Disheartened about Moving

[juejaf]

This time last year we decided to put our house on the market and make the big move. We have been in our house 26 years but with growing family and DH able to transfer his job, older son going to senior school it felt right.
It was this weekend last year that we found our dream home, which was in the process of being built.
Sold house in November...that's when all the stress started.

1. Dec - Buyer couldn't get mortgage
2. EA got Financial advisor got buyer Mortgage Deal
3. Jan - Financial advisor left EA all paperwork in - mess no mortgage [shocked]
4. Feb - Buyer got mortgage through bank
5. March - FT buyer in chain pulled out
6. March - Chain re-established
7. March - Lock down no survey
8. March - Our purchase house is ready from builder
9. April - Our buyer sold to new buyer complete 28 days

10. April - New buyer can no longer get mortgage due to furlow - 11. June - Our buyer get another new buyer 12. July - problem with bottom of chain - leasehold company no one can get answers - covid excuses 13. August - Our purchase - Builder threatens to put property on market 14. August - Get message from buyers solicitor going to exchange contracts - yipee 15. August - turns out buyer solicitor made mistake - exchange of contracts from first chain not second chain and now second chain have walked 16. Sep - first chains mortgages have or due to expire - need to reapply for mortgages 17. Sep - The property we are buying goes back on Market and sells within a day. DH decided to pay for all flooring prior to exchange of contracts as builder had said would not guzump!!! big mistake thousands down the drain 18. Sep - No confidence in buyers chain or solicitor put house back on Market 20. Sep - House sold, offer accepted on in a house we saw last year but its been so long not sure as not the dream home we lost. 21. Sep - Just been told buyer chain lost first time buyer!!! and it starts all over again!!!!

I propose searches and surveys to be preformed on the house you are selling before you put your house on the markets, this would be lodged with you solicitor for any potential buyers and mortgages applications...wouldn't this be simpler???

sorry for long post!!! totally disheartened by the whole thing.

Every time I read a story like yours, I think that it’s quite an achievement that any houses (in England) get bought or sold at all. It’s such a complicated process!

I'm so sorry OP, it is such an awful process and buying from a developer is so stressful too. How awful of the builders, was there an alternative house you could reserve and try to negotiate that flooring back? I appreciate you probably don't want to buy with them now though.

That’s awful. I’m so sorry.

I would be thinking of staying put.

That's awful, I would consider putting the house back on the market and only taking an offer from a cash buyer or FTB with mortgage offer in place.

@Beetle76

Every time I read a story like yours, I think that it’s quite an achievement that any houses (in England) get bought or sold at all. It’s such a complicated process!

I agree, there has got to be a better way!

Name and shame the builder.
At the very least you should have got the flooring price back. You didn't get the article you paid for, and that's fraud.

Regarding your new house, what is it like? Just remember why it ticked all your boxes.

New builds are very glossy and lovely but literally you're buying at a premium as there is nothing more you can do to them.

Good luck this time! You've been on a rollercoaster for sure.

That sounds like the Scottish system.

We have to get a survey done prior to selling. We pay for it and anyone can view it.

Someone buys your house and that’s the end of that.

If their old house doesn’t sell that’s nothing to do with you. They are still expected to buy yours on the date they said. No gazumping. No pulling out at the last minute with no reason provided or required. So none of these chain things that can mess up loads of peoples lives.

As far as I know. It’s been a while since I moved house!

Good luck OP.

Oh OP, what a horrendous experience. I hope you find a house you love as much and it all works out in the end.

@Elieza

That sounds like the Scottish system.

We have to get a survey done prior to selling. We pay for it and anyone can view it.

Someone buys your house and that’s the end of that.

If their old house doesn’t sell that’s nothing to do with you. They are still expected to buy yours on the date they said. No gazumping. No pulling out at the last minute with no reason provided or required. So none of these chain things that can mess up loads of peoples lives.

As far as I know. It’s been a while since I moved house!

Good luck OP.

There are chains in Scotland and one sale falling through does affect the onward chain. If a buyer has a house to sell offers are generally made and missives concluded subject to the sale going through so you're not 100% committed until then. It's also unusual to pull out for no reason and gazumping/gazundering doesn't happen because the law society has guidance against it (which also covers some estate agents) but until missives are concluded (exchange), you can still pull out for whatever or no reason at all. It just doesn't seem to happen as frequently or as easily as it does in England.

I do think the Scottish system is better (the need for a home report and no gazumping/gazundering are a real bonus) but there's still the uncertainty about a sale proceeding until missives conclude.

I'd be tempted to pull out of the sale and relist and tell the EA you ideally want first time buyers or cash buyers. Was there much interest in your house when you put it on the market first time round? It sounds like so much hassle that it gets to the point where its not even worth it!

reading all your comments, thank you for the support and advice.x

That sounds terrible about paying for the flooring. I would definitely be looking into your consumer rights on this one. Is it a well known builder, or a small independent one? At least if you could get your money back on that it would make you feel better.

Regarding buying and selling, it's a terrible system. It's fresh in my mind as we went through it last year. At present things are even worse because of how unstable things are - I would seriously think whether you're sure you still want to continue. Only you truly know the answer to that one. Good luck, op, whatever you decide.

Its a small independent builder who now has agreed to give us half the money back as goodwill.. he did say that he didn't have to do it! Our solicitor has told us that we have no rights as we decided to carpet prior to exchange of contracts...

We really need to move as DH has arranged a transfer through work.

I panicking now as I feel history is going to repeat itself with another lock down...solicitor working aka sunbathing from home!!! No surveys being done! I definitely wouldn't choose to move in a pandemic.