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Original poster

Buyers Sellers Roll Call 14

998 replies

PowerslidePanda · 19/02/2021 08:39

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!

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Bells3032 · 23/02/2021 22:02

Hurrah!!! After exactly 8 months we have finally exchanged on my chain free flat being sold to a first time buyer. Just had the worst buyers and their useless lawyers. But it's finally done. Completion Thursday yay

ethelredonagoodday · 24/02/2021 08:10

Yey @Bells3032!!

Great news. Hoping we have similar news today.

InescapableDeath · 24/02/2021 11:08

So the Times is suggesting stamp duty will be extended - which should be fantastic news for us! Apart from the fact our buyer says they 'need' to be in by march 25 because of their rent.

I don't understand why they can't go onto a rolling rented contract for a bit?

alansbiggestfan · 24/02/2021 14:27

Hello, had an offer accepted this week so thought I'd join you. First time buyers so it's all a bit scary! Seller was looking at a new build so we were hoping it would all go through fairly quickly, but that didn't work out so will have to wait and see what they find. Desperate to move and finally have a proper garden.

Wineandbooks · 24/02/2021 16:44

Our solicitor has put forward a date of March 12 for completion, hoping this works for the rest of the chain. Still feels like there’s a long way to go yet Gin and Cake for everyone.

ethelredonagoodday · 24/02/2021 16:57

We have exchanged! Sooooo relieved!

Original poster
PowerslidePanda · 24/02/2021 18:02

Congratulations @Bells3032 and @ethelredonagoodday!!

Ooh, less than 3 weeks, @Wineandbooks - sounds like you're getting close!

Good point, @InescapableDeath - have you asked?

Welcome, @alansbiggestfan! Hope your chain falls into place soon.

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Original poster
PowerslidePanda · 24/02/2021 18:07

We got almost all the paperwork for our purchase to review today - just an electrical certificate outstanding and then if we're happy with everything, we'll be ready to exchange. Our seller's purchase isn't quite as far along though, so don't know timescales yet. Happy to see on the fixtures and fittings form that they're leaving all the curtains and blinds - when we bought our current house the vendors took them all, so we had to buy whatever we could get hold of quickly just to have some privacy!

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ldnirish · 24/02/2021 20:32

@PowerslidePanda all going well for you then! You must be so pleased.

Completed on our sale today. The relief is mighty! For all of about 2 hours, then we got notified that our purchase is delayed as they thought our proposed completion date of 5th March was the date of exchange only.

Still pleased we split our sale and purchase, just nervous as there is nothing else coming into the market.

Congrats to all the exchanges today, and those whose purchases relied on stamp duty deadline must be relieved - it's now June I hear?!

catfeets · 24/02/2021 22:10

We finally exchanged today! It's taken 6mths and after a shock last night when the buyer's solicitor started sending more enquires and asking for indemnity policies for no real reason, we were very surprised when we got a call at almost 5pm saying we'd exchanged.
We haven't been able to get time off work to pack so we're in no way ready to complete on Friday but we don't want to risk losing the sale.

EezyOozy · 24/02/2021 22:48

Congratulations to everybody who's exchanged!

Does anybody know how long mortgage applications are taking at the moment? We are going into rented so it doesn't affect us directly ....But the only outstanding issue with our sale is our buyers buyer and his outstanding mortgage application (because he's got a new job). We were told he applied for it on the 18th of January and it was expected to take four weeks (This is what our estate agent told us, I'm not quite sure where this timeframe came from)… So it seems to be taking an excessively long time. Had a chat with our agent today and said I'm getting very concerned! We are on 18 to 19 weeks since excepting the offer on our house now. Thanks

IWBAGE · 25/02/2021 07:12

It took our lender 3 days, and my DH was 2 months into a new job. We had all our paperwork ready upfront for our broker though, we were very organised.

whyamidoingthistomyself · 25/02/2021 09:07

Just reporting in. Lost track of how many of these threads I have been on,

put house on market august , sold September, exchanged and completion yesterday. It does happen , I am in shock

Homeless for a while as didn't try to join up sale and purchase , thinking initially that We didn't want to mess our buyer around with waiting as we knew it would be March at the earliest for our house ... it will only be a couple of weeks now , but we didn't go for a last moment change of heart as we seen on here how it messes with people to change your mind as you go along

ldnirish · 25/02/2021 12:11

Morning all! Well, afternoon..

