Page 8 | Buyers/ sellers roll call - are we on number 10 now?!

kerrymucklowe2020 · 2020-09-04T17:04:27+00:00

Hope this is the final one for us!

Lurchermom · 10/09/2020 10:07

We are Cotswolds area thank you for the offer - we will get in touch with them first and see if there's been a miscommunication of some kind! As it seems totally bonkers. And then look elsewhere. Annoyingly we didn't go with the previous surveyor we used on our current house (and we liked a lot) because he said he couldn't do until start of October and he didn't want us to have to wait that long so declined to quote for the survey!

Maybenexttime08 · 10/09/2020 11:10

STILL don't know if we are exchanging tomorrow on our sale... my nerves can't take this!

Original poster

kerrymucklowe2020 · 10/09/2020 11:21

@maybenextime08 fingers crossed! Deep breaths and 🍷!
@jujuball don't forget to update on how the viewing goes!
@Lurchermom that's a ridiculous amount of time to wait for a survey!
Random question. Are all Juliette windows the same size?

OP posts:

Notyetthere · 10/09/2020 12:26

Quick question for those in the know with regards to paying deposit at exchange. We received the TR1, contract and stamp duty forms from our solicitor for the house we are buying. In the attached letter it was mentioned that on the basis that our solicitor receives 10% from the sale of our house, we would need to top up the difference to make the 10% on the house we are buying. Maybe I was being naive but I thought the full deposit came from the sale of our house?

I understand that on exchange we are liable for 10% if we don't proceed.

What are others doing in this instance?

AmandaHugenkiss · 10/09/2020 12:31

@Notyetthere

Quick question for those in the know with regards to paying deposit at exchange. We received the TR1, contract and stamp duty forms from our solicitor for the house we are buying. In the attached letter it was mentioned that on the basis that our solicitor receives 10% from the sale of our house, we would need to top up the difference to make the 10% on the house we are buying. Maybe I was being naive but I thought the full deposit came from the sale of our house?

I understand that on exchange we are liable for 10% if we don't proceed.

What are others doing in this instance?

My understanding is that it’s not unusual to accept less than 10% upon exchange, so if your buyers 10% only covers 7% of your purchase, you can ask their solicitor to accept that as a deposit.

Lurchermom · 10/09/2020 12:59

@Notyetthere

Quick question for those in the know with regards to paying deposit at exchange. We received the TR1, contract and stamp duty forms from our solicitor for the house we are buying. In the attached letter it was mentioned that on the basis that our solicitor receives 10% from the sale of our house, we would need to top up the difference to make the 10% on the house we are buying. Maybe I was being naive but I thought the full deposit came from the sale of our house?

I understand that on exchange we are liable for 10% if we don't proceed.

What are others doing in this instance?

We've just had this (a nasty shock when we weren't expecting it) and people on here kindly advised me to speak to our solicitors to negotiate a smaller deposit. Apparently it's very normal - certainly my solicitor didn't seem to blink when we enquired. We haven't had confirmation yet though.

daisymill · 10/09/2020 13:12

All contracts now back at the solicitor and deposit paid via chaps payment this morning , eek fingers crossed we can exchange tomorrow!

Original poster

kerrymucklowe2020 · 10/09/2020 13:14

@daisymill! How exciting!

OP posts:

Notyetthere · 10/09/2020 14:30

Ah ok thank you all for your responses. I think I will have a chat with our solicitor after we receive the mortgage offer which I am hoping will be anytime from tomorrow.

Based on our bank's timescales, I have started mutterings about dates for exchange and completion. If all goes well then I hope we shall be moved in 3 weeks or just under that time. Someone up thread mentioned somewhere that it's taking a week for the banks to release funds to the solicitors? Is this the case for every bank?

daisymill · 10/09/2020 14:36

@Notyetthere

Ah ok thank you all for your responses. I think I will have a chat with our solicitor after we receive the mortgage offer which I am hoping will be anytime from tomorrow.

Based on our bank's timescales, I have started mutterings about dates for exchange and completion. If all goes well then I hope we shall be moved in 3 weeks or just under that time. Someone up thread mentioned somewhere that it's taking a week for the banks to release funds to the solicitors? Is this the case for every bank?

Santander is 5 working days

RegularTourist · 10/09/2020 14:41

Hi all. We are 3 weeks in since chain completed. Only 3 properties in the chain so not too unwieldy.
Initial flurry of mortgage and survey stuff all done and now we seem to be in the interminable waiting stage...
Seems we have been lucky with mortgages and surveyors so far. Some of these wait times are crazy!

