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Buyers Sellers Roll Call 15

999 replies

MotherofHeathens · 27/04/2021 09:59

Because we're nearly at the end of the other thread and still inflicting this torture on ourselves...!

OP posts:
BabyPotato · 20/05/2021 12:03

Congrats @lazyakita! I'm kind of self employed (freelance with very on and off work arrangements) and I looked into getting a mortgage as a self employed person and it made me very nervous! I'm pleased yours went ok. Smile

We have more viewings today. Eek.

Panda368 · 20/05/2021 12:19

@wisteria90 I think they say it takes about 5 working days for the buyer to get the report - depending on the surveyor.

Ours was last Thursday and the report arrived last night. We have no concerns so wont say anything.

After our buyers survey the time line was as follows.

27 April - surveyor came round.
5 May - report written - or that was the date on it.
13th - Buyer requested reduced price based on what was in the survey which we then negotiated and resolved by 14th.

wisteria90 · 20/05/2021 13:45

Thanks @Panda368 that is so helpful! It's so useful to have a sense of timelines and when I can start to relax! I really appreciate it :-)

Smokeahontas · 20/05/2021 16:21

Just heard my mortgage application has been approved, subject to their survey. Phone the EA of the house I’m buying to let them know the appointment is in the off.

SpnBaby1967 · 20/05/2021 18:00

Solicitor sent our queries from our buyer today (literally at 16.55pm) . Most is pretty simple stuff but apparently the title deed shows we should be paying a farmer rent Grin we've lived here since 2006, and are the 3rd owners of this 1970s house and I've never had a farmer come knocking for his arrears. Grin Isnt it odd the things we find out. I don't remember any mention of this when we bought the place.

We've sent all our responses back so hopefully thats sufficient. We do need to service the boiler, but it is due anyway in a few months so we'll just book it in early.

Newhousehope · 20/05/2021 18:46

We booked a boiler service @SpnBaby1967 and ended up paying £585 for it to be fixed 😩😩

Hopefully the farmer doesn’t come a knockin’ 🤣

SpnBaby1967 · 20/05/2021 21:33

@Newhousehope

We booked a boiler service *@SpnBaby1967* and ended up paying £585 for it to be fixed 😩😩

Hopefully the farmer doesn’t come a knockin’ 🤣

Luckily we have boiler cover if it does show up any nasties.

There did used to be a farm on this estate, fairly sure it's now a yuppie executive conversion.

lazyakita · 21/05/2021 09:42

@wisteria90 & @BabyPotato thank you so much!

@wisteria90 I'm a very anxious person, too. I'm finding it very hard to celebrate any of the milestones during the selling and buying process as I feel like something could go wrong at any second. I'm sorry you couldn't sleep after the survey!

goodbyestranger · 21/05/2021 10:57

Does anyone know:
a) whether most buyers will want a full structural survey even if they've had a mortgage survey (ours does, one taking four to five hours, so a biggie).
b) how long it's taking to book these things at the moment (I've just been given a date for early July)
c) does the survey happen before all the legal stuff (so will there be a delay on getting started with the legal stuff).
Thanks!

MaudBaileysGreenTurban · 21/05/2021 11:14

Hi all, hoping to join this thread as we have finally found a house! We are relocating from London to the Kent coast and the market has been insane...lots of offers made and lots of heartache when we lost out on them, but eventually it came good and we even got it for under asking!

Purchase seems to be ticking along fairly well at the moment - mortgage was approved in 3 days, survey is booked for next week, searches have been requested and we've had the FFF/PIF so first solicitor's enquiries have gone to the sellers.

We are in a small chain - our buyers are developers who are demolishing our house and building flats, so that's all gone through and is pretty much sorted, then our sellers are moving to a chain-free empty property so fingers crossed no nasty surprises. We're due to exchange with our buyers mid-July as the completion date is actually already set for end July.

The only minor complication is our wedding, due to take place at the other end of the country a few days after completion. Nothing like making things even more stressful is there? Grin

overwork · 21/05/2021 11:27

@goodbyestranger - certainly no expert on these things but from a personal point of view
a) yes, perfectly normal. I think these are 2 separate things, the mortgage survey just checks that the house is worth the price the buyers are paying for it, it doesn't look closely for issues with the building. (In fact they can do it from a desk or drive by).
b) took me 2.5 weeks to get one booked in
c) it's nothing to do with the solicitor, I didn't inform them I was having it, and they don't have to see it afterwards. So I hope all the legal stuff was going on in the background at the same time!
@MaudBaileysGreenTurban you're quite mad. What a fabulous and stressful few months you are in for, congratulations!

Panda368 · 21/05/2021 11:31

@goodbyestranger having a full structural might be a requirement of their mortgage offer.

