In a chain support thread Sept 2017

[Gizlotsmum]

Hope it's ok to start another one! So we have a week of waiting for surveys etc...

Arrrrggghh

We were due to exchange today but my buyer isn't happy with completing next week...he wanted this week! That ship has sailed so I have no idea what he's expecting as 19/20th is the most realistic for everybody.

I am having wine and trying not to get too worked up.

Oh no dragon.

Dragon what does he think is going to happen? That you'll all complete on Friday with only 24 hours notice?! Great if you can do it but doesn't he need to arrange removals etc?

I thought we'd left the really awful stressy parts behind, but it's becoming apparent that no, it's a stress-fess right the way up to the last moment

Yoga FX for your feedback

So, I popped over to see the EA (didn't want them to screen my calls as I got the feeling they'd done on a few occasions before!) and got told that the buyers buyer's Survey came back with 'issues' and that they wanted a reduction of £30K off their offer price which our buyers had refused. I don't know how I stayed calm and didn't burst out crying! The EA said the buyer's buyer's were trying it on because our buyer's are elderly and desperate to move and that he'd let me know by tomorrow what the outcome was.

I'm bricking it. What if they back out? We're back to square one and will lose out on our purchase :'(

Apologies if I come across as immature in my posts- I can assure you I'm a responsible person with a grown up job! Just feel like a dithering idiot through the selling/buying malarkey.

Pressed 'post' before adding: Has anyone else been through this? Can situations like these come good at the end?

mussinboots I have no experience but arrggh that sounds a nightmare. I hope they stop being so awful. Gazundering? I think that's what it is. Horrible

Lazy, I think so! He's a FTB and has been living at home so he's ready to go whenever. The rest of us don't have that luxury- as is the case for most of us. I was hoping for more than a week between exchange and completion but that would take us up to half term and my seller is moving to the coast so understandably wants to avoid traffic etc.

Have you exchanged yet?

I'm praying we will tomorrow and that he is just disappointed but will come around. 🤞

muss fx they can work it out quickly. If the issues raised by the survey are serious then it’s fair enough for them to drop their offer. Not nice for you though!

Dragon

I have an appointment to see my solicitor on Friday to get the ball rolling in earnest. I feel like I need a proper adult to do this!

My leafleting of the neighbourhood resulted in a phone call on Sunday from someone who wanted to sell. I’m a bit gutted that it’s a week late but I remember his neighbours being a bit dodgy so I doubt I would have gone for it anyway

Good news here today. Our buyer has accepted an offer and we are now in a much better position buyers buyers a ftb and we are the top of the chain AND our mortgage has finally been approved after loads of additional info and faffing. Amazed how things have turned full circle in less than a week. Fx things carry on this way. Also moving boxes on 3 for 2 in argos so very slowly getting there

Oh Dragon seriously ridiculous tantrum from your buyer. Just because he can move out whenever doesn't mean everyone else has that luxury. Hopefully the EA can talk him round and point out the reality of the situation. Fingers crossed for you

Excellent news sausage. I really hope it runs smoothly for you from here!

muss we had something similar-ish when we moved to our current house. There were 6 in the chain (I think it's relevant that it was quite a lengthy chain). So our buyer was selling to FTB but they dropped out. The rest of the chain was holding out for our buyer to find a new buyer. They had an offer from a developer but it was about £25k less than previous offer. The way the EA's arranged it was to split the £25k across the 6 in the chain so that everyone came down a few thousand which then allowed my buyer to accept the lower offer.

Is something like this possible in your chain? Perhaps not the full £30k but enough to give the purchaser a reduction to sort out the survey issues?

A proper adult ThomasRichard - you will handle it perfectly.

Good luck to everyone today - hope you all have positive and progressive days

Thanks all, for your input.

Yoga- there are 4 people in our chain. Our buyer's previous 2 buyers pulled out for one reason or other. The current buyer's buyer has hit the jackpot with our buyer's house. It's a £million pound plus house in a fantastic location with an award winning school with a tiny catchment. It needs a lot of updating hence an already 'low' price which they've got a significant reduction on (they offered £80k below the asking price). The EA thinks the buyer's buyer has significantly reduced his offer at this stage because he knows the elderly couple selling are desperate to move and downsize into our place. Our buyer's have had lower offers accepted on their property previously, it's just that they and the EA thinks that this buyer is taking the biscuit and taking advantage of a desperate/vulnerable couple. And, the EA have been through the survey report, which although was carried out by a RICS Surveyor, they feel is written by a friend of the buyer (apparently it was a 20 page report without the traffic light/colour coded system- our report by comparison was 90 pages!).

Our chain above is an elderly lady in her 70s moving into a retirement property that has just recently been built- there is very little to no chance the chain above will wait for us or help us absorb costs.

