Buyers Sellers Roll Call - 13

[lachy]

Staring a new thread!

Come and say hi 👋

@checkedcloth I am in Wales so level 4 full blown lockdown, government website says house moves can go ahead as normal during this time

House moves can continue in all tiers and house buying if its necessary. Only impact I'm finding is everything is slower and lots of cancellations but that's covid more than Tier 4 but the more covid seems to be more delays.

@mountains76 that's my initial thought too - I was just going to put 'No'.

@DisappointedOfNorfolk just give it a one sentence answer. The question will almost certainly have come from your buyers solicitor vs your buyers.

A Christmas miracle happened. We were told last Thursday no chance of exchange before Christmas and looking to complete middle of Jan. We exchanged today and complete 8th Jan. Now panicking trying to book removals.

[quote propertyhell]@DisappointedOfNorfolk just give it a one sentence answer. The question will almost certainly have come from your buyers solicitor vs your buyers. [/quote]

I have gone with:

'Presumably due to the significant increases in property market values over time?

The offer accepted was lower than valuations of the property prior to sale.

Surely this is a question for the buyers' valuation surveyor, the Estate Agents, or a qualified economist?'

Not sure about middle sentence though?

Hopefully our conveyancer will tell me I need to remove/alter it if unsuitable?!

Maybe just put this:

WTF?

Hi. Joining in as I've just discovered this thread. We're very early days - had offer accepted on a house last Monday so I'm at stage of booking a survey, finding a solicitor and sorting mortgage. First time buyers but nervous as vendors haven't found a house to move to yet. Apparently they're determined/in need of selling though.

Over two weeks I've been waiting for buyers report. I wouldn't mind so much if solicitor didn't keep saying 'we'll get it to you by end of week' then the following week when I asked 'I'll have it with you tomorrow' then when I didn't get it that day I emailed end of day to ask where it was 'I'll have it with you first thing Monday morning'

Now it's 16:20 on that Monday and I'm yet to see it or at the very least be given a reason why. Am I missing a trick here, should I be concerned? I have been really patient and polite about it but getting frustrated now... if they can't get it to me now for whatever reason that's fine but why do they keep giving me false promises instead!!? That's the frustrating part!!

Just got pass EICR through, phew last thing we needed to do apart from 2 queries after searches. Hopefully can exchange soon.

@DisappointedOfNorfolk I think it is a reasonable question. They might be wondering about major renovations or upgrades to the house that might have substantially increased the value. The value of a particular houses isn’t just about passive market forces. Improvements can cause the property to double in value, for instance.

Is it possible to say no to the electrical certificate? From what I understand most houses don’t pass anyway.

We might get a Christmas miracle here too....the exchange saga has been going on for 5 weeks now and our Solicitor is quietly confident that tomorrow might be the day.

If it happens it will be brilliant and a great start to Christmas, if not we'd resigned ourselves to a January exchange.

DH has put a bottle of prosecco in the fridge just in case

Our buyer or their buyer is insisting on same day exchange and completion. Why?! But thankfully our seller is moving out into a rented house and has signed a lease so it’s looking good to go for early January. I feel a bit sick booking removals without exchange. Is same day normal?!

Same day is normal we exchanged and completed last Friday.
It was stressful but just so happy now to be in our new home.
Be prepared for the possibility of getting the keys late we didn't get ours till gone 5pm last Friday and that was because of a hold up with our buyers funds.

Not an expert but I thought a lot of exchanges and completions were now same day due to covid, not sure exactly why maybe as risk is higher of something going wrong between two dates like a mortgage offer being withdrawn, someone getting covid etc.

I’m so fed up. We’re now in week 16. We’re a chain of just two houses, it didn’t need to take this long. Our vendor has done nothing but delay and drag her heels, despite everyone saying to me that’s she’s motivated to sell.
Our buyers are renting their house out and have booked tenants for 6th Jan before we’d got to the stage of discussing exchange dates. Because of our vendor, we’re not ready to exchange yet (one piece of info missing). I’m getting several messages and calls every day from our buyer, ramping up the pressure and threats to pull out if we don’t exchange by Christmas. They even suggested today that we exchange without the buyers report and then complete the legal bit afterwards?! What planet are they on? I’m utterly sick of it all.

How long did it take your buyers to get their mortgage offer? We accepted their offer end of November and still haven't heard that they've got their mortgage offer. No homebuyers survey booked in and I'm worried we will all miss the stamp duty holiday!

The removal company want 50% non-refundable deposit which we lose if we have to change dates with less than 10 working days notice. Is this normal? It’s a big fee for packing and removal. Feel really nervous!

Well. Today has been an absolute roller coaster of emotions but we have FINALLY exchanged.

DH and opened the prosecco at 3.30.

Congrats on exchanging lachy We had a final two queries today but both were fairly simple though one was asking if the chimney was shared 50-50 with neighbours, we think it is but not 100% certain and in past neighbours thought the same. And another one if we can access our house via rear from street which we can but had caused some confusion as our solicitor hadn't realised we had a door there so she had been saying no without asking us. Buyers said that was final enquries and our contract and transfer deed are signed and witnessed and back with solicitors so hopefully exchange is imminent after Xmas holidays.

Just gone from Tier 2 to Tier 4 on Boxing Day and old house is different Tier 4 area, all we have to do is a bit of clearing, couple of days maybe but hope no issues getting down. EA has keys in an emergency. Two kids at school are supposed to be covid testing them first week of January so don't know if we need all stuff out by then just incase though DS is SN and terrified so might just run screaming if can even get him there. May just keep him home as he's not been anywhere. Don't think can use skips in old area either as council tax registered other house as empty and increased bill even though its not empty, argh but hopefully shortly rid of that council.

Our buyers mortgage was back in a week and a half - EA and us were at speed, must have big deposit I guess.

@Oaklion still waiting on my buyers mortgage.. they applied 18th November

Thanks @SilkiesnowchicksandXmastreecat and @lollypop345

Good to know we aren't the only ones who have had a bit of a wait.

Silkies - it must feel great to have the final few queries under your belt!

@Tomatoandbasil our movers wanted the same 50% deposit, but also offered cancellation insurance for £90, which would have allowed us to change the date at short notice without losing the deposit. Is that an option?