Buyers sellers roll call 12

[Bells3032]

New thread. Hopefully the last one for us!!

Sorry @jujuball for your loss 💕

Good luck everyone. We're spending our last proper weekend in our lovely house. We've booked the packing service so they're coming next weekend. It's a very strange feeling.
I love this house but cannot wait for our new adventure.

Hello, can anyone help? Our vendors are buying a house that’s being sold by a part exchange company. They (the company) are demanding we all exchange asap (6 weeks) but obviously we can’t because of the mortgage and local authority search delays.

What does a part exchange company do if you fail to exchange when they want you to?

Thanks!

What does a part exchange company do if you fail to exchange when they want you to?
They wait.. Sign absolutely nothing that says you must exchange in 6 weeks.
Your solicitor won't let you exchange until all the legal and finance work is done anyhow.

Thank you! So they just wait.

I’ll ask our vendors not to sign anything just in case.

Imagine the whole chain collapsing just because a business didn’t get what they wanted

There’s no way we can exchange that quickly with all the coronavirus related delays around.

Have spoken to our vendor and she’ll be chatting to her part ex company tomorrow- she’s super lovely and hasn’t been able to get unbiased legal advice because they chose her solicitors for her!

they’re like bullies!! But we’ll look after each other (small chain) and hopefully team work & common courtesy will prevail.

@AmmoniteMum omg unless the house your selling is like £10m that is an insane amount to be asking for difference wise.

Glad you put it back on the market...show them not to mess you around

Not 10M sadly . The survey had a couple of usual niggles that we would have happily negotiated on but nothing major. They have the funds, it’s good old fashioned cheeky-fuckery. I’ve been on mn long enough to know that’s a thing.
Keeping busy tidying for viewings next week and my lovely teen is helping me.

Hi, joining as we've just gone SSTC on both our sale and purchase. We've been messed around and REALLY need the stamp duty holiday so we're pushing it for time .
I don't have a lot of faith in my buyers, but fingers crossed they're as keen as they seem to be about moving half way across the country.
Mortgage interview booked for Thursday, solicitor forms to complete and return tomorrow so not much else we can do for now. I'm on maternity leave until the end of the month so not sure how that will affect our mortgage prospects.

@AmmoniteMum that is ridiculous! Who even thinks that is acceptable?? At least they made it so outrageous it was a simple decision for you!

It has gone all quiet here for a bit, but hopefully in a positive way. We have approved the last of the search results with our solicitor and the contracts have arrived with us for signing in advance of exchange (she will date as appropriate). Still waiting to hear back from buyers regarding any last and final queries, so not out of the woods yet, but feeling quietly confident (might be my undoing!) We haven't heard any more regarding the indemnity so hopefully they are not too unhappy with our refusal. We will see! If they approve everything in the next week we can start discussing dates!

I cleared the garden for winter over the weekend so feeling like I'm ready to starting getting jobs done and the house Inna state to start packing...

Well done Lurchermom

So far I have been staring out the window at all the leaves...and thinking of picking up paper and pen to make a packing list. No actual action!

Our home is Sold STC as is our sellers. We've uploaded all documents and paid for the searches, applied for the mortgage. Now it seems like we just wait...

Drainage survey still hasn't come. So much for "Monday latest". The chain is waiting for this one thing.
To keep myself same I'm going to go stuff through our files and pull out instructions for the appliances we're leaving here. Just so I can feel like I'm Doing Something.

*sift

Hopefully I’m okay to join here...

It’s a 3 storey house (normal configuration with living on bottom floor) has been up for sale for 3 months, have had 2 viewings in that time - conveniently in the last week when we’d terminated our agreement with EA. We have one viewing this week from old agent.

We went live with a new agent on the weekend, in the meantime 3 homes have gone up for sale on our road and 2 of them are SSTC in the space of a week.

Seriously starting to get to the end of my tether, selling due to a split and it’s the last tie together.

Keeping everything crossed, but hard to keep optimistic.

Just joining! We have an unmortgagable house (double story single skin extension) and managed to get a cash buyer in the first week. Which is bloody fantastic but I'm walking round with a constant feeling of anxiousness that something will go wrong. They are selling to a FTB and we are moving in with my parents whilst we house hunt so a super short chain. Still so worried though. The chances of finding another cash buyer would be super slim. Need to think positive!

We've just sent off a load of forms where you state what comes with the house and electric certificates etc. What should I expect next? This our first time selling... Can you tell?

@Seaswims @highashope welcome to the group. hopefully your stay won't be too long.

I'm curious as to why a house would be unmortgable.

You send those back to the solicitor and then just wait to be honest. you may get a request for a surveyor and some questions from your lawyer and that'll be about it before exchange for you. it's mainly on the buyers side

Ahh that's good to hear! With regards to it being unmortgagable, all the big lenders have stopped giving mortgages for single skin and I'm not completely sure why. It was just the Halifax when we bought it 8 years ago that would lend and now even they won't.

I'm absolutely flipping furious. We're literally days away from exchange and our buyer has said they want £5k off the price.

I've said absolutely not, they are taking the piss. However I picked up the paperwork from our solicitors earlier today on our exchange and I'm sitting here wondering what the hell to do now.

Oh @lachy that’s awful. Have they said why?

@Simonsaysitschristmas, they want to make improvements to the house. And the improvements THEY want to make will cost them quite a bit more than that.

Essentially if we say no, we risk the sale, we risk our purchase and I just want to tell them to f*ck off. Why should we effectively pay for improvements they want?

We had similar happen. We just swallowed it up.
We've now exchanged and the relief is insane despite the extra cost!

@lachy some people are so cheeky aren’t they. They must have known what improvements they wanted to make when they put the offer in. Out of principle I would say no but I understand why you may not want to risk the sale. I assume they are just trying their luck and wouldn’t bother pulling out over 5k

DH and I are going to crunch some numbers tonight.

It makes me sick that they want a reduction in price just because they want to do some alterations (purely cosmetic). It means it eats away at the capital we have saved up to do things like replace furniture and redecorate in our new property.

I would understand completely if the reduction was because the roof needed doing, or something else structural but its not.

I could scream I'm so angry.

Do you think we could go back and say, here...have three grand, get your pen out and sign the contract so we can exchange.