Sellers/Buyers Roll Call No 6

[Violetroselily]

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@Paranormalbouquet oh dear. What are your next steps?

@MeMeMeYou oh that's tricky. If you really love the house and no current issues, might still be worth going for it on balance? But might prove difficult to sell when you want to move on.

@AlmaMartyr how did today go?

@MrBobLobLaw saw from other thread you're due around the same time as me it all feels very surreal now, just started mat leave.

@Preggosaurus9 house is on the market now so that's a relief! Hopefully someone will be interested.

We went back to see the house that needs a lot of work and think it's just too much work. The kids hated it too! We're still in love with another one, an upside down barn conversion so hoping we can get that. We just need an offer on ours first.

Mortgage application does sound grim! I had forgotten about all of that misery. Congrats on having done it though! One step closer!

@Preggosaurus9 when are you due? Yes we are not ruling out proceeding but need to know if we even can as not sure our mortgage lender will be ok with it now. And we wonder how much this effects resale it’s hard to out a figure on how much it reduced the value, how much it’ll put people off. Glad you got your mortgage application done even if it was a grilling!

@AlmaMartyr yay for being on the market and fingers crossed for some interest soon so you can turn your offer in the barn conversion.

Wow this thread has moved along. I didn't think I'd been away that long.

@Kyriesmum1 Congratulations on completing. I hope you are very happy in your new home.

@AlmaMartyr we've got to remove a lot of wallpaper in ours but I can't wait to see the transformation. Ours is a 1930s house. I hope you sell quickly.

@Since2016 you've just reminded me that I need to sort out my contents and building insurance. I've sorted the water, gas, electric and sky so far. 
@gingerninja99 good luck with the packing. I had already done a lot from our last sale that fell through but it feels never ending.

@Blobby10 yay congratulations on completing. I hope the move has gone well. Selling is the most torturous process for us this time around as DH works with our buyer. We planned on cleaning anyway but I'm worried if anything is out of place that she will moan to DH about it. 

@Preggosaurus9 So sad I do hope it's a nice easy process for you and probate isn't too long. We recently sold MILS house and probate took 12 weeks.

@Hawkmoth Hope you hear something and get somewhere soon.

@Violetroselily I have everything crossed

@ClubSandwich our fixed rate ended in June. We should have been fine if our buyer hadn't pulled out. Unfortunately we've had 4 months of ridiculously high interest rates.

@dimmu wow that's quick. I hope it continues to go so well. Our searches took 3 weeks. I still can't believe the bottom of our chain didn't realise the searches hadn't been done but luckily it was a 2 week turn around after being marked as urgent.

@Paranormalbouquet oh no. 15% under is a lot.
That's rubbish. We didn't even bother to get a structural engineer in on the house we are buying as vendor wouldn't budge on price. But we really, really want this house and plan on doing a loft conversion so thought we will just take the hit and get the falling chimney looked at at the same time as loft.

@MeMeMeYou the house we are buying showed previous movement on the mortgage valuation, although mortgage still approved. Surveyor picked up the movement as a falling chimney. We are going into a 1930s house with a cellar. DH is a builder and said that this type of house often suffer with subsidence as built on clay. We know it may become a bit of a money pit but it's also our forever home so we won't be worried about resale. Ours didn't show subsidence but I think it would have been a deal breaker for me. DH wouldn't have been so bothered. I'm the worried.
Is the subsidence picked up as ongoing or just previous though?

@MrBobLobLaw the surveyor will need access to the property. You don't need to be there. Usually the surveyor calls the EA direct and books a convenient time with the vendor.

So we have booked our removals van. We have been promised exchange will happen on Tuesday latest by the EA. The searches from FTB are back and it's just a few enquiries that need to be answered. We and our vendors are ready to go, everything is done for us. Completion due for Friday. It had better happen as I've paid for my removal van having been hounded by EA to get one booked. I had to go with the same company buyer is using. The removals company have been told we will be the last out by the EA and to get our buyers sorted first as apparently we can be waiting until 4pm or later to get into the house we are buying. Is that right? I've sold a load of furniture and packed almost everything so I will be so mad if it all goes wrong this week.

