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Original poster

Sellers roll call part 2. Who is still on this treadmill?

980 replies

MovingThisYearHopefully · 08/08/2018 14:50

I thought it was about time to start a new thread as this one is close to 1000 messages.

Who is still here & what is your story?

Heres me: I have been trying to move since April last year. Had a buyer, buyers lost their buyer in October & still haven't got a new one. We remarketed at a low price in November in order to continue buying the house we were at point of exchange with, but were unable to get enough to move on & lost the house in February.

Prices are definitely falling here in Surrey. Realistically we're looking to get 10% less than our original asking price, if we're lucky. Getting viewers has never been an issue, regardless of price. This process has been stressful beyond belief & almost split me & DH up. Surely our luck must change soon?

One thing that seems to be helping us get more interest than other properties is that we have now agreed to go chain free. Is this a possibility for any of you struggling? If offered significantly less than asking price then as far as I see it you are within your rights to say chain free was based on near to asking price & not affordable at a significant amount under! Worth considering perhaps?

OP posts:
Original poster
MovingThisYearHopefully · 25/09/2018 13:51

From what I understand from your posts it is the mortgage company that requested the additional survey wasn't it Flamingo? If that is the case then if they deem it appropriate they would likely require works to be completed or funds available to complete the works soon after completion. They could hold back some funds on the mortgage offer to cover the costs until it is agreed. It is positive that the surveyor doesn't see this as something needing doing urgently & hopefully the mortgage company agree, as ultimately it is their interpretations of the new report that matters most, then you have the buyers to worry about afterwards unfortunately. I will certainly be keeping everything crossed for you. Its a shite situation. Flowers

OP posts:
flamingofridays · 25/09/2018 13:56

moving yes it was the mortgage company that requested it. They put a £2000 retention on our buyers mortgage. I think I understand correctly that means that, either they will only lend them the amount they asked for less then £2000 or the work is done and they release the £2000 and we get full price. Does that seem right?

It would be to our advantage to do the work ourselves, as it should cost less than £2000. Worst case scenario we lose 2 grand and we are a up shit creek, but with a v small paddle. We could still buy the house but we'd be scraping by for a while.

I just phoned the company who did the survey they said it will get emailed through today (to FTB guy though not me) so I will message him later today.

If I hear nothing I will ring him tomorrow morning and chase it up again.

The sooner I know, the sooner I can do something about it, or not as the case may be!

harriethoyle · 25/09/2018 14:43

He's unbelievably nosy @aunt as is his wife. They have NOTHING better to do that nose on the street all day. I'm tempted to threaten to report him to the police for harassment but would that then constitute a neighbour dispute for the purposes of the selling questionnaire? I'm really keen to avoid that for obvious reasons...

Original poster
MovingThisYearHopefully · 25/09/2018 23:48

That sounds about right Flamingo. My parents had a similar scenario with a house they bought years ago which apparently needed wall ties doing. According to the neighbour, (who was in the trade) it wasn't necessary, but unfortunately the mortgage company disagreed so it had to be done. That was a 1k retention for that, 30 years ago.

OP posts:
twinkydink · 26/09/2018 07:03

aahh sorry @flamingo I had missed the posts about it being requested by the mortgage company. My fingers are well and truly crossed for you!

We have fears about that as well as the house we are buying is in dire straights but we feel that our offer reflects that and we have a really good LTV so we are hoping that is taken into account. Anyone ever bought a complete project before?

@Harriet I feel your pain, some people are just awful! if you report him I believe you will have to declare it. I just can't understand people like that, get a hobby!!

harriethoyle · 26/09/2018 09:01

That's what I feared @twinky... fingers crossed decking victory will shut him up!

flamingofridays · 26/09/2018 09:31

thanks twinky! we should get the actual report today, see what their mortgage company say and then get some quotes if need be!

this house was a project when we bought it, lots of hard work but worth it! I love what we did to it in the end. I will be a tiny bit sad to see it go. The next house is somewhat of a project but hopefully nothing more than stripping some textured wallpaper, knocking a wall down and sticking a new kitchen in.

I think the benefit of a big project is you can have it exactly how you want it, no compromising.

jgm · 26/09/2018 09:34

Ive changed my approach from looking at the top of our budget for a ‘finished’ house to looking at cheaper houses that need a new kitchen / walls knocking through etc. I designed our kitchen here and I love it so I’m excited about getting big pan drawers etc again!

Auntpetunia2015 · 27/09/2018 11:25

Well moving day is tomorrow. Solicitors have contracts hoping not to much back and forward questions as we have provided them with all gas reports and fensa documents already. Moving out is stressful enough without solicitors being a pain. Good luck all. I’m slowly getting lost in a sea of boxes ..

harriethoyle · 27/09/2018 11:29

Good luck @auntpetunia2015!

twinkydink · 27/09/2018 11:32

@flamingo did you get any update on the report?

