housing system in the UK really suxs and needs changing NOW!!! On a positive we have had 5 viewings so far.....so who knows.....we keep praying as we need to get out the black hole that is threatening to swallow us....hummm i think not.......THat is our story, we had to leave as i couldn't face it and the fact we had sent the animals, so our house sits empty and alone and wanting to be loved! lol
Good luck all with your house sales, mine is now in the hands of the in-laws but that doesn't mean i don't lose sleep over it, but thumbs up to not having to show viewers around.....on another positive the market for January is supposed to have picked up......fingers and toes crossed for everyone as well as meself.
kate
Jan 12th 2005, 7:58 am
#18
Good news everyone...
Joined: Jan 2004
Location: Menzies Creek, Melbourne
Posts: 132
Re: Another house sale disaster- the sequel !!!
We are still waiting to hear from our buyers if they are still interested, everything has gone really quiet and the survey on our house has still not been done. The buyers seemed very keen to move in quickly and even though they told us they needed a mortgage approved, they do not need to sell their house first as they are doing it up. It could be that they are having trouble getting approval for a mortgage as they will have 2 properties, but I wish they would keep us informed. It could all go belly-up really soon :scared:.
Dave.
Dave.
Jan 12th 2005, 9:24 am
#19
In Brisbane at last!!!
Joined: Jul 2004
Location: Brisbane
Posts: 589
Re: Another house sale disaster- the sequel !!!
Originally Posted by natty
Well you may all remember how my first house sale fell thru, then we put the house back on the market and sold it again in one day which was fantastic.
Now 8 weeks down the line from that offer we have discovered that our so called buyers have not sorted anything out- they keep telling the estate agent that they have sorted the mortgage and paid the solicitor for the searches but yesterday we found out they have not done either of these things and have been lying left, right and centre !!!!
Words cant really express how upsetting this is- if they didnt want our house then why didnt they say so- as it is we have just wasted the last 8 weeks- we were hoping to go at the end of Feb but I cant even be sure when we will be able to go now.
Our solicitor has told them that the house is going back on the market on Friday unless they pay for their searches and have the survey done but I am not holding my breath !!!
After the joy of receiving the visas I now feel trapped in my own house and its not a nice feeling.
Maybe they will get it all sorted this week and it will all be OK so please if you have any spare karma, then could you send it my way
Thanks
Nat
Now 8 weeks down the line from that offer we have discovered that our so called buyers have not sorted anything out- they keep telling the estate agent that they have sorted the mortgage and paid the solicitor for the searches but yesterday we found out they have not done either of these things and have been lying left, right and centre !!!!
Words cant really express how upsetting this is- if they didnt want our house then why didnt they say so- as it is we have just wasted the last 8 weeks- we were hoping to go at the end of Feb but I cant even be sure when we will be able to go now.
Our solicitor has told them that the house is going back on the market on Friday unless they pay for their searches and have the survey done but I am not holding my breath !!!
After the joy of receiving the visas I now feel trapped in my own house and its not a nice feeling.
Maybe they will get it all sorted this week and it will all be OK so please if you have any spare karma, then could you send it my way
Thanks
Nat
I agree with you - having the visas and not being able to sell your house does make you feel like you are trapped in your own house and it is a horrible feeling - I am in the same position.
We have had buyers pulling out etc and although we have a buyer again now - I'm not holding my breath.
You have my full sympathy and I tried to send you some karma - but it won't let me - I have to spread it around first before giving you anymore!
I really hope your buyers sort themselves out and if they don't that you do find another genuine buyer really quickly.
Keep your chin up!!
Shell
x
Jan 12th 2005, 9:49 am
#20
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Thread Starter
Joined: Jan 2004
Location: Hobart
Posts: 336
Re: Another house sale disaster- the sequel !!!
Just a quick note to say thank you to everyone for your words of support- it really saddens me to see that so many others are in the same boat.
At the end of the day- its not very nice to feel like we are out of control.
I hope that everyone on here going through the same hears some more positive news soon.
As for me, I dont hold out much hope- but hey- maybe a new buyer will come along with cash who wants to move in, in a month !!!!!
Maybe I will keep dreaming, or maybe I will have some more wine !!!!!!!