Hello,

Our house has now been on the market for a month, on Rightmove for a week. We’ve had about six viewings. The last week has been quiet we had a viewing cancelled and nothing pencilled in for this week yet. The agent said they think everything is coming to a halt until the end of the month.

How’s everyone else found this week?

Beautician I hope it all goes smoothly. It is a lot of money and a lot of potential problems not least because as a leaseholder we would have minimal control over the charges the freehold could levy to do such repairs. Or indeed freeholder could refuse to do necessary work causing further issues. I’m trying to see it as a business transaction not a matter of the heart but I’m pretty sure our vendors need the agreed price in order to move (although equally it’s a falling market and presume any other potential buyers would have the same issues.

Ours is being marketed as mint condition, newly renovated- not as a project in any way. So paying close to asking was on the understanding that we weren’t going to have to do anything bar some redecorating on moving in. So this is obviously a curveball!

Prego the extra costs do mount up don’t they! This is our second attempted purchase this year (first vendor pulled out right before exchange frustratingly). I’m so upset that there’s a good chance we might need to walk away this time.

I NEED to be part of this thread! My house has been on the market for six weeks and my husband has banned me from talking about why it hasn't sold because apparently that's ALL I talk about.

@Karcheer We're on with two agents. Had 11 viewings in total but only one this week. Both agents tell us they're still really busy (just not busy selling my house).

Preggosarus I think I was able to add the arrangement fee to the mortgage so I didn't have to stump up another £1k!

Spent the last four days post move out feeling absolutely rubbish with a very heavy cold! Not able to do any of the bike rides I'd planned for the weekend and looking doubtful for the walking trips later this week .

Anyway, now the horror of my particular sale process is abating somewhat, I hope that the rest of you get some progress sooner rather than later

@BeauticianNotMagician81 hope it goes well! Fingers crossed for completion on Friday!

@monkeysocks38 hope you get some more viewings soon, it can be nail-biting. I'm constantly talking about house moving atm, it makes me very boring.

We had our first viewing today and two more booked for the week. We've already had an offer so DH is negotiating with the estate agents at the moment. Wasn't expecting that! It's not what we were hoping for but very close.

Hi all, hope you don't mind me joining..

@Monkeysocks38 I can totally relate. We've been on the market for a month, about 10 viewings in total but no offers. My DH has also banned me from talking about why we aren't selling but it's driving me mad!

@Karcheer we haven't had any viewings in the last week either. Our agent says things have slowed slightly but they are still confident we will sell.

Nice to see there have been some happy endings on here so fingers crossed for everyone else.

We were able to add the mortgage fee to the loan without altering the loan to value.

It’s all looking on track here to complete in seven weeks from offer. It was only the second place we viewed so I had worried somewhere better would come up but this far nothing close has been advertised.

Hi All

We had an offer on our house today which we accepted. No chain but now I'm so scared and feel rushed. It's happened so quickly.

What will we need to pay up front if we buy? I'm nervous now that we cant scramble any funds together for searches etc.

Is it just searches and then if we get a new build the deposit?
Has anyone offered on a new build any chance of a lower price?

All we have paid upfront was £100 deposit for the solicitor and £450 to the surveyor.

Everything else except insurance won’t be due till completion.

No news from our buyer yet.

However, I did apply on spec for a higher mortgage on 5-year fixed rate and have been approved today. So, if we ever move we can start building works straight away, which is great news.

I'm so annoyed. We are supposed to be exchanging today to complete Friday but now very unlikely to happen due to an issue with the title plan at the bottom of the chain. Why has this only just been picked up . I was pushed into booking a removal so now I've lost the flipping deposit as EA said we will definitely be moving Friday and I've booked the rest of this week off work to pack. Now I've no idea when we will be moving.

@NoTimeToBeUnwell we had to pay £560 to our solicitor for money on account for searches. The mortgage valuation was £200. Just paid for our homebuyer survey and that was approx £550. We also had to pay for our leaseholder pack on the property we're selling and that was £300!

So I'd budget £1500 before deposit etc to be on the safe side.

