Talk

Advanced search

Buyers/ sellers roll call - are we on number 10 now?!

(787 Posts)
kerrymucklowe2020 Fri 04-Sep-20 18:04:27

Hope this is the final one for us!

OP’s posts: |
Jujuball Fri 04-Sep-20 18:23:36

Hello! Checking in to the new thread smile

Our viewer from the other night really likes the house... but her sale has just fallen through!! sad you really couldn't write it!

Hope everybody else is having better luck and a productive Friday smile

ChristmasTree999 Fri 04-Sep-20 18:33:15

Please god let this be the final thread for me. Well it will be, because either I will have moved or I will have lost the will.

Estate just called - can the buyer come and measure up tomorrow “because we are getting close”? Ffs, the place is a half-packed shit-tip 😫

daisymill Fri 04-Sep-20 18:36:59

Checking in - I hope this is my last one smile

Baxdream Fri 04-Sep-20 18:41:36

I wonder if I'll be done in this thread? 6 weeks in for us. We're currently hoping to move on 9/10 but anything could happen!

shiveringwiggles Fri 04-Sep-20 18:58:41

Checking in. We're coming up to week 7, so hopefully this'll be my last thread grin

Wherewhatwhy Fri 04-Sep-20 19:03:11

Also checking in. Six weeks since chain formed but I fully expect to either still be on the next thread or the whole thing to have collapsed.

notheragain4 Fri 04-Sep-20 19:08:46

Checking in, completion date set for 25/9 so should be our last one otherwise something has gone very wrong!

Lurchermom Fri 04-Sep-20 19:20:32

Checking in. Had a huge influx of paperwork today and feel like brain is about to pop.
Has anyone successfully negotiated a lower deposit on exchange day? We've literally just been told about the 10% of house purchase price we need to put down on exchange day and we have no idea where to get the money from. Our house buyers should stump up about 6.9% of it but it leaves about 12k shortfall. We don't have any cash really all our equity is in the house.
Our IFA (who we called in a panic) said to speak to solicitors and see if they can negotiate a lower % on exchange day but I don't know how common that is?
We have no memory of this from last time but as we were FTB we were just handing money (all cash deposit) to whoever told us to!

notheragain4 Fri 04-Sep-20 19:33:30

@Lurchermom I would speak to your solicitor, I'm sure it can be negotiated as plenty of people purchase with 5% deposits (or at least they did before this year) we exchanged with only 5% last time and it wasn't mentioned at all.

Actually come to think of it we have given less than 5% on exchange this time as my solicitor only passed on 10% of our buyer's deposit and that isn't quite 5% of ours, so it's all negotiable.

notheragain4 Fri 04-Sep-20 19:34:06

(But we are liable for 10% if it falls through at our fault)

Lurchermom Fri 04-Sep-20 19:47:02

notheragain4

*@Lurchermom* I would speak to your solicitor, I'm sure it can be negotiated as plenty of people purchase with 5% deposits (or at least they did before this year) we exchanged with only 5% last time and it wasn't mentioned at all.

Actually come to think of it we have given less than 5% on exchange this time as my solicitor only passed on 10% of our buyer's deposit and that isn't quite 5% of ours, so it's all negotiable.

Phew that's good to know, we will get in touch with them on Monday to see if it can be negotiated. We reckon we can come up with 8% if we need to.

Jujuball Fri 04-Sep-20 20:31:09

Hi @Lurchermom, I'm a conveyancing solicitor - negotiating a lower deposit due to funds moving up a chain is very common, don't panic smile in reality most sellers would rather just get on with exchange so accept it for the security exchange gives, since the alternative is simultaneous exchange and completion which can be stressful!

You are still liable for the 10% if it all goes pear shaped and you breach the contract though.

Maybenexttime08 Fri 04-Sep-20 20:38:17

@notheragain4 We have the same completion date.. though ours is not quite confirmed - fx'd we will know next week.

Lurchermom Fri 04-Sep-20 20:59:44

Jujuball

Hi *@Lurchermom*, I'm a conveyancing solicitor - negotiating a lower deposit due to funds moving up a chain is very common, don't panic smile in reality most sellers would rather just get on with exchange so accept it for the security exchange gives, since the alternative is simultaneous exchange and completion which can be stressful!

You are still liable for the 10% if it all goes pear shaped and you breach the contract though.

Thank you so much.

Anyoneoutthere123 Fri 04-Sep-20 20:59:49

Just checking in, hopefully should be my last one. We've agreed on a week to complete and need to exchange next week in order for this to happen. Just waiting on mortgage agreement to come through where we had to increase our purchase price. Hoping it doesn't take too long.

Notyetthere Fri 04-Sep-20 21:03:09

Checking in. This is week 8 since we completed the chain.

notheragain4 Fri 04-Sep-20 21:03:19

@Maybenexttime08 fingers crossed for us! I'm starting to buy lots!

Kelsoooo Fri 04-Sep-20 21:19:38

Miserably checking in.

Looks like our solicitor is giong to cancel the fund transfer request.

No idea what is occuring now.

ibuiltahomeforyou Fri 04-Sep-20 21:30:31

Just checking in.

Our (second) buyer is instructing his solicitor. Our vendor is on board with us. We are a week in. It feels a bit stressful to be back at the start again.

Our vendor had someone offer on the property they want to purchase today. I tried to reassure the estate agent that has buyer was serious.

kerrymucklowe2020 Fri 04-Sep-20 21:30:35

@Kelsoooo oh god no! - why?

OP’s posts: |
jelly79 Fri 04-Sep-20 21:43:53

@notheragain4 oooh thanks! It's my buyers that are away (my purchase is empty) but my buyers are FTB and living with parents so I was worried they would want to wait till they got hone but they have agreed.

I am still hoping for a Thursday / Friday completion next week however we haven't exchanged yet. Still waiting on one legality back! If this comes back Monday how quickly can we exchange? The not knowing / being able to plan is driving me mad. Solicitors still not said it won't / will happen

JustFrustrated Fri 04-Sep-20 21:53:56

@kerrymucklowe2020

Yesterday we were told we were completing on 10/09
Today we received a message from Nationwide advising us the funds had been requested and would be with the solicitor for 09/09

Today our vendors solicitor has e-mailed him to say

"Currently waiting for XXX to confirm they can complete on 10/09
I have spoken to their solicitor today (fucking purple bricks) who have had advised they have some outstanding queries on the sellers related purchase and cannot agree the date at the moment.
The sellers have also advised they cannot break the chain and move out of xxx before the purchase is ready"

(they always said that they would move out if they couldnt complete when needed)

Our direct vendor is still somehow blaming us?!

kerrymucklowe2020 Fri 04-Sep-20 22:06:35

@JustFrustrated- how can your vendor blame you exactly?!

Why have your sellers changed their minds about moving out if they couldn't complete?

What is all this madness?

OP’s posts: |
kerrymucklowe2020 Fri 04-Sep-20 22:08:05

Sorry that was aimed at helping you vent your frustration . Reading it back looks like I'm venting at you ( as if I would - as if you don't have enough stress ATM! )

Here - wine

OP’s posts: |

Join the discussion

To comment on this thread you need to create a Mumsnet account.

Join Mumsnet

Already have a Mumsnet account? Log in