Buyers sellers roll call 11

[kerrymucklowe2020]

Here's the new ( last one for us eh @zebrahooves?)

@Anyoneoutthere123 the payment will be taken and your lender will refund you whatever you've overpaid

Hi guys, I’m new!

We are mid house buy/sell.. chain is complete. Searches are underway. Mortgages are applied for. Our buyers are cash. We are buying a 4 year old house. They are buying a bog standard early 2000 build, chain stood there. They are porting their mortgage. We are remortgaging so I feel we are probably the ones who’ll hold this up 🙈 We have 80% LTV & are applying comfortably within our MIP. Our monthly payments will be £100 more a month each than we currently pay. So I’m hopeful it’s all very affordable & hopeful no-one is buying a complicated older house. I worry the hold up may be that I’m on maternity but I am due back in December. Our vendors want to move first week in November.. I feel this is optimistic but all the solicitors have agreed to work to this date 😬

I hear such horror stories with house moves, ours seems to have been quite straightforwards so far. I keep expecting everything to go horribly wrong 😬

Can I ask, when do people start packing & booking removal companies? I’ve got two young kids, one of whom is a baby.. I’m starting to panic about getting it all done 🙈

Just had a week with 3 very positive viewings and we just got our first offer! FTB, offered the typical 10k lower than asking price, so agent said rather than give away our minimum they will ask if they can come a bit closer to asking price. They're not far off though so here's hoping they can raise their offer a little and we can proceed!

It's nerve-wracking to wait. We want to offer on the house we're hoping to buy, and our 2 runner-up houses have sold STC in the meantime!

Eep!

Hello! I am new here too! We accepted an offer on the flat we are selling 6 weeks ago and had one accepted on a house about 4 weeks ago. Survey is done, mortgage is approved, a short chain with just two properties involved so in theory it should be quite straightforward. However our vendor Is being really pushy to exchange ASAP and our buyer has concerns about a few things that don’t seem important to us but have been pointed out to them on the survey so we will have to wait and see 🤞

Can I join.

Have had the most anxious weekend, waiting to hear tomorrow if our buyers are proceeding with the sale on our house (we were 10 days from exchanging contract). Enquiries threw up that there was a breach of a 100 year old restrictive covenant in title deeds. Our solicitors have got indemnity insurance to cover so no risk to buyer but buyers are understandably concerned (FTB).

I don't know what to do if this doesn't go through. We were relocating to another country and have jobs, a new house that we're in the process of buying, schools etc. It's so up in the air. We've handed in notice on our current jobs!

Options we're considering if it does go pear shaped are :

A) Putting house back on the market and hope for a quick sale (sold within a week previously) but I'm worried market has. Oiled a little. Approaching owners of new house and seeing if they can be patient- offering more money? (we've already agreed an over asking price). They have already bought a new house pre Covid, so a short chain. This is our dream house in dream location where houses rarely come up.

B) Do we try and get a let to buy mortgage on current home and then another mortgage for new house. Dh very worried about financials though we probably could afford it.

C) take house off the market, try and get jobs back and put move off to next year.

Any other options/ thoughts would be welcome

@Roowig2020 the only other option that I can think of would be to sell the house to a "we buy any house" type company. Yes, you would get quite a bit less for it, but better than being tied to a house in another country (if your move is permanent).

Hopefully it goes through for you.

@Zebrahooves
I hadn't thought of that. Thank you. I will have a look. Do you know how much typically they offer lower than market appraisal?

@Roowig2020 I haven't used them myself. A colleague whose house had subsidence had used them and got a good price. But I have heard tales of them dropping the price close to exchange.

Hopefully someone more knowledgeable than me can advise.

if the buyers have accepted the insurance then you should be fine, I can't see them pulling out over a covenant breach.

@Roowig2020 just be mindful and do LOTS of research first

uk.trustpilot.com/review/webuyanyhome.com?languages=en&stars=1

Hey everyone, can’t believe I’ve not come across this thread! Hope I can join

So we accepted offer from FTBs just over 3 weeks ago, had our offer accepted on a property 3 weeks ago.

