Buyers sellers roll call 12

[Bells3032]

New thread. Hopefully the last one for us!!

@NewHouseNewMe the first removal company I spoke to said that, they wouldn’t come round for a quote until we exchange. I don’t want to go into exchange without removers!

The second said they’re booked until 21st December! Finally the third said they had space and would send us a quote. If it’s not something ridiculous I think we’ll go with them.

@PointyMcguire

Having two titles is no big deal these days at all. Unless the property is unregistered and so you'll be merging on first registration which is the way it'll be done. Again, no big deal.

My understanding was some lenders won’t lend if the property is split across two titles as essentially there’d be nothing to stop you selling off one title, thus reducing the value of the property you’d mortgaged against? I think my confusion comes from our solicitor saying the two titles will be amalgamated, yet you’re saying this isn’t possible as the LR no longer do this, which could mean our entire purchase is about to fall apart.

That's wrong. Lenders have never ever brought that up with me and I've been doing this too long. You can sell off part of your property at ANY time and if you wanted to do so have to get lender approval if the entirety of the property (over two or three title numbers) is charged. This is called a deed of release and comes into play when people sell off parts of their garden for plots.

There is everything stopping you selling off some of your land - it's called a mortgage.

Your solicitor might manage to get LR to merge the titles, i've never been successful because - guess what - it doesn't matter.

Good luck all.

@MinecraftMother that’s really good to know. Sorry if this all seems really obvious, it’s our first time having a mortgage, and having already completed on our old house I was having a huge panic that we were suddenly going to end up homeless with no possible way of financing the house we’d sold up for. Really appreciate all your help and reassurance

@PointyMcguire
You are welcome love.
I have to say though, it makes me sad that your lawyer hasn't explained this to you. Have you expressed to her your worry? How on earth would you ever know? I am sure I couldn't even begin to do what you do for a living without some guidance. I feel like you are being let down.

I've got my own firm these days, for my sins. I've trained conveyancers and have a wonderful Legal Exec now learning to fly, and I really stress that when reporting (when we send the contract to you with a big letter of explanation about the title) we have to break it down. Make it clear our client knows what matters and what doesn't.

It really does make me cross that this isn't happening for you.

@NewHouseNewMe

We had to have a gap of about 10 days for our removal firm. Are you trying to complete on a Friday? That was a no go for us so we completed on a Monday. Not as convenient but it got us our amazing removal men so it was worth it

@MinecraftMother for the most part DH has been handling the correspondence with the solicitor but he’s as laidback as they come and...well...I’m rather highly strung in comparison and don’t really cope very well with the unknown

I did drop her a line earlier querying the impact of the 2 titles on our mortgage offer (she’s now saying the titles won’t amalgamate unless Santander insist this is a condition of our mortgage) and asking about the late searches indemnity but just got a flat out “no I wouldn’t advise you do that” with no real explanation as to why not.

It’s tough as she’s been used for a number of family purchases on DH’s side so I don’t doubt she’s good, I’d just like to have a better understanding of what the heck is going on and what it means in terms of when we’ll exchange/complete even if it’s dumbed down to the nth degree for me to understand it!

My solicitor isn’t replying to emails or phone calls and I’ve really had enough of it. It’s downright rude. You would think they were doing it for free instead of for a fee!

@PointyMcguire your conveyancer sounds like mine 😂

Really good but we’re having similar issues with the lack of explanations!

@Tomatoandbasil I don’t even know what to suggest about yours :(

Thanks for the replies @Baxdream and @RAINSh0wers!
I think I'm going to have to get with Baxdream's approach of completing on Monday or even a Tuesday so we don't have to bear everything being wrapped up for the weekend!

@Badgerbadger22 it’s so frustrating isn’t it? On the one hand I love that she doesn’t beat around the bush, but would it hurt to explain to explain why every once in a while?! 😂

Okay - we have twice been on the verge of exchange, I thought we were pretty much on the verge today, fully expected it to be tomorrow.
Our buyers have: viewed twice, then visited once with a Builder, then once with an Architect, had two different surveys (one for purchase once for the architects), agreed to the completion date on the proviso I allow them to visit for 2 hour in a week or so with their architect.

Then at 9:20 I get a message from them via my estate agent asking if we have Smoke detectors.
Smoke detectors - cost about £5 and even I could fit one (and think I will be doing so at my new place).
I think I've gone from being the awkward one of the chain to being quite obliging really.

Maybe that is actually a good sign @MollyButton. It might mean they're engrossed in planning for the early days and thinking of what they need to buy.
I'm going out to buy carbon monoxide alarms for my new property, for instance!

We've just been "gazundered". At the point of exchange yesterday, our buyers announced they want to delay for another month and they want a further 30k reduction in the price or they're pulling out. I am astounded that people can behave like this.

@DeeplyMovingExperience that's awful, I'm so sorry. They want a £30k reduction on what basis? That sounds like a huge reduction. Have they been difficult buyers from the off?

Oh gosh @DeeplyMovingExperience that’s terrible. I don’t understand how people can behave like that. Did they give any kind of explanation, Jane their personal circumstances changed? Even so, £30k is a big drop.

They have been utterly awful to deal with from the off. They gave us every reassurance but came back with this at the eleventh hour. Their survey was done months ago and they said nothing at the time about renegotiating. They have deliberately waited knowing that they now have us over a barrel.

@DeeplyMovingExperience oh my goodness that’s awful I am so sorry you’ve been treated like that!

Were they showing any red flags throughout the process?

I made the fatal mistake of taking them at their word. There have been endless inspections and queries and every possible thing they could think of to string it out. We have shown them every courtesy and I have no doubt that this was their intention all along. To say all the right things then screw us over.

I expect they are having a good laugh at our expense right now. We've been taken for a pair of fools (which is exactly what we've been).

Deeplymovingexperience do you truly have no option? I would drop them on principle. I really hope you have other options than caving in.

No options unfortunately as we had already exchanged with our lovely vendor for the house we are moving to, so we would lose the deposit, plus all our costs. Our buyers deliberately timed it knowing that we would be totally screwed.

Can I join? Offer accepted in JULY. Still waiting here.

Everything is ready to exchange, just waiting on our buyer to sign his contract. He said to our EA that it’s “high on his list but not a priority” right now. He’s a developer... luckily our EA and solicitor have told him we’re waiting to complete so we can move on with our purchase!

It’s so frustrating. We’ve been more then patient but like previous poster he’s got us over a barrel!

@DeeplyMovingExperience that’s so dreadful! I really feel for you.

@DeeplyMovingExperience so sorry to hear that. this is what I am terrified of. It's taken nearly 6 months for my buyers to get their butts into gear and I am terrified they will gazunder us at last minute. I will not rest til we have exchanged! I just can't believe people like this exist. I wish we had the Scottish system here

@Bells3032 this is my fear too! We are just being left dangling!

@Bells3032 - it's been six months for us too, and that's exactly what they've done.

They could have raised this months ago when they got the survey back, but that was never on their agenda. Their delays already caused the upper chain to collapse once. I feel so stupid. They are both in their sixties and seemed like normal people.