Buyers Sellers Roll Call - 13

[lachy]

Staring a new thread!

Come and say hi 👋

When do people start packing? We are hoping for exchange this week but communication in our 3 house chain is like talking to a brick wall!! I have lots of boxes and started packing then had a sob worrying that if it all falls through I'd have to unpack it all again. So now we are living with half filled boxes scattered in all the rooms.

@BrieAndChilli oh no that the stress goes on for you but still sounds very hopeful. I honestly thought ours wasn’t happening today as didn’t hear anything till 3:30.

@Winterwaves packing is so hard we only have a small house so no where to put boxes when they are full we’ve done a bit but tried to focus on the jobs that need doing like sorting and tip runs as hopefully that will help!

@january29 many congrats, we still haven’t exchanged, so bloody fed up, we will be pulling out if exchange doesn’t happen this week. 2/3 of our house is packed up, after watching the parliamentary debate in SDLT I feel confident that additional measures will be put in place. Our house is very desirable I know we won’t have any problems getting a new buyer and finding a new Estate Agent.

@BrieAndChilli fingers crossed today has been the day of exchange.

@Roselilly36 sorry to hear you’ve not exchanged hopefully you will but if not it won’t be long before you resell.

Well we’re still dealing with the buyer playing hard ball. She came back to the EA yesterday saying she was disappointed we won’t negotiate and needs to consider whether to proceed at all (!) and will let us know by Friday!! We’ve stuck to our guns and said still no price reduction but will remove the garden shed (the only thing we had so far said no to doing/paying for because we’re using it!). We’ve stipulated we want a response by 9am Thursday because if she wants to pull out we need to relist ASAP to (hopefully) stop the chain collapsing.

Hi
Bought and sold on friday
I'm absolutely convinced it's going to all go wrong after a disastrous attempt at moving last year
We ended up taking an offer £12.5k less than we paid for our house this time but it will be worth it if it's successful

Yay! We have exchanged today. Been a very stressful few days, but we have got there. Too everyone else in the same position, keep the faith, it’s stressful but you will get there. Good luck to everyone for moving day.

Our buyer wants to complete by end of March , the lawyers are doing their work , we’ve filled in the fittings and fixtures and waiting ...
Viewed a house today , I really , really liked it and can see myself living there
DD ( 23 ) found it a bit creepy . But she will be living her own life as soon as Covid goes away
DH didn’t like it at all
It’s been on the market since 2019 , 4 ( yes 4 ) sales have fallen through
Last offer was for over asking price , the agent said even if we had an offer accepted , the vendors would instruct then to keep it on on the market
Sadly , We’ll have to pass on this one I think

Not exchanged here, no further update, hoping doc arrived and can exchange tomorrow and complete on Friday as planned. Just final clearing of house atm.

Glad you've exchanged Roselilly

Amazing @Roselilly36 it’s such a journey. You think it’s never going to happen and then it does! Congratulations. When’s completion?

We are hoping to exchange this week/complete next but it looks like it’s not happening. Vendors have been slow to get paperwork on their extension to the solicitors, some bits are still missing, so there may need to be some for of indemnity insurance.
We want evidence the boiler has been serviced as they’ve not touched it in years. They’ve said no as it’s not legally required (!).
Not had the written results of the full survey back yet either, but we have been told verbally it’s fine.

I am now thinking I’d rather stay in the tiny house we are in. I could redecorate the front room, buy a new sofa, and get a new car. Much less stressful.

Thanks all, we complete 11 Feb @Silkiechickscat good luck, hope you exchange tomorrow, you will get there, really stressful I know.

@LaMariposa you sound like you are nearly there, stick with it, if you really want to move, good luck.

@HumourReplacementTherapy

Can I ask a question Re exchange of contract? If we are 'cash on completion' buyers what happens regarding a deposit on exchange of contracts? I've not considered it! It might not be a problem in that we may end up having to move out so our buyers can complete by 31st March so then we'd be cash buyers but I certainly don't have thousands in the bank. Do we use the deposit our buyers hand over? Does any of that make sense!

I asked this question of our solicitor last week. She said basically any deposit you are receiving as part of the exchange for your sale fulfils some of the deposit requirements. Then basically, it's accepted process that on completion the remainder of the deposit goes through with the rest of the purchase funds. However, if for whatever reason the purchase did not complete, you could be sued for breach of contract by your seller, for the remainder of the deposit...

