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Sellers/Buyers Roll Call 8 and still going

889 replies

Fern204 · 26/06/2020 14:59

Hope it's ok to start a new thread.
Bottom of our chain should exchange on Monday and then the top will hopefully exchange a week later. I dont quite understand, something to do with a charge on our buyers house which needs to be released first.
Aiming to complete on 15th July, so hopefully not much longer.
I will never move again, and definitely not in a chain of 10!

OP posts:
Notyetthere · 06/07/2020 08:51

@Kelsoooo thank you!

@FourForYouGlenCoco yes I ought to start sorting through the paperwork for this house. We had new windows, new roof and electrics done so I really ought to prepare the certificates for these for when our future buyer's solicitor asks for them.

@Lemonylemony whatever you do, don't contact the council! If your vendors do agree to get an indemnity policy then you contacting the council will invalidate it.

On our end, it looks like the viewings on Saturday went very well. The EA called me so many times on Friday that on the 6th phone call I told them I would make myself and DD scarce on Saturday and they could fit viewings in as and when they see fit. It then became an impromptu open day, hence the 13 viewings.

We didn't receive a phone call at the end of the day on Saturday so we were none the wiser as to how any of the viewings went. That is until yesterday afternoon. We were restless so we took DD to the park and on our return, we found a couple lingering just off the end of our drive. They didn't say anything to us but we knew they had been looking at the house . We saw several cars park up and people giving the whole house a good looking at. Seems to be that drive bys have become stop bys. We then found a bunch of flowers on our doorstep and a letter posted through letter box. We thought it was the lingering couple but on checking Facebook it looks like it was a different couple altogether that delivered the flowers/letter. This could be outing; the letter mentioned them being one of the 1st viewers and that they offered full asking price and that they are aware of another 2 offers. I hope EA wasn't lying to them. The letter stated their very good position and why their family would be very happy in this house.

Obviously DH and I are shocked by all of this but then I should have expected it. I remember when we saw this house the first time, I too loved it and wanted to buy it. I remember PIL and I knocking at the door and begged hounded the vendors to allow us a viewing. They didn't allow it and but spoke to EA who knew us from previous viewings and recommended them to show us round as we were 'keen buyers'. We viewed later that same day and offered immediately but were declined. It was on for a range which on the following Monday we negotiated until we offered just enough to be accepted and cancelled the open day in a week's time. So I fully understand where this letter is coming from. I was the same. Our area is quite expensive but our house being ex-council with decent sized rooms and on a corner plot, you get a lot more space and land around you for a lower price. I bet if our house was even just 600m away on the non-council end of the estate it would cost £150k more which many of us can’t afford.

Waiting for the EA phone call sometime this morning to give us an update on how the viewings went. We are in two minds whether to mention the letter and flowers or not to EA. Maybe wait for their update and then tell them what we know afterwards.

Katkincake · 06/07/2020 08:55

Just spotted it in various papers - it’s in them all. Something will be announced as that’s how this Govt operates, seed hints to press, see what public reaction is & adjust announcement if it’s unfavourable.

Presume this means our sale stalling until autumn if they want to avoid paying SD? I guess that’s fine if their buyer isn’t in a hurry or won’t lose their mortgage?

Puts pressure on us to find and buy something in the “holiday” window though. Not sure how a 6month write off will work, surely it’ll condense transactions into that time and make the market crazier than it currently is?

Katkincake · 06/07/2020 08:58

Wow @Notyetthere that sounds really promising - fingers crossed you get a bit of competition and hope the flower couple get it.

tigerbear · 06/07/2020 09:08

Morning all.

We only had one viewing of my house on Saturday through the agent - she reckoned that although they were still busy, this Saturday had been marginally quieter, as everyone was out going to cafes, pubs, getting hair cut etc.
She did say that they’ve had their busiest June on record, with many offers being made, but that the banks are stalling everything by being overly cautious when it comes to lending.
In a bit of good news, she said that our original buyers have now gone to the ONLY other lender in the UK offering mortgages to people with 10% deposits, Bank of Ireland.
They’re getting valuation booked in ASAP, but I’m just scared that the same thing will happen again (that the surveyor will see the build of the house as a risk, and decline it).

Randomly, just after that viewing with the agent, I noticed another couple wandering around outside, who then knocked on the door and explained that they’d just viewed another house in our street, and when they’d been looking around outside, one of our neighbours had told them ours is on market too, and to take a look!
Nice couple, but I’ve not heard back from them, after then emailing them the break down of monthly bills which they asked for.

@bellyislikejelly I just read the article on stamp duty. Very exciting for many, but no use to me, when 2 bed flats round here go for over £550k ☹️

tigerbear · 06/07/2020 09:15

@Karcheer none of it makes sense! Surely if I’ve paid the mortgage on time every year for over 6 years, I shouldn’t need affordability checks?!

Lemonylemony · 06/07/2020 09:21

whatever you do, don't contact the council! If your vendors do agree to get an indemnity policy then you contacting the council will invalidate it.

I read this! Seems a bit arse about face. But I think the solicitor can get round it asking for “any and all” building regs/planning permission records held, not mentioning specific works.
Anyway, won’t tug too hard on that thread.

