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...

We got a call to give the go ahead and then once it was done

Hi all, can I ask for support on behalf of my mum and dad? My parents are waiting patiently to exchange contracts with a buyer who is dragging her heels and they seem to be getting one excuse after another as to why they haven't yet exchanged. They have been told yet another story reason today, which will delay exchange for another couple of weeks. My parents are and worried.

DPs are buying a new build, which is ready to go, and there is only one person below my parents in the chain. She doesn't have a property to sell, so from the beginning it sounded very straightforward.

The offer on my parents' house was made and accepted around 4th September, and the aim was to exchange around 18th October (although I know this date doesn't really mean anything, and obviously it came and went without anything happening). Since then, the buyer's solicitor has been waiting until yesterday for one of the searches to come back from the local council. It transpires today that this came back with some questions. My parents' solicitor does not yet know what these questions are, so we don't know how long it might take to answer them.

In addition to this, the buyer, who had a mortgage in principal at the outset, was subsequently told that she needed to clear a credit card debt in order for the mortgage to be approved. She has done this, but now she apparently has to wait until she gets the next mortgage statement so that she can send proof that the debt has been cleared - this could take two to three weeks, apparently! A bank statement with the details of the payment won't be accepted.

We're hoping that it is just the search questions and the proof that the credit card debt has been cleared that is holding things up. What else could the buyer possibly use to stall? I've suggested that they tell her to start organising buildings insurance as she will need that in place for the exchange to go ahead and they don't want to waste any more time waiting for her to get her arse into gear.

My poor parents are so frustrated. They have their hearts set on their new home and they are so worried that their buyer is flaky and will pull out at the last minute. She has already done a disappearing act a few weeks ago for over a week, and is notoriously difficult to get hold of. They don't have any idea of a completion date yet either. To top this off, they have started packing and the boxes are a constant reminder of the move. I'm worried about my parents' stress levels.

What can I say to them to help? I suggested that they find out from the removal company some dates that they are available (DPs have a lot of stuff to move over a long distance, so they need to book the removal company for three days ). Is it reasonable to suggest a date two weeks from now - that would give the buyer a week to prove the debt has been cleared if she were to get off her bum and make a few calls to chase it and for the search queries to be resolved. Then they'd still have a full week between exchange and completion to satisfy the mortgage company. I thought by suggesting a date that it might chivvy the buyer up a bit, and if she didn't think she'd be able to complete in that sort of time frame, she might say what else is going to prevent it from happening, and suggest a date that she thinks she can do instead.

I really am feeling my parents' frustration and want to be making helpful suggestions. Anything positive I can say to them?!!

Good luck to everybody going through this - it's such a stressful time. We did it two years ago and I vowed never again!

Could have exchanged today but wait for it...turns out someone hasn't got the information they need in order to do so. Aaaarrggghhh! my EA is on it first thing tomorrow. As am I!

Well after a last minute change of completion date we have finally Exchanged!!! It has been such a nerve wracking process but finally the end is in sight! We complete on the 3rd so hopefully plenty of time for packing! The sense of relief is immense!

Good luck for all of you still waiting for things to happen. You will get there. It has taken us since March and with a few hiccups along the way!

Yay fab news @prehaps

Good luck @serial

@Dolce you’re parents EA can do a lot of chasing and discussing dates. TBH it is still very early days in their process so they may need to wait a bit longer

Wow lots of good news today! Congratulations everyone. Lovely house @pullingmyhairout1
My mortgage valuation and survey has been booked for 3rd Nov so not moving particularly quickly here. Hoping to exchange before 30th Nov but obv too early to tell.

@Gizlot My parents seem to think that they've had their paperwork through from their solicitor and that they are ready to exchange. What should they be asking their estate agent to chase? I think my dad has been in very regular contact with them, but he is of the impression that the estate agent isn't very effective!

Dolce the EA won't be able to help you, it's the solicitors who can advise at this stage.

To me it sounds as though you are very near to the end. However, the local search can reveal things like planning permission, tree preservation orders, building regulations, whether or not the road is adopted or any nearby roads which are unadopted, also whether there is a Fensa Certificate or Gas Safety Certificate issued. The buyer's solicitor can raise additional enquiries on this sort of thing, which will go to your solicitor and then is referred to you for supplying evidence or missing information. A week to gather responses is probably a little tight.