Once again, Thanks
Nat
At the end of the day- its not very nice to feel like we are out of control.
I hope that everyone on here going through the same hears some more positive news soon.
As for me, I dont hold out much hope- but hey- maybe a new buyer will come along with cash who wants to move in, in a month !!!!!
Maybe I will keep dreaming, or maybe I will have some more wine !!!!!!!
Once again, Thanks
Nat
Jan 12th 2005, 9:52 am
#21
Joined: Jul 2004
Posts: 12,063
Re: Another house sale disaster- the sequel !!!
Originally Posted by natty
Well you may all remember how my first house sale fell thru, then we put the house back on the market and sold it again in one day which was fantastic.
Now 8 weeks down the line from that offer we have discovered that our so called buyers have not sorted anything out- they keep telling the estate agent that they have sorted the mortgage and paid the solicitor for the searches but yesterday we found out they have not done either of these things and have been lying left, right and centre !!!!
Words cant really express how upsetting this is- if they didnt want our house then why didnt they say so- as it is we have just wasted the last 8 weeks- we were hoping to go at the end of Feb but I cant even be sure when we will be able to go now.
Our solicitor has told them that the house is going back on the market on Friday unless they pay for their searches and have the survey done but I am not holding my breath !!!
After the joy of receiving the visas I now feel trapped in my own house and its not a nice feeling.
Maybe they will get it all sorted this week and it will all be OK so please if you have any spare karma, then could you send it my way
Thanks
Nat
Now 8 weeks down the line from that offer we have discovered that our so called buyers have not sorted anything out- they keep telling the estate agent that they have sorted the mortgage and paid the solicitor for the searches but yesterday we found out they have not done either of these things and have been lying left, right and centre !!!!
Words cant really express how upsetting this is- if they didnt want our house then why didnt they say so- as it is we have just wasted the last 8 weeks- we were hoping to go at the end of Feb but I cant even be sure when we will be able to go now.
Our solicitor has told them that the house is going back on the market on Friday unless they pay for their searches and have the survey done but I am not holding my breath !!!
After the joy of receiving the visas I now feel trapped in my own house and its not a nice feeling.
Maybe they will get it all sorted this week and it will all be OK so please if you have any spare karma, then could you send it my way
Thanks
Nat
sorry to hear of your troubles with the house the same happened to me before i went out to oz the other year a young couple were buying it then 3 weeks before i was due to go out found they couldnt get a mortgage!!! supposed to have been checked and approved by estate agent anyway i had to go to oz and pay the mortgage on an empty house for six months the good news was on our return i sold it for 20 grand more than the original price.
chin up it will all work out in the end
Kay
p.s sent you karma
Jan 12th 2005, 11:17 pm
#22
Forum Regular
Joined: Jan 2005
Posts: 30
Re: Another house sale disaster- the sequel !!!
Originally Posted by tracey.d
I have just checked out this link. The contributors to this site appear to delight in the misfortune of people on this site. Why is that? Is it some kind of rivallry thing? If so, I am rather baffled by it all 
Wouldn't it be better to offer advice than gloat
Wouldn't it be better to offer advice than gloat What about the misfortune of young people who cannot afford to buy anywhere to live?
What about the misfortune of young people taking out 5 or even 6 times their salary mortgages to buy a hutch to live in?
What about the misfortune of an inflated property market that means the average age of a First Time Buyer is 34?
What about the misfortune of a generation that is having to put off having children until their late 30s - and many people only have 1 or none?
What about the misfortune of a country that now has a birth rate of 1.6 (instead of the traditional 2.4)
When a young person buys a property at a price way above any relationship with its intrinsic value - what happens to the 150k he or she borrows? What happens to all the extra mortgage debt taken on going up a property chain? I'll tell you what - the money moves up the chain to the person at the top so you can emigrate with 400k of other people's mortgage debt in your bank account. You haven't got some god given right to this huge windfall. You need to face the fact that the huge increases in prices have made property unaffordable for young people and that, like any asset bubble, prices will return to more affordable levels. We are in the beginning of a house price correction which will probably be more severe than the one in the early 1990s. If you really want to leave before the collapse, I would take 50k off my price and get out while there is still some movement in the market. Last time we had stagnation for about 5 years and it took 12 years for prices to get back to where they were in 1989.