Karcheer · 06/07/2020 10:14

@tigerbear the whole thing is bonkers tbh... last time we remortgaged I put my job on the form which was a minimum wage reception job, I was in the middle of my three month probation. We are lucky due to previous homes that our mortgage isn’t huge so my husbands salary more than covers it.
They were obsessed with my job, asking what would happen if I didn’t pass probation, details of the company as it was privately owned etc... it was beyond a joke... they didn’t ask one question about DHs...

notheragain4 · 06/07/2020 10:48

So we have had our rented property info through, have to move on 5/8/20 which is going to be a pain in the arse as there is no way we can complete in 4 weeks, so going to have 2 houses to pay for but don't want to risk losing this house! Thankfully they're not too expensive but not great.

Bells3032 · 06/07/2020 13:50

Had a consult with a mortgage broker and was told given our circs we could easily get a 5x salary mortgage. Also suggested a part and part mortgage which would bring down our payments to about half for the next 5 years (as we are looking to start a family soon this would be super useful).

However, now worried by this announcement of a poss stamp duty cut in the autumn and whether it will make our buyers stall or pull out of buying my flat til the autumn which would mean we couldn't buy til the new year probably.

Glad the two aren't chained up...i think i would be going nuts

Maybenexttime08 · 06/07/2020 14:23

Just received an offer on our house!

I am smiling ear to ear - we lost our buyer a couple of weeks ago and thought that it was going to be doom and gloom but we had a fantastic call from the estate agent this morning.

I'm dancing on air - even if it only lasts a few days! ha ha

Karcheer · 06/07/2020 14:33

So...im exhausted anyone else?

Ive had my dining room table and cabinet taken away this morning.
Packed up ensuite bathroom apart from essentials.

Have now agreed exchange/completion of the 15th with my buyer hope me seller is happy with that.

And asked for some other report about mining - so should help with the concern over it potentially ever being on wobbly land.
DH called for quote for home insurance.
Changed removal men date.
Now need to call cattery and change that date...

@Maybenexttime08 - congratulations - now the real stress starts!

@Bells3032- I wonder was issue the stamp duty thing will cause in the short time, i wish when they announce these things they would just do them straight away. Now everyone who was thinking of moving (right move seems to have gone crazy), will stop and wait till the Autumn...

Maybenexttime08 · 06/07/2020 14:43

@Karcheer - yes I'm enjoying these few hours before the stress starts, and having lost one buyer, I'm keeping everything crossed!

Congratulations on getting a date - it's my b'day so definitely a good day!

Maybenexttime08 · 06/07/2020 15:19

I'm just reading about this stamp duty holiday - does anyone know when it would kick in??

Bells3032 · 06/07/2020 15:44

@Maybenexttime08 they're saying October. but a lot of backlash saying it'll put the market into deep freeze until then if they do

Maybenexttime08 · 06/07/2020 15:54

@Bells3032 - yes, it doesn't make sense to wait - and it would save me a fair bit!

Bells3032 · 06/07/2020 15:59

@Maybenexttime08 it depends for me if it drops off after £500k or it's a £500k threshhold before you start paying it. If the former won't have any effect but the later could save me £15k. but if it's six months from now i doubt we'd complete before dec as don't want to look til October.

So for me i'd like to start now for a year. Six months isn't a lot considering it can easily take that for a sale to go through

Katkincake · 06/07/2020 16:01

DH just spoke to our agents as buyers survey just back, worried he’d haggle loads off, but have settled on £1.1k for new decking which is a teeny amount off sale price so pleased with that.

Anyway agent reckoned they’d have to bring SD freeze in ASAP to avoid complete stagnation of the market, let’s hope so for all our sakes. Might also mean some of the just over £500k homes we like but can’t justify spending the extra £10-20k on might bring them under to sell - thought would no doubt find ourselves paying £5k for carpet and curtains!! Grin

tigerbear · 06/07/2020 16:05

@Karcheer it’s crazy! 😬
I’m now chasing my accountant for the info needed, but he’s snowed under right now.

@Maybenexttime08 congrats! That time just after getting a good offer is so exciting!

Bells3032 · 06/07/2020 16:07

I also don't know if it will apply to BTL as my buyers are btl and don't know if they will now stall

Maybenexttime08 · 06/07/2020 16:13

I presume the stamp duty holiday will be valid depending on the day you exchange or complete? Rather than day of being under offer?

I'm useless at this stuff!

notheragain4 · 06/07/2020 16:14

We exchange in August but complete in November wonder where that would leave us?

Bells3032 · 06/07/2020 16:16

Completion date

Karcheer · 06/07/2020 16:20

Definitely completion date as it's tax on the money your spending.

Does anyone have a list of things you need to do when you move that includes things like... update driving license, update bank, change Dr, Postal redirect etc... Care to share?

Maybenexttime08 · 06/07/2020 16:23

@Bells3032 & @Karcheer - thank both, I thought so - let's hope they bring it in sooner than later!

notheragain4 · 06/07/2020 16:45

Hmm that's interesting, developer have technically agreed to pay it (all documented) wonder if I can get our cash back increased.

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