Would anyone like an 'in a chain' support group? (3)

[Spickle]

Assuming all you lovely people in a chain still need a support group? Here it is......

Well done goodwife

This emotional roller coaster is going to do me in!

Had a call from EA- our buyer has found a new buyer! Cash buyer who is using the same solicitor as the previous one so all the paperwork and searches are already in the office!!!
Makes the chain really short too. Cash buyer with all paperwork sorted just needs transferring over- our buyer who has signed and is ready to exchange- us. We are still waiting on the extra info from the land search though.
Everyone just keep everything crossed that this goes through please- and quickly so I get out of this stressful situation!
I'm trying really hard not to get excited as I know how easily it can go wrong again but I can't help the feeling of relief.

Fingers crossed for you lamcheeseman

cheeseman that sounds like an ideal resolution to the whole situation. Keeping everything crossed for you that it all falls into place quickly.

I've been expecting bad news all the way through our journey and, now that it's almost over, I just feel numb, nauseous and exhausted!

Best of luck 😊

Hi Honey, good news to Doris!

The good news at this end is that the ftbs aren't incommunicado because they are having a wobbly on the eve of exchange. The bad news is they have gone on holiday, without returning their signed contract to their solicitor. So now we can't exchange until they get back. That means I can't bid on any houses I am interested in (moved to Scotland) and the one I really liked has just gone under offer. Waah.

On the plus side, at lease they didn't go quiet because they were pulling out!

The perils joys of selling to FTBs ocelot - their innocence and naivety can cause delays, frustration and disaster without them having any idea what they've inadvertently caused!

Any idea when they're back from holiday?

Our buyer was away last week (she's not a FTB, just a dizzy, happy in her own world 40 something) and the whole chain was waiting for her to approve the indemnity we'd purchased and authorise exchange.

She was busy getting engaged, sunning herself and sipping cocktails before returning to the UK to find voicemails, emails and letters marked urgent.

We thought she'd decided to pull out

Monday Goodwife, and thanks for making me laugh! Yes, I thought they might be pulling out too...

Argh, I'm so frustrated for you ocelot!

Thank you Doris. Everyone's support here is really getting me through!

I am starting to wonder if the EA is bullshitting. The ftbs would have had a chat with their solicitor on Mon, who laid out the answers to their additional queries. Surely the solicitor would have made it clear during that chat that she needed the signed contract back asap to move towards exchange? Why would they then go on holiday without giving it to her? Beginning to think they may be just having a wobble and the EA is covering for them. Or am I paranoid???

Ocelot it's just so bloody frustrating isn't it? As a buyer and seller I've been so on the ball with signing and returning documents you just wonder why everyone isn't the same.

I'm at the end of the road with my buyers, they've mucked me around for 4 months now. Heard from my ea yesterday that their mortgage application has come in lower than they need so they'll be applying to a different lender. This would be the 3rd application/survey, I am not willing to wait another 7 weeks (the time it took for the most recent application decision) so instructing ea to put my house back on the market today.

I could cry, really cry! Ive separated from h this is the family home and I just need it over now....!

Ocelot tbh I find it odd too as why would anyone keen to buy a house just go on holiday and leave an unsigned contract outstanding? Doesn't make any sense. Maybe their solicitor didn't get it to them on time though, who knows!

Hi! Can I join? We sold our house at the beginning of last month th to a couple that are a few hundred miles away who plan to rent it out. They have no chain, and we have offered on house who also have no chain. We are near exchange of contracts on selling and had an email from our solicitor to say "they recieved by post some preliminary enquiries and will contact us if they need more information"
Can someone please help me to not freak out and explain what that sentence means pleeeeeease? I'm driving everybody barmy telling them they are gunna back out etc!!

Beckyb1 let me reassure you that your solicitor receiving preliminary enquiries from the buyer's solicitor is absolutely normal in conveyancing. The buyer's solicitor has been reading through all the information supplied in the draft contract pack. They may have queries over the title, whether any covenants have been breached, rights of way, as well as querying some of the responses found in the Fixtures & Fittings form and Property Information Form or whether there are any certificates and guarantees available for works done at the property.