The mortgage lender will want to see evidence that the credit card debt is paid off, so yes, the buyers will have to supply a bank statement showing the amount and the payee clearly. However, if the buyers do online banking they should be able to view the up to date credit card statement and print off a copy, rather than wait for the statement to arrive. I don't understand why they need a mortgage statement - what does that have to do with a credit card payment?

Thanks Spickle. Sorry, I meant the buyer needs to wait for a credit card statement to show that the credit card debt has been cleared, not a mortgage statement, as I said in my post! I agree, she should be able to go online and download her latest bank statement which clearly states the payee to show that the debt has been cleared. Failing that, she should be able to get a credit card statement online and forward that to whoever is requesting it (I imagine it's her solicitor?). Is there any reason why she would have to wait for the credit card company to issue the regular paper copy of the statement, or will they normally accept something electronically?

It's interesting to know what sort of things the searches might turn up, so thank you for that.

I think my parents have just accepted what the EA has said up til now without really questioning it or applying any pressure (they've just been worrying themselves silly about everything and getting stressed about it all). I think it's probably time for them to get a little bit more assertive and start making a few demands themselves!

The EA may be able to get your buyer moving quicker ( ours seemed to get a better response rate than our solicitor)

Thanks Gizlots. What can the EA say to the buyer to get a bit of action out of her?

She's not selling the house that she's currently living in, we think she's going to rent it out. I'm convinced she hasn't found a tenant and this is why she's not in a particular hurry to move. I've tried Rightmove and Gumtree and there is no sign of a house to rent in her road.

They can get an idea of where she is in the process, chase her solicitor, talk dates and expectations, get your parents to suggest their ideal date to the EA and get them to pass that down the chain

Thanks, Gizlots. I suggested that they contact the removal company to get a couple of dates that they can fit my parents in and to tell the buyer that these dates work, in the hope that they can find one that the buyer can do as well. Glad I wasn't too far off the mark with that suggestion! My dad has been liaising with the EA but he says that he just doesn't seem to be getting anywhere. I think he needs to roll his sleeves up for the next conversation and make it clear that he wants a proper update on the buyer's progress from the buyer's solicitor, with details of any possible hiccups that the solicitor can forsee. I'm sure my parents will feel a lot better once they have a date that they can start working towards.

Great news perhaps

In a weird twist our vendor is now apparently thinking about part exchange with us. How wonderful that would be, but I can't bring myself to even hope for such a wonderful outcome.

Yoga they must really want to sell to you fx

Hi everyone,

I'm still gobsmacked and appalled at the clusterfucks these solicitors create - they don't seem to give a shit it's people's lives they're screwing with.

Well, shoulder and back no change. House front - everyone has signed contracts! How do you hear theyve exchanged/do they warn you? I've not instructed the house insurance yet but as its a thatched place I know where we're going to - should I arrange for tomorrow?

We're aiming for a completion on 16 Nov. It took us almost a year to sell, I am so pig sick of this process, it all seems so unnecessarily stressful. Giant 'get moving' vibes to everyone still waiting. My tips are constant badgering of solicitor and EA and if possible make a personal link with your vendor/purchaser. A lot of the pissing about and bullshit stopped once the realised we were all in touch.

Another exchange! Hurrah @perhapstomorrow ! That's three this week so far - let's set an inaugural thread record... fx for Lazy, Serial, and meeee! 

That's incredibly random and awesome @YogaDrone ! How would that work?!

I finally sorted out my home insurance I've been chasing everyone to agree next Thurs for completion - my buyers and vendors ok, just waiting to hear from vendor's vendors! My removals firm have the slot pencilled in... I think I'll lose my nerve by midday tomorrow and just book it and pay the damn cancellation waiver

@Nessa we're at 39 pages... crossing everything that can be crossed for tomorrow all of us not to be on page 1 of the next thread unless it is to say 'we've exchanged!'

Congratulations Pulling, Gizlots, Perhaps! It must be a wonderful feeling to have exchanged with completion in sight.

Pulling, that house is beautiful, congratulations.

Honey, welcome to the mad house race :-)

Dolce I think perhaps a discussion with the vendor if your parents have direct contact with the buyer, to discuss suitable dates and timelines?I know your parents are frustrated at the wait but it is important to make sure your buyer does not feel too much pressure and backs off.

