Buyers sellers roll call 12

[Bells3032]

New thread. Hopefully the last one for us!!

How naughty!! But I love it. What’s a search agent?

I’m excited for you!

That Santander link is really helpful - thanks. I was told 5-6 weeks on the phone this afternoon, and I'd assumed they were exaggerating so they could overdeliver, but it's probably about right.

Halifax were only 4 working days from application to offer including valuation.

That was only a few weeks ago when we started purchasing the house that turned out to have ASB neighbours ( still upset by this! )

Waiting to exchange since completing the chain first week of August.

An unnecessary silent week with nothing happening (again!)

[quote AethelsWhiteGoose]@MinecraftMother thank you, I have a question;

Our garden has a covenant on it from the 1950’s which says no structures can be built. This was broken by the previous owners (small summer house) and us (small greenhouse). We were unaware of the restriction when we bought 10 years ago as our solicitor at the time missed it.

We found out about this restriction recently from a new solicitor, do we now need to get indemnity insurance before putting our house on the market? Thank you [/quote]
Hi there, no - wait for your buyer's solicitor to pick up on it and your sol will organise a breach of freehold restrictive covenant indemnity insurance policy. However, if the structure has stood for 20 years, then under the Doctrine of Laches consent could be implied and that's a strong argument your sol could put to them if they bring it up...

MM x

Hello, I have a question- when a buyer / vendor stipulates “I want exchange within 6 weeks”. How can we actually make this happen? I feel like it isn’t down to us because there’s:

1. searches
2. the bank
3. conveyancers workload

@funkyfruitloops I’d think they were being wholly unreasonable/deluded in the current climate. Perhaps 6 weeks is doable for a cash buyer (and even that would depend on how quickly the searches came back!) but for anyone else, you’re right the timeframe is largely out of your hands.

So today is a happy day as we’re completing on the sale of our house. It feels a bit of a weird non-event as we moved out last week, but we’re going to mark the occasion with fizz and fish and chips later.

We also heard from our broker first thing that our mortgage application has been agreed pending our valuation being received so it’s full steam ahead on the new house and looking more likely by the day that completion on December 10th is doable

Woo hoo congratulations @PointyMcguire

Thanks @Badgerbadger22. When we first agreed to break the chain I thought we were a little crazy (I’m completely risk averse normally) so it’s a huge relief things are coming together as planned.

We have the opportunity to stay with family to complete on our current house.

It worries me that our purchase could fall through and we’d be left homeless

I am also risk averse - can you tell? 😂

Well we are no closer to knowing whether we are moving in two weeks or not following our solicitors fighting yesterday. Our solicitor has clearly told us she will not be doing anything on it today either, so another weekend of limbo.

We've exchanged on our sale! 🥳 ready to complete on Monday. Part way moving things to the storage unit and then we're properly moving out tomorrow.

We had a hard time finding buyers (went on the market mid-Feb, obviously went into lockdown, changed agents in September and accepted an offer a week and a half later). Completion will be exactly 7 weeks and 6 days since accepting the offer, I'm so glad our buyers have been so easy and quick! Such a relief to get the sale through.

If, worst case scenario, something went wrong on the purchase end we up renting for a while, that doesn't feel like end of the world to us, we're just so glad to finally get this house sold!

@Badgerbadger22 haha! You might've heard people talking about "personal searches" rather than applying direct to the council. Our firm uses one of these companies to do our searches, the ones we use are cheaper, faster and very reliable

@funkyfruitloops

Hello, I have a question- when a buyer / vendor stipulates “I want exchange within 6 weeks”. How can we actually make this happen? I feel like it isn’t down to us because there’s:

1. searches
2. the bank
3. conveyancers workload

You can't make it happen, and neither can your solicitor.

The parties in the chain can bear the preferred turnaround timescale in mind, but there are absolutely no guarantees.

Congrats @jujuball - I can’t believe how quick that’s gone! Your buyers must think you are an absolute dream.

Fingers crossed you exchange on the purchase soon

@Simonsaysitschristmas thank you! To be honest we proposed the date to them, with the second lock down we were anxious to just get the sale secured. You never know if their lender could've withdrawn their offer/they could've gone on furlough etc so we just wanted it done

Im still watching in the background and just wanted to say congratulations @jujuball !!
We complete Monday too 🥳🎉

Aww thank you @Baxdream good luck for us all completing on Monday!!

So just had our estate agent on the phone. According to our buyers solicitors they received the searches on Monday and sent the enqueries that day too. But my solicitor says he hasn't received any enqueries and sent their solicitor a chaser which hasn't been responded to.

No idea what is going on.

Hit the first delay - can't arrange a homebuyers survey for love nor money until week beginning 14/12/2020. Everyone is completely booked!

But at least it's booked in for then now, another thing to check off the list.

Just had a letter from nationwide to say they've approved my application to let my property and are adding 1% to my mortgage from next month. I haven't bloody applied for that!!! Tried calling them and the team that deals with it have gone home for the weekend. Complete panic now this will affect my mortgage application on the new house as I'm porting. Urghh why have they done this?!

We exchanged and completed last Friday, despite us thinking is would never happen. It was a probate sale of my late FIL’s house. Quite sad to see it go as many happy memories. My husband and I had a little cry, my sons didn’t want to go and see it for the last time, which I’m glad as they were very close to their grandparents and it was never the same empty. Money was transferred this Monday. Can’t believe we don’t have to go round there any more.

So now our buyer, who has
Kicked up a fuss and demanded we move on the 17th, hasn’t got a removals form booked and his solicitor isn’t ready. I can’t believe it. They are now proposing late Nov/early dec.

Congratulations to everyone that has or is shortly exchanging/completing!

We’ve heard today our searches aren’t due back until 23rd December ☹️ So no move before Christmas for us. We have an electrician and roofer going out to our new house next week, and depending on what comes out of those, I guess negotiations may begin! But for now I’m just going to plan out our new utility and snug to keep myself amused!