Page 9 | Buyers Sellers Roll Call 14

PowerslidePanda · 2021-02-19T08:39:24+00:00

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!

Winterwaves · 01/03/2021 15:18

We are due to exchange this week and complete next week, our buyers have just contacted the estate agents wanting another viewing. The whole house is a mess of half packed boxes, dismantled furniture and piles of clothes. I really don't want to have to get it 'ready' for them to come and measure up, I'm also working from home and home schooling the children. Would I be out of order to say no? They have to travel 4 hours to get here also

Didicat · 01/03/2021 16:07

@PowerslidePanda - we won’t hear till tomorrow as they want to go ahead with second viewings....... we went in at £5k under asking, we are ready to go so will depend on what the other viewers say.... I hate waiting, we could go to asking but no more. It is sensibly priced, so it might go over trying to to fall in love.....

@Winterwaves good luck, they are not going to expect it to look show
house ready however I understand why you wouldn’t want the interruption, can you ask what their purpose of visit it?

@whyamidoingthistomyself if only all house buying could be so chilled I hate how stressful the whole process is! Enjoy the feeling whilst it lasts.

Hmmph · 01/03/2021 18:36

Another stressful week here with every bit of good new on progress followed by something stressful. I does feel like we are getting there, although I am not expecting to exchange until next week.

Does anyone know what would be considered an unreasonably long time between exchange and completion?

Fingers crossed for Rishi on Wednesday. Once he’s announced an extension, I will feel like I can breath a bit easier. We hopefully won’t need the extension, but 31st is so soon now we’re in March!

Winterwaves · 01/03/2021 21:13

We agreed to a viewing in the end as the buyer is refusing to exchange until they have seen it again. Which makes me think he's having cold feet... After 5 months. I feel sick with worry!!

midgedude · 01/03/2021 21:17

Some solicitor advise seeing immediately before exchange and some people have had bad experiences when the place has been damaged, neglected or messed around badly between viewing and exchange

midgedude · 01/03/2021 21:17

2weeks between exchange and completion is normal

Mumtothelittlefella · 01/03/2021 21:29

Due to exchange in three weeks and it’s all fallen through. The property is has tenants in who were given six months notice and had found somewhere to move. On Friday they emailed to say plans have fallen through and they are staying. That’s it. No other information. The vendor and tenant are speaking and we’re having to step away from it all. What a mess.
Back looking again and not a huge amount on the market but need to complete quickly so fingers crossed for SD extension.

Candleabra · 01/03/2021 21:39

Try not to worry @winterwaves
5 months is a long time for a buyer as well as a seller. Probs just a quick check to make sure you haven't trashed the place before exchange.
I'm very surprised our buyers haven't requested similar (I would).

notinthestarsigns · 01/03/2021 21:40

Hi all, is it normal for a seller to say that they will only accept an offer on the basis that you agree not to attempt to negotiate after the survey? I understand why they would say this but it’s a pretty difficult one for the buyer given you have no idea what the survey will come back with!

midgedude · 02/03/2021 07:19

Unusual

May mean that there's a big problem , so in that case you would have to walk away
Or
It it may mean that they don't want another person trying to get money off because the woodwork will need painting at some point and other trivial and obvious issues

notinthestarsigns · 02/03/2021 07:36

Thanks @midgedude. I thought it was unusual. There is a lot of interest on the house, went on the market on Friday and they have 11 viewings yesterday and today, and one person offered full asking price before viewing it yesterday, so I think they just don’t want to go with an offer for the buyer to then try to negotiate significantly after the survey given they are in a strong position. If the survey did flag up anything major I guess you could still walk away after the survey if they wouldn’t budge? You are not tied in until exchange even if you agree to this now are you?

Hmmph · 02/03/2021 07:56

@midgedude

Unusual

May mean that there's a big problem , so in that case you would have to walk away
Or
It it may mean that they don't want another person trying to get money off because the woodwork will need painting at some point and other trivial and obvious issues

I’d imagine it was the latter. If there was a big problem which would come up in the survey, then all that will happen is that they’ll keep having people pull out after the survey. The second one just gets rid of the irritating people who want to renegotiate down, when the seller could have accepted someone else’s offer in the first place.

Also would indicate they have priced to sell (or think they have)- especially with all the interest.

Who offers full asking price on a house before viewing it?!

midgedude · 02/03/2021 08:13

Yes you can walk away after the survey with no qualms

Given the interest it does sound like they want to avoid time wasters

Didicat · 02/03/2021 08:20

@Winterwaves hopefully it goes well and it’s just a formality.

@Mumtothelittlefella sorry to hear about your buy falling apart, would you consider going into rental so you can complete the sale if you can’t find anywhere to buy?

