Anyone buying/selling a house right now?

[d000hg]

Anyone got anecdotal evidence how the Brexit vote is affecting buyers (and sellers I suppose)? Any sales wobbling or falling through, viewings drying up, etc?

Long term we could see all kinds of outcomes, very region specific, but I'm just about to put mum's house on the market and while I don't have much option but to proceed as planned and see what happens, I'm curious.

[FatLazyContractor]

I've got an offer on one of my properties 3 weeks ago.

So far, the buyer hasn't pulled back. Received documentation from the solicitor and the game still seems to be on.

Not sure for how long though

[GB9]

Two I was interested in have gone since the weekend. They were residential, not investment.

At the start of the year asking prices went up 10-15%. None of these have sold and are slowly coming back onto the market at the more realistic price. Usually through a different agent. Another one this morning.

[woohoo]

Anyone got anecdotal evidence how the Brexit vote is affecting buyers (and sellers I suppose)? Any sales wobbling or falling through, viewings drying up, etc?

Long term we could see all kinds of outcomes, very region specific, but I'm just about to put mum's house on the market and while I don't have much option but to proceed as planned and see what happens, I'm curious.

I'm looking around to buy, not sure if i should wait to see if a recession hits or just go ahead and buy. Last time I bought a house it was at the market peek just before the recession!

[bobspud]

Anyone got anecdotal evidence how the Brexit vote is affecting buyers (and sellers I suppose)? Any sales wobbling or falling through, viewings drying up, etc?

Long term we could see all kinds of outcomes, very region specific, but I'm just about to put mum's house on the market and while I don't have much option but to proceed as planned and see what happens, I'm curious.

Why don't you have an option? That sounds like a bad place to be from a sellers point of view in a turning market.

In the south west it seems to be softening above the 600k mark. There hasn't been much on the market but some of the big places are starting to move down wards. We have taken ours off the market as we were not so desperate to sell as we lost the place we wanted to buy and hadn't found anything else suitable.

[filthy1980]

I'm looking around to buy, not sure if i should wait to see if a recession hits or just go ahead and buy. Last time I bought a house it was at the market peek just before the recession!

same,

bought first home in Nov 2007 crashed ensued a few months later

just bought next home in a few weeks ago . . . market will probably crash by the time we move in

but hey ho

[d000hg]

Why don't you have an option? That sounds like a bad place to be from a sellers point of view in a turning market.

Because I've been left responsible for a house which is unoccupied. I don't want to be stuck paying the bills for it and I don't want to be a property owner in that part of the country, or a BTL/holiday let owner at all in particular!

In a sense it's 'free money' so it doesn't matter too much if we have to drop the price but I can't really sit on it for two years to see what happens.

Side-note: anyone have any tips on getting insurance for a dead person's house? I guess you just have to get more expensive unoccupied property insurance?

[BlasterBates]

Lets put it this way, the outlook for the housing market is pretty dire it's not got to get any better unless someone turns up and reverses Brexit.

[northernladuk]

Because I've been left responsible for a house which is unoccupied. I don't want to be stuck paying the bills for it and I don't want to be a property owner in that part of the country, or a BTL/holiday let owner at all in particular!

In a sense it's 'free money' so it doesn't matter too much if we have to drop the price but I can't really sit on it for two years to see what happens.

Side-note: anyone have any tips on getting insurance for a dead person's house? I guess you just have to get more expensive unoccupied property insurance?

IMO just sell it. It's highly dependant on my other factors like location, state, type of house etc which will keep the price steadyish. I don't think holding on to it for two years makes any sense whatsoever. You are gambling on the price movements when you could have taken the money and made some good wedge investing it properly. If it ended up going up so what, you will have moved on and forgotten about it to worry. If it goes down you've dodged a bullet and made something from the investment as well. Win win.

Keep hold of it and you are risking squatters, house crumbling, risk of a price drop etc... Can't see any benefits to be fair.

Sell it, re-invest the money and move on. Having an empty property which belonged to your parents is nothing but a millstone round your neck IMO.

[CretinWatcher]

IMO just sell it. It's highly dependant on my other factors like location, state, type of house etc which will keep the price steadyish. I don't think holding on to it for two years makes any sense whatsoever. You are gambling on the price movements when you could have taken the money and made some good wedge investing it properly. If it ended up going up so what, you will have moved on and forgotten about it to worry. If it goes down you've dodged a bullet and made something from the investment as well. Win win.

Keep hold of it and you are risking squatters, house crumbling, risk of a price drop etc... Can't see any benefits to be fair.

Sell it, re-invest the money and move on. Having an empty property which belonged to your parents is nothing but a millstone round your neck IMO.

Invest in what properly? QE has just re-started, rates are going to go negative.
I say overcome your aversion to BTL, hold on the house and rent it out.
Jut make sure you choose some good rental agents and get your nice free income stream.