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!

@notthereyet I meant more a separate one from the valuation which goes into details of the structure and issues with the house rather than its values. personally I'd still prefer an independent one purely because I would feel they have MY interests at heart rather than the banks. But that part is a personal feeling.

@kerrymucklowe2020 link it and I'll hop on, I'm at that stage

@kerrymucklowe2020 I'm happy to join in with the packing and moving stuff and what to do and who to inform. I am painfully still at the top of my very long list that I have printed out and will tick off each time a task is done.

We paid £470 for our HomeBuyers report.
Have heard from the solicitor again this morning after I emailed them a couple of queries. They have reassured me that everything else is in hand, so going to try and switch off from all things moving related this weekend!

Yes I was pleased with the price for the survey! Other quotes were quite a bit more expensive, one cheaper but I didn’t like his smarmy attitude. The one we went with had a very comprehensive example report on his website and I’m very happy with the service he provided.

Like others have said I wanted an independent survey so it is for our benefit, not the bank’s. It has given us a comprehensive to-do list to do up the house over the coming years, we know what will definitely need doing, what can wait as it’s sound etc. The property is 90 years old so I wanted to be thorough. Also our lender didn’t have the option of a full survey anyway, only valuation or homebuyers.

Link here kelsooo and notyetthere
www.mumsnet.com/Talk/property/3976741-Is-there-a-countdown-to-moving-calendar?msgid=98569083#98569083

@Bells3032 and @Lemonylemony I completely agree about getting an independent survey rather than tagging it onto the bank's valuation. We had that option when we did our mortgage application but I didn't feel they would truly have our interests at heart, especially as the mortgage is so low so they will probably do a desktop valuation.

I still don't get it and I might be missing something. Wouldn't the bank's interest also be the same as mine? If they had to repossess (grim but shit happens) then they want the asset to be worth the amount they are lending me and visa versa? We had a home buyers survey completed on this house by again the bank's surveyor 7 years ago and it was a really good report. The surveyor called and asked us what we wanted him to check in particular as part of the survey a few days before. I can't imagine how it would have been different if I had got a separate surveyor.

@notheragain4 it's so anxiety inducing! Where abouts are you in the process?

@Notyetthere sounds like a good move to buy a printer, I just went to print it all at my mum's house and I felt bad as it was a lot of sheets. Also I'm so not used to using my signature on things and suddenly I have about twenty pages to sign.

When we bought our current house we got a homebuyers survey done and when we saw it it scared us with the traffic light system, lots of ambers and some reds. We fixed some of the issues but not everything. In reality a lot of the warning sections aren't necessarily an issue when you live there but I guess they cover their backs in case something happens? I'm worried our FTBs will see it too and freak out a bit like we did.

@Wherewhatwhy we are in week 9 of our sale, buyer has his mortgage, enquiries been answered, waiting for searches to come back. For our purchase we are ready to go, we are buying a new build. We have a rented house ready for us 5/8/20 but we need to postpone as we won't be ready by then (new build isn't ready until winter so breaking the chain into rented). The problem we have is new builds are really strict on deadlines, buyer has been slow and we've missed one deadline, about to miss another. Scared they're going to remarket especially as we be negotiated some really good incentives we wouldn't get again due to stamp duty holiday.

House buying and selling in this country is hideous!!!

Didn’t get a homebuyers survey here but DH is a very experienced builder so well equipped to recognise signs of any major issues!

Nice to see that an AIP isn’t the be all and end all; we didn’t have one and I wished we had but clearly it wouldn’t have made much difference anyway! Was supposed to have an answer re mortgage offer this week but it’s all delayed so now have to wait it out through the weekend and hope it comes through quickly next week - if they reject us it’s going to be sooooo slow getting another one 😫

Another week gone and we’ve still heard jack shit from our sellers’ solicitors; have chased them yet again today via their EA. Going to get grumpy soon - we’ve had not one single bit of paperwork yet; our conveyancers haven’t even started surveys as they haven’t had the necessary bits they need to get them rolling. I don’t know what they’re playing at. It’s not the sellers, apparently they’re keen to get sold ASAP, but clearly they’re going to need to turn the pressure up! Although at the moment it’s all a bit moot as if our mortgage application is declined it’s going to massively delay everything anyway by the looks of things.

Going to try not to think about it this weekend. The stress is real!!

I think selling and buying houses is the worst experience anyone can go through. Our buyers solicitor hasn't done a thing in 9 weeks and to top off a shit week our developer has decided NOT to honour the stamp duty incentive thus pushing up the price of the new build house we are buying. I'm ready to quit. DH just told me every weekend starts with an argument - does this happen to everyone else?