The vendors of the one we are buying have done sweet FA. Fortunately our buyers are lovely and OK to wait, but we’re hesitant to push this.

Something about our vendors is ‘off’ can’t articulate why but each day we feel their heart isn’t in moving. They’d also been SSTC to buyers 2.5 weeks before accepting ours (buyers fell through), so have been SSTC for well over 1 month.

This weekend we decided to view some properties as a back up - offered on one we actually think we like more. It went to best and final as 3 buyers offering , find out tomorrow who they’ll go with...

Oh and just to get everything out, we’re applying for mortgage through Platform - best rates but SO SLOW, c30 working day turnaround before the underwriting team even review it

Aaaaaa that was cathartic!

@Bwiththegoodhair was it a different estate agents who let you view properties whilst supposedly being in the process of buying another property? That seems a little cheeky to me, although I’m not a seller, and I do understand your approach! The way my vendors have messed us around in the last week, if we had more time on our hands I’d have been tempted to view elsewhere, as it is our work shifts don’t really give us much time together to do viewings anyway.

@Lemonylemony, we’ve been super transparent with the vendors’ EA, in that their noncommittal approach has us very concerned and we’d need to look at plan B. Our EA plus other local ones we’ve built a rapport with all suggested the same, apparently market is now slowing so chances of them finding somewhere are decreasing. Plus we can’t lose our buyers.

Doesn’t mean it feels good though, but at the end of the day we’ve got to look at it like a business transaction. If the vendors had got the ball rolling at least we may have felt a bit more comfortable, but they’ve done nothing in well over a month, so we needed to be pragmatic.

Know I won’t be moving again for a very long time after this!

Signing onto the new thread!

@Bwiththegoodhair - Platform? Please don't do it. Our application process started 14th July. We are still waiting. We are porting and borrowing a little extra (6% of property value). Our buyers with Halifax applied and had an offer in 1 week.

@Notyetthere... Oh my goodness that’s ridiculous!!

Ours isn’t at the underwriting team yet so suppose we could change, although rates have jumped quite a bit since our app went in...

Eurgh this is a painful process!

Hi everyone. Feeling a bit flat right now as we have been on the market for a fortnight but as of yet not received even a low offer. We're wondering what's going on, whether it's too expensive, but we have had 4-5 viewings so we don't know.

Checking in. In theory should exchange this week if buyers mortgage change comes back, but 🤷🏼‍♀️

Think I just need a mental health day as no end in sight- tips?

Christ my solicitor is infuriating

“We have to wait for the lender to acknowledge they have received the funds before we can re-request them”

Okay, so can you phone the lender then and ask them if they have the funds?

“Oh.... yeah right we could do that”.

So bloody do it! They just seem to want to wait around all day for other people to things, there’s no proaction from them. No wonder everything moves so slowly.

@Lemonylemony ughhhh. Makes you wonder how someone acting so dense becomes a solicitor in the first place.

sigh, nearly three weeks since we sold and still nothing we could buy. There are only 11 properties that meet our Rightmove search and of those none are even nearly right! Tempted to go and see two three bed semi-detached for a second viewing but our heart isn’t in it because we live in a 3-bed semi already (a smaller one, admittedly!)

Hello everyone! Thought I'd join this thread!

We sold to a cash buyer last week, and we are now on the hunt for a house! We have found three which I could see myself living in - however one is through modern method of auction, one is going to best and final tonight, and one best and final on Friday. The market here seems mad!

Where are you @llamallamallama09 ?

It seems very busy here too.. I have been quite surprised! Quality stock near transport with 4-5 bedrooms that present well are flying off the sale shelf.

Slower are the renovation jobs. The developers seem to have left the market as finance dries up.

Ooh we've got two different offers now! Gosh nothing happens for weeks then suddenly it all happens!