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Buyers sellers roll call 12

980 replies

Bells3032 · 27/10/2020 16:19

New thread. Hopefully the last one for us!!

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mrsanflowerpot · 11/11/2020 07:14

Please can I join? My dad passed away and had a house that he hadn't lived in but kept for us since my mum passed away (difficult back story, mum was very young, so were we, dad struggled so it's all quite difficult). The house went to market and we accepted a low offer in the last week of August on the basis that: house (which needs complete renovation) was being purchased by a small time developer with funds; six week completion agreed; person had excellent solicitor that they work with regularly in hand. As there is so much emotion tied up in the house and it needs renovating, we agreed mainly to ensure a smooth sale.

We are now 12 weeks in, turns out buyer is a landlord needing a buy to let mortgage; we were due to finally exchange last Monday and then told mortgage required a higher EPC rating, we go works and re-assessment done by Tuesday evening to bring rating up, we're still waiting for lender's okay and to exchange over a week later. Our solicitor informed buyer's solicitor (who we have heard nothing from) that we would instruct agent to remarket and outlined all timings etc., solicitor replied "the executors can do whatever they want, I'll revert when I have information" (exact words).

I am buying and selling in parallel, found somewhere and sold mine four weeks after, so two weeks before we are expected to complete, and we are ready to exchange, but can't. Everyone in that (small) chain (our buyer and seller) are aware and sympathetic, but if we still have no movement this week, I fear all will collapse.

IWBAGE · 11/11/2020 07:53

Thanks @Bells3032, that's kind :) I am finding focusing on the 'tasks' of a house purchase useful as a distraction at least.

Our new solicitor confirmed she received all the documents yesterday, and she's set up an online case tracking account for us so we can easily see how everything is going.

Our broker also put the full mortgage application in, and he's said they've already auto-approved the value so won't be arranging a lender's survey.

The seller's EA has sent on the notification of sale, or whatever it's called, onto our solicitor. And the property shows as sold on Rightmove finally!

I think the next step is to arrange our own home buyer survey. We've asked solicitor to give us recommendations as we're new to the area 👍

Baxdream · 11/11/2020 08:38

I feel like I need to check out of this group. We move on Monday and the immediate calm that came over me the minute we exchanged is quite strange.
It was a horrible journey and I feel all your pain whilst waiting and feeling so out of control.

We've got the packing service and they come on Saturday. I'm now off work so I have a chance to sort some bits out, clean the oven etc.

I genuinely wish you all the luck in the world. You will get there, even if, like me, it ended up costing more, it doesn't matter. If the house is right, who cares!

Maybenexttime08 · 11/11/2020 08:42

@Baxdream Good luck with it all - hope the move goes well.

I am getting so frustrated! Meant to be exchanging on our purchase on Friday, but our solicitor still has 8 outstanding queries which the new build developer solicitors just aren't answering! How difficult can it be! We then need to apply for the ATE (a help to buy thing) and that takes 3 or 4 days so we're doomed!

I'm not sure how to get them all to take this a bit more seriously - aaaggghhh!

Lurchermom · 11/11/2020 09:54

Omg, strong chance we are exchanging tomorrow. Seems to have suddenly happened out of no where!!

CaroleFuckingBaskin · 11/11/2020 10:19

@mrsanflowerpot

Do you need to sell the parents home in order to proceed with your own sale/purchase

Bells3032 · 11/11/2020 10:53

Hello. Small update from me now we've exchanged on our purchase.

Our sale is now on its 4th week waiting for searches. My tenants have moved out so now have an empty flat. I've agreed to include furniture despite my feelings against it just because moving it and storing it until we move in January is just not worth it.

How long do bloody searches take? When I did it in august in the same council it was less than two weeks.

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Badgerbadger22 · 11/11/2020 11:56

@Lurchermom wow how long did it take from offer to exchange? Smile

Exciting for everyone (apart from me!)

RAINSh0wers · 11/11/2020 13:11

Congratulations @Baxdream always nice to see there’s light at the end of tunnel! Hope this weekend goes well and Monday’s completion goes smoothly.

I hate being in limbo. I’m not good at just waiting!