@Poppiesandnettles I agree. Its horrific and this is the second time I'm doing it in 4 years and done it chain free both times, can't imagine how bad this is in a chain.

My family keep going to me why don't I get a little three bed with a small mortgage and move again in 5 years or so (my husband is a. Solicitor very early in his career so salaries are like to increase a lot). I want a 4 bed which means I don't have to move again (although we may do but we won't HAVE to) in five years because I just don't have the patience to do this again in 5 years.

@Poppiesandnettles I'm really sorry to hear that, how far into the selling process are you? What milestones have you hit? That's really crap the developer isn't passing on the incentive to you, so they just get to profit from it

DH just told me every weekend starts with an argument - does this happen to everyone else?

Life is stressful for everyone at the moment with the global situation, and then we decide to go and buy a house as well! I think grumpiness and cranky arguments are par for the course. We had a tiff last night about light switch colours

Hello, can I join please?

We have just got our second buyer. House went on the market the week before lockdown. We accepted the first offer a week after the market reopened, lost them three weeks later due to them not being able to get a mortgage, put back on market, accepted second offer two weeks later(this Tuesday).

We're now in an anxious position as we don't want to lose this buyer. The house is now under offer 22k lower than it was originally put up for on the 13th March 😔.

How long are people finding it's taking from offer to completion? Has anyone else lost their buyer?

Slowly reading through so sorry if I've missed stuff.

Hiya. Can I Join? I’ve been reading back from page 20. It’s hard to remember names to stories. But, I’m finding it all very educational. I cannot understand why the English property market is so complicated and bastardly. I’d love some more clarity with asking prices etc. I hate the games.

Our situation; we have a 2 bed on a relatively desirable road for ‘starter homes’ we are 8min walk from a 20 min a train to London Bridge.

We have out grown our house with 3dc. So are looking very close by.

We have just had 2 valuations and are waiting for another 2 next Thursday. They have both valued our house the same. They are suggesting we list our property because of Covid conditions. Viewings only permitted if you are proceedable- however we have seen three houses fine without being on the market.

We have been looking for over a year and it’s been slim pickings. We are looking at 1m from our house.
I know our house will sell very quickly, due to location. But, I’m scared we won’t find anywhere. How long can you keep someone waiting?
I feel mean. I also don’t want to settle or feel pressured. Ahhh I really hate this!

@Bells3032 Luckily (we thought) this time round it's us moving into a new build and our buyer is a FTB. We moved just over 3 years ago, thought this was the forever home but decided to move nearer to amenities. So the new house is supposed to be the forever home. I get why you want a 4 bed, makes total sense to me.

@notheragain4 Offer on ours end of May, offered on the new build and was accepted same day. I feel really sorry for the buyer whose had some terrible issues with their solicitor, and we are looking at a further 8 week delay, I can't say too much in case they are on MN!

And I get that the process takes as long as it takes but the frustration that everything takes so long is acute. Our sols advised us they had our mortgage offer 3 weeks after we received it...I mean come on.
What should have been a very straightforward transaction where moving day was scheduled for mid-july is now up in the air. Our sols also sent in the TP1 pack the next door neighbours title plan and I had to chase for ours!

I think today just topped it off. Getting ready to sign the contract of sale and noticed the incentive for SD was missing. Contacted developer to confirm incentive and for them to email the solicitor so she could amend the contract and they come back and said "This is now being paid by the government and you will have no financial impact" - which, if you look at it that way could be construed as correct. But to me the house price has now gone up. The developer are now getting £374500 when we were expecting to send £370000. Just doesn't make sense.

I've just got back from seeing the house, had to go see it to see if I really, really want to buy it, because today I don't. And I'm probably being really emotional about it all but I have had enough.It's like the last straw of a really bad relationship, that point you reach when you are done, numb to it all and can move on. I even looked on RM earlier...

@Lemonylemony You are so right, the world is a crazy place right now, the constant working from home is not doing me any favours and like everyone here we decided to sell and buy - mental.

So were we are at:
Buyer - another 8 weeks to be ready
Seller - kicked us in the teeth removing the incentive - even the mortgage company has the incentive on the CML. We either fight it, sign the contract or find another house (which DH will not do)

@Poppiesandnettles no I totally understand. I know what a bind it is especially when you're missing their (unrealistic) deadlines like we are you feel like you have no negotiating power. Are there any other new builds in the area? Would you consider threatening them with pulling out if they don't give you the SD incentive another way? I'm not trying to make you feel worse but Barratt have made the decision to pass the incentive on to customers, so I would call your developer up on it. If you were to reserve another new build now you'd have more negotiating power for other incentives such as solicitors fees, mortgage cash back etc, so it's unfair you are completely losing out. Or at least ask to meet them half way, can they not give half the incentive so you're both benefiting.