Notyetthere · 10/09/2020 14:50

@daisymill yes that is what I thought. Actually 5 working days is a week technically so no change there.

jelly79 · 10/09/2020 17:55

Exciting @daisymill hopefully not too long!

I feel sad and really flat today! I'm tired and should of moved today and have 3 weeks leave booked off to move! I'll be working and waiting instead 🙄

I need to know what my seller is thinking now too...

FourForYouGlenCoco · 10/09/2020 17:55

Amazingly, after my mega grump yesterday, there is progress today! I rang our solicitor to try and get them to go directly to our sellers’ sol for the outstanding stuff so that we could meet our buyers’ next Friday completion deadline, and it turns out the sellers’ sol has sent through most of the stuff needed and there’s now only one outstanding enquiry - so we may actually be in with half a chance of exchanging tomorrow after all. I might ask them if it’s worth just requesting funds from the bank tomorrow and then at least they can be sure of having them in time if it all comes together!

Original poster

kerrymucklowe2020 · 10/09/2020 18:15

FFS 9 weeks in and buyer is soooo slow. Not even handed in paperwork yet. Is this EVER going to happen

OP posts:

Sweetpopsicle · 11/09/2020 06:48

So..because out completion has taken so long..Thhr house that we were due to purchase has fallen through..David Wilson cancelled my reservation yestersay..im heartbroken but there's nothing i can do.

So im hopefully going to complete next week..then will stay in rented till i find somewhere else to live..

Jujuball · 11/09/2020 07:24

Oh @Sweetpopsicle that's rotten, you poor thing

Maybenexttime08 · 11/09/2020 07:32

Exchange day on our sale today, fingers crossed. Just emailed our solicitor the authority to exchange, so now a very nervous wait.

AmandaHugenkiss · 11/09/2020 07:48

@Maybenexttime08

Exchange day on our sale today, fingers crossed. Just emailed our solicitor the authority to exchange, so now a very nervous wait.

Very exciting for you!

Zebrahooves · 11/09/2020 08:05

So sorry to hear that @Sweetpopsicle. It will probably take longer for someone else to go through the process from the start than it would for you to have completed, but there seems to be no common sense when it comes to this.

We once looked into part exchanging and moving into a new build, but were told that, if at any stage anyone else who wasn't part-exchanging wanted that plot, they would be given it over us, no matter how far down the line we were. So we walked away.

notheragain4 · 11/09/2020 08:25

Hi all, sorry I skipped off for a few days.

Firstly, I have to say I'm impressed by the dignified silence after a new poster declared she wanted to deliberately drag the sale up as long as possible, if you are still here I hope you're ashamed after reading all the stress and angst in here, you don't sound mature enough to be selling, step up and rent or at least be completely transparent with your buyer. Awful way to behave.

Anyway, update from me is we are now set to complete 25/9, after moving only two weeks ago caved and booked a man with a van to help us 26/9, managed to book a snagger for completion afternoon. I'm now well acquainted with our Hermes driver and getting visits every day! It's killing me we can't order our wardrobes till I've measured but hoping to measure a couple walls when I go for the site visit 21/9!

My biggest stress right now is schools, all our top schools have no space for eldest, so anxiously waiting to see what we are offered (if anything) I applied 2 weeks ago and have heard nothing. Usual Covid excuses on their website. The kids are back in their old school but I really won't have time to juggle work and 2 hours of school runs when we move!

notheragain4 · 11/09/2020 08:28

@Sweetpopsicle I'm so sorry to hear that, they are part of the Barratt group and they very nearly did the same to us, they caused a lot of stress. How far away are you from exchange on your sale? Have they given any extensions? Are you on good terms with the sales advisor? Ours basically told us he would avoid selling it and make sure it was there for us when we were ready, but we were days from exchange. Are they selling well?

Sweetpopsicle · 11/09/2020 08:45

Thanks all - im literally 3 days away from exchange..the probkem is..as i started a new job in augyst..i beed 3 months pay slips so can't get my mortgage offer till october..DWH wont wait that long..even though initially we were due to complete in december..they then moved it up to october. Its all a bit rubbish really.

MollyButton · 11/09/2020 08:49

Oh can I join? My house has a buyer (very keen we've seen builders, surveyors and an architect today), so no problems there. I've seen somewhere I'd like, the sale and purchase might not line up perfectly, but I'm prepared to consider renting.
BUT I'm getting divorced and the financial settlement isn't agreed, and they are being tricky about releasing money for the purchase. So its getting a bit stressful, as I can't proceed at present.

daisymill · 11/09/2020 09:11

@Sweetpopsicle that is rubbish sorry to hear that.