Buyers sellers roll call 11

[kerrymucklowe2020]

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

Right I'm going to join you guys in earnest now! We've sold to a household that'll be letting out their flat, so akin to FTBers, and we've just had an offer accepted on a probate house. Very exciting to go from no buyer to complete chain in a week! House was for sale for 4 weeks in total and we've got a good deal on the next one, a total doer upper, so we're pretty chuffed. We've booked in the mortgage application next week and getting all our ducks in a row. I think our buyers will be surprised the chain completed so quickly! Would really like a January move if possible so we can spend Christmas in our present house and pack up after Christmas. I asked on a separate thread but has anyone taken out homebuyers insurance against gazumping? We know of a few offers were made on the house we're buying from people who weren't proceedable at the time so we're a bit worried they may still approach the vendors with an offer if they do sell.

@MollyButton searches are 6-8 weeks here

@MollyButton searches were 7 days before coronavirus

The LA says 7 days (in one project I worked on I spent a lot of time looking at planning applications), but I guess I just have to cross my fingers.

I'm not sure that you can insure against gazumping as it's something that would be open to abuse. The only way to reduce the risk of gazumping is to get to exchange as quickly as possible unfortunately.

@MollyButton our solicitor is saying 2-3 weeks for searches but now I’m worried it’s going to take longer. We only became chain complete on Monday but were hoping to ideally be in by Christmas.

Oh gosh I dream of being in by Christmas. But it won’t happen in our case because of the searches

How many are in your chain @PointyMcguire ?
Christmas sounds quite tight to me, depending on how motivated everyone is in your chain?

@AmandaHugenkiss congrats!!
@Notyetthere congrats on exchange can I ask how many days in advance did they tell you you were going to exchange?

We haven’t got a date yet had everything ready to exchange since Monday and everyday I’ve rang it’s just we have your file at final review you should get w completion date today...

I've got a surveyor before the end of the month!

Catching up. Huge congratulations to @Notyetthere and @AmandaHugenkiss!

@Simonsaysitschristmas I remember your £0 valuation so I'm pleased that has been resolved. What an unnecessary stress for you.

We are awaiting our (new) buyers searches to come through now, EA thinks it takes about 10 days but I think that's maybe a bit optimistic. Buyers said they likely won't be booking a survey which, if true, would speed things up massively. Higher up the chain wants to exchange by end of month which is fine by us but I can't control the speed of searches.

Is it normal to have dreams/nightmares about the new house. Last night I dreamt we moved but the house was nothing like what we are buying and half of the downstairs was a garage!

Congratulations to everyone who has exchanged and completed recently!

We seem to be in the backward and forward enquiries stage now. Searches are back and just waiting on solicitor's report. It doesn't look like we are going to have exchanged before the secondary school deadline so will have to apply from existing borough. Really hoping to be getting nearer to exchanging in the next few weeks. Have started gathering boxes but don't want to jinx anything by packing yet!

Hi all, please can I join?

We accepted an offer on our house 4 weeks ago and we are planning to move in with family short term rather than try to coordinate a move over hundreds of miles, and were told purchaser has no chain either. All sounded good and very keen.

We sent our paperwork to conveyancer and we were then expecting to hear rumours of mortgage valuations and searches . Estate agent has been trying but has heard nothing

Is this normal? How long would you give it before re-listing? Never sold a house before so I have no idea.

Vendors still need two weeks to clear an empty house, radio silence from solicitor. No exchange/completion date in sight

@Baxdream buyers are FTB and we exchange today. Completion is set for a few weeks time so technically we will most likely be without chain by the time searches come back. The sellers of the house our sellers are buying have said they’ll move into rented so as not to hold things up, and our sellers also own a flat so worst case could temporarily move into that if needed.

This is our first time as sellers so we have absolutely no idea how best to manage all the moving parts and feel very much beholden to what the solicitor and estate agents are telling us. We had wanted to link the purchase but our buyers started throwing their weight around and given they were paying full asking price we felt it was safer to pocket the cash rather than risk them walking away.

@Puppylucky it exists, it's called homebuyers insurance and you need to take it out soon (7 days) after you have an offer accepted. It covers you for mortgage fees, survey fees and conveyancing fees should a couple of scenarios happen, one of them being gazumped.

@PointyMcguire how long did it take you from your buyers making an offer to exchanging?

@graduatedbob a lot of LAs apparently have later date until when you can register the new address and still be dealt with in the first round for secondary schools.

@Badgerbadger88 we technically held them up a little as we were trying to link the sale. Accepted offer at the end of august, buyers wanted to exchange first week of October but we said no as we wanted to know our sellers had found somewhere before locking everything in. All in I think it’s been 7wks from offer to exchange.

@PointyMcguire that’s incredible!

Love your username btw!

[quote MollyButton]@graduatedbob a lot of LAs apparently have later date until when you can register the new address and still be dealt with in the first round for secondary schools.[/quote]
Yes we've got to exchange before 11th December to register a change of address and still be classed as being on time. That's 8 weeks from today. Surely, that's got to be possible?!

@Badgerbadger88 haha thanks

So after rushing around like crazy to get contracts signed and dropped at the solicitors yesterday to meet our buyers demands to exchange by today we’ve just found out they’re going to try to get the contract back to the solicitor today but exchange may be next week now.

We were delighted when they offered full asking, but I’m beginning to go off them a bit after jumping through hoops for them only for them to then slow things up