Need some advice please. Just found out today that our purchase is insisting on simultaneous exchange and completion. Ahh!

We've already moved out into temp accommodation/storage. It's not too much to ask for us to request 2 weeks between exchange and completion, is it?

What are our choices? Agree to it or pull out? Has anyone else been through it and it's been ok?

Just can't believe this is happening!

ldnirish · 25/02/2021 12:25

@why - just realised you are doing this!

Fleurchamp · 25/02/2021 13:01

We have exchanged! It has taken days....

It was only a small chain (3 houses) but the problem was removals - we eventually found out that we had lined up the same company as our sellers and so every time we called to see if they could do that day, so did our sellers and so one of us was always missing out - the annoying thing is they knew this and each time I called, I mentioned that our sellers were also using them and so we needed a day they could do both Angry

Anyway, it is all sorted out now and we complete on the 18th.

I felt very flat after exchange though and DH looked positively sick - I think it is the money side of things, we have been saving for this for years and it was quite nice to have six figures sitting in the bank.

I plan to go for a walk around the new area (and past "our" house) later to see if that helps.

whyamidoingthistomyself · 25/02/2021 13:02

It is horrid in some ways as you are basically having to prep everything on trust , so our furniture was taken to storage before the house was sold which would have been expensive and slow to get back again if it all went wrong

But as the seller you will have had less up front expense than the buyer

And most of the utilities seem to be able to cope /have some pity. Royal Mail is the worst - they need 5 days notice

And at least it happened. It's a rubbish process anyway

JustCheesz · 25/02/2021 13:14

Just exchanged with completion next Thursday.

Can't believe it really after all the ups and downs and I am aware that I've had it much less stressful than most.

Thank you for all the support that has been given.

ldnirish · 25/02/2021 13:28

@JustCheesz - hooray!! You give me untold amounts of hope. Enjoy your new home :)

Original poster
PowerslidePanda · 25/02/2021 14:14

Great to hear about lots of good progress - congratulations to everyone on exchanges and completions!

@ldnirish - I think 2 weeks between exchange and completion is perfectly reasonable - but I know you're in the same situation as us (living with family/stuff in storage) and just wondered why you need that time? We insisted on it for our sale to give us chance to move out, but would be ok with same-day exchange and completion for our purchase because there's nothing for us to do other than line up movers and it's not too much of a problem if that ends up being a few days after (we can always start painting etc in the mean time!) Hope you don't mind me asking - just wondered if you've thought of something that I haven't!

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ldnirish · 25/02/2021 14:23

@PowerslidePanda don't mind you asking at all! I guess I'm reaching a point where we need that reassurance and have something legally binding.

We can't stay with family forever and will need to make plans to move out no matter what really. So frustrating!

Can't understand how my solicitor can confirm that our sellers are committed yet refuse to make that legal commitment to put our minds at ease

ethelredonagoodday · 25/02/2021 15:22

We had the same happen to us @ldnirish at the start of this week. Our situation was different though in that our solicitor and those above us in the chain said no outright to simultaneous exchange and completion so that forced our buyers to instruct their solicitor to override their policy.

Is it due to covid that they're wanting to do them at the same time?

whysmidoingthistomyself · 25/02/2021 15:57

It could be covid concerns but there are other reasons for simultaneous exchange and complete...you should be told why

Badgerbadger22 · 25/02/2021 16:00

Anyone remember me?? We are supposed to be exchanging today.

It isn’t looking likely now considering it’s 4pm.

We had agreed to complete tomorrow and now the solicitors are in agreement that if we can’t exchange today then we can exchange & complete tomorrow simultaneously instead.

The van is booked and everything is packed.

Never been so stressed in my life - can anyone reassure me??

Buyers said if we don’t complete tomorrow then they’ll pull out. We also had to book time off etc

Original poster
PowerslidePanda · 25/02/2021 16:12

@ldnirish - Ahh, I see, thank you. I'd assumed that doing both on the same day would mean completion would be brought forward to the date that you'd exchange, but you're right - it's more likely that it would mean exchange being delayed (despite everyone being ready) instead. So yes, totally get why you want the commitment!

Oh, that sounds really nerve-wracking @Badgerbadger22! But I'd assume it's possible that you've already exchanged and they just haven't had chance to call and tell you yet. Fingers crossed you get some news soon (and good luck for tomorrow)!

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