Buyers Sellers Roll Call 14

[PowerslidePanda]

New thread for anyone buying or selling houses at the moment - come join us!

The previous thread ran for about 10 weeks and in ordinary (non-stamp duty holiday) times, that's long enough to get a transaction through, so let's hope this thread sees lots of people finish!

[PowerslidePanda]

Sorry - don't trust their cover, not their storage!

[EezyOozy]

@PowerslidePanda We are just using the insurance provided by the removal company… I hadn't thought about doing anything different but that is a good point… our stuff maybe in storage for months.
I hope you exchange today! It's so nerve wracking isn't it… I'm barely sleeping at the moment. Keep us updated!

[ethelredonagoodday]

Morning all! Also hope for exchange today or tomorrow.

Good luck to everyone relying on progress this week. 🤞🏻

[january29]

Anxiously awaiting completion I’m trying to hold off phoning the solicitor!

[Winterwaves]

@january29 How exciting!!! Let us know! We have had everything our end ready for weeks, expecting exchange this week, recieved an email from our buyers solicitor asking more enquiries today!! After confirming all had been asked and answers accepted over a month ago! And chasing paperwork that had been signed and sent over a month ago. Our solicitor was far from impressed and we are beyond frustrated!! We have 2 primary aged children who have become so unsettled by this limbo part of the process. Living in a half packed house.

[ldnirish]

Update from me.

Still haven't exchanged today, hoping for tomorrow.

We complete on our flat on Wednesday at 8am, although our estate agent has asked if the buyer can come round tonight or tomorrow to look at the place again. What could possibly be the reason for this? I am worried that he'll turn up and see it empty and decide to pull out! Surely not.. right?

[PowerslidePanda]

Oh, that's so annoying @Winterwaves! No doubt you'll respond quickly on the enquiries, so hopefully it won't delay things too much.

You've already exchanged on your sale right, @ldnirish? If so, it would cost your buyer a huge amount of money to pull out at this point, so they're probably just excited and/or wanting to measure up.

We were hoping to exchange on Friday, but our buyer was waiting on her bank to do "final checks". Which still haven't finished. Buyer's solicitor was apparently on hold with them 2 hours ago. Starting to worry that there may be a problem...!

[Winterwaves]

@powerslidePanda luckily our solicitor is on it and fired back an email immediately answering them. Who knows what tomorrow will bring

[ldnirish]

@PowerslidePanda yes we've exchanged on our sale.. my mind has just gone into overdrive because everything that could go wrong so far, has!

Good luck, hope you do exchange soon. Our 'final checks' took about 5 working days so hopefully nothing to worry about!

[ethelredonagoodday]

We were hoping to exchange today with completion next week.
Our solicitor emails today in a flap saying our buyers' solictor's policy is to exchange and complete simultaneously due to covid. This is the first we knew about this.

Potential to cause us a load of grief, as it's been like pulling teeth getting to now and getting the upper chain to agree to this approach will be nigh on impossible. 🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️

Honestly, I'm about ready to just give up.

[EezyOozy]

@ethelredonagoodday I've been anticipating being asked to exchange and complete on the same day, and have made it clear to our EA and solicitor I don't want to/cant do this. Before completion we need to:ship some larger items to my mums (she lives near the place we are renting) , have movers and packers in for 2 days and everything out into a storage container, load the car with as much smaller stuff as I can manage plus two toddlers and a cat. If I did all this only for the sale to fall through ... I don't know what I'd do!!

Is this a common thing? What would happen if you just refused ? I like to think I could just refuse if our buyers solicitor tried this ? 😬 hope you get sorted!!

[EezyOozy]

(We are moving long distance into fully furnished rented )

[EezyOozy]

And the larger items are things like a double buggy that I can only manage without for a short time!

[ethelredonagoodday]

It's so difficult. Our buyers solicitor is now trying to suggest it's our solicitor who's dropped the ball and that we are being difficult. Gah!

