Buyers Sellers Roll Call - 13

[lachy]

Staring a new thread!

Come and say hi 👋

@MsBubbles85 it’s all so different isn’t it, we’ve had our mortgage offer for a while and no firm discussion of dates on a vague early feb/late January which I think we won’t make now enquires aren’t back.

We've exchanged on our purchase. Congratulations @Yippeeforme

For both our sale and purchase we never set an exchange date it was just a case of both parties saying we're done shall we exchange with x completion date.

Our mortgage was sorted ages ago (easiest bit somehow!) but just heard buyers solicitor still hasn’t been in touch with ours - argh! We are so cramped. It would really help with work and home-Ed if we could move!

We are getting somewhere now, at long last, surveys done, searches back, signed docs, hopefully we aren’t far off exchange now. Starting to pack, can’t wait to move. Good luck everyone.

Propertyhell Congrats on exchanging.

No news here though did manage to get in touch directly with our buyers at the weekend and exchanged a few messages. They said our deal with them is fine, they are ready and packed and their deal (start of chain) is also fine just a delay whilst their purchaser makes flat he lives in buy to let but after that should go quickly to exchange.

We have finally exchanged 🥳 It got a bit tense because we are completing tomorrow, had the packers in today, loading all of our possessions into a lorry, and we didn’t actually exchange until gone 4pm! At least I can relax now, knowing that I’ll be unloading into the new house, and not paying to unload everything back into the same house!! 😂 Now it’s time for tea on the floor as we have no table and chairs, and sleeping on mattresses on the floor! All part of the fun!

Congratulations on all the exchanges!! We are the end of a chain of 3 - ftb, cash buyer and then us. We've been sorted and ready with everything signed for what seems like ages, just waiting on the ftb. Going to sk our EA to chase tomorrow, we were hoping for an exchange at the end of this week and completion next week but I feel time is running out. The house we are buying isn't available until early/mid March so moving in with parents til then. We had our offer accepted, mortgage valuation done, searches back and enquiries answered within 3 working weeks!! If only our sale had been that fast!!

Our mortgage got approved today. Woo

After some good news with our purchase we were very hopeful for imminent completion. Turns out that due to our buyers we are about 6wks minimum away from completion.
It's just dragging on and on and I can't see any light at the end of the tunnel. This has been going on for 7mths already.

We've just found there is an indefinite delay on ours too as the buyers-buyer wants to make their flat into a limited company and so their mortgage has to go through lots of checks with their management company. Our EA just says wait but I'm not prepared to wait indefinitely - I suspect this is just to avoid higher rate tax and can be financed in other ways though as not our buyer hard to know, all I know is he is a GP and can afford 2 properties.

I've messaged our buyers to say we cannot wait indefinitely for this and can they put pressure on him to do a deal without this transfer and then do his tax avoidance scheme later (or even better not at all). Our buyers are lovely but think they are too nice with him though hard for us and our buyers.

Not sure what to do we are selling an empty property but if we remarket its dicey for getting through by March for new buyer. Almost nothing on market but we aren't the most straightforward of properties to sell but we did sell low to get a supposidely quick sale.

@catfeets u sound like me 😅 I’ve told everyone our house is being relisted ASAP if people don’t get a wiggle on

I've told our EA to relist ours or find a solution but he is refusing, not sure what we can do - I guess potentially give notice to him and appoint another one. I'm trying direct via buyers which will hack EA off but he needs to stop ignoring me.

@organisedmother it's crazy how slow things can be isn't it!
We sold cheap for a quick sale and it turns out that our buyers are in absolutely no rush at all. Their buyer is also just as slow and I'll be fuming if this all comes to nothing and we end up back on the market after 7 months. I daren't threaten to put back on the market as I don't think we'd sell easily and don't want the risk of them saying 'ok put it back on'.
We need the stamp duty holiday for our purchase but our buyer doesn't, so no rush for them

@Silkiechickscat could you have a second agent market it? Not sure what the rules are if you're SSTC.
Not sure if something similar to yours is happening with the first in our chain as they all of a sudden need a buy to let mortgage and it doesn't seem to be forthcoming. Every week we're told 'mortgage expected to be agreed by end of week'. Seems like it's on a loop.

