Sellers/Buyers Roll Call 8 and still going

[Fern204]

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!

@Fern204 Fingers crossed for you!

We've had our first viewing this morning, all went very well. About 30 mins after they left there was a knock on the door and it was them asking if they could show another family member. We were the first people to view previously and we offered straight away so we are hopeful that it won't take long to sell.

It feels like our process is going a bit too smoothly and it makes me worry that something is going to come and ruin it all.

@Fern204 and @Cluckycluck thanks so much. If anything, I would hope mine and Fern's situation is by far from the norm and we're only coming on here to find solace. It is nice to read the more seemingly normal situations. There has to be hope.
Spoke to our solicitor this morning, they are hoping for exchange either back end of this week or definitely next week. What a day that will be.
Fern - keep us updated on how it goes this afternoon.

So our buyer's solicitors are properly instructed and ordering searches this pm. Our exchange deadline is next Friday, which obviously won't happen. We've already had a 2 week extension.

They are threatening to remarket if not exchanged by next Friday, I'm praying it's a threat to get the other side moving, I'm really hoping they wouldn't actually rather start from scratch with someone else when we are ready to exchange and our buyer has his mortgage offer, it's just his conveyancing to do, surely remarketing and starting from scratch will take longer. But I'm worried we have a lot of great incentives (including getting our stamp duty saving back to us as cash back) and I'm worried they might see it as an opportunity to save money. God I hate this process so much.

so the survey took place yesterday and haven't heard any more. So hoping that means it is all ok and we can progress! Am i bit worried as my tenant says there is a funny smell coming from next door so worried that may count against my value (though think that is being a little paranoid).

Just worried they're gonna try and get some money off and I am already below my floor (selling it at 18k less than a boight it for 4 year ago)

I’ve been annoying my broker with emails but still none the wiser, survey supposedly took place last Friday but nothing updated on the lender’s tracker which also marks the underwriting as pending further information required, the broker says they’ve sent all information to the lender on the 10th. I’ve asked broker to chase lender and query but she’s gone silent today.

Hopefully the EICR went ahead today and report should come through in a few days 🤞🏻

Can I join? Sstc and had offer accepted on one I wanted Monday. My buyer is FTB and the property I have had offer accepted on has two properties in mind. This is going to be a LOOONG wait I think. I've done all I can. Instructed my solicitor and booked a homebuyers survey. God knows how long this will all take. Will watch with interest how we all progress. What's the longest time a chain has taken from offer to compleion?

The viewing at our house went positively today apparently, they have another house to see tomorrow but EA said they really liked ours. Praying that actually materialises into something and not just getting my hopes up over nothing! We're booked to see three houses this week. I'm so impatient I just want things to be moving quickly as it's causing such mental load and taking up all of my thoughts at the moment.

@Baldatbirth yes to the stewing. We are where you are at the moment. Solicitor instructed. Our buyers have had their survey of our house. We sent off the f&f and property info to solicitor to send off the draft contract to them. Our solicitor has received the sale details from our vendor.

It has been quiet for a few days now. We plan to have a building survey so collecting quotes at the moment. We don't know when we can request it though, maybe after mortgage application?

@Pepperwand I can relate. It is all consuming and takes over all your waking thoughts and even steals sleep. I have only started to sleep better in the last couple of days as things are starting to slow down. Full mortgage application on Thursday morning so I can imagine that I won't be able to sleep tomorrow night.

@Notyetthere and @Baldatbirth sounds like we’re on pretty similar time frames - at a similar stage here although mortgage application done and decision due this week so we’re a bit further ahead there. Can relate to the stewing - this waiting is horrible! I’ve not packed a single thing as it feels like tempting fate this early in the process!
Bald - interesting to hear that some people think end of August/September! My cousin is buying in the same situation as me just now (FTB buying theirs, they’re buying an empty house) and he wants to be in by August 28th for school starting. My conveyancers are currently estimating 22/09-06/10 but that’s just a generic ‘12 weeks’ timeframe I think and we should be quite straightforward so I’m hoping it’s quicker.

I chased the sellers via their estate agent today; he said they’d chased their solicitor and were keen to get the sale through ASAP, which was reassuring - we’ve had absolutely nothing through from them so I was under the impression they weren’t that fussed, but hopefully this will get things in motion.

@Pepperwand yes to the mental load! It’s taking up so much brain space just now, hard to switch off from it all. Fingers crossed for your viewings - current and potential next houses.

@kerrymucklowe2020 welcome & don’t ask how long the longest it might take is - the answers will depress you! There’s a couple of people on here who have both been on the market since May 2019 & had various chains fall through in that time 😫 however it can take like 8 weeks all in if everything moves quickly so take heart from that!

Invoiced for the EICR this morning so that happened 👍🏻 eager to see the report now, shouldn’t be a deal breaker just need to know if rewiring needs to be done before we move in or not for safety

Thanks for the welcome!
Paper - fingers crossed you get an offer soon - how long have you been on the market?
Lemon - just had to Google EICR! Was wondering if I needed one but it's for rentals only isn't it?.
Four- how many are in your chain?
Bells - is it common practice to hear back from surveyors?.- if so how long after the visit do you know?