@notinthestarsigns thank sounds bonkers offering before even seeing the house. We went to see one on Saturday and only been on the market 4 days, agent said would be best and final bids on Monday as they already had 4 offers already! luckily it was not for us. But did get us to offer on the house we liked without booking a 2nd viewing. Not renegotiating after survey, I suppose they are setting people expectations now, I’m sure if something unexpected came out of survey then they would have to consider it. Although we had a quote for £35k structural work after survey and got offered £3k off. We let them keep the house. So maybe consider the age of the house and the like hood for issues......

notinthestarsigns · 02/03/2021 08:33

Thanks all. I agree, @Didicat @hmmph, I can’t understand why you would offer before viewing, apparently they were just desperate to get into the area for schools but the seller seemed a bit suspicious of it I think and said they will see all the viewings that are booked in then see what offers they have and make a decision at the end of the week. The house has only been on the market since Friday, it’s just crazy round here, never seen it like this before.

ldnirish · 02/03/2021 09:33

Morning all

Hope everyone is ok, I'm sorry to hear about plans falling through etc. going to have a proper read and catch up of thread later!

I wanted to ask if anyone has experience of reapplying for the same mortgage to get a better rate? Would save us over £100 pm in interest, and our purchase is delayed until at least end of March, if not longer. It's through a broker who has asked for bank statements and payslips (fine). Do they re-evaluate the whole case or just the last 3 months?

Wondering If it's going to take weeks!
Also worried in case it cancels out our current mortgage offer

TinyGlassOwl · 02/03/2021 14:03

Hi all, hoping to join this thread as I have a feeling we might be in for the long haul with our house-buying!

FTBs, AIP, healthy budget, willing to compromise (a bit!) but looking in an area 90+ mins away so very restricted on viewings and realistically we can only ever view on a Saturday. The local market is busy so everything nice goes before we have a chance to get there and look at it.

We can't go into rented in the area just yet due to jobs and school so it feels like a bit of a waste of time at the moment, but equally by August we will be homeless anyway so want to get cracking asap!

I'm working on my schmoozing techniques with estate agents in the hope we might get the heads up on good properties before they hit Rightmove

Thingsthatgo · 02/03/2021 14:16

We’ve exchanged! I thought it was going to drag on for days, but we made it! Moving Friday 12th. Any tips??

InescapableDeath · 02/03/2021 15:32

Our purchase is very likely to fall through now. We are in a small chain of three houses and a FTB. Our vendor's purchase (end of chain) isn't quite ready yet and our buyer is going crazy.

Just heard she has been ringing our estate agent multiple times a day, bringing the completion date she wants forward every time. Apparently her rent renews for six months at the end of march. Problem is, she didn't tell anyone until a week ago! Today she has been saying she wants to complete by March 12th.

The estage agent has had enough and neither us or our vendor is in a position to move into rented, so he is giving the FTB an ultimatum to either accept the move will probably be in April, or walk away - by tomorrow. Then we have to remarket our house and hope we can find a new buyer before our vendor remarkets :(

It is so upsetting and frustrating after so long (first went on market in Sep, sold then, buyer pulled out, sold again in Nov, had to find a new vendor, finally get almost to exchange and then this).

We don't want to pay stamp duty but have been planning for that eventuality. Why is the buyer assuming any house purchase will definitely end to match their rental agreement?!

Caroline147 · 02/03/2021 16:27

Well, after moaning about having so many offers rejected, we have finally had one accepted! But now feel worried we paid slightly over the odds- but it is hopefully a very long term home, so trying to just be happy. Estate agent still hasn’t moved it to SSTC or under offer yet though, arghh!

And it looks like our sale is moving along nicely, with searches due back next week for our buyer. After seeing so many sales sadly fall through on this thread though, I’m not counting my chickens just get! So sorry for those of you having a hard time :(

Mumtothelittlefella · 02/03/2021 16:42

Buying a house really is one of the most stressful times isn’t it!

We can’t move into rental - I think if we don’t buy now we’re going to get priced out. So it’s now or never situation. It’s a second main home so an odd set up. Not a holiday home - we work in two different locations and DC will be starting school in the new location.

We are actually buying without viewing too. And today the agent has come back to say it might be salvageable so I feel very mixed about it now.

Wineandbooks · 02/03/2021 17:22

Getting beyond the point of frustration with all this now. We are ready to go, we suggested a date of 12 March a week ago and have heard nothing from either side (3 in chain). It’s stretching on into month 7, our sellers are getting tetchy and I’ve a nasty feeling our buyer is going to pull out. I’m not sleeping and making daft mistakes at work because I can’t concentrate. I am wondering whether it is all worth the hassle. Stressful isn’t the word.

cathybates · 02/03/2021 19:09

I’m just testing whether I can post as did a long ranty post yesterday and it didn’t work!!

cathybates · 02/03/2021 19:12

I’m bloody fed up with it all. Enquiry after enquiry after enquiry. I have a newborn (well he’s 4 months now) and it’s tough. And we are hsving to move out of our rented into other rented at end of month so also dealing with that/packing. It just seems a never ending stream of enquiries and I want it to end. I think if he extends the SD holiday it just gives the buyers solicitors more time to raise as many issues as possible. I can’t do this to myself or my family any more.

Winterwaves · 02/03/2021 20:42

Sorry to hear so many people are having problems, it really is the most stressful experience, I'm never doing it again!
Viewing went ahead today but we've had no feedback despite asking. I've been on the verge of a panic attack all day, to come this far and about to exchange and then feel it could all fall through 😩 Hopefully we will get some answers tomorrow