@jgm I think that's a good shout on your approach, will definitely widen your search. our previous properties have all been projects but this is next level! Quite nervous.

Good look @auntpetunia I hate moving with a passion. We've never used movers before but think we will this time, what's everyone's thoughts on them?

Auntpetunia2015 · 27/09/2018 11:35

I’ve only ever loved using movers and they have been amazing and so much less stressful than doing it myself this time!!

Sellers roll call part 2. Who is still on this treadmill?
Auntpetunia2015 · 27/09/2018 11:36

Don’t know where the loved came from should be moved ! But I did love them !

harriethoyle · 27/09/2018 12:13

I've used movers the last twice and will never go back. It's SO much less stressful.

twinkydink · 27/09/2018 12:21

I think we will be using them this time! when we moved from the flat to the house we just had one vans worth of stuff. Definitely got more than that this time plus 2 children under 2, going to need all the help I can get!

flamingofridays · 27/09/2018 16:06

Good luck aunt!

Yes we did they reckon we nees to damp proof the whole front bloody wall!! As well as replace the joist thingy in the cellar.

Someone coming over for a second opinion tomorrow and another next week!

900 odd quids worth of work they reckon!

Original poster
MovingThisYearHopefully · 27/09/2018 20:00

That doesn't sound too bad then Flamingo. What do the mortgage company want? Work complete & warranty prior to exchange, money off asking price or a cheque for the amount it will cost for the buyers to use to get it done upon completion? Could of been a LOT worse! Flowers

I have lived in many project houses before. Total fixer uppers needing everything doing to them.. 1930's houses that were all original. My ex husband is indeed the DIY neighbour from hell. Can't say I enjoyed it, but after 10+ years of living in a dangerous building site with a husband who thought it was appropriate to leave tools lying around with young DC & whose idea of family time was a couple of hours a week at the DIY store I can be forgiven for being a bit sick of it lol. Hence I am buying a new build with current DH who can barely lift a paintbrush! Grin

Good luck with the move tomorrow AuntPetunia. Getting movers in is essential really. Not worth the stress of doing it yourself. If we have the money to spare I will maybe get the movers to pack this time. Will have to see how the piggy bank is looking! Smile

OP posts:
flamingofridays · 27/09/2018 21:08

moving the buyer sent the report yesterday to the mortgage lender but nobody has yet instructed me as to how the mortgage company want to proceed! I will chase that up tomorrow.
It could have indeed been a lot worse!

Dickybow321 · 27/09/2018 21:53

We've exchanged today! Grin
But we're completing tomorrow Shock
Thankfully our buyer is away until Monday and has kindly let us take the whole weekend to move in! 👍🏾

Original poster
MovingThisYearHopefully · 27/09/2018 22:06

Fingers crossed Flamingo. Smile

Congratulations Dickybow321. Hope the move goes well. Flowers

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harriethoyle · 28/09/2018 09:36

Great stuff @dicky!

I've got two viewings tomorrow and the decking has been removed, so decking obsessed horrific neighbour should, HOPEFULLY, have NOTHING to shout about... Confused

flamingofridays · 28/09/2018 10:47

hope it all goes well dicky!

thanks moving should find out today.... hopefully

someone independent coming to have a look tonight so will see what he says!

Auntpetunia2015 · 28/09/2018 11:08

In a rapidly emptying house am sat on the sofa in the sun in the front garden !

flamingofridays · 29/09/2018 08:40

Morning everyone. Hope you settled in ok petunia!

We had disasters yesterday. Out solicitor left the firm and the first i heard of it was when an angry EA rang me to tell me her seller wanted to put the house on the market because as theyd heard nothing from my solicitor we clearly did not want it!

She said shed called and they had told her that our sol had left. I was mortified. She then accused us of not paying for searches and not filling in the forms. Which we did 3 weeks ago.

I rang sols and shouted a lot. He said (her replacement) he would ring ea and their sols and tell them he was on with it.

I am furious.

Also our buyer is now pissing around. Theyve sent report to bank but its been 2 days and their idea of chasing up is emailing ffs. They wanted to complete in 4 weeks now theyre pissing about!

TiddleTaddleTat · 29/09/2018 09:16

I'm jumping in!
Our property has been on the market for 4 weeks. It's currently tenanted and we are renting ourselves in a different area of the country.
Had about 5 viewings and one offer which was about 10% under the guide price. Agents passed it on to us in writing about 4 days after the offer was made... we tried to negotiate but EA said they couldn't get through to them.
Wondering if EA has nabbed these buyers for a different property.
Bolstered by this first offer, I viewed some houses yesterday and found a fixer upper that I love. Unfortunately.
Now feeling under pressure to sell ours quick. Market is slower than usual there but similar stuff is still selling, and above our guide price.

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