Home Buyers Support Thread Part 3

[juneybean]

Part 2 here -> www.mumsnet.com/Talk/property/a1905904-Buyers-support-thread-part-2?msgid=48420379#48420379

Hope it's okay that I made the next thread :)

Argghh - sellers solicitors havent answered everything and still points outstanding. So exchange is off today and probably off for this week :(

Hoping that it isnt anything serious....

Unfortunately, it is often the case that the enquiries are not answered fully. Clients often write things like "not since we've lived here" or "not to my knowledge" or some otherwise vague answer etc. While in some cases, that might be acceptable, in others it is not and will often result in the solicitors batting backwards and forwards for satisfactory answers. Fingers crossed that it's only something minor!

Gemma - ditto! Turns out our vendors solicitor hasn't answered everything either and our solicitor just spoke to me like I was a piece of dirt. Hopefully they will actually chase it up now ffs

Thanks Spickle

Dotty - hope your solicitor bottoms the enquiries out for you soon. Can't believe we are both still lurking waiting to exchange!

Spoke to our solicitor and EA this evening so we now know what the hold up is. It looks like there is an issue with the building regs for the extension that was done 18 years ago. The council website shows it was approved conditionally but nobody can find anything since then. Our surveyor has looked over the house carefully and is happy it is structurally ok.

The second issue is about a restrictive covenant which is also to do with the extension.... The covenants say the appearance of the house can't be changed but the extension has changed the front look. So our sellers have been asked to pay for an indemnity insurance and at the same time cover the building reg issue too.

Our seller only bought the house two years ago (moving due to divorce and downsizing) so she is checking to see if there is already a policy in l,ace. If not, the EA is pretty sure she'll pay the 200 insurance.

We can then exchange. I do love the new house which is a good job really as I'm never moving again!!

Our buy has fallen through as the vendor is refusing to do anything about the lack of planning or building regs. shame they couldn't tells that at the beginning of Oct when we first asked . oh well Rightmove will become my best find again . Hope our buyers will hold on .

*friend .

Serious fed up now

Was told that everyone in chain was ready to exchange as soon as our seller sorted indemnity insurance. She confirmed her agreement for the insurance today and we all thought we would exchange tomorrow. Now her solicitor has confirmed that there are still a couple of outstanding enquires on her onward purchase (despite originally telling our solicitor that they were ready!). They have said that they should be able to sort them out in the next couple of days.

However we now have another issue... We can't reach agreement on a completion date because of our buyer!

Everyone in the chain (5 of us in total) want Friday 28th November and solicitors are all happy with this date. But our buyer has said she is only prepared to complete on a Monday or Tuesday because she works the other days!

Never mind that the rest of us work too! She is now causing delays for everyone. Plus If we complete on a Friday we have the weekend to get semi sorted, if she insists on a Monday or Tuesday everyone else will have to take more than 1 day off work.

She is risking delaying things until December and some people in the link , including us, wanted the end of the month due to mortgage payments. Obviously the end of December isn't an option due to bank holidays etc so that would push interest January.

All because she is being completely unreasonable. We have already paid out for indemnity insurance on her property because her and her buyer had reached stake mate and we wanted to get things moving. Feels like we are the only ones taking this seriously!

Needless to say she can forget the deep clean and a bottle of wine before we go

Sorry to hear you are all having trouble, we were due to complete on the 28th but now someone up the chain wants to delay a week because their preferred moving company isn't available on the 28th, what a joke. Them delaying will cost us another months rent (it the landlord lets us stay longer)

We are gearing up for exchange on Monday and completion the following Monday on 24th November!

Our seller is signing her contract tomorrow and her solicitor has been bottoming out the last few enquiries for her onward purchase (which is end of chain).

It has been a stressful day though and we are balancing on a knife edge as if we don't exchange on Monday the whole chain will likely fall apar.t. making it three times in a row for us .

The issue has been completion dates as our buyer is stubornly refusing to complete on any day except a Monday or Tuesday because of work. Thankfully our sellers and her sellers have agreed to Monday 24th.
However, the bottom of the chain must complete by 1st December due to his mortgage and also needs 1 week between exchange and completion. Because of our buyer, completion after Tuesday 25th isnt possible so if we dont exchange on Monday the bottom of the chain will not have the notice they need and they apparently can't delay to the following week.

Scared to pack this weekend in case we jinx everything but if we do only have 1 week until completion we are going to need to at least make a start this weekend. Will just have to pack stuff that is easy to unpack and put away again!

So this weekend will be spent praying to the property gods asking that they be on our side this time.

You're having such a stressful time, Gema, fingers crossed this time it will actually happen.
Our survey is being done tomorrow, should hear report from that the following week. Been visiting schools in preparation for making applications - so difficult to juggle all that as well. I suppose I should really start to get quotes from removal firms, we're not aiming to move until January, hopefully will be quite a quiet time for it.

ARGH Gemma so near yet so far! Will keep everything crossed for you!
Our solicitor has now said there's one more thing to sign but it hasn't arrived yet (of course!) and there's some document or other which they haven't yet found, so it's a waiting game. No exchange tomorrow then as we'd been led to believe could happen. Sigh.

Thanks dotty! Likewise, keeping everything crossed that your exchange is just around the corner!

Hello can I join in here?

We viewed a property on 13th last month and made the offer 2 days later - and it was accepted. Vendor who apparently wasn't looking to move any time soon has now found a house and had her offer accepted. Now we are waiting for endless vendors to sort their shit out.

