Buyers Sellers Roll Call - 13

[lachy]

Staring a new thread!

Come and say hi 👋

Just got off the phone to my estate agent and she said viewings will stop, purchases and sales will continue and th only trouble could be getting a delivery van as less will be working or only have a 1 man band, so things could take longer.

Our EA thinks all current sales not at exchange will be stopped and it also looks dicey if ours is about to fall through. EA trying to find out more.

Oh no. I spoke to solicitor today, paperwork being checked over ready to exchange by the end of the week.

Now we've heard buyers-buyer is trying to turn their current flat into a business and refusing to exchange and complete until that is done. So annoying as our buyer risks losing stamp duty.

What is a profession agent meant to do? Ours is doing basically nothing, the odd hit of chasing but a lot of 'assuming'. I feel annoyed as what the EAs are getting is more than our solicitors who actually are chasing.

That's meant to say 'progression agent'

Just accepted an offer, we’ve got one more viewing scheduled for tomorrow. The governments leaks/rumours that they are pausing the market did kind of push us into accepting. So I’m really hoping it’s just viewings that are put on pause

I’d cry so much if the whole market gets paused. It would be a disaster for everyone!!

When will we know? Or is it a case of taking each day as it comes?

@BonjourMiss going by Boris' previous form - we'll know at the last possible moment most likely!

From what I can see the government (housing dept MHCLG) put out a warning that all house moves could be stopped and a announcement made at any time. So it just hoping numbers in hospital go down so no need for this or at least things are delayed as long as possible.

We’re days from exchange this is so unfair

You'll be ok if you can get to exchange. It also says will close for a short time so maybe it'll be 4 weeks or so.

We are trying to work out issue on ours. Its with buyers-buyers converting their current property into limited company. EA thinks this is their deposit source but seeing if deposits can be reduced.

I don’t think we can get to exchange quick enough :(

@BonjourMiss we're days too. It should of been done already really but we were so focused on getting our sale through.

Ours is a right disaster zone at the moment and at the point of nearly putting back on market. Buyers-buyers are really faffing around - been going on since September and now won't commit to exchange or completion. Trouble is market could get shut quickly and ours isn't the easiest house to sell. Our buyers are lovely and we want to sell to them but we were not told about this - tbf I don't think they knew.

We exchanged and completed today! It’s been a long slog but we got there. Good luck to everyone!!!!

The gouvernment website has stated the market may need to close since it opened back up after the first lockdown.

We are days away from exchange and completion too.

But this is not a new amendment to the gov.uk page!

Bookmarking this thread as I am hoping to put my house on the market in Spring but have no idea if that's even possible/probable!

I guess I'll just focus on painting more skirting boards and hope for the best.

This implies its just the latest guidance and not been in since March :

www.todaysconveyancer.co.uk/main-news/tighter-restrictions-stop-moves/

Apologies Also the page was updated 7th jan, it's the media picking up on an Old statement that statement has been on the gov website since 22 March. Last updated 7 jan.

It has been the gov.uk site that all the press articles are referring to. I'd be lying if I said I was full of confidence for our move, but all the solicitors in our chain have told us all the same and the ministers have been questioned with no imminent changes as advised by the coveyanving association.

Oh that's encouraging - I just asked our solicitor if a lockdown like in March and she said that she could get a few transactions through then as not illegal and the big issue was removals. Removals seemed to be solved by man and a van or van hire and our house is empty and buyers buyers are keeping their places so that's doable.

She did say market is very different now and lots of transactions whereas in March almost none. Labour just called for viewings to stop.

Our big issue now seems that our buyers-buyer has lied to our buyer and is making their flat into a limited company which needs to be complete by exchange. Though that's a tax avoidance scheme for higher rate taxpayers who can also benefit from lower stamp duty until 31 March. Our solicitor doesn't know how long that would take to complete but said if company incorporated could be a few days.

I've had about 26 kittens today, good job they are cute. That's reassuring if its been on since March though they change things every few days. Hopefully as schools shut since 6 January the numbers will start to fall but if they are half full not sure they will enough. Stress. And home eding a SN child and y10. I feel so angry with our buyers-buyer, our buyers are lovely and both us and them will lose time and money and maybe our sales due to their very late in the day tax avoidance and lying. But going on again seems too risky atm.

I'm hoping we proceed, mortgage funds are requested and ready to exchange. I'm just being hopeful at this stage we are so close by the time an announcement is implemented I hope we've completed..

@BrieAndChilli , we're in Wales too , have accepted an offer , and surveyor here tomorrow
But there's nothing on the market I want to buy ( except the too big and too expensive dream home we stupidly went to see )

Been told our vendor likely won't accept the survey valuation (been downvalued) and is very likely to put the house back on the market.
I honestly can't see them selling it again any time soon as it's been for sale for years. What the seller reckons increases the value actually reduces it in the opinion of our surveyor (and us).