Thursday 3 April 2008

Exchange Contracts or Exchange Rates?

This morning we were hoping to exchange contracts with our buyer for the sale of our UK house…..

This morning though, there is panic all round. Well I am panicking even if Bill remains calm. Apparently the buyer went round to see the house yesterday which was vacated at the weekend by our tenant, only to find that he is still there, furniture and all.

She was not happy and neither are we. Funnily enough just 2 days ago I had sent a letter to our letting agent telling them how wonderful they had been at keeping us informed abut everything and being so organized and efficient. Hmmmm. Let's just hope it's a minor blip and that there is a very plausible explanation.

The other thing to worry about though is the Sterling-Euro exchange rate. Everyday we see our money falling further and further. Sometimes we feel lucky in at least we have some money to exchange and at least we have sold (???) our house and other times we just reach out for the gin. What to do and what not to do? Any clairvoyants are welcome to make contact.

Apart from those SMALL worries, we are still avidly looking at property websites and dreaming about the house we are going to build in Limoux and the gite we are going to rent out and the garden full off fruit trees, orchids, vegetables and chickens. Not sure they will all get along. Because of our dwindling budget, the gite has now shrunk from 4 bedrooms to 2. But that's OK though as I never wanted to wash all those sheets anyway.

We were talking to some Vietnamese friends last weekend about house buying and comparing notes. Imagine that there were no estate agents and that you discovered a house was for sale by gossiping with your neighbours or whilst buying tomatoes in the market. Imagine that you discussed the price round the kitchen table or round the mat on the floor whilst drinking green tea or maybe a whisky if you are a man. Imagine not asking how many thousands it will cost but rather how many Taels of gold (1 Tael equals approx 37.5gm). Then imagine rushing round your family and friends to see who might be able to lend you a tael here or a tael there. Imagine that you are not really buying or bidding on the house but what you are buying is the land the house sits on. Then when it's yours you are going to knock the house down and build a house for yourself even if it looks exactly like what you just bulldozed down. Maybe you will add an extra floor though and have 5 one roomed floors instead of 4.

Since we have been living here in Hanoi (for 7 years with a year break in the middle), we have never known what it is like to not have a building site within 500m of our house. If there is land, it will be built upon. If you buy a house, you knock it down and build another. Basically land here is like gold dust (!) but building labour and materials costs little in comparison.

I wish buying land in France could be that much fun. "Excusez-moi. How many baguettes do you want for this field and yes another glass of wine would be lovely."

So for the moment we are in limbo but hopefully by the time I next put finger to keyboard, I will have lots of good news.

Next time: Did we dare to exchange our Sterling to Euros?….Assuming our house sale went through.