Would anyone like an 'in a chain' support group? (2)

[AnnaELC]

Seems we reached 1000 messages so I've started a new one!

I've bought three properties and always had to find the deposit as cash before the completion date. Plus in my current purchase my solicitor has asked where I will be funding it from and for evidence that I have it (though slightly different in this current one as I am not selling anything, nor was I the first time, but the last one I definitely was!).

zelda but I think completion can be dependent on the solicitor confirming all fees are paid, so check that if you're in a hurry to complete!

Thanks! I thought it was a case of the first 10% deposit passing up the chain (in increasing amounts) but think I'll need to check this with the conveyancing solicitor. Surely you don't need to find a 10% cash deposit every time you move? I hope not!

MrsPatmore - no you don't! Even if you have the 10% deposit, guaranteed there will be someone in the chain that doesn't! Obviously the first person in the chain (FTB) does have to have a deposit as would someone with nothing to sell. May be different in Scotland of course.

Our buyer's valuation survey booked for this coming Tuesday. Progress being made!

No progress from anyone reported this week. Waah.

I wanna say something motivational like "another week closer" but I feel like it's not another week closer.

I guess it's good that our buyer hasn't changed their minds and that "all" we're waiting for is 1 local search & leasehold enquiries which should be done by the 18th.

Trying to stay optimistic but it's much easier said than done! Especially with our experience.

I hear you camper. Hand hold.

No reply this week from second vendor on my full asking price offer. I had to tell the EA to correct the info they gave them on my 'status'.

So not withdrawn first offer, but no word from them either.

And no info from ex on what's going on with him though I read a letter from his solicitor from mid March saying the mortgage was sorted (though they need a building regulations document from some electrical work done last year, he won't know where it is and he hasn't asked me).

I hope things get a move on (excuse the pun!) for youboth next week. You both see to have been getting stuck for ages!

I hope the valuation goes well joy

Please don't lynch me, but we seem to have had >whispers< quite a progressive week. We have paid for our searches on the property we are buying, and have received the legal pack from our vendors solicitors. Today, we have received the queries raised by our buyers' conveyer. Now to order Fensa certificate (for windows that the people we bought the house off of had installed). Hoping surveys etc will commence soon....we had expected them last week but no word as yet.

Evening all

Slight radio silence at our end. Solicitors finally received draft contact pack week last Friday and hoping at some point this week we can see it!
Still waiting to hear from our buyer (housing association) that they are happy and all queries have been answered. Our solicitors have been chasing but every time they contact the person in charge of our file is out of the office.
We are hoping to exchange and complete beginning of May

I'm not expecting any updates this week :(

for you camper

We are now trying to agree a completion date

Heading down the roller coaster again. Cried today. Valuation survey cancelled because lender does not have enough information on the buyer's deposit. Should be sorted by end of week.

Trevor exciting!! I reckon as soon as we're ready to exchange and complete our buyer will be hard to pin down and change their minds / argue the dates.

joy oh gosh that sounds worrying :( we've been there!

Yesterday we our solicitors received the mortgage offer. Searches are all done. They have our signed contract and transfer. Does anyone know what happens next?

Oh no joy how rubbish.

Thanks campervanlady. All the actual property owners have agreed a completion date we just need to get the solicitors to formalise it.. I am worrying about our buyer's solicitor who is utterly shit.
Our buyer is absolutely raging about them - the EA recommended them on the basis of fat referral fee efficiency because they have a good working relationship.
I'm so glad we used a conveyancing firm as they seem very focussed and responsive.

beautician I am not sure - that sounds like everything you need to agree a date (???)

So, my second vendor wants to accept my offer but the place they wanted to buy has fallen through, so they are looking again and don't know (obviously) when they might be moving.
I've not withdrawn my first offer but have heard not heard anything from them at all for two weeks (now 8 weeks since the offer).
I far prefer the second house.

My problems are:

1. uncertainty in terms of any move dates
2. when they find a house could be an annoying complex chain
3. my mortgage expires May and as I am in a fixed term contract that might mean they cannot extend the mortgage as it gets nearer to my end date.

Sigh. No idea what to do.

It's hard isn't it. I feel down and depressed (literally, I now have ADs) about the moving process. It's gotten a bit too much now.

Trevor those solicitors sound like a heap of shit. Our buyers solicitors are pretty awful too and we told some (well, all) of our friends and they've actually lost business as a result. They are a local firm splashed all over the radio and the local papers.

Ok, at the risk of revealing myself as an utter Muppet..

When do you take insurance out on the new house? I have a feeling it should be after exchange, because at that point you have put your deposit down and you are invested in the house. But then, can you even get insurance on a house you don't own?

I get the feeling I should know things like this. I can't even remember what we did ten years ago when we moved last, I'm pretty sure I didn't worry about this stuff in my twenties

upper We were told it's on the day of exchange. Not 100% on that though

We are due to complete today after a long process - the offer was put in at the beginning of January and accepted two days later. Feels a bit surreal, we've had to threaten to back out to get this date, and we've had dates set three times that have been pushed back.. Hoping today goes ok!

Good luck y0rk it's a horrible process.

Just had a wee panic about timescales. Just emailed my solicitor for more info as our buyer is buying our previous buyers searches but I reckon they'll run out of date before completion as the sale has dragged on for so long! I would have thought our buyers solicitors would have mentioned it but they are truly shit and would probably wait until day of exchange to tell us all searches need renewing instead of just the local search (which we're waiting for)

It's not my job to work this stuff out. It's their job.

You'll need buildings insurance in place on the day you exchange, unless you're in Scotland in which case it's on the entry date (completion).

Ok, that makes sense. How does that work in practice though with ever changing exchange dates? Can you get it organised earlier and be done with it?