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Original poster

Sellers/Buyers roll call Part 4 Keep strong everyone!

999 replies

alifelessordinary · 13/02/2019 16:46

Thought I'd start a new thread as previous one had hit 1000 posts and wouldn't let me reply!

@LookingOptimistic why do solicitors have to be so difficult at times? Hope it gets resolved for you soon.

The indemnity policy came through this afternoon, so we're hoping we might be exchanging sometime next week...unless something else crops up!

OP posts:
TokyoSushi · 26/02/2019 13:23

Oh @alifelessordinary that's horrific, what a complete nightmare, I'm so sorry.

@tenapenny how are you getting on with your garage now? Week 28 here, I've paid the best part if £5K for mine, your sellers should be pleased that they're getting off with £1000!

Thekitten · 26/02/2019 14:09

@alifelessordinary that's devastating D: so sorry to hear, I hope they manage to find another mortgage provider quickly. Has exchange already happen or is it you that was exchanging and completing on the same day?

This is my worst nightmare, I'm with Nationwide and I'm worried they'll do the same thing D:

Original poster
alifelessordinary · 26/02/2019 14:32

Thanks all for your kind words it means alot.

@The kitten yes we were supposed to exchange and complete on same day. I found out that my buyers file was audited and they found a HMRC payment had not been paid. They've paid it and the broker spoke to Halifax who said they would accept it but we'll see....

@Tokyosushi are you still waiting for a date now?

OP posts:
TokyoSushi · 26/02/2019 14:38

Yep, week 28, £1000 more for a couple of lines in the lease and a bit of colouring in.

Round and round and round it goes, where it stops, nobody knows!!!

Original poster
alifelessordinary · 26/02/2019 14:52

Omg I really feel for you. Paying all that money out on a garage that you own just for some paperwork is criminal.

OP posts:
Thekitten · 26/02/2019 15:04

@alifelessordinary I hope that Halifax come up with the goods quickly. At least the irregularity was quickly fixed? Why didn't Nationwide just withhold instead of withdrawing? :S so nervewracking!

tenapenny2018 · 26/02/2019 15:06

TokyoSushi

Week 13, I am catching up!

My lender told me today that the case has to be looked into by an "independent assessor ", which will take up to 3 days, so I do not expect anything this week. Sad

In my case, it should be easier and cheaper to rectify the defect; and if it is just a few hundred pounds, I am even willing to split the cost with the seller, but if the seller want cut off their nose to spite the face, then I think I will have to pull out.

TokyoSushi · 26/02/2019 15:08

Oh goodness @tenapenny2018 let's hope for good news - bloody garages!!

tenapenny2018 · 26/02/2019 17:17

TokyoSushi

I had a chat with the agent. It seems the sellers are willing to do a deed of variation, if my lender demands it. They are the one want to complete ASAP, and then they risk everything fall apart at last minute.

But in case my lender doesn't need the DoV, I am still not sure if I want to go ahead, because I can see the same problem will happen when I sell it and then I will have to pay for the full cost! Angry

ALadyofLetters · 26/02/2019 17:25

@tenapenny2018 Can’t you say that your solicitor insists on a deed of variation then it is all done and you don’t need to pay.

ALadyofLetters · 26/02/2019 17:26

What a nightmare @alifelessordinary I hope it all gets resolved asap.

tenapenny2018 · 26/02/2019 17:49

ALadyofLetters

Well, we are more practical people, and do not want to cut off our nose to spite the face. The house itself is good and we have already incurred about £1,200 on conveyance included survey.

It is annoying, but my solicitor indicated that it is probably just a few hundreds £££ to sort it out, so it is not worth pulling out and then have to start this all over again.

ALadyofLetters · 26/02/2019 18:04

In which case @tenapenny2018 annoying as it is then keep going! If you plan to live there for a long while (indeed, who wants to put themselves through this process ever again!!) then it isn’t an imminent problem.

TokyoSushi · 26/02/2019 18:51

Do you have a 'normal' mortgage @tenapenny2018 ? i.e. just with a high street bank or whatever? If so I'm sure a deed of variation will be fine.

We were originally going to go a deed of variation but our buyer has a 'non-standard' mortgage, so they needed to do a 'terminate and re-grant' i.e we needed a whole new lease including the garage, hence this whole saga and £5K down the drain 😭

tenapenny2018 · 26/02/2019 19:59

TokyoSushi Oh, I have never heard 'terminate and re-grant' before. That's so over the top. Well, you are probably using up all your bad luck of this life and the next, so it will be glorious all the way from here!!

