Sellers/Buyers Roll Call 7

[MrBobLobLaw]

Stressed vendors and buyers alike: assemble here to moan about bloody solicitors!

Feel free to join at any point

I meant the % is similar.

I think we are just going to have to take the hit... I have convinced my partner.

I would accept that (and fully expect my buyers to do the same). It’s worth the peace of mind of actually selling, and we have no idea what’s going to happen next with property. We might be in a worse position in a few months...

Joining here. We are mid chain. Selling owing to separation....sale of current property due to complete a week tomorrow. Ex's onward win complete on same day. My onward is in the process of trying to haggle with their vendor...I'm really worried my purchase will fall apart. And let's not even mention the issue of where the hell I will live after next friday!

If our buyers suddenly ask for a 4% reduction we are both royally fucked!

@whathewhatnow

I really hope you have somewhere you can go if things don’t go to plan x Is there any chance of passing the reduction up the chain if this does happen? It sounds like your seller might have some wiggle room if they are negotiating with their seller.

Ivr somewhere to go for 2 to 3 weeks. After that it I've had lots of offers from friends but most of them have someone with a health risk in their household so it'll be airbnb for me!

And thanks, Lemonade!

We got about 8% off and will exchange on Monday. We were about to pull out and rend for another year. But our seller agreed with 100k less, so we will have our home very soon. I guess depends on the area, in the area we are buying, lost of property back to market with about 10% off, so seller didn't have much options

I hope it doesn’t come to that, good luck x

@KatyRyan £100k sounds a lot, do you know if they are getting that off the property they are buying?

@Karcheer I guess they did, as they came back to us with Yes only half hour after we email EA. Fells like they are expecting it.
But we never confirm it, all we know is, they are buying a more expensive house

It’s completed! In the end it took a month and a half longer than we wanted but in the grand scheme of things that’s fine (particularly with lockdown!). Apparently our buyers are really excited to move in so we’re very happy. We’re ready to go with our onward purchase as soon as restrictions are lifted (sold in England, buying in Scotland).

Hope others have good news soon too!

That's great mumof. How exciting!

I just heard first thing this morning that my buyer is not proceeding. Back to square one! I accepted this offer back in December.

Oh no! That's awful!

We were just days away from exchanging before lockdown. I’m very cross about it all. No attempt at a reduction. FTBs were supposed to be a good bet for selling to. Too nervous now?

Oh I’m so sorry - that is shit!

@teaandajammydodger that is crap. I hope you find another buyer.

@teaandajammydodger Gaaaah that's shit! Would you consider getting in touch with a reduced offer?

Will try and link to an article that features Phil Spencer advising buyers against asking for reductions but advising them to pull out and see if seller counters with reduction!!

www.msn.com/en-gb/lifestyle/home-and-garden/should-i-buy-a-house-in-lockdown-phil-spencer-shares-honest-property-advice/ar-BB14sDG4?li=AABN2Qe

We were set to exchange however our seller pulled out Monday morning after waiting since January.

The estate agent had only called us 2 days before to advise the chain was set + update from solicitor confirmed the same.

Thankfully no money had been transferred however we have of course lost the solicitors fee.

Our landlord luckily has been very unstanding + has agreed to let us stay on.

We had 2 weeks of annual leave booked - first week we packed then 2nd week we unpacked.
Our furniture that we were not taking was given away so we are living out of the spare room floor.

We also have viewed 5 this week which none of them were right.
Checking Rightmove + Zoopla everyday for new listings but so far so shit.

@teaandajammydodger, oh no! I'm really sorry. Keeping everything crossed that you find a new buyer quickly, or as MissLemon has mentioned, they're just playing games and perhaps you can come to an arrangement...

We sold in November and I'm permanently on edge! We keep getting told that we're almost there, but then another documentary needs completing by x link....and another.....and another I'd rather they'd just be straight with us and not try and keep us sweet.

I don’t think they are playing games based on the estate agent’s reaction about it all!

*document

Can I join we had our offer accepted in March, applied for our mortgage just before lockdown, then they realised the can't do a paper valuation because the house has been in the same family since 1936 and it's a private sale so no agents details! We got our approval subject to valuation as LTV is only 35%. now lockdown has eased we are in a queue for a surveyor. Today we get a call from the vendor saying one of them had been admitted to hospital for emergency surgery and can't drive fore 8 weeks so they have no idea when we can complete as they can't get both cars/van to new house. We may have to wait until the 8 weeks is up! I'm on the verge of a nervous breakdown.