Jan 12th 2005, 11:42 pm
#23
Joined: Jan 2005
Posts: 975
Re: Another house sale disaster- the sequel !!!
Originally Posted by Seriously
The misfortune of people on this site?! Wow, you people are desperate to leave the sinking ship called the UK and think you suffer from misfortune because no-one will buy your overpriced house.
What about the misfortune of young people who cannot afford to buy anywhere to live?
What about the misfortune of young people taking out 5 or even 6 times their salary mortgages to buy a hutch to live in?
What about the misfortune of an inflated property market that means the average age of a First Time Buyer is 34?
What about the misfortune of a generation that is having to put off having children until their late 30s - and many people only have 1 or none?
What about the misfortune of a country that now has a birth rate of 1.6 (instead of the traditional 2.4)
When a young person buys a property at a price way above any relationship with its intrinsic value - what happens to the 150k he or she borrows? What happens to all the extra mortgage debt taken on going up a property chain? I'll tell you what - the money moves up the chain to the person at the top so you can emigrate with 400k of other people's mortgage debt in your bank account. You haven't got some god given right to this huge windfall. You need to face the fact that the huge increases in prices have made property unaffordable for young people and that, like any asset bubble, prices will return to more affordable levels. We are in the beginning of a house price correction which will probably be more severe than the one in the early 1990s. If you really want to leave before the collapse, I would take 50k off my price and get out while there is still some movement in the market. Last time we had stagnation for about 5 years and it took 12 years for prices to get back to where they were in 1989.
What about the misfortune of young people who cannot afford to buy anywhere to live?
What about the misfortune of young people taking out 5 or even 6 times their salary mortgages to buy a hutch to live in?
What about the misfortune of an inflated property market that means the average age of a First Time Buyer is 34?
What about the misfortune of a generation that is having to put off having children until their late 30s - and many people only have 1 or none?
What about the misfortune of a country that now has a birth rate of 1.6 (instead of the traditional 2.4)
When a young person buys a property at a price way above any relationship with its intrinsic value - what happens to the 150k he or she borrows? What happens to all the extra mortgage debt taken on going up a property chain? I'll tell you what - the money moves up the chain to the person at the top so you can emigrate with 400k of other people's mortgage debt in your bank account. You haven't got some god given right to this huge windfall. You need to face the fact that the huge increases in prices have made property unaffordable for young people and that, like any asset bubble, prices will return to more affordable levels. We are in the beginning of a house price correction which will probably be more severe than the one in the early 1990s. If you really want to leave before the collapse, I would take 50k off my price and get out while there is still some movement in the market. Last time we had stagnation for about 5 years and it took 12 years for prices to get back to where they were in 1989.
I love my country but my country does not love me enough to make me want to stay on a sinking ship, because the thing I love more than my country is my family and I am not going to stay on this ship and watch them drown as adults.
I dont think anyone here believes they have a god given right to anything, I certainly dont. My husband and I have worked bloody hard for everything that we have and that isnt a lot and certainly not the 400k you quoted or anything like that.. I wish!!
Anyway thanks for the post because I was starting to have doubts and you reminded me why we wanted to go in the first place..
Jan 12th 2005, 11:57 pm
#24
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Joined: Jun 2004
Location: The Gold Coast
Posts: 3,069
Re: Another house sale disaster- the sequel !!!
Originally Posted by chattyshazza
I love my country but my country does not love me enough to make me want to stay on a sinking ship, because the thing I love more than my country is my family and I am not going to stay on this ship and watch them drown as adults.
I dont think anyone here believes they have a god given right to anything, I certainly dont. My husband and I have worked bloody hard for everything that we have and that isnt a lot and certainly not the 400k you quoted or anything like that.. I wish!!
Anyway thanks for the post because I was starting to have doubts and you reminded me why we wanted to go in the first place..
I dont think anyone here believes they have a god given right to anything, I certainly dont. My husband and I have worked bloody hard for everything that we have and that isnt a lot and certainly not the 400k you quoted or anything like that.. I wish!!