Solicitors have asked us for a completion date
Just waiting on life insurance to be sorted but am I right in thinking we don’t legally need this to proceed with the purchase?

I think we can still give notice SSTC but we would obviously have to pay current EA out if deal goes through which is fine. I would imagine if I gave notice he would suddenly be a lot more willing to help though not sure if he would genuinely try to sell it so a second agent may be better.

At the moment I'm trying through our buyers direct - they have confirmed they have proof of nothing. I've said we are happy for them to remarket and we wait if that's needed, their house is more straightforward than ours though they are using Purplebricks. But there's is detached, 20 years old, big bedrooms and a reasonable garden with parking / garage. Having said that ours is empty no chain if we remarket but its Victorian with lots of alterations though got through survey and mortgage fine.

@Silkiechickscat might be worth a chat with a new agent to see if they'd take you on with the current issue or if you'd have to wait until it fell through. Sounds like your agent deserves to be given notice. I certainly wouldn't use my agent again if this all falls through, they've done as little as possible to sell the house and the after sales service has been crap too.

I doubt our purchase would sell quickly if this falls through again but I feel like we've already used up all the good will so far. We wouldn't really want to be adding £10k stamp duty onto the price either as it's probably not worth that much in total.
I just can't stay in our current home any longer for various reasons and even another month would be pushing my mental health to the limit.

Sorry to hear you're still having issues @catfeets and @Silkiechickscat - I was going to suggest that it might be easier to have your buyers remarket if their buyers are having issues. It's a tough one though because waiting for them could be the quickest option.

@BrieAndChilli yes you don't have to have life insurance unless it's a condition on your mortgage (never heard of that though). When are you hoping to complete? We're the end of Jan as the vendor is going into a rental.

@propertyhell we are ready to go asap! We are in rented and vendors already moved out so now chain to negotiate! Date is up to us really.

We are completely ready to exchange and complete but it feels like everything is taking forever!! Why can't people just be quick about it. I phoned my estate agent for an update today and found out she has been part-furloughed, so she has the same workload but half the time in the day!! I was livid (not at her) but think then surely that should be reflected in their fee and that too should be halved.

@BrieAndChilli ooh I'd be looking to exchange tomorrow and complete a week tomorrow in that case.

Thinking of going back on the market or renting this house out so we can get moved out . Just so feed up.

Accepted offer in September. Just one house to sell. That is the entirety of the chain

Today our solicitor says they are being chased for replies to queries on searches but they have yet to be sent the questions .

the other solicitors have so far lost the first set of paperwork and forgotten to order searches, the buyers mortgage needed to be chased to high office .

Other people have joined this series of threads after me, sold, and moved out and we still are not even talking of dates

Hi everyone

I'm so down over our house. We put our house on the market in November (all estate agents have similar values) had a lot of interest off the bat. Had three offers (one quite low and two over asking) we went with the lower over asking as they were "cash" however when agent asked for proof to proceed they backed out - went with higher offer, they ended up backing aout due to medical issue (so they said). Lower offer was quite low.

Was early days so we left it, then Xmas - then we had a few views last couple of weeks. Had another offer (again lower than we wanted) - we then got a good offer but they wanted us to pay them £15k if the sale didn't go through before the stamp duty deadline (crazy right?) so we've said no.

We do need close to asking to move as we have seen a property - agreed a price but obviously can't proceed until we sell.

I'm just sick of it all and don't know what to do now. Feel like just taking it off the market and forgetting about it.

Any advice would be great xx

Hello! So I haven't joined this thread until now because I wasn't quite able to believe it might actually happen but... apparently we might be exchanging tomorrow, then completing the week after that! Our first sale fell through in March at the start of the first lockdown, we've had to find a whole new buyer and then a new house. I'm so excited but also terrified! Mostly because I can't quite believe it might all happen after the rollercoaster to get here, but also because we're moving with a toddler and a baby! Wish us luck, might have to get myself a glass of wine tonight, my nerves are awful

Sorry you're having such a difficult time @Dizzycow79 I don't have much advice unfortunately but I really sympathise, we've had so many obstacles and twists while selling. It's not been fun.