Yes, we are with a major high street bank. we have a decent amount of deposit. We are almost worried that the lender will wave it through anyway, simply because they can pass the financial risk to us! Confused

ABingThing · 27/02/2019 04:33

Thanks @Milly90 , first viewing hopefully on Thursday as we sign with agent on Wednesday

Jouley · 27/02/2019 07:04

Hi can I join?
We have 'sold' our property to a buyer who has already completed on their own sale. They have already started searches etc and their mortgage valuation is happening at the end of this week.
We have found a property and had an offer accepted. The vendors have also made offers and hopefully will have a place as soon as possible. We have received paperwork from their solicitors and survey is ordered. What happens next? Should I be phoning the estate agents to clarify my vendor's position or the solicitors? Or is this a bit of a quiet phase whilst they get sorted? I'm anxious not to lose my buyer and want to keep momentum going !

WBWIFE · 27/02/2019 11:20

@Jouley The estate agents should be keeping you up to date with your vendor, mind you with the chain incomplete the chain could go on and on if the place your vendors buy has a c hain and them a chain so on..

top of our chain said they will go into rented if needs be, we had searches paid for 2 weeks ago and were just waiting now for them to come back and any other updates really.

I chased solicitors today to see if any searches have come back.

NewYearNewSocks · 27/02/2019 12:18

We’ve hit a snag in the otherwise smooth road. We kind of expected this though. Our mortgage valuation has valued the property we are buying at £15k under offer. Stressed isn’t the word. It’s north east so this a fair wack of the purchase price. Waiting for EA to ring back as she is currently talking to the vendor. Apparently they were expecting this.

Our sale seems to be going well. Buyers want a second viewing, seems the survey brought up a few small roof repairs, so they also have a roofer coming out. No mention of it being undervalued though which is what we expected. If we hadn’t wanted a quick sale we would have marketed 20k higher. They apparently met my neighbours on Sunday showing the house of to family. I was out with the baby otherwise I’d have let them look around then. They really are lovely FTB.

hartof · 27/02/2019 12:35

Well we're all set for the 8th, house is ready, developers have said 8th is fine. But we STILL have outstanding queries on the purchase. They all seem to relate to the estate so really everybody on there should have had the same agreement, but two people I know who live on there said they had no queries back (we had 29!!!) and the people next door moving in at the same time as us also had none.

It doesn't make sense does it? I've emailed head office and asked them to chase their solicitor but I'm thinking of calling this afternoon and asking why we've had 29 when other people have had none. There must be information our solicitor hasn't received.

ABingThing · 27/02/2019 13:19

We're on the market and waiting to hear back on an offer for the one we want.

Does anyone have experience of buying a property which is part residential, part commercial? The fear has just kicked in!

TeamRocket · 27/02/2019 13:24

Hi everyone, posted a while back but been more of a lurker!

So it looks like out house purchase is about to fall through. Turns out current owners have no planning regulations at all of any of the building work they've done in the house, which is a lot of structural. Also no gas safety for boiler installation, or certificates for any of the electrical rewiring that was done through the whole house.
We had a survey done that pulled up lots of structural issues, but had builders round, got quotes etc. We're almost at exchange, and the vendors have only just replied to the searches after us putting an offer in 3 months ago which is a massive red flag for me.

Gutted because it was the perfect little house for us, but it's really not proceedable is it?

ALadyofLetters · 27/02/2019 13:25

Eek, @NewYearNewSocks that is stressful. Hope you hear something quickly. Do you think the vendor might reduce the price?

WBWIFE · 27/02/2019 13:32

So just spoke to our solicitors, now they've received my marriage cert to confirm I am the same person as my previous name!

We had our offer accepted on a property on 05/02/2019, paid for our searches to our solicitor not long after. JUST emailed to ask for an update, if we had any searches back yet. They haven't even sent them!!

They have to wait for the draft contract before sending them apparently, and they have receiving no correspondence or documents from the vendors solicitor.

This isn't good is it? Ive bought 2 houses previously and they've always been quick with this. I don't understand the hold up, vendors haven't been away and are a retired couple! Bizarre.

Have emailed the EA to see if they will chase the vendors!

WBWIFE · 27/02/2019 13:35

@TeamRocket when were the changes done to the house? As building regulations before a certain year were very lax and I don't even think needed as such.. (so I was told), our current property had a double storey extension done early 90s and didn't have any, our solicitor said this was common and that an indemnity insurance paid by the vendor would cover any issues(IF ANY!) that we would face in the future.

When was the works carried out? Have you spoke to your solicitor about them? Are they advising best to pull out?