Buyers support thread - stressed? Worried? Stuck in a chain? Gazumped? Well come and join us here

[Bakingnovice]

I can't see if there is already a thread like this so here goes..

We finally upped our offer enough for it to be accepted on our dream house. It's been stressful so far and this is just the beginning. We have had so many let downs: vendor changing mind, vendor getting higher offer etc and we hope this sale goes through smoothly. We've been looking for years. Come and join me if you're buying and equally stressed....

Eek they have asked for best and final offers tomorrow..

For some reason also the sellers have it in their heads that they want to move in October - told the EA that we would be prepared to push it as fast as we could but that subject to the normal survey process and needing to get the mortgage in place. I am assuming that October would be a bit optimistic for anyone!

Yes I think we will. We have offered under the asking price but does this mean that the other party are probably round the same price or are the EA trying to play us to increase our offer?

The impression I get is that we are in the stronger position chain wise and they want to moveasap.

I think we know the max we want to pay which is a £7k uplift on what we offered so not a huge amount in the scale of things but still reluctant to pay it as I will be giving up work next year and that would be £7k of things we could do to the house on a tight budget.

Good luck - best and final is awful isn't it...

We would be gutted because houses rarely come up around the area so even though it is a compromise house, it's a dream location, a big enough house and something we can make our own.

However we have talked and are just going up a couple of k and if we don't get it then it just wasn't meant to be!

We will see if I still feel this philosophical tomorrow..

Good luck 5am

Does anyone know anything about indemnity insurance? Our vendors can't provide evidence of planning for part of an extension (they can provide it for most of it), so have offered to buy indemnity insurance for the part without proof.

It's well over 12 months old, so I'm not too worried about council intervention, but I'm worried about insuring the house and any issues that arise not being covered? is there anything else I should be worried about? Eek.

My solicitors also wanted insolvency indemnity insurance too (for bankruptcy) as well as income protection - I think solicitors are a bit trigger-happy with insurances (commision) so perhaps get an independent opinion. Does your homebuyer survey mention it?

Indemnity insurance here too for some really old renovations.

Can everyone please send me good vibes? Contracts all signed, deposit ready and hoping to exchange in 8 days. Solicitor is still 'checking the file' whatever the hell that means.

50 I hope you get the house. We went over budget for ours and are happy we did.

Well I've shown around the first estate agent, who gave a tentative valuation that (pleasantly) suprised me.

But he did say we'd need to declutter.

Next agent due any minute.

Best of luck Baking. Fingers crossed for you here.

I wonder how much longer I'll be lurking on this thread with nothing much to add....

Argh philosophical gone out of the window.

So we kept out offer lowish but still reasonable as it had been inferred that the main priority of the sellers was the ability to move quickly.

Anyway they have now been in contact on the house they want to offer on and it seems like they either have to be able to complete faster than a competing offer or they won't have their offer accepted.

They are now asking if we and our buyer will be looking to do surveys etc (hell yes - how many people can buy mortgage free at London prices?) and they will come back tomorrow with a decision. However if their offer doesn't get accepted then they won't have to move quickly and I suspect the other party we are in a bidding war with has offered higher.

I hate this process and have spent half the day thinking how nice Christmas would be. The toddler has been a nightmare, I am in the middle of bad morning sickness and the kitchen door has broken, I can't open it to get upstairs or go to the loo and DH has an important meeting that he can't leave apparently and the screws in the handle to release the door are on the other side.

Summary = not happy

Fingers crossed for you Baking. 5am - what a difficult situation you're in. Sounds like a huge pain. Hope it all works out eventually.

My conveyancers finally have everything they need, and mortgage valuation surveyor visited today. Hopefully not long till the mortgage offer and then we can start talking about dates... I'm still hoping to get in by the first oct and avoid the temporary accommodation/storage hassle. Nothing ti do but wait and see now.

Fx Baking!

I've sent a message to my sol asking what the indemnity will actually do, not expecting too much in return. I might ask a family friend who works in planning and see what he says.

Bog - well done on selling despite the puppy wee . Hope they sort out the water in the new place soon.

That's rubbish 5am but sounds like its out of your hands , don't be rushed through the process by them, by all means move fast , but of course you need survey. I hope it works out well.

5am that's rubbish but definitely get a survey. Its a no brainer.

So we are in the middle of filling in all the forms for our mortgages and solicitors making my head spin. Both mortgages have been agreed and waiting for the valuations on our new place and our current flat for the btl.

Our vendor seems quite happy with the progress and hopefully barring any major upsets completing with 6-8 weeks.

My issues are at the moment is finding child are for my son as we are moving to a different area and also whento give notice to current nursery. Especially as he loves it so much.

Plus there is wry little annual leave in my workplace for the 2nd and 3rd weeks of November so that could be fun.

Hope everyone gets the answers they need.