Rentals require an EICR, but anyone can get one, our full building survey highlighted issues with the electrics that are potentially unsafe & May require partial re-wiring so we got an EICR so we know the state of what we’re buying and what we need to do when. From what I’ve learned about electrics in the past few weeks, if you’re buying an older property and the vendor doesn’t know when the electrics were updated or doesn’t have installation certificates from when it was done, then an EICR would not be a bad idea.

I’m wondering if the report does say that there is unsafe wiring whether we need to/should tell the vendor or not. They’re still living there and I wouldn’t move in until it was rectified if the report indicates a significant fire risk.

@Lemonylemony, I submitted all the mortgage paperwork to my broker (payslips etc) on 23 June. It wasn't until yesterday, 21 July that I have just heard it's all gone through, now waiting on paperwork from the bank. It was back and forth all that time - wanting my June payslip, then dropping the amount they'd lend me by 1k. They didn't even go to the property! Did an online valuation. New world I guess.
I was going to wait until the draft contract had come through before I applied, so pleased I didn't now.

I wouldn’t mind back and forth so much if the bloody broker would just reply to emails and answer the actual questions I’m asking when she does bother to!

@lemonylemony

I'd tell them, just so my conscience was clear tbh

I’m a bit confused as to what to expect/ what’s coming next.

I’ve dropped off all the paperwork to the solicitors that she’s asked for (fixtures and fittings etc). The bank are arranging to go value the property we want to buy in the next few weeks. But what should I expect next? I assume someone will come here to value our house from our buyers bank (or maybe it will be online/kerbside?). When should I get removal companies round to quote - am I being too premature?

@kerrymucklowe2020 don't think it's common practice to hear back from the other side's mortgage surveyors. the only exception - which is the one I was concerned about - is if they say they won't give the mortgage amount asked because the property isn't worth that and buyers come back trying to knock you down in price.

Given they're buying as a BTL i'd be very surprised if they didn't have at least a 25% deposit plus they have had £5k knocked off their final bill thanks to the stamp duty changes so hopefully they won't try that

I’m naturally inclined to tell them too, just worried they’ll think we’re trying to haggle on price (we’re not) or selfishly that it will delay things somehow. They’ve lived there 30 years without thinking to update the electrics or check that they’re safe though!

Fingers crossed it’s just old not unsafe though 🤞🏻

They dropped it by 1k Pavo?! That’s so weird! Did they say why?? It’s one thing I’m worried about my bank doing. 1k would be fine, 10k would be not.

Afternoon all, everyone still sane? 😆 our friend at the estate agents has just emailed to say our buyers solicitor has issued the draft contract to ours, so that’s good news. HomeBuyers report any day now. Money paid to get searches under way... ticking along ok so far. Keep going everyone!

@Simonsaysitschristmas I’m not sure when to go about asking removal firms etc either. I haven’t packed a single thing either. I just don’t want to tempt fate at all. As far as I know both the valuations on the flat we are selling and the house we are buying have been done in-house? No one has told me otherwise anyway!

@ChristmasTree999 I’m the same with tempting fate. We’re very early on (been Sold STC less than a week) so I know lots can still go wrong.

I’ve seen quite a few people mention the valuations have been done online but our bank definitely made it sound like they will be going to see the house. I’m just no good at waiting. I feel like I need to be doing something/contributing rather than sat around waiting for emails (and I have no idea what emails I should be expecting )

It’s the not-knowing what’s going on behind the scenes isn’t it. I feel slightly on edge all the time. I’m just trying to do one small action each day to stop myself going crazy.. send an email, get a quote for something, find a piece of paperwork etc. I think it helps lol

@ChristmasTree999 @Simonsaysitschristmas - I completely agree with you both - I keep thinking I should be doing more! I've sent emails to everyone today to see where we're at - draft contracts have been sent on both sides. The nervous bit is waiting for the buyers mortgage valuation as it's been a week now! We have the home buyers survey tomorrow, and as it is an old victorian house I'm expecting some issues..

So I am no-where near packing - not even daring to declutter till surveys are done and dusted! The anxiety is killing me!

@ChristmasTree999 @Simonsaysitschristmas and @Maybenexttime08

I know the feeling. it's been a month now. I submitted all the paperwork three weeks ago and haven't really done anything since. We aren't buying at the moment just selling so there is nothing for me to do but sit and wait. I know they had the mortgage valuation on Monday and my solicitors have sent over the paperwork to theirs either on Friday or Monday (was waiting for their solicitor to confirm they were representing) but beyond that I know very little and don't want to keep driving my estate agents or the solicitor mad.

I'm just here twiddling my thumbs - it's tenanted (being sold in situ) so at least i am still getting money in my pocket.

The whole process is just painfully slow