Buyers Sellers Roll Call - 13

[lachy]

Staring a new thread!

Come and say hi 👋

Well done to all of you who have exchanged and/or completed. Phew! Enjoy your new home!!!

Just to let you know that after worrying we hadn’t had a surveyor round we’ve now heard that there was an IT problem at Barclays (our buyers’ lender) and this has delayed the processing of mortgage paperwork so just a heads up to people about that. The problem has now been resolved (we understand) but if others have experienced delay, that might explain it.

I know time scales are very movable but can I ask what your thoughts are on timescales.

We are middle chain of 3. Surveys done, mortgages in places, searches back. Awaiting enquiry replies for our purchases. So what’s left/what happens next?

We were at that stage mid December and exchanging hopefully today or tomorrow completion mid January, taken a bit longer as Xmas closure for a week or so from 23rd to 4th.

We just had questions from searches and questions from survey answered then ready to go but we are sellers not buying. Contracts and transfer deed signed with witness as well.

@Silkiechickscat excited for you! You are so nearly there. Thank you for replying it gives me hope that perhaps we could be in sometime soon too.

Thanks - yes its exciting to be so close, will be relieved once we exchange but appears imminent.

It hopefully won't be long at all for you - as long as everyone is efficient at replying and not too nit-picky it can all happen pretty quickly.

@january29 we're in exactly the same position as you. Our buyer seems to have instructed the most incompetent solicitor she could find so there seems to be no end in sight.
We've just sent in our queries from the survey on the property we're buying but can see that taking a while as there's a lot to discuss.
Fingers crossed you hear something soon.

@january29 you are just ahead of us (awaiting searches back and queries regarding a couple of things on the survey that was done mid December) so will be interesting how long things take for you. We are Ftb and vendors have already moved out so hopefully as no chain things won’t get too complicated with exchange etc!
I’m assuming once all queries answered then it’s just a case of prepar8ng and signing all the paperwork?

Just spoke to my vendor and I’m utterly panicked. She said she realised her house was under valued by £15-20k

We’re almost at exchange and I’m worried she’ll change her mind

Loulou789 I am waiting for a mortgage approval from Barclays so this is helpful info. Do you know if it was a local or national issue? I'm feeling a bit stressed as it's me holding up the chain.

@badgerbadger22 oh god that sounds stressful! Surely as a solicitor (if I remember correctly) she knows better? Value is a moving object and prices went nuts with the stamp duty holiday but they might not be so resilient without it!

As for me haven’t posted as nothing has been happening. We offered on a place in early December but contracts have only just been delivered on both sides so chances of doing all the legal stuff before April?? Well I don’t know but doesn’t seem high and we can’t just magic up 15k by then either. In good news the vendor’s purchase is chain three so quite a small chain.

Ours will have taken 12 weeks from buyers offer to completion (and 17 weeks for buyers buyer) - it was just buyers buyers - our buyer - us (selling only). Both us and our buyer responding to queries in 24 hours and our buyers mortgage taking less than 2 weeks. Was a delay with contract packs as our solicitor took 2 weeks to send it to us then took a week to fill in so that was 3 weeks, searches took a month (said 6 weeks on websites).

Thanks @Silkiechickscat my mortgage and buyers mortgage is in place, just amazed it took over four weeks for contract packs! Gotta think searches, enquiries etc can be done in the 11 weeks we have left? If I cross everything!

Thanks all. It’s confusing as we’ve yet to have our contract pack is that when you get the fixtures and fitting form? So maybe things are going as well as I’d hoped. Searches definitely back and mortgages and surgery’s done. I wish I was a little clearer on exactly what to expect! @BrieAndChilli you sound in a similar position to us do you have any idea when you hoping to exchange?

@january29 originally end of January but as vendors solicitors took ages to send contract pack over etc our solicitor said it might be pushing it so hoping for mid Feb now.

I’m also hoping that Christmas and lockdown although will slow down things means there isn’t loads of new buyers and sellers popping up so solicitors etc can just concentrate on their existing clients eg us!!

That’s a good point @BrieAndChilli I just hope we can make it before end of March. Have you signed contracts yet?

After several attempts we have finally exchanged on our sale. Just our purchase to go 🤞🏻

Argh - just had one query back again and we already answered it. It's really strange as well asking if we access the property through our rear wall - its 6 foot high with no door, no we don't climb over the wall.

We have finally exchanged and are completing on 14th. Very relieved

We have started on the legal stuff , with email contact between both sides solicitors
Nothing on the market for us to even look at , let alone buy , which is worrying
Hoping for a flood of suitable properties in the next week or so

Congratulations @Mirrorxx and @propertyhell when do you both complete? How’s sorting movers gone?

Completion day tomorrow. DH and I are shattered, and we've got a little bit more to do tonight still.

All being well we should get our keys at about 12.30 tomorrow!

We've not heard anymore - supposed to complete on 14th but not exchanged yet and were just doing a final enquiry which was a repeat of one already asked and replied to mid December. Not sure it will happen tomorrow either as it was going via EA not via solicitors.

Hopefully all resolved soon - wouldn't be surprised if our buyers have removals booked for 14th so hoping will all get resolved soon. Must be great to complete or even exchange. Can't wait.