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...

Fialor

We're in a very similar predicament- our buyer's buyer is taking advantage of our elderly buyers and trying to get a ridiculous discount on their property- he's already offered £80K below the asking price which they accepted. He's been making all the right sounds up till now and doing what he's had to do but this latest move has really stumped us all. The EA have had a look at the survey on the property and apart from damp in 2 areas, the property is sound. His reduction was not accepted and he was meant to get back to the EAs with a final decision today. Needless to say that hasn't happened. Our property is still being shown to interested parties. The difference with your buyers is that they have reduced their asking price to show their commitment to buying your property- that's wonderful. I would stick with them and see if their second viewings lead to offers...

In the mean time, get your quotes to fix the big jobs at your next property and draft an email/letter to the vendors EA to negotiate a drop in your offer if it's something that can be justified. It's not unfair to ask for a drop in price but keep in mind that your vendors could refuse anyway.

Hoping it all sorts out for you.

Fialor we had a similar situation in our house buying saga! It sounds like your buyers are really keen by dropping their price so I would tell them that they have two weeks to find a new buyer otherwise you'll be putting house back on the market. HOWEVER - find out why the sale fell through - would it be something that other buyers may pick up on. Our buyer turned out to have a Japanese knotweed problem. Although we waited for them to get a new buyer. Their second buyer pulled out so we had no option but to put our own house back on the market.

With regards the roof definitely see what builder says. When we bought our current house, the survey showed we needed a new roof. We went ahead with the purchase and 14 years on, we have the same roof and have had no issues with it!

With our own move.....we are still waiting for exchange. It's been a partucularly stressful week and we were worried that our Vendor may pull out but FX we may exchange next week as missing paperwork has been resolved after lots of toing and froing. Only issue is now our Vendor is on holiday!! 😢 This has been such a stressful and draining process. I think if our sale /purchase falls through now we will just stay where we are and make do!

Bloody awful isn't it?! I feel a little less stressed than last night but I think that's because it's a Saturday and I can't get cross with anyone!

This can be sorted. I can be nice and get them to sort the file on Monday.

I just wish people realised it's peoples lives they are messing with!

Fialor our buyer lost their buyer because he couldn’t get a mortgage. They sold again within a week to a FTB. That was some weeks ago and now FTB and our buyer are signed and ready to exchange, which is more than you can say for our sellers

So if you still have some fact finding and possible renegotiation on your purchase to do you have time to allow your buyers to sell again. They sound keen so worth hanging onto if possible.

Radio silence from the EAs yesterday. My EA rang on Thursday to let me know FTB was ready to exchange and had transferred his deposit. She promised her colleague would chase the upward chain yesterday and update me. Heard nothing by early afternoon so emailed seller’s EA to ask if seller was chasing outstanding items and if anyone else was talking about possible completion dates. No reply from her and no call from my EA.

Soooo, looks like we won’t be completing on the 20th. At this rate we’ll be lucky to complete on the 27th. What a pisser.

So my stroppy email to the branch manager of our EA has resulted in him promising to call today. Let’s see if that happens and what he has to say...

Mussin, Perhaps, AnnPerkins, thank you.* *
I feel awful about potentially asking our vendor for a reduction once the builder quotes. But I also don't want to have to pay upwards of 20k for a roof and walls. I would be less worried if there wasn't damp evident on the ceiling.

Yes - I think we will hold on for our buyer.
Our vendor held on for us when we lost our first buyer, and I would like to "repay the favour to the universe" (though I think it was probably more time on with the fact that they had been on the market 9 months and had not had a single offer).

Perhaps, no idea why our buyer's buyer pulled out - it had nothing to do with the house though. She is an elderly woman who has changed her mind about the purchase. She was a cash buyer - living in rented. But she has since changed her mind.

So I am now in a holding pattern with our sale.
My hope now is to exchange (once our buyer finds a buyer), before Xmas.

Gizlot, have you had the call back yet from your EA?

No but I have an email. Saying the mortgage offer was issued on Monday but hadn’t reached their solicitor last week.

He’s going to check we are ready to go on exchange for sale and purchase and reckons 27th is possible

Keeping my fingers crossed Gizlot.

Fialor I agree with issuing a time deadline. Say a fortnight to find someone else - but I'd make it clear that they need to vet the buyer carefully to ensure that it's someone who is genuinely proceedable AND they need to be damn sure about the chain the buyer is involved in so that you are not adding a load of complexity to your existing situation.

Giz It's good that the Manager is now getting involved. Our vendor's EA has taken their bat and ball home - apparently they don't like being called out for telling lies. Unfortunately for them we have a lot of the lies in writing, so it's been a tad difficult for them to dispute or defend their position. TBH I don't care any more, I just want to move and forget about this whole shit-show!

