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!

@hassletassle

I had a call from our solicitor at about 4 o'clock saying we could exchange today and our buyer still wanted to complete on Friday this week . I reminded him that for us to complete on Friday the children and I (two toddlers) need to leave tomorrow (for a long drive to Scotland with a car load to take to a short term rental) so that movers and Packers could have two full days on Wednesday and Thursday.

I also reminded him that as I didn't hear anything by the end of the day on Friday last week I released our moving slots (Because the company told me they needed to know by the end of Friday), and I did tell everybody about this at the end of the day on Friday.

Our buyer is now up in arms that we will cannot complete on Friday. We have been ready, as ready as we can be, since Jan, And I don't think it's fair or feasible to give us less than 24 hours notice to leave the property.

I've made it sooooo clear that we needed to exchange on Friday so I could have the weekend to get ready… I've suggested exchanging tomorrow for completion next week but our buyer isn't very happy.

I'd be the same. Why do they keep us hanging until the last minute then expect us to jump!

I'm seriously fed up of emailing my solicitor and having no reply.

@hassletassle that's so unreasonable of them. You did your best and clearly communicated with them so they'll just have to suck it up! Fingers crossed you can complete next week.

We've been told since last Wednesday that our solicitor is literally just waiting on a drainage search to come back and then we're good to arrange exchange and completion dates. Given that I'm due to have a c sec in 3 weeks time it would be great to move before then 🤦🏻‍♀️ We did a second viewing of the house this afternoon, my husband left filled with excitement, I was more like panda in that I just felt overwhelmed by how much there is to do. Literally every single room needs a complete decoration overhaul as nothing's been touched since the 80s and we plan to refit bathrooms and knock through kitchen /diner too and it needs a new boiler (also untouched since the 80s).

Much earlier in the process than lots in the thread, but already feeling stressed by the whole thing! Went on the market Thursday and had 3 viewings in a row, all seemed positive but it's so hard to tell (we WFH so were around for the viewings).

Although we have other viewings lined up I'm anxious that we're not going to get any offers... We're doing "offers in the region of" and are genuinely open to offers (weird property with quite 25% variation in valuations (£200k-£240k+) so we went in the middle) but I don't know how willing people are to put in lower offers... We'd accept anything above £210k, but ideally need £218k to be able to get 25% deposit for our planned next purchase without touching savings.

Only one bit of negative feedback, but it's more of a style choice than anything fundamental.

Tomorrow is going to be a long day waiting for the phone to ring...

@ballsdeep

Why do they keep us hanging until the last minute then expect us to jump!

I literally said those words to the estate agent today! Our buyer is saying "everyone on the chain will have to agree a new completion date and amend paperwork
for mortgage funds to be released etc etc, why can't they just complete on Friday..."

I have said

a) well they should have got their act together last week
b) we could have the house cleared by wed lunchtime so if everyone else in the chain wants to complete this Friday, and our buyer can go into an Airbnb for 5 nights, then all of that could be avoided and she can't complete on her purchase from us next wed.

But she won't move on any day other than Friday and she won't entertain staying somewhere for a few nights.

So I'm leaving it to the estate agent to try and mediate tomorrow!

@InescapableDeath I'm so sorry you didn't exchange today either 😡

@Andthenanothercupoftea

Much earlier in the process than lots in the thread, but already feeling stressed by the whole thing! Went on the market Thursday and had 3 viewings in a row, all seemed positive but it's so hard to tell (we WFH so were around for the viewings).

Although we have other viewings lined up I'm anxious that we're not going to get any offers... We're doing "offers in the region of" and are genuinely open to offers (weird property with quite 25% variation in valuations (£200k-£240k+) so we went in the middle) but I don't know how willing people are to put in lower offers... We'd accept anything above £210k, but ideally need £218k to be able to get 25% deposit for our planned next purchase without touching savings.

Only one bit of negative feedback, but it's more of a style choice than anything fundamental.

Tomorrow is going to be a long day waiting for the phone to ring...

This is where I’m at. I know others like mine have sold, and are in demand in the area, but I just feel like no ones going to want it 🤣🙈

for those further down the line who are about to exchange/complete - how long has it taken from the point your chain was completed and ready to go to exchange?

I want to set my expectations as last time we managed it in about 11 weeks from offer accepted to completion but I'm not sure how realistic that is?

Hi @Panda368 , we are on week 25. We are the top of a chain of four.

@hassletassle 🙈oh god. Have the searches been slow or have there been any big specific hold ups?

We are second in a chain of 4 moving into an empty house. I suppose this would count as officially week 1 so a looong way to go I think

We have had long periods of radio silence from various people in the chain at different points, I'm not really sure what the hold-ups were at some points....., somebody got a new job at one point which means that they had to do their mortgage application again, so that cost us six weeks… I could write a book honestly.

I have found that every slight delay with a household in the chain can take weeks to rectify because communication by the solicitors is so slow! I know the first time buyers at the bottom of the chain insisted on a final viewing immediately before exchange, this was a few weeks ago, and their vendor is refused and the solicitors had to negotiate and put an additional clause into a contract, so that cost us a few weeks.