Anyway thanks for the post because I was starting to have doubts and you reminded me why we wanted to go in the first place..
Jan 13th 2005, 12:10 am
#25
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Joined: Oct 2002
Location: UK 2 Oz, Oz 2 UK, Been there, done that, got the tee-shirt!
Posts: 773
Re: Another house sale disaster- the sequel !!!
Yeh, yeh, yeh, heard it all before!
I for one, do not have the 400k you are talking about. I have lived in the uk from birth and worked bloody hard for what we have. It doesn't matter if we leave the uk or not, the situation will stay the same.
I do feel sorry for the young people of today though (have a teenager myself) and I wonder how they will ever afford to buy their own home. I didn't leave the uk because it was a sinking ship either!
Mandy
I for one, do not have the 400k you are talking about. I have lived in the uk from birth and worked bloody hard for what we have. It doesn't matter if we leave the uk or not, the situation will stay the same.
I do feel sorry for the young people of today though (have a teenager myself) and I wonder how they will ever afford to buy their own home. I didn't leave the uk because it was a sinking ship either!
Mandy
Jan 13th 2005, 2:07 pm
#26
In Brisbane at last!!!
Joined: Jul 2004
Location: Brisbane
Posts: 589
Re: Another house sale disaster- the sequel !!!
Originally Posted by chattyshazza
I love my country but my country does not love me enough to make me want to stay on a sinking ship, because the thing I love more than my country is my family and I am not going to stay on this ship and watch them drown as adults.
I dont think anyone here believes they have a god given right to anything, I certainly dont. My husband and I have worked bloody hard for everything that we have and that isnt a lot and certainly not the 400k you quoted or anything like that.. I wish!!
Anyway thanks for the post because I was starting to have doubts and you reminded me why we wanted to go in the first place..
I dont think anyone here believes they have a god given right to anything, I certainly dont. My husband and I have worked bloody hard for everything that we have and that isnt a lot and certainly not the 400k you quoted or anything like that.. I wish!!
Anyway thanks for the post because I was starting to have doubts and you reminded me why we wanted to go in the first place..
Well said Sharon!!!!
I also wish I was taking 400k, God can you imagine that!!!!
Shell
Jan 13th 2005, 2:50 pm
#27
Forum Regular
Joined: Jan 2005
Posts: 30
Re: Another house sale disaster- the sequel !!!
Originally Posted by chattyshazza
I love my country but my country does not love me enough to make me want to stay on a sinking ship, because the thing I love more than my country is my family and I am not going to stay on this ship and watch them drown as adults.
I dont think anyone here believes they have a god given right to anything, I certainly dont. My husband and I have worked bloody hard for everything that we have and that isnt a lot and certainly not the 400k you quoted or anything like that.. I wish!!
Anyway thanks for the post because I was starting to have doubts and you reminded me why we wanted to go in the first place..
I dont think anyone here believes they have a god given right to anything, I certainly dont. My husband and I have worked bloody hard for everything that we have and that isnt a lot and certainly not the 400k you quoted or anything like that.. I wish!!
Anyway thanks for the post because I was starting to have doubts and you reminded me why we wanted to go in the first place..
And, if your net wealth is largely your property wealth, you probably haven't worked 'bloody' hard for it - its just gone up in price (not value) to the point where a move abroad out of this asylum seems possible.
As you get yourself out of a situation, a young person has to get into one. There is something vaguely hypocritical about this.
I'd like you to explain why you think your property is 'worth' any particular amount of money and to explain why young people should have to take on a lifetime of debt so you can sell your house.
You can't have it both ways. If you are leaving because you can't see a future for your youngsters - don't expect someone esle's youngster to finance it.
Last edited by Seriously; Jan 13th 2005 at 2:55 pm. Reason: Want to add something.
Jan 13th 2005, 3:38 pm
#28
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Joined: Jan 2004
Location: Melbourne
Posts: 400
Re: Another house sale disaster- the sequel !!!
Originally Posted by Seriously
And, if your net wealth is largely your property wealth, you probably haven't worked 'bloody' hard for it - its just gone up in price (not value) to the point where a move abroad out of this asylum seems possible.
.
.