We are at the front of the chain as we have sold our house to a family member so deposit for house (30%) is sitting waiting, mortgage agreed and searches done.

How do you cope with the waiting and uncertainty of it all :(

Hi onlywantsone* - the only way I have got through the past 10 months has been with plenty of wine!! Hopefully your move will be much less stressful, especially as your sale sounds like it is straight forward.

Just checked in with our EA and solicitor and apparently the last few outstanding enquiries with the last property in our chain have been sorted with a small indemnity. Our seller is signing her contract today at 4pm.

Everything is geared up for exchange on Monday with completion the following Monday. BUT our solicitor is pushing for exchange today - if the rest of the chain can get through the exchange process by 4pm it might be possible for the last link to exchange before close of play today.

Personally I think this is very unlikely but it will be good to have a trial run to flag up any issues before Monday so that they can be sorted out if necessary.

Our chain broke twice this year, both at the point of exchange, so feeling very nervous but a bit more hopefull than I was last time

Thank you Gemma. Hope it happened today for you?

Had a chat with EA. turns out our vendor's vendor have said they don't want to hold up the chain so will go to rental.

That means it's us, and our vendor... that's it! That's a short chain isn't it!

Waiting to hear back from L&C about mortgage and quite stressed about that. I though as we had an offer in principle that would mean it would be a firm offer once we had produced the documents they want. Phoned L&C and turns out won't know til end of next week -but at least the mortgage company have already had the survey done and we received a copy last week.

EA said searches can take a month, but I thought we already had them done!

So we finally have some good news after 12.5 weeks...our vendor is willing to complete by 1 December, even if the property they're buying falls through! They've finally agreed that they will stay with family to accommodate this should something happen! We haven't exchanged yet so my solicitors better get moving.

I do wonder what's changed their mind as they were adamant they wouldn't move anywhere temporary before. I hope the boiler hasn't suddenly packed up and they don't want to pay to get it fixed...

Omfg, sol was meant to send the final papers to sign on Wed but of course they haven't arrived. Dh is going away for work on Monday and won't be back until Sat night so that's another fecking week gone. I'm furious.

Couldn't bloody exchange on Friday as bottom of the chain couldn't be contacted to give permission to transfer funds! He is the one who must be before December!

So now we are trying again on Monday.

At least everyone in the chain has agreed on the 24th as a completion date.

Pleeeeeeassasssssseee let us finally exchange on Monday

we've viewed 7 houses over the last day and a half, and are going back to one today. hopefully if offers are accepted, and as there is no upward chain, we could be back on track with our move. also grateful that our buyers are being patient. Needless to say there is not an extension in sight this time!

Marymoocow that's some serious house hunting! At least your buyers can see that you are doing everything you possibly can to get things moving again. I hope you have an offer accepted soon

Our solicitor called this morning and explained the problem with exchange on Friday was because the bottom of the chain's solicitors had returned his deposit because we were not ready to exchange the week before. He therefore needs to transfer it back to his solicitor again!

They are trying for exchange again today but she didnt sound too hopeful - I suppose it depends on how long it takes for the deposit to be transfered back to his solicitors?

He is the person demanding to complete before December yet he must have a week between exchange and completion as a term of his mortgage. Our buyer is insiting she can only complete on a Monday or Tuesday. So if we havent exchanged by tomorrow looks like our chain breaks again

I'm sharing all your pain....supposed to exchange today but buyer at bottom of chain still sorting out freeholder issues and their estate agent has gone AWOL. Am feeling exchange before Xmas and completion in January might be less stressful.

Gemma, funds should be transferred by CHAPS I would think, which is immediate. Fingers crossed they all pull their fingers out.
We had our survey done Friday but no report back yet. Feeling very anxious about the new house though. Bit worried about not being able to sell it on in the future. That could be because we're struggling to sell our fairly big-standard house currently and the new one is a bit of an unusual setup. Oh and we'll have a mega-mortgage.
Feeling like we need another viewing to remind ourselves why we loved it.

Afternoon everyone
(And !) for you all.

Can I join please?

We are in the process of moving. It was all going swimmingly. We had a house we were buying..
The day before exchange the agent phones and says vendor wants more money (we were under offer at the asking price ).

So it turns out that the shark-like agents had continued to market the property whiles we were under offer.

And let be clear, we were rushing around getting done ASAP. In fact there was only 3 weeks between going under offer to exchange which is pretty much as fast as it can go.

So we couldn't match the extra £100k the shark agent had squeezed out of the "cash buyer".

So that was £5,000 in legal fees, survey fees, valuation fees and financial advisor fee. Thanks a lot! I do hope their cash buyer chips at the price (evil).

Back to drawing board......

Not one to give up, we found something else in less than a week and have submitted "best final offer" today.

So please cross everything for me!! I really do want to buy this house. Actually prefer it to the other one.

The whole thing has been a pain. I normally keep a cool head when it comes to house buying and don't count my chickens etc. but to wait till day of exchange to ask for more cash (and £100k at that) and to keep marketing the property while I throwing money at it to get the house bought quickly as per their request!?! Seriously

I am working my way through the thread. I see that I am not alone with tales of house buying woes.....

MrsFlorrick - that's outrageous! We've had it easy in comparison.
It's been said before but there needs to be a change to the system to lock people in earlier and prevent shark-ish EAs/sellers/buyers taking advantage.

Millionprammiles (fab name )

Yes pretty outrageous. Hope it comes back to bite them all in the bum (bitter).

I note there is another MrsF on this thread (waves). Great name.