Sellers/Buyers Roll Call No 5...,

[sandybayley]

Starting new thread. Calling all the regulars...
@TiddleTaddleTat
@WBWIFE
@Allhallowseve
@BeauticianNotMagician81
@crispysausagerolls
@dimmu
@Fleabag123
@Farontothemaddingcrowd
@Frogqueen13
@Glitteryfrog
@MrsPatmore
@Smart123

@Smart123 hope you hear soon!

Thanks everyone it's so frustrating. We only had local authority back yesterday!! Waited bloody ages for it, it was ridiculous

Will be chasing all day tomorrow pestering for exchange!

Good luck @WBWIFE. Hope you can exchange asap.

Farontothemaddingcrowd looks very comfy and hope you're enjoying your new home!

TiddleTaddleTat Congratulations at last!! You can celebrate now!

@sandybayley thanks for that it's helpful. We just assumed with the age it would make sense to go for the full survey but I think it makes sense. It's fairly standard standard construction for a 1920S house. Think we will do that and see where we get to.

Can't help but have that feeling everything will go wrong! Am just desperate for our vendors to find something and am hoping it's an end of the chain property too so we can start progressing properly.

We're also waiting for our vendors to find somewhere. Apparently they are looking at 4 places over the next few days so fingers crossed that they like one of them and that it is the end of the chain!

When we bought our current house, we were ftb and we bought it from someone who'd been letting it out so the whole process took 7 weeks, and we were totally in control of the timescales.

This time I feel like we're just at the mercy of everyone else and it's pretty nerve wracking. It feels so unlikely that it will all work out.

tiddletaddletat AMAZING! Hopefully you can now enjoy the easter weekend and let some of the stress you've been under ebb away!

Everyone else waiting - next week is a new week , fingers crossed for us all!

@TiddleToddle - fingers crossed that your vendors find somewhere but remember that it won't necessarily be the end of the chain. Even if it is it could be a probate sale or a divorced couple. Both of which bring their own challenges! Our vendors are divorced and it just adds a layer of complication to everything.

On our aborted purchase our vendors were the end of the chain and promised to move into rented but as we got close to exchange started trying to push completion back so they could celebrate a significant birthday at the house! Nothing is ever simple but hope it might be for you!

@tootyfruitypickle some of the stress! Not all, unfortunately - we still have our purchase and that is under pressure because our landlord has just served us 2 months notice...

Solicitors called me today. They are waiting on 8 outstanding queries which were sent back 13 March.

I have a feeling these have been overlooked somewhere! They have sent email to vendors solicitor again, I called our vendor back and advised they have 8 outstanding enquiries. They were going to call their solicitor right away.

Really hoping to exchange today

Advice please friends.

We have to give 1 month notice on or before the 3rd of the month. At this stage I have no idea if all enquiries would be back before 3rd May in order for us to give notice then to move in June. We have a somewhat fractious relationship with our landlady (she is shit!) but we’ve been good tenants and I don’t think she has any complaints with us. I’m wondering if I just say to her that we are at this stage and would she be a bit flexible with dates? Obviously I won’t expect less than one month notice but if we miss the deadline for May I could ask her if she’d agree to not having to wait another 4 weeks (if that makes sense!)?

Keeping everything crossed for an exchange later on WB.

Thanks for the words of wisdom Sandy. I feel quite intimidated by what is ahead of us. I really love the house we've offered on so desperately want it all to work, plus we have the school application deadline to factor in.

I'd say you might as well ask fleabag. If she says no then you may have to hold off and have a longer overlap than you'd like, but perhaps she'll say yes.

@WBWIFE
Heard from my buyer, that all paperwork is now at her solicitors, new mortgage offer etc, nothing else to do
Just wait🙄

@Fleabag123 in your shoes I would not even tell her you were buying.
We made that mistake and our landlady (who is usually decent) has given us 2 months notice and is being completely inflexible.
If you can wait to give notice until you exchange you could negotiate a month before completion?
I wouldn't give notice until exchange had happened - there are too many variables involved.

We have had another offer, 15k more than the previous offer. A flat identical to ours sold for £425k last year, and we were hoping to get the same, or at least £415k. The latest offer is £405k. After 30 viewings I am fed up and quite willing to go for it., DH wanted a bit more. The buyer is a FTB and has finances in place but this is his final and best offer. Have to decide today -watch!

Haha autocorrect changed my 'aargh' into 'watch'

@dimmu - tricky one. I'd be inclined to accept. I don't think you can go by what things sold for last year, you have to look at the most recent sales. It's tempting to fixate on a price for yours but the issue is how much you'll spend to get your next property. There may be a deal to be struck on that.

DH took some persuading to accept a lower offer than we'd hoped for but in the end we negotiated a good deal on our purchase.

@sandybayley It's so tricky.. I really want to go for this offer, I just can't deal with another 20 viewings and the constant cleaning. The EA said we can accept and keep the property on the market until the buyer has committed financially ie. booked a mortgage valuation or something.
We are relocating and are gonna rent to begin with. DH is worried we are selling when the prices are low and they will go up again by the time we are ready to buy, but hopefully we would only rent for 6 months-1 year and buy a house whilst in the rental.

@Smart123 hopefully not long for you now

@dimmu I wouldn't accept the offer if its first, I would probably try and get even a little more! First offers are rarely ever final offers

dimmu this is the same kind of drop we've had to absorb, just to get the house sold. We wanted £325, but were prepared to accept £315. Ended up reducing and accepted £306. Can you take more of a hit financially? While it's easy to fixate on a 'value', it's only worth what someone is prepared to buy it for.

If you accept that offer, it means you're in a great position to snap up your next place. If you hold out for more, you may not get any offers.

Good luck!

dimmu, could you counter it with a 'make it £410 and it's yours' offer?

@TiddleTaddletat - ok thanks - my instinct has been not to say anything as I don’t 100% trust her not to serve us notice. The flat was empty for a while before we moved in and she didn’t seem in a hurry to get tenants but that was 4 yrs ago and I have no idea what situation she is in now.

I hope we’ll have clarity about a timeline soon so I’ll hang on for now.

Waiting on one enquiry.

Conservatory built without land owners permission who must have been dead a good 50 years now..

Indemnity needed to satisfy our lender, waiting to hear back if our vendor will pay it. Otherwise we may have to.

Fingers crossed they do as it's their responsibility as seller to do! Once that's sorted we should be all good to exchange!

Thanks everyone. It's their second offer, they offered £390k to begin with. We have had two other offers, both £375k, and one silly offer of £330k. The buyer says It's their final offer. Think we will accept but keep the property on the market for another week or so.
DH isn't pleased, but we have been on the market for 8 weeks and have had some 30 odd viewings. I am worried we will end up waiting another few weeks and emd up with a lower offer if we reject this one.

@dimmu in that case I would most definitely take the offer