However, this also tells me that you are not near exchange of contracts. This is barely off the starting blocks.

Hope that helps?!

Well vendor has thrown us a curve ball. They are going into rented so all fine except they've just reserved a new build plot off plan (not built so still going into rented) and builder requires 28day exchange or they'll lose the reserved plot. Any chance we can exchange by 7 July?
Mortgage will be in place within a fortnight (apparently) but can solicitors actually move that fast? They're happy to delay the completion by a couple of weeks.

mother I wouldn't have a clue. Our paperwork has been going on for 3 months (survey and mortgage were the easy bit) but some houses seem to go through much quicker. Do you know what the delay on searches etc is like in your area?

Spickle Sorry to bug you- can you help me out? If a buyer is ready to exchange and pulls out (like our buyer's buyer did) and the new buyer they find is using the same solicitors as the previous one, how quickly can things be ready for exchange again? I assume this means all the paperwork etc is already in the building and just needs a name changing so a few hours? But I think I may be being naive.

I have got to exchange in 28 days with chainfree buyers before - current chain is up to 3 and a half months, four and a half if I count from when the first lot of buyers' buyers dropped out

Thank you so much spickle. I was told it would be a quick sale, 4 weeks on and your the only one to help me out! Thank you! How long roughly would it be? Apparently searches have been requested and should be back in a few weeks...??

We had our offer accepted in March 2016 and we've moved in last Friday. The chain collapsed twice and it has been a nightmare!!!

mother - our exchange deadline was 6 weeks after reservation and we had to have it extended twice, so exchanged contracts in our chain of 5 (buyer, buyers, buyer, us, builder) within 10 weeks.

28 days is a very tall order! Especially if searches bring with them any queries, etc. You'd need super efficient conveyancing throughout the chain.

Best of luck!

becky I'm only talking from personal experience but I think it really depends on what the searches say- what possible further searches need doing because of them and what further info is needed to answer the queries they raise. It might be that's all fine so it all gets signed off or it may be like ours that extra information is then needed which takes ages to come back again. Without knowing what the searches will say and what queries will be raised it would be anyone's guess as to how long it will be.

Thanks Iam. I think I'm a bit naive in all this. It took so long to get to this stage and I'm just hoping things move before school holidays starts my middle son is already struggling (he's autistic) and as it's the first house we've sold I don't really have any idea. Sorry to keep on and ask silly questions.
I hope your enquiries have been sorted Iam?

If they want that kind of deadline m0ther then they should offer to pay for private searches for you. They are through in 24-48 hours, which gives you enough time to raise additional queries

Ah, Ocelot, you must be pulling your hair out!

I agree with the above mother - it should be possible, but will require extra costs for private searches, solicitors prioritising etc. Good luck.

I haven't updated for a while because we hoped everything was going well. Our solicitor rushed our contracts out before we went on holiday, the week before half terms. They arrived at 1pm the day before we left. Our EA came straight out and counter- signed the contracts. We put it back in the post at 4.30pm. We found out while we were away that our solicitor was still awaiting something. We chased it and it turned out to be our solicitors fault. Got that sorted while on holiday. Then our ftb didn't have their deposit in the right bank account. We came back off of holiday last weekend and we're assured we'd exchange Tuesday. The developer seeking our vendors new build then proposed a completion date. We all agreed. Our solicitor started the ball for exchange yesterday but the developer didn't respond. Today we find out that the developer hasn't sorted the new home warranty, so we can't exchange and the completion date they suggested is now unlikely. I am absolutely furious and getting distraught. We need to apply for a new school place for our son, but can't do that until exchange. We now don't expect to exchange until the week after next! Meanwhile, we have a mover booked for the date we had agreed, because of the 12 I rang, only two could do it, and do we thought we needed to jump in. Aaaargh!

Sorry to rant!

Hugs to Equimum, this really is the most insane system isn't it?

Thanks Ocelot, it most certainly is!