NewHouseNewMe · 11/11/2020 13:48

Welcome to all the newbies! May you have a very short spell on this thread.. Grin
@Bells3032 - congrats on exchanging! On the search front, something isn't right there.. Our searches came back within 2 weeks too.. Is it possible the solicitor is using an outsourced company to drive this and their fee hasn't been paid? Our solicitor uses one and the buyer has to pay upfront for it.

NewHouseNewMe · 11/11/2020 13:49

And congrats to @Baxdream!

Bells3032 · 11/11/2020 13:51

@NewHouseNewMe I dunno but apparently the solictor is getting pissed off as the agent and the buyer are chasing every day. There have been massively delays all caused by the buyer misrepresenting their position and taking ages to take any action but they're blaming it on the solicitor who was only instructed 4 weeks ago (despite this sale being agreed in June)

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whyamidoinhthistomyself · 11/11/2020 13:59

I like hearing the good news stories especially, it gives me hope

but the general frustrations are also good to hear because I am so impatient and can't work out why we still don't see to be even talking about possible exchange dates after nearly 2 months. It's only a totally chain free house sale as we are moving with family rather than attempt coordinating a long distance move.

IWBAGE · 11/11/2020 14:28

I'm just assuming, from reading everything here, not to expect anything to happen until February at least. But if I go in with that expectation, hopefully it will be a little less stressful.

But of course we're in a different position in that we've already sold and are renting at the moment. I know it's tougher if you're selling at the same time.

Lurchermom · 11/11/2020 14:52

Congratulations @Baxdream - I hope I get a similar calm because at the moment I feel like I'm about to implode.
@Badgerbadger22 I can't remember exactly but I think we are on about week 11. Small chain of FTB-us-vendor.

Now not sure if we will exchange tomorrow. Our solicitor has randomly brought up another last minute enquiry that might require an indemnity on the new house. Those indemnity policies will be the death of me!! They've cause so much hassle on both sides: who needs what, who pays for what etc.
Still holding out for completion end of November, sorting out house insurance etc so we are ready to go as soon as solicitors give the signal.

Badgerbadger22 · 11/11/2020 15:05

Right I am officially here to stay. Our offer on our dream house has been accepted. We are buying from a very keen & lovely solicitor who is chain free!!
We’re all keen! And off we go!

Cannot believe my luck. House didn’t even make it on to Rightmove Smile

CakeWine time to celebrate

So to confirm it’s just FTB - us - chain free vendor

Bells3032 · 11/11/2020 15:55

@Badgerbadger22 ah well done. YAY!!!

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FakeFlamingo · 11/11/2020 16:22

@Badgerbadger22 - yay! Sounds like the dream transaction. We've bought 2 houses and for both we were chain free and only viewed houses that were chain free. And YET it was so stressful.

Now we are selling. Fingers crossed we don't end up with a mega chain buyer..

NewHouseNewMe · 11/11/2020 16:37

Sounds like you hit the jackpot - ideal chain! @Badgerbadger22

Badgerbadger22 · 11/11/2020 17:28

Thank you all xx

We have the opportunity to move into the house we’re buying so our sale can crack on. And we can then relax about our purchase as we’ll be living there.

Does anyone know the legal implications of this kind of arrangement? @Jujuball is this very common?

Xx

Badgerbadger22 · 11/11/2020 17:53

By “moving in” = I mean rent on a monthly rolling contract

upschittscreek · 11/11/2020 18:07

@Badgerbadger22 I wouldn't say very common but there's not much risk for you as the buyer really, I wouldn't recommend it to a seller (what if the buyer doesn't follow through on the purchase and then you're stuck trying to evict them!) but as a buyer, crack on Smile

We're surrounded by boxes ready to move out of our house at the weekend, for completion on Monday on our sale. My lender is driving me mental on the purchase, still no bloody mortgage offer!!

Badgerbadger22 · 11/11/2020 18:10

@upschittscreek oh yeah haha!! She might change her mind then - she is a solicitor herself!

Who is your lender?

Our searches are now on a 4 week time frame!! That’s much better than the previous estimated 10 weeks!

upschittscreek · 11/11/2020 18:10

Whoops forgot to say it's jujuball under another name haha 😂

Badgerbadger22 · 11/11/2020 18:11

Ooooh hahaha! Grin thank you x

Hope you’re ok Smile been thinking of you Flowers