I think... 🤪🤣

We have still not exchanged. Top chain still waiting for underwriters to approve their mortgage. And two queries to be answered. We are told this is literally only days away. But our target completion of a week on Friday is looking less and less likely.

After 6 months, I feel like we are inching forward towards exchange, but bloody hell, it's slow going...

Thank you @ethelredonagoodday
That's a relief! You know when you suddenly have one if those fuuuuuuck!!! Moments

Hi all - can I join please?

We accepted an offer on our house at the end of October. Our buyer is in a chain of 3, but not living in the property they''re selling - so breaking the chain - and was 3 weeks away from exchanging on that. More than 3 months later, that still hasn't happened... We found somewhere to buy mid-December and for various reasons, we're breaking the chain too - moving in with family in between.

The only thing outstanding on our sale is some enquiries - but of course, if the bottom of the chain isn't ready then it's kind of irrelevant. I've heard today that they're going to exchange this week - except this is at least the 4th time I've been told that (the first time being in November). So I'm not holding my breath!

Survey and mortgage are both done for our purchase - waiting on searches and enquiries. But there's one more link in that direction too - not sure how that's progressing at the moment; more focused on the bottom of the chain!

Congratulations to those of you who have exchanged recently! Good to know there's light at the end of the tunnel!

@HumourReplacementTherapy

Thank you *@ethelredonagoodday* That's a relief! You know when you suddenly have one if those fuuuuuuck!!! Moments

We had a similar panic last week... errrr, we don't have that money just lying around. 😬🤣

The deposit is paid by the first person in the chain and is moved up the chain, so only the first person has to pay the deposit. Our purchase is cash from sale, the only thing we paid in advance with our solicitors was for our searches. Good luck everyone.

Still no exchange date for us, we were hoping Friday but this is feeling less likely. We are hoping for a week between exchange and completion. Do you feel more secure and assured once you've exchanged? I've felt like an anxious, nervous wreck for months and cannot wait to feel confident is all going to be OK

I will feel more relaxed after exchange as then you are guaranteed 10% even if they pull out but depends on your circumstances if you are buying as well you could be worse off. But its rare for things to fall through between the two whereas before its not uncommon and there's no consequences.

We are still waiting to hear about exchange, its supposed to be today, but have heard exchange dates mooted since mid December so we will see. This seems the most serious but who knows. Everything is ready just buyers-buyer needed to send one document on Monday to their solicitor which they said would arrive on Tuesday.

We have just put an offer in no chain on both sides so fingers crossed it all goes smoothly Halifax have said mortgage offer should be 6 weeks our bloody solicitor has put an auto reply email so going to have to call him to check he has space for us we really want to move.

We've still heard nothing about exchange. Our buyer's solicitor still won't reply so we can't get a definite answer.
I flip between wanting to exchange ASAP so that we can get assurance and be able to book vans etc, and worrying that if we exchange and it falls through, the deposit we'd lose is 3 times the value of our buyer's deposit and we can't afford to lose that amount of money if it all goes tits up at the last minute.
The others in the chain don't seem as invested as we are and they haven't paid out the huge amounts that we have, so I can't be sure they'll actually complete. Our seller isn't buying another property so they're not really losing anything.

Hello all. Around 20 weeks in and thought we'd be exchanging. The vendor has fibbed on the property information form and searches have thrown up something of a deal breaker. I do keep checking to see I haven't been the subject of a thread as a 'nightmare' buyer. They are either babes in the wood innocents who are just a bit clueless or trying to knowingly offload a massive risk. I've no idea how it will all be resolved. I suspect I'll end up sadder and poorer and still at home.

Good luck to us all.

Our buyer’s still not yet given us an answer about continuing as we won’t reduce the price (she has until 9am tomorrow) - but I’ve still had an email today via our solicitor asking us to confirm when new fencing is installed so that she can come and check it! Along with more moaning about the bloody garden shed. I can’t tell if I’m now being over sensitive because I’m pissed off and anxious or if she’s just increasingly a CF! Are we just too laid back? We’ve not asked our vendors to do anything like this and wouldn’t dream of specifically arranging to inspect it afterwards. We’ve gone with it’s ‘sold as seen’, we want to replace the fence or whatever, we do it once moved in.

Eurgh, house buying/selling is some weird form of torture!