We'll find out later on today to see what has been decided. I'm not expecting good news.

whatthesausage is that in-store only? I can’t see it online. I’ve been saving my Gousto boxes and DS has already started packing his toys!

That does sound crap muss. I hope it’s good news.

Yes this is very different muss. In our case we knew my buyer wasn't just messing us about and gazundering at the last minute. It's the integrity of the situation that is different isn't it and your buyer's buyer seems to fundamentally lack that.

I guess if your buyers really are that desperate they may accept just to have done with it - or accept a reduced amount. Might it be worth them getting their own building survey done? It's expensive but nowhere near as expensive as a £30k price reduction.

I hope you get good news today

Eek you guys dropped off my active threads! I've had a week of newborn fun, my little girl is such a star I'm loving it, although naturally I'm chronically sleep deprived

Move-wise my vendors have requested an end of the month exchange and completion because Mr Vendor's vendors are going away for 6 weeks at the start of November, and his mortgage offer will have expired by the time they get back. But my EA are being totally useless at getting in touch with my buyers to see if this will work for them, despite several calls, so I've asked my solicitors to chase, but it's not looking good for the end of the month if we can't even get in touch!!

Argh so buyers mortgage offer ( which was confirmed on Friday) hasn’t reached their solicitor yet. So mortgage deed will not get sent out till next week earliest. I cannot see us being in for half term... I am at the end of my tether with no one able to commit to anything.

Hi Nessa lovely to hear that little Nessa is fine and happy

Any chance you could pop into your EA's and wait while they chase your buyers? Having to wait an additional 6 weeks would pretty much rule out being by Christmas I'd imagine and surely your EA wants their commission so it's got to be in their interest to speak to your buyers agent's and get things moving more quickly.

Is it just your buyer now to sort themselves out Giz? It could still happen if they put lots of pressure on their conveyancers. Are all their searches done?

@yoga yep everything else is in place for purchase and sale bar their mortgage deed. Frustrating as everything was ready bar their mortgage 2 weeks ago! I have just vented to my hubby ( it was swear lots or cry) and feel a bit better.. I am not going to chase anyone for a few days as it doesn’t change anything and just winds me up. I am now sat waiting for School to kick out and listing to the Hamilton soundtrack.. so feeling a bit better

If the solcs get the mortgage papers before close of business tomorrow everything could be in place by early next week. Fx.

Anyone know anything about rising damp? Apparently there has been some treatment as te house we are trying to buy which is guaranteed for 30 yrs. can't decided if it's a big issue or not. Still I guess the survey will let us know if there is any more.

Our vendor is also going away for the whole of November so if we want to be in Christmas we have to get a massive wriggle on although we could exchange while they are away. Annoyingly they've sent back the inquiries follow pretty shoddily completed. No details of elec supplier or where the stop cock is. It's not a cheap house and we're contributing more to make the chain work yet they are proposing to charge us for oil in the oil tank..... 😡

No news here. I'm spending hours on the phone every day to chase. DH and I are discussing the possibility of pulling out of the purchase to protect our sale. Really don't want to because I love the house but I cannot afford to lose our buyer and the top of the chain is basically acting as if we just need to be patient and wait. TBH I am really starting to struggle now; I'm exhausted and I don't think I have much more energy left to throw at this - as it is I feel like I am doing the job of both EA and conveyancer right now.

So sorry to read about others problems - sending lots of positive vibes your way.

Could you move into temporary rented accommodation while you wait for your vendor's Lazy. Certainly worth protecting your buyer in this buyers market. You need to look after your health and if splitting the chain, or even pulling out of your purchase is the way to do it, then you need to consider it IMO. I don't mean to sound patronising or motherly but I find yoga and meditation can help me when I get stressed (which is all the time at the moment!)

I don't know about rising damp Raaraa but our property-to-be also has some rising damp which has been treated in the past. Our survey recommends we have a specialist survey but that's on hold at the moment due to the broken chain situation.

... oh, and I would call their bluff on the oil in the tank and tell them to take it with them and you will buy your own!

So… we've pulled out of our sale. Our buyer still couldn't give us confirmation of when they'd get the rest of their funds in place and it's very obvious they can't meet the deadline to complete before we'll have to reapply for our mortgage offer. Feel like a total chump for allowing ourselves to be strung along for so long. I don't think we're going to look for a new buyer - we feel utterly rung out by the whole process and the thought of starting again makes me want to cry. It will mean pulling out of our purchase though, and I feel awful about that, but after six months of stress I think for our sanity we should wait until the spring before trying again. Good luck everyone with your sales and purchases, hope you all get there in the end.

Oh no @olivia that sucks...