I'm hoping we will be able to move by the end of the month, but it's 50/50 at the moment. The thing that is killing us is the uncertainty - and I am really unhappy with the feeling that the top of the chain is just playing God with the rest of us, while we all sit here in limbo.

First post - been reading on and off but today I need to rant. On Friday our buyers buyer decided he wasn't sure he still wanted to move - which translates into wanting £10,000 off what he is paying. EA is now trying to get the top of the chain to take some of the hit. From what I know he is downsizing and has the most money out of all of us in the chain. He waited until everyone was ready to agree an exchange date and then made his big announcement. We were originally told we would move in August, then September, then October..... I'm at the point now where I'm ready to walk away. I've asked the solicitor to tell me what I owe for work completed (also his solicitor ). On principal I don't see why he should make £10,000 for no reason other than bloody greed. I'm so angry and it's another weekend ruined where no one knows what's going on. Sorry, rant over - just feeling very sorry for myself at the moment

Dorris I'd be furious - and I'd also be telling him to fuck off. £10K has no bearing on whether you want to move or not, only whether you are able. This is a simple gazunder, plain and simple - and the EA should be reading him the fucking riot act.

In the event that he gets his way (and I can completely understand giving in and agreeing because you have all waited so long and you just want to get it over with) then I would sincerely hope that your buyer's buyer removes every single bloody thing that isn't nailed down and listed on the fixtures and fittings form. I would seriously skip the lot before I'd give it to that selfish fucker.

Oh @dorris I really wish they would stop that being able to happen. The only reason that there should be any change to the offer accepted price should be something found in a survey, with proper quotes for the work required. The whole process sucks

Dorris - what a total shit bag your buyers buyer is This has happened to two people I know and seems to be a common "thing" these days, which just shows another reason why our house purchase system in this country is so incredibly flawed.

I'm stunned that your EA's and/or vendors and/or solcs. are such lying, devious gits Lazy , Giz, Fialor and Dragon I have everything crossed for all of you

Our two viewings went well today, both are in rented so would be ideal. I'm trying not to stress but it's so hard. We've been back on the market for a month now. Our vendor is still sticking with us (not sure why except that I think he knows that the market has sunk like a stone and he doesn't want to go through the whole viewing palaver again).

Anyway, it's Saturday evening and I've got a bottle of Malbec for later I keep telling myself that life could be very much worse.

Thank god for wine eh! I don't have the attention span to name check everyone, but I have been reading aghast all your awful stories and I'm just so frustrated with the whole ridiculous bastard system. We're still in limbo here with our buyers having gone awol - we can't get an answer about the end of the month for love nor money!

On the plus side, baby is doing well, and I'm getting slightly more sleep than I thought I would be at this stage!!

DorrisFlorris, that sucks.
Has he said why he wants the reduction?
It seems a horrible thing to do for no reason.
X

I have some good news!
EA just rang. I missed his first calls (6 times) as DD was playing with my phone and kept dismissing the calls so she could continue her game.

Our buyer's have just agreed a sale!
In this moment my EA is worth his weight in salt (I reserve the right to complain about him later 😊)
But for now he rocks.

Fantastic fialor

Yay Fialor- that was very quick- you and your buyers must be so relieved! Here's hoping it's a smooth process till the end.

Just spoke to my broker as couldn’t speak to her yesterday. At the moment, my mortgage app has been declined. Don’t know why, can’t do anything until Monday. Trying not to be gutted. Haven’t told anyone IRL except my parents and don’t want them to worry over the weekend. Wine time I guess

Oh no @pussin hopefully a technical error and your broker can find you another one

Thanks Giz. Fingers crossed.

Thanks Mussin.

Oh no MrsPussin. Did your broker say why he thinks it was declined?
Hopefully it just means no more than a banding issue. Keeping fx for you.

Great news Fialor - it's nice to have a positive update for us to cling to!!

Puss Seems strange that she knows it's been declined but not why. Try L&C as they are huge and have relationships with loads of providers. Our mortgage app was not straightforward and they found us a deal without any fuss - which was a surprise because I'd been expecting a load of hassle. The rate isn't brilliant but it was better than having no mortgage at all!

Apparently Nationwide want to see more documents so all hope is not lost - I’ve just got to wait until tomorrow to find out which documents and why. I knew it would be complicated because tax credits have changed and different amounts every month at the moment.
At least I haven’t got to worry about a chain if the mortgage gets accepted. All of your struggles sound much harder as out of your control.

Great news Fialor - I hope your buyers leave those bedbugs when they leave

Puss fingers crossed. Wanting more documents isn't a refusal then, more a deferral, plus there are always other companies if Nationwide do refuse.

Glad you are managing to get some sleep Nessa