Here you go
1989 average house price = £70,000, average salary = £14,000 i.e. 5 to 1 ratio but mortgage rates were 15%+
today say average house price = £160,000 average salary = £28,000 so although ratio is worse @ 5.75, with mortgage rates @ 6.5% the repayments today are around 60-65% of after tax pay.
Jan 13th 2005, 8:20 pm
#29
Joined: Jul 2004
Posts: 12,063
Re: Another house sale disaster- the sequel !!!
Originally Posted by Seriously
I think you have missed my point completely. My point is that (and I agree with you) there is no future here for young people. My eldest lad is 16 - how on earth is he ever going to get married and have kids when he is older? I just don't know. Its all to do with property prices. You people on here are moaning you can't sell your properties - but for them to sell some young person has to take on a lifetime of crippling mortgage debt. Still think the misfortune belongs to the young person in this situation.
And, if your net wealth is largely your property wealth, you probably haven't worked 'bloody' hard for it - its just gone up in price (not value) to the point where a move abroad out of this asylum seems possible.
As you get yourself out of a situation, a young person has to get into one. There is something vaguely hypocritical about this.
I'd like you to explain why you think your property is 'worth' any particular amount of money and to explain why young people should have to take on a lifetime of debt so you can sell your house.
You can't have it both ways. If you are leaving because you can't see a future for your youngsters - don't expect someone esle's youngster to finance it.
And, if your net wealth is largely your property wealth, you probably haven't worked 'bloody' hard for it - its just gone up in price (not value) to the point where a move abroad out of this asylum seems possible.
As you get yourself out of a situation, a young person has to get into one. There is something vaguely hypocritical about this.
I'd like you to explain why you think your property is 'worth' any particular amount of money and to explain why young people should have to take on a lifetime of debt so you can sell your house.
You can't have it both ways. If you are leaving because you can't see a future for your youngsters - don't expect someone esle's youngster to finance it.
Jan 13th 2005, 9:04 pm
#30
Joined: Jan 2005
Posts: 975
Re: Another house sale disaster- the sequel !!!
Originally Posted by Seriously
I think you have missed my point completely. My point is that (and I agree with you) there is no future here for young people. My eldest lad is 16 - how on earth is he ever going to get married and have kids when he is older? I just don't know. Its all to do with property prices. You people on here are moaning you can't sell your properties - but for them to sell some young person has to take on a lifetime of crippling mortgage debt. Still think the misfortune belongs to the young person in this situation.
And, if your net wealth is largely your property wealth, you probably haven't worked 'bloody' hard for it - its just gone up in price (not value) to the point where a move abroad out of this asylum seems possible.
As you get yourself out of a situation, a young person has to get into one. There is something vaguely hypocritical about this.
I'd like you to explain why you think your property is 'worth' any particular amount of money and to explain why young people should have to take on a lifetime of debt so you can sell your house.
You can't have it both ways. If you are leaving because you can't see a future for your youngsters - don't expect someone esle's youngster to finance it.
And, if your net wealth is largely your property wealth, you probably haven't worked 'bloody' hard for it - its just gone up in price (not value) to the point where a move abroad out of this asylum seems possible.
As you get yourself out of a situation, a young person has to get into one. There is something vaguely hypocritical about this.
I'd like you to explain why you think your property is 'worth' any particular amount of money and to explain why young people should have to take on a lifetime of debt so you can sell your house.
You can't have it both ways. If you are leaving because you can't see a future for your youngsters - don't expect someone esle's youngster to finance it.
Not entirely sure what your argument is
As long as there is a chronic shortage of housing in England property prices will always remain high but this is something you should take up with the goverment not us.
Is it that we are taking our money to Australia rather than putting it back into the economy here. Consumer spending is at its highest and it has not made any impact on house prices, so if we move five miles or ten thousand miles house prices will remain high.
My net worth is not up for discussion. And we have worked bloody hard
Can you please explain to me why you are not leaving the country? and why you will not be selling your house at a reduced price to help a young couple climb on the housing ladder? and why you think that we should stay and watch our children drown!!
You should be encouraging us, the more people that leave the country the more houses available and if enough of us leave there will no longer be a housing crisis and prices will come down.
ps, note I said "you" and not "you people" I am not a bigot