I do think we've been particularly unlucky though.

Hi - I think I posted a while back, then life's just got in the way. Things seemed to be going ok but I think I've had enough now.

We had our searches back on the property we were buying and they've shown there are mine shafts close to the house (within the fairly large) grounds of the property. As we want to extend the house it's really put us off buying it.
There was another property we were interested in that we went back to offer on - it now apparently has an offer (higher) that the owners are likely to accept 🤷🏻‍♀️😭

The people buying ours had their survey and are concerned about the roof - it's a nearly 100 year old property, where every other house in the street is the same - but they want to get further info (which I understand) but if they think we are going to the reduce the price they can do one - especially now we haven't got a house to move to and we really don't want to rent if we can avoid it.

@hassletassle

I had a call from our solicitor at about 4 o'clock saying we could exchange today and our buyer still wanted to complete on Friday this week . I reminded him that for us to complete on Friday the children and I (two toddlers) need to leave tomorrow (for a long drive to Scotland with a car load to take to a short term rental) so that movers and Packers could have two full days on Wednesday and Thursday.

I also reminded him that as I didn't hear anything by the end of the day on Friday last week I released our moving slots (Because the company told me they needed to know by the end of Friday), and I did tell everybody about this at the end of the day on Friday.

Our buyer is now up in arms that we will cannot complete on Friday. We have been ready, as ready as we can be, since Jan, And I don't think it's fair or feasible to give us less than 24 hours notice to leave the property.

I've made it sooooo clear that we needed to exchange on Friday so I could have the weekend to get ready… I've suggested exchanging tomorrow for completion next week but our buyer isn't very happy.

Wow - reading all the stuff about exchanging - it's all so stressful.

I wish there was an easier/better process for buying and selling houses

@Panda368

We sold twice. This time around it was in November, we offered on our vendor's property in early December. Vendor had found a property that is the end of the chain on Jan 5.

We are now due to exchange today (again...). I suppose it's not the longest sale in the world but it could've been quicker. The vendor is buying from a divorcing couple and apparently that stopped some of the initial searches/enquiries being sent out due to arguments, and that then delayed the rest of us.

The longest wait was on a land registry query (vendor's purchase needed an extra garage title to be added) and we felt very powerless there as it wasn't our problem to chase.

There was a mix of other issues too. Stamp duty deadline shenanigans (seller promising to move out by end of march then changing their mind), buyer pressure (deciding with no notice she had to move in mid-March as she wanted to schedule putting carpets in). But nearly there now.

EXCHANGED!!!!!

It turns out that my solicitors getting the sale price wrong (sigh, we corrected them in January) was what slowed yesterday down.

Hoping someone can help me, I'm going mad!

We're getting so many mixed messages from the top of our chain; they're not moving until their house is built, next thing their moving in with family or waiting to give birth. It is SO unclear. And neither our EA or solicitor is any the wiser.

Am I totally overstepping the mark if I just ring the top of the chain estate agents and ask whats happening?

@Panda368 unless I’ve got confused I think we are working to similar time scales, ie offer accepted around the same time and trying to beat stamp duty! We are so prompt with everything, feels like everyone else is trying to sabotage us. I think you even asked the question who should we be hassling for info the EA or the solicitor. We emailed both of them to ask that exact question.

@floofycroissant I agree with you about the Chinese whispers.
The EA told us the people buying ours were first time buyers, a lovely couple, they needed to sell their car to prove the deposit.

I

@InescapableDeath wooohoooo!! Well done

Woops posted too soon.

I googled the name from the memo of sale. It turns out he is a property developer. I mean...
is that total weird lie? manipulative? Confusion? Incompetence? Ahhh

Hooray @InescapableDeath!

@InescapableDeath

EXCHANGED!!!!!

It turns out that my solicitors getting the sale price wrong (sigh, we corrected them in January) was what slowed yesterday down.

🎉🎉🎉

Woohoo @InescapableDeath

I've had positive feedback from yesterday's viewing. He's going to look at two more flats but had loads of questions and is likely to want a second viewing.

Good luck to everyone, this has been such a surprisingly stressful experience, I hope it’s smoother for you all! @hassletassle hope it gets sorted soon. Our buyer was v demanding at points too and it really added to the pressure.

So pleased for you @InescapableDeath!

All quiet here. Awaiting a response to our response to enquiries re our sale, and searches due on our purchase due back any day. So we wait.

Thanks @InescapableDeath when do you complete ? We've had a call from the estate agent to say everybody has agreed to exchange this week (hopefully today or tomorrow) with completion on the 23rd and people were just trying to secure removals… I'm really hoping for a call before 5 o'clock to say we exchanged but it might be tomorrow. I felt confident enough to start packing now. We are having a packing and moving from do most of the big stuff but I need to get stuff for me and the children to go up to the rental property, we might go on Sunday

Completing on Monday (!) 19th, so need to pack a LOT. We already had a storage unit for most of the contents of the garage but I'd been too depressed about it all to do much more. All books are packed and most of our bedroom, but still have to do living/kitchen/bathroom/kids rooms!