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

@dimmu - it’s so hard isn’t it? Whats happening in you area - is there much coming up? I wonder if the Brexit delay will mean more people go to market where they were waiting before.

I agree maybe counter their offer with 410k and see what they say

Thanks again everyone.

We decided to accept. DH is not happy but we are in London zone 2 and the market here is very slow and difficult. Also we want to move out of London during the summer holidays so that DC1 can start in a new school in September so really should get on with it

I feel relieved now, DH is grumpy lol.

Hello! I'm back again

So our rental property is going through well (first time buyers).

Our main house. We've had a good offer on it, but they haven't sold their house yet. However, they offered on the doorstep when they viewed it and genuinely loved it (parents live on the same round).

We then had a viewing booked today to people who have sold to first time buyers. However, they just cancelled the viewing. It's pathetic but I could cry!

Dimmu remind your dh that a bird in hand is worth two in the bush. I think with 30 viewings and offers from 330-375, I'd snap off the hand of the one offering £405, particularly if they're proceedable/end of chain. Be aware they may pull out or put offers in on other places if you keep it on the market. It's a buyers market in Zone 2 I think.

Smart123 and WBWIFE best of luck for exchange!

Thank you @mrspatmore

No news here 🙁 don't think it will be this week, but nobody seems to know why

@dimmu - your DH may be grumpy (as is mine on a regular basis!) but prices in London are falling.

Latest stats out today from ONS suggest a 3.8% drop in the 12 months to Feb 2019. As @MrsPatmore says a bird in the hand is a good thing. If you hold out you might end with a lower offer or no offer at all - prices in London aren't going to rise anytime soon.

@dimmu our flat was in outer London and we had to take a drop. Similar flats in 2016/17 were selling for £250-260k, ours sold in the end for just over £230k. Do have pangs of regret about when we chose to sell but in our circumstances we just wanted to move on in our lives as we live in another area of the country where prices are rapidly rising .

@mrspatmore no exchange here yet. Our buyers solicitor decided to send 10 enquiries today!! I replied within minutes and my solicitor confirmed she has sent replies on to their solicitors. We should be able to exchange tomorrow if all is well.

She has signed off our case purchase and sell as all our work is done so just waiting on them now

Oh yikes, just as it seemed to be going so well.

Despite an AIP and passing the credit checks, Natwest have refused to lend the full amount we need. As we're both company directors, we take a small salary and are paid in dividends, but they won't take our full dividends into account and the maximum they'll lend us is £35k short. So, we've had to look at another lender and I feel sick. Our broker has assured us it'll be fine, but o have waited so long for this damned house only for the finances to fall over would be torturous!

Staying calm, staying calm, staying calm...
No, I'm not, am I?

@LeopardPrintKnickers - that's irritating but at least your broker is in the case. I think brokers are worth it when your financial circumstances aren't 'standard'. I'm sure they will find an alternative lender for you.

@WBWIFE - WTF? More enquiries at this late stage. Unbelievable.

Update from us today, our solicitor has finally received the draft contract pack from our vendors' solicitor two weeks after the Memorandum of Sale - and only after I'd chased. Now it's up to DH to speak to our lender and pay for the HB survey on our purchase and he says he's a 'bit busy at work', grrr!

Ah it is so stressful and it's interesting to read as not one of us generally has the same problem! Just a very complex issue specific to a house. No wonder solicitors are so well paid. We've just had the bill for our onward purchase that fell through..

Thanks again everyone . Having slept on it I think you are all absolutely right, in this current climate we are not gonna be receiving any better offers. I have just emailed the EA to remove the flat from the market as long as they believe the buyer genuinely has the finances in place.
OH was a bit less grumpy last night as well. It's not what we hoped for, not even what the EA was hoping for when we first discussed with them, but you are right, if we didn't accept this we would more than likely be left with a lower offer, or no offer at all, and our relocation plans would be in tatters and we'd be stuck in London zone 2 for who knows how long.
Now, on with the next task and let the fun that is the conveyancing process begin!

Good luck again everyone!

@dimmu - good attitude! Make sure you get a good solicitor and be on the case with your sale. We have an excellent solicitor in London (Camden) who I really recommend. Could send you details if you like.

Thanks @sandybayley
Yes please PM me the details of your solicitor. I had one picked already but decided to shop around for more quotes as the EA also recommended a couple.

@dimmu - just sent to you!

@LeopardPrintKnickers not sure if it's much help but we had a similar situation when we went to our then lender Santander they only took salary and dividends taken into consideration and we couldn't borrow what we needed.

We then looked at mortgage companies that take retained profit into consideration when lending . We used Coventry building society in the end so they took both our salaries and split our net profit in half as we are 50/50 directors.

@alifelessordinary - also using Coventry BS. Very efficient and got a great 10 year fix.

Just had a chat with our surveyor. Apparently with the water ingress, active woodworm and broken lintel, the asbestos roof on the garage will need to be replaced. I'm going to try and get a quote before talking to the vendor about price.

The three surprises from today though are:

1. The combi boiler isn't recent, unless you consider 16 years old to be 'recently replaced'
2. We need a full asbestos survey
3. We need the vendors permission to test for rising damp in the lounge as it will mean taking up some parquet

Anyone been here? How did you approach it? What should we do?

Feeling deflated

The combi boiler isn't recent, unless you consider 16 years old to be 'recently replaced

Our regular boiler is about 25 years old (mid 90s) and has just been gas safe checked and it's fine. If it has been regularly serviced I wouldn't be unduly worried.

Should have said it's an oil system. Surveyor considers 10 years to be old for a combi although I don't know if it is just his opinion?

I feel like I can't see the wood for the trees at the moment. I wouldn't be worried about the boiler if there weren't other expensive-sounding concerns elsewhere.

Well as I predicted no exchange...
Drags on at least another fortnight, if we exchange next week that is 🙄
How are things your end @WBWIFE

Smart, I can understand if you don’t want to say but you aren’t in Kent somewhere are you?

@Smart123 no exchange signed off all our end but waiting on our buyers.

They are being stubborn about buying an indemnity insurance for their first time buyers, even though it's the sellers responsibility really. Dickheads.

I'm fuming and my EA manager full on argued with me on the phone as I said it was ridiculous that he hasn't told them that we were all aiming for end of April due to upper chain going into rented..

He said he doesn't see how it would have made a difference, and I sad because they would be more in a rush to do things, we are all waiting on them!!

I am not happy.

We go away 3rd may so qont be moving in now until at least 24 may I think

No I'm not @tulipvase
Its awful @WBwife..
Feel very fed up today..
Everything is done I'm putting it down to lazy solicitors now..

Sympathies @Smart123
I think a lot of people will be feeling disappointed this afternoon, because there will have been a lot of push on solicitor to get exchanges through before the BH weekend.
It can't be long for you now,
Are you calling/emailing your solicitor and the agents every hour?
Unfortunately that's what it took for me - for about the last 2 weeks before exchange. They just wanted to get rid of me!