Buyers sellers roll call 11

[kerrymucklowe2020]

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

Just checking in here.

The full story:
Went on sale in June, it fell through in August, we accepted a new offer end August. It's 10% under asking price but was our only offer and we need to get going because of primary school places.

The new buyer is a landlord.

Everything is soooooooo slllooooooowwwww! The people we are buying from have been patient but they are getting grief from their own purchase as this has dragged so much.

Apparently our buyers searches will start this week - am I right that it tends to be around three weeks?

Wwyd. I'm thinking of pulling out of the sale now. My solicitor contacted theirs 14th August saying we could not complete without indemnity insurance. Radio silence despite follow up chasing them emails. I had to pay more as they wanted more if they had to go into rented/ complete by September. Presuming vendors don't want to pay for indemnity so therefore delaying the sale. Shall I pull out?

@kerrymucklowe2020 I don't know what I would do in your position. Is the indemnity insurance for the strip of land you mentioned last week? How much is it? Could you just pay it yourself and move on? With regards to paying more due to them going into rented, it would depend on who needs the move more I guess. As you know we are moving out of ours and will be homeless for atleast a week. We wouldn't have considered charging our buyers more due to this as it will cost us £100s in storage and accommodation but then we didn't want to lose our buyers as I think we got a good price for our house. I doubt we shall get the same if they pulled out.

@ibuiltahomeforyou I think it depends on areas. Some people on here mentioned their searches taking 6+ weeks. Our LA is about 10 working days.

@Notyetthere- ( yes it is about the land I mentioned) - had they have not been cheeky and mentioned they needed more to go into rented ( they're actually buying a vacant property apparently) then, yes. But they e neither moved into rented nor completed by September. Furthermore their solicitor was very proactive when it was MY buyer we were waiting for. Now. Radio silence

@kerrymucklowe2020
We're having to get indemnity insurance for our buyers. Solicitor got on this last week and The quotes came back from insurance companies in a few hours and cost £200 (which we will pay at completion). Admittedly, we are now upgrading the policy for a bespoke one which solicitor said can take a day or two.

@Roowig2020- did your vendors also demand another 2k like mine though

@kerrymucklowe2020

We're the vendors in this situation and I was only trying to highlight that the indemnity insurance process can be quick and a cheap solution so it must be frustrating that they're holding it up when it can be resolved easily- unless there's more to it? My understanding is that current vendor has to organise/ purchase the insurances.

@Roowig2020 - that wasn't meant with attitude- apologies if it seems to come across that way 🙃

@Roowig2020 I don't understand why this was not picked up when they bought the house though. It's making me cautious tbh.... There's 2 other queries o/s - a section 102/104 ( drainage/ sewers) and a section 38 ( council adoption). He also lied to me telling me all queries had been done and he was ready to go. There's a query that's been referred back "in house". It's making me a tad suspicious ( or is it just stress!)

@kerrymucklowe2020

I can honestly say that we did not know there was a restrictive covenant on our property when we bought 15 years ago. Admittedly it is our fault and ignorance is no defence, but our previous conveyancing solicitor never alerted us to it and we didn't read the 100 year old original title deeds (I wouldn't have understood it anyway based on the sections I've now read- it's all in old English!).

We built an extension 5 years ago and got all planning permissions, building regs, party wall agreement thinking we'd done the right thing then this just came up recently and we're devastated that this could cost us a sale.

I'm sorry you're going through this. Your vendors don't sound motivated to sell. I am bending over back wards to move this forward and in our situation I would happy give our buyers 2k to keep the sale, so your vendors are being very cheeky asking you for it when they're not being pro active.

Thanks @Roowig2020. Your situation re the years old covenant is understandable but this house is 8 years old

In a new build I would expect to have known what I was buying given there's no history to go back on. I hope you get resolution quickly as its horrible being in limbo.

@kerrymucklowe2020 It all sounds incredibly stressful. When we were selling we bent over backwards to answer every query and got any work done that we thought might be an issue.

The house we are buying is a used new build too, but they are still building on the site so we are waiting on written confirmation that the council will adopt the roads and that the water company will adopt the sewers. Apparently the developer had to agree to this before building the estate. I wonder if there is anything like this where you are buying.

I'm not knowledgeable re ransom strips though and have never come across one (thankfully).

@Zebrahooves just double and triple check everything. I've looked at a few houses where they were still building and there were hidden management fees when we did our research as apparently after a certain year, the council's were reluctant to adopt roads/ drains/ green spaces

Hi @NewHouseNewMe, I'm in West Yorkshire, whereabouts are you?

Feeling frightened I won't find anything or my buyer will pull out :(

Welcome new people!

We had an offer accepted on a house to buy today, I can't quite believe it's real praying everything goes ok with our little chain now. Knowing through work how many things can go wrong has me on pins.

I have started to pack things away into boxes even though we haven’t exchanged yet. I might regret it if something happens with the sale but I am determined to keep decluttering and giving stuff away on Facebook so that the overall amount of stuff will be reduced. Anyone else tempting fate like me?? We have also collected lots of cardboard boxes from friends and neighbours so hoping to do this as cheaply as possible.

Flat just gone on the market today - is this the place to freak out/have a moan? 😂
Please say yes!

@Jujuball- great news!

Thanks @kerrymucklowe2020  I'm sorry to hear you're still having such a nightmare with yours. I really hope it gets resolved soon for you.

@OldSpeclkledHen you are in the right place welcome!

@llamallamallama09 I'm nowhere near you as I'm in London! It's a busy market.. So much for everyone wanting to move out to the countryside!

Checking into the new thread. Had to take a few days break as we have still not exchanged as our buyers are not ready. I am losing all patience and if it wasn't for my amazing Conveyancer I think I would have lost it by now! Maybe we will actually exchange tomorrow... agreed date for completion is Friday.
I'm sorry to hear that your main issue is still not resolved @kerrymucklowe2020. It must be so frustrating for you to have radio silence at the moment. What has the estate agent said? Do you know what the other 2 outstanding queries are?
Congratulations @Jujuball!! Fingers crossed for a smooth journey!

Our house has just gone on the market today and we had an offer accepted this morning on a house we've fallen in love with, as well. Don't know if we were risky doing it this way! I just really hope we get viewings and an offer on our house soon!!

Hope I can join you guys to share what I'm sure will be a stressful journey! 😬

Today I got a reply from one of my leaflets on a four/five bed townhouse newish build. They’re a good price but have tiny gardens - lots of inside space obviously. I’ve asked for pics and hoping it could work out as two working from home spaces is what we need more than anything. Just wondering how tiny is too tiny for a garden when I have two kids (tbf we have a massive one now and they never use it!)