Ness, I hope that becomes a pattern quickly - the sleepless nights are the worst of having a baby! Everything else is wonderful .
Keeping my fx crossed on the house.

Yoga, say YES!

As for us, we are still waiting on a response from our vendor. We were told solicitors are on holiday and will be back next early next week. So we are waiting to hear. The rest of the chain is ready now bar the very bottom, which means we could hopefully exchange before the end of November - fx crossed. That means we have a bit of time to wait on a response from the vendor, there is no great hurry. We have decided that without the needed work being made good by the vendor or a price reduction which would enable us to do the work, we will find it difficult to proceed.
But keeping my fingers crossed for good news in the week.

Lovely house pulling

Congratulations on your exchange Giz & perhaps
Sounds good Yoga hope it works out.
What issues have you had with online conveyancing belhamwalk? We're using online conveyancers & they're really good & saving so much time. I couldn't be happier tbh. I guess there are good & bad with everything.
Our buyers buyers are having their survey done tomorrow. Must be 2 months now since we sale agreed, seems funny they're still at that stage. Thankfully everything else is ready! We want week 20th November, so if all goes to plan we could be moved in this time next month!

Our ea rang on friday and said all is progressing nicely, vis voicemail so couldnt grill him properly 🙄. Our valuation and survey is being done on 3rd of November and apparently everything else is in place but no talk of dates so far. Would love to know which side of Christmas it will be so I know where to start stashing Christmas presents. Feeling quite relaxed about it all, well today at least

I've been keeping quiet but at the moment it's still ticking through. Mortgage offer through, survey done and preliminary report gives it a clean bill of health, searches back but got 22 additional queries with the vendor which we sent on 13 oct but apparently only reached the vendor yesterday 🙄 and they are away abroad for the entire month of November. It's going to be interesting to say the least to get this info out of them. We need a month between exchange and completion as we are in rented but the top of the chain are talking about completion of 14th Dec too so it might work out. Not impressed with the vendors solicitor who it appears has totally sat on things.

I'm getting stressed about moving the children's school. There were places in the right years two weeks ago but whether they are still available I've no idea. No guarantee of getting them into the same school makes me want to cry. The council website just says make sure there are school places before you move. But you can't be sure they will still be free until the point of exchange so do they expect you to just pull out if there aren't?! Another thing to lose sleep over...

Hi all, hoping that you move as quickly as possible. Searches have now been requested, contract sent and enquiries being prepared. So here's hoping it moves quickly!

We're gonna need a bigger thread...

Sounds very promising Bunny, fingers crossed for exchange soon!

Fingers also firmly crossed that you all exchange quickly Nessa, Serial, Lazy

Fingers crossed it continues to progress nicely Whatthe

Pixie - wow they have taken their sweet time arranging the survey. Perhaps they had to sort mortgage issues or some other impediment first?

Completion on 14th December would be good Raaraa - Christmas in your new home and your children can start at their new school for the Spring term. Here’s hoping!

Thanks Giz, Nessa, fialor, Pixie. LOL fialor - believe me if he offers we will be channelling our inner Del Monte man and screaming YES at him!

I’m not sure how it works Nessa. DP did a bit of reading last night (while I was doing DS’ homework for him ) and found some info. on how it works for new builds but how this works for “normal” buyers we’re not sure. Vendor’s EA said that he has done this before. I know that our vendor is in the property business but is retiring and selling up his property portflio. The house we want to buy from him is his family home and has been for 20 years. It’s not really suitable for a rental market though as it’s very niche, quite rural (for this area at least) and nowhere near the station. Our house is far more “bog standard” and he would have a good chance of getting tenants. I also suspect he doesn’t want to rent out his family home (too much attachment) even if it were suitable. My impression also is that he doesn’t want the house empty over the winter and is looking for alternatives. In an odd way our vendor is even more tied by the flat market than us. At least we could just stay put and ride it out but he has a 300 year old, G2 listed, empty property with winter fast approaching.

We haven’t had any feedback on 5 out of the last 6 viewings so I’ve had a moan at my EA and he’s calling me later. We do have a viewing this afternoon so fingers still very much crossed.

Best of luck for all of you waiting on exchanges today