Buyer's support thread #5

[scribblegirl]

Sorry for breaking the last one

and for all....

I've put it back on the market but can't see that many people are going to be looking right now :( The house I was buying are considering their position over the weekend and will probably put it back on the market on monday :(

Anybody had a change of heart about buying? My mortgage broker is starting to make concerned noises about mortgages. We are slowing the legal process down in the hope we see some sort of indication of what's likely to happen in the short term. Our deposit is someone else's money.

Snail, so sorry that you have lost your buyer, I hope everything works out for you going forward.

Kirinm, we exchanged on our sale on Thursday, thank god. However, we are meant to be buying a new build from a large developer and they have messed us around for the last 2.5 weeks threatening to withdraw the purchase contracts as our chain of 5 couldn't complete for the end of July but would agree completion early August. They were prepared to lose a sale for the sake of 9 days! Strangely enough on Friday morning they were suddenly willing to agree to August, funny that. We have taken the weekend to think about our position and have decided to withdraw from the purchase as the house is expensive and we would be trebling our current mortgage which given brexit doesn't feel sensible, especially as DH's job is reliant on EU markets. Loved the house but we are now on the hunt for a more modest home or we will move into rented and see what happens. The irony for us is that if the builder hadn't messed us around we would have exchanged on our purchase by now! I really feel for everyone buying and selling right now, difficult and confusing times.

Argh Oaks. Poor you. It is a very tough decision to make. I'm going from thinking its a very bad idea to buy now to bring gutted to think we won't buy and will have to put life plans on hold again.

I'm wondering if we might see our vendor suddenly pushing for a quick exchange.

Hello can I rejoin you all?!
We had agreed a sale of ours back in feb but we couldn't find something quickly enough and lost our buyers.
We've had everything sorted this time we are buying a new build off plan - our first time buyers were willing to meet our time scale but now they have told their mortgage advisor to hold off putting their application in so I'm guessing they are pulling out- I'm gutted need to apply for school place for dd and now likely we won't be moving at all.
Had months of hard work, viewings, clearing house while looking after toddler and newborn desperately trying to get into a good school catchment and now its probably not going to happen :( :(

Had a phone call from sol this morning - meant to be exchanging today for completion 1st July.. Hope it happens!

Poor everyone (apart from need - go need). Brexit has caused a great deal of uncertainty and I can understand some of you thinking twice.

We're buying with 70% mortgage and a "forever home" so, even with some uncertainty around my job, we're definitely going ahead.

After 3 weeks of waiting for the lawyers to agree that the (clearly existing) access rights existed we finally paid our deposit over today and are set to exchange once we can agree a date with vendors. Hoo-bloody-ray. Looks like we'll (just) be out before our tenancy is up.

Felt confident enough to get some provisional removers quotes. Just want final nod so I can really start doing stuff.

God this is so nerve wracking!!

We are meant to be completing tomorrow, but the sellers solicitors still won't exchange and keep making stupid excuses.

God Skittless hope you get some good news today.
I managed to have a full blown argument with my agent before I'd had breakfast this morning but think I've got to the bottom of the lies now so I'm hoping that once our buyers see that house prices aren't changing quickly they'll go through with purchase.

so I'm hoping that once our buyers see that house prices aren't changing quickly they'll go through with purchase

Yeah prices won't change overnight - markets aren't rational. Sellers have to be willing to accept lower prices, so generally deal flow dries up and only people who HAVE to sell, or who can afford to sell lower (e.g. large equity slice, bought ages ago).

to everyone stressed out and waiting - all of us then

Our vendor's solicitors have already responded to almost all the queries, which is great. A few have had to go to the vendor for clarification. No word on the indemnity insurance yet tho

Finally exchanged last night with a view to completing on Friday :)
Seems more real now - can look at paint colours realistically now and feel more excited!
Ive put Brexit at the back of my mind as I still need to house myself whatever happens..

I think the stress is nearly over for us! (Or just beginning!). Spoke to sol this morning and she said we're exchanging today, just waiting on call to say it's done. Complete on 15th. I might have some anyway if you don't mind. Feel like I deserve it.

Now trying to extract quotes from removal companies.

For anyone keeping score: we did 9.5 weeks from offer to exchange and it'll be 12 weeks to completion.

Urgh. As soon as I typed that I got an email to say top of chain (above our vendor) is away and can't sign contract until the 9th July.

Clearly not exchanging today.

What do I do about movers. Book them anyway? Can't wait until 6 days before.

I'll have that Now.

Its taken 16 weeks from offer to exchange - my longest ever.
I'd ring removal companies and pencil in, they must get it all the time people changing dates.

Is exchanging and completing often as quick as a week apart?

Sometimes exchange/completion is done on the same day, depends on what everyone in the chain agrees on.

I thought 2-3 weeks was normal. But there have been some pretty tight turnarounds on this thread.

It transpires that even though the top of the chain (selling to our vendors) has been ready for weeks (or so everyone was told), they have gone on holiday until 9th without signing contracts. Even though they wanted to complete on 15th. EA and solicitor can't believe it and are trying to get contract signed by their sol as proxy.

I've got to plough ahead booking move things in anyway but if there's any delay introduced by the top in the intervening period I'm going to have to arrange temporary accom for me, DP and the DCs (2 and 6mo) at v short notice.

I've gone from being on the point of celebration this morning when the sol said she was just going to do the exchange and call me right back to being really stressed again.

we have EXCHANGED!!

Complete tomorrow. It's taken 16 weeks for us (FTB) to buy a house off someone buying a house with no onward chain.

Can't believe I'll be a homeowner tomorrow. Feel so grown up regardless of the fact I'm married, in my 30s with 2 small kids and a responsible job, haha

Good luck to all I never want to go through this again.

Oh well done skittlesss (heartfelt congrats with a side portion of ).

I seriously hope this is the first and last time I buy a house.

DP appalled by removers fees and wants to do it ourselves. I have said NEVER AGAIN. Totally overruling on this one - chucking every last penny at it.

Haha yes when we have done the house up we are paying men to move us in. We have rented up til now and have done it ourselves but it's just too hard!

YEAH SKITTLESSS!

Hey hey

Just waiting for "The Call". DH is away with work at the mo so I will be the first in. Hahaha.

Hooooray for the exchange

Completed a couple of hours ago. Just waiting for the sellers to get out of MY HOUSE. Haha. They said they'll be a few hours as no keys for theirs yet.