[EezyOozy]

You're not being difficult. It's a very risky thing to do! Especially in a chain.

[Hmmph]

Are they wanting to exchange & complete in the same day because of Covid? It sounds very stressful and I don’t blame you for saying no! Could they have a Covid clause instead?

[ethelredonagoodday]

Yes because of Covid.

But our solicitor has discussed with the onwards solicitors and so on, and none will agree to simultaneous exchange and completion. So I have no idea what's next.

A covid clause has been discussed, but as I understand it we then need to get all parties signed up to that, which knowing how torturous it's been to get to this stage, I'm not hugely confident we could get over the line within the next few days! Argh!

[mummabubs]

Just sold our house today, which is exciting. Feeling happy to bw proceedable, and also a little anxious as there's so little property on the market near us to move to. Houses that are suitable tend to sell very quickly and for asking price or over so we just hope something comes up that allows us to get the ball rolling and not risk our buyers pulling out if kept waiting for too long for us to find somewhere.

[mummabubs]

@HumourReplacementTherapy

Thanks for the new thread.
We have sold but can't find a property. The market has completely dried up. We have an offer on one but despite us being cash buyers and going in top end, the vendors are still showing people round. So we reduced our offer back down to the 'from' price if that makes sense. Got to wait until next Tuesday to find out.
Now we have to move into rented so our buyers can complete for the stamp duty deadline and our ship has probably sailed.
The system is ridiculous
I am so stressed

This sounds really stressful and is exactly what we're worried about happening as the market has pretty much completely dried up by us too. We were lucky to get two asking price offers on our house and ended up going with the people who said they'd be more flexible about when completion happens as I'm also 30 weeks pregnant and really don't want the pressure of having to got into rental if it can be avoided. That seems unfair of the vendors that you've offered on- you're proceedable and gave them an offer above the minimum they're looking for so I'm not surprised you felt put out by them still showing people round.

[mummabubs]

Same position @umbel. It's really stressful, especially as we have a dog and the rental market here is just as dead as the sales market! Hope something comes up for you soon x

[Caroline147]

Hi everyone! Joining as another seller who hasn’t found anywhere to buy. We’re currently torn between offering on somewhere we like but don’t love, or just accepting we’ll have to go into rented. It would help to know SLDT plans too!

I’m also still nervous our buyer will either pull out or just move incredibly slowly- we accepted the offer back in late January, and her solicitor has only just put searches in But apparently she already has her mortgage offer fully agreed. Lots of silly questions already, and all coming via the EA instead of her solicitor. Assume her solicitor is pretty rubbish unfortunately.

Anyway, fingers crossed everyone else in the same boat finds somewhere to buy soon too!

[Musicaltheatremum]

Not been on here before.accepted an offer on our flat in London in early November. BTL landlord wanted to exchange 11 Dec. Put offer in on lovely house in Edinburgh subject to exchange.
Sellers of house in Edinburgh been very patient but we finally exchange tomorrow contracts all signed and half deposit through.

We can start missives tomorrow in Scotland and as we complete on London flat on 15/3 we can move in any day after this. It's been hell with lawyers just not responding then buyer at last minute wanted a month to complete as he needed to find a tenant!!! This was news to estate agent. We pushed them back 11 days as compromise but boy my grey hair is awful and I can't get to a hairdresser!

[Hmmph]

I’m really glum today as it appears our chain might be about to collapse at both ends because people are too focused on little details that cost pennies and aren’t focusing on the actual house they are paying/ getting thousands for.

So depressing. And as pps have said, there is nothing out there to buy.

[EezyOozy]

@Hmmph oh no, I'm so sorry. Might it all still turn out ok? What sort of silly things are people squabbling about? I hope you have more positive news ...

[Hmmph]

Thanks- sadly I can’t say as it’s (hopefully) too outing- there surely can’t be that many petty people!

It seems like the waiting might be over this week and we’ll hear one way or another... Fingers crossed it’s the good way and not the bad way it sounds at the moment.