Oh god how annoying @BeauticianNotMagician81!! How did this only just get picked up?!
Any chance of exchanging today? Still at least 2 hrs left of the working day!

Don't want to horror story you @BeauticianNotMagician81 but with ours we ended up waiting that late with only three in a chain. I wish we hadn't rushed to be out by 11am as it was a long and agonising wait! We were only second in the chain too. Saying that it does help things when people have moved out or is causes problems for your buyer so I'm not sure about the reasons for prioritising.. surely should do you both at the same speed?

Hi - please can I join? Nervous first time buyer. All appears to be going ok but I just dare to hope it can happen. I wanted to buy for such a long time, I can’t believe it’s happening.

We’re buying a two bed flat. Vendor lives abroad. So there’s no chain either side. Just had our mortgage approved and should be with solicitors. But my solicitors say it will be ten weeks!! I’m so nervous our vendor will get fed up. Is that likely? I’m doing everything I can and communicating via the estate agent as much as I can.

How much is reasonable to check in (hassle!) the solicitors?

@beauticiannotmagician81 how awful. I get so disappointed at various people not being able to do simple things properly (not so much house related) but it is just so surprising and tiring when people don't read things properly or double check.

Our buyers' mortgage company have gone to the valuers. Don't know really what that means but our estate agent assured us it was just a final check and we should be able to exchange next week at the latest. I'm not holding my breath.
7
I did look at some replacement door knobs on ebay though... for the house, not as weapons.

@BeauticianNotMagician81 oh god, what a nightmare. Did anything else happen this afternoon? Do you know how significant the issue is? I so hope this works out for you after the mess you had with your last buyer.

So I have proposed a completion date of next Friday. Need two undertakings from the vendors solicitor before we can exchange (the ground rent is in arrears so they need to clear it ). Really hope they play ball so we can exchange this Friday.

@BeauticianNotMagician81 how frustrating! I can't believe that these things don't get picked up. I hope you manage to get it sorted really quickly!

@GorgeousLadyofWrestling hi! 10 weeks sounds OK to me (I'm not very experienced though) and I think it's OK to hassle solicitors - the first time we bought ours were terrible but we gave them the benefit of the doubt for far too long.

We had our first viewing on Monday and they made an offer before they left. We didn't respond immediately so they upped to asking price by Tuesday morning So we've accepted that obviously and now panicking!

Our first offer on the barn conversion we loved was rejected (fair enough, it was a deliberately low offer). We went back to see it again last night but now we're all having cold feet. I think it's been such a roller-coaster that a viewing yesterday was a mistake because we were in no frame of mind to view. Second viewings are often where you notice the little things right? Nothing major though so I think we're good. It's so different to what we're in now that I am double guessing myself.

@NoTimeToBeUnwell we had to pay £375 up front to our solicitors, a £200 valuation fee for our mortgage and then £500 for our survey. Stamp duty, the rest of solicitors fees, estate agents fees and our deposit all come out on completion.

@MrBobLobLaw we didn't exchange. I want to cry. Well I have cried 

@MinnieMouseMaze To be honest with the way our luck goes I'm sure we will probably be waiting until late to get into our house on completion day.

@Hawkmoth it is so frustrating. Especially when our buyer kept asking the solicitor constantly over the past two weeks if everything was definitely done as they really needed to complete on Friday.
Fingers crossed for you for exchange next week.

@Violetroselily we had a phone call late yesterday from EA saying completion definitely off for Friday. We've got to wait for the indemnity to be checked by the bottom of chains mortgage lender. This usually takes up to two weeks but they are going to try and fast track it. Although no guarantees. EA are aiming to get us exchanged on Friday and completion next week. I give up.

@AlmaMartyr thank you. Wow well done on getting such a quick offer. You have only just sold so maybe take some time. I think if you get that instant 'feeling' and it doesn't fade when you do a second viewing and notice all the little things then it's right for you. We are buying a house with a falling chimney, anaglypta wallpaper and a lot of work ahead but we love the house and it just feels right.

@BeauticianNotMagician81 Thank you. It's just so tiring isn't it?

Regarding mortgages, I've not had to pay for anything so far. Buying in Scotland, they can just use the home report and take information from that for their valuations.