@notheragain4 I thought we’d be lucky and exchange in 6 weeks like the developer wanted but sadly not. It is such an unrealistic time frame I agree. They think as we’ve got the 50% from SD holiday we are not out of pocket. Charming!

Gosh no don’t feel bad, do you think most other developers have agreed to honour? How has your vendors been with delays? I haven’t even told ours yet there is no chance of completion 1st week August which is what they want!!!

There were a couple of Taylor Wimpey houses we looked at but come away as they didn’t spec great, would cost at least £20k for carpets, decent kitchen, bathrooms etc. Really annoyed now as we could have had the 5% care discount and kept all the SD money to put into the house. It was stunning, but then it was the show home lol.

DH really sad about it all tonight, maybe we need to get away from house buying dramas and do what we want for a change.

This house has everything in it, carpets blinds, fully integrated kitchen, alarm, turf - you name it they’ve put it in. Saying that though it is not without its compromises. Nice, but not perfect.

Thank you for listening x

@Poppiesandnettles I like what you’ve done there. Maybe we can all have a crack at that, then we can see who is where in the process.

It’s just gone 4.30. Up since 2, stress of this is giving me chronic insomnia.

Buyer: 8 weeks since offer. Has mortgage approved, all queries answered. Has been like that for 2 weeks. I have no idea what hold up is. Now entering 3rd week of EA saying ‘you might exchange this week’. No chain. Sounds pretty dreamy until you realise this is buyer number five for me.

Seller: Purple Bricks and cheap solicitor (no name, just one of those ‘my conveyancing solicitor dot com jobs). Toxic combo and I have no idea what is going on. My solicitor tells me he has everything he needs for now.

Please can I join as well?

We sold our one bedroom flat six years ago as we had children and didn't fit anymore and we went into rented accommodation. Just after Christmas we decided to investigate a mortgage and got a AIP for a 95% one, we were looking at houses but as our break clause in our rental agreement was up until the middle of July we were not rushing. Obviously then lockdown happened, the AIP expired, 95% mortgages disappeared and we gave up on the idea of moving.

Now, however, with the Stamp Duty being removed and some money being gifted from family we have suddenly decided to try again. We viewed a house and had an offer accepted on it on the very last day that we could activate our rental break clause and we now have three months to get out of here! I think that we are doing ok (however I don't really understand where in the process we are to be honest!) obviously we have no chain behind us and the house we are buying is empty (although going through probate which might hold things up)

Buying - offer accepted, solicitors instructed, mortgage applied for (through broker) and the bank is sending out valuers next Wednesday. What's next? 😬

Welcome & good luck @luvabellawilleatme! Next will probably be searches and any enquiries you/your solicitors have. 3 months seems realistic but I have heard that probate can be a bit of a pain so hopefully all goes well for you!

@Poppiesandnettles you sound so fed up this is such a horrible process, it sucks all the joy and excitement out of the thought of a new house. What did you think about it when you went to see it again? Maybe agree with DH that you’ll (try to!) completely forget about anything house buying related for the weekend and go and do something fun together instead - you’ll probably feel heaps better for a break (if you manage to not think about it too much).

Where we’re at:
Buyers: 5 weeks since offer, signed draft contracts & TR1 hopefully on their way to them along with property info & fixtures & fittings forms; enquiries answered earlier this week; don’t know if they’ve got searches/mortgage underway but I hope so.
Sellers: offer accepted 4 weeks ago, have had not a sniff of any paperwork since. Our mortgage decision due any day but searches not started yet as their solicitor hasn’t sent through the necessary stuff. Have repeatedly chased via estate agent and starting to get fed up now!
God it’s depressing just how little has happened when you see it written down like that 😫

@Poppiesandnettles it's so hard to not let it consume you on a bad day. I suppose the positive to take from it is that you get to keep the other half of stamp duty, and developers like Barratt who are honouring the incentive often tend to charge for every last extra (and basic items!), so it's swings and roundabouts. If you still love the house and the location, stick at it, today is another day.
I had a terrible buying/selling week last week and a progressive week this week, hopefully you'll get some more positive movement this coming week,
It's a roller coaster xx

We accepted an over asking price offer from a cash buyer on Thursday.

We still haven't exchange on our new property though which is getting incredibly frustrating, next week marks the beginning of week 6 since offer and instruction. We should exchange next week but I've been saying that for the last 3 weeks.

The plan is currently to complete on the new place end of September and complete the sale of ours end of October which gives a month to play with.

We're moving from a 3 bed to a 7 bed which is less than 5 minutes up the road so I think we should do the moving ourselves. We don't have a lot of furniture and have access to large vehicles for moving so it is doable but DH thinks paying for movers will be worth it. Is it worth paying for movers?