Are they paying for it or are they expecting you to cover it?
Mortgage valuation survey is usually only for the banks benefit and is usually brief so your buyers might want more detail or they are worried about something.

Usually all the legal stuff is going on along side all the surveys etc - I would want to get that confirmed by the agent that they have already instructed solicitor and searches are proceeding. And I would get all searches for your purchase rolling

goodbyestranger · 21/05/2021 11:39

Thank you Panda.

They haven't asked me to cover it nor would I: the house is in immaculate condition but it is old, so I'm pretty worried that while it doesn't feel damp, hasn't slithered into the ground etc etc, something will show up on the survey and then we'll be into re-negotiation.

Everyone who has viewed, plus the agent, comments on how well maintained it is which is why I'm a bit concerned about full structural.

Not even sure what the grades of survey are, but four to five hours Shock. It's not a huge house either!

goodbyestranger · 21/05/2021 11:41

In terms of the legal stuff, the buyer wanted to have his mortgage confirmed before instructing solicitors so now that it's confirmed (this morning), he says he'll instruct solicitors early next week.

goodbyestranger · 21/05/2021 11:46

Thank you overwork too - I was reading backwards!

MaudBaileysGreenTurban · 21/05/2021 11:48

@goodbyestranger we have commissioned a full structural on our purchase even though we probably don't really 'need' it. The house is not particularly old or unusual but for the sake of a couple of hundred pounds extra we (well, DP tbh) felt it was probably worth having something a bit more in-depth.

I would only consider re-negotiation on something that really was pressing and /or dangerous though. All houses have something wrong with them after all...

@overwork, yes, I'm beginning to suspect that we might not be entirely right in the head Grin Thankfully due to covid it's now only a small do so not too much left to organise!

goodbyestranger · 21/05/2021 12:00

MaudBailey'sGreenTurban agree with overwork - but all very exciting/ congrats :)

Caroline147 · 21/05/2021 12:01

Argh- I’m going to lose my mind! Our buyer has been saying she wants to exchange and complete today (the 21st) but hadn’t bothered to chase her solicitor up to confirm it. When we hadn’t heard anything from her solicitor yesterday, we assumed that it wouldn’t be happening and planned our day accordingly.

Now she apparently STILL wants to exchange and complete today, and is ready to move in. I don’t see how completion can happen today, but also feel like I need to rush round getting things ready just in case. Luckily we’ve already moved our stuff into storage but still need to clean etc. Hoping we can at least exchange today 🤞

TheRedHat · 21/05/2021 12:51

omg @Caroline147 that sounds super stressful! I'm amazed you have the mental strength to do the move without expecting it!

our solicitor is apparently sending over all the contracts today to our buyer. No comments since the survey so that's good news but he had read our full structural survey!

still v nervous about the london place - getting it cleaned today properly and then viewings start Monday/Tuesday. Have only given the EA 4 weeks sole agency. Pondering whether I should get a structural surveyor round myself to look at the cracks but then if he found something, I'd have to disclose it so might as well just wait I think!

I had forgotten how much I hate this process!

Themostwonderfultimeoftheyear · 21/05/2021 13:17

Wow Caroline that will be a busy few days!!!

We just had the good news that it looks as though our sellers plan to move into rented so that would end our chain. Will get confirmation either today or Monday. If that is the case they our chain is FTB, our buyer, us and our sellers which isn't too bad.

Newhousehope · 21/05/2021 14:39

Oh jeez @Caroline147 - good luck whatever happens!!

We’ve just managed to get a cancellation for our survey, next week instead of 3 weeks away! IF the vendor can accommodate it.

Highwind · 21/05/2021 15:48

Just found out that our offer on our dream house has been neither accepted nor declined because the old chain is back (it fell through just before exchange and the buyer went AWOL).... they are due to exchange next week.

Feeling really glum, but totally out of our control.

I was really looking forward to getting off the rental trap and owning my own place. :(

Evecob · 21/05/2021 16:00

feeling anxious and deflated... supposed to be exchanging and completing next friday but one last purchase enquiry has really thrown things. I made a separate post about it but nobody has replied, im guessing because it never comes up! I'm just hoping it doesn't stop us from actually purchasing our house.

Rest of chain seem to be ready just this holding things up.

I hate the waiting for solicitors emails for updates!!!

Newhousehope · 21/05/2021 16:01

Oh that sucks @Highwind. I really hate how out of my control the whole process is. Makes me feel even more anxious than I normally am!

Caroline147 · 21/05/2021 18:38

Thanks for moral support, all. Unsurprisingly, no exchange today. Hopefully Monday, with completion next Friday- at least most of the cleaning is done now! Can’t believe our FTB didn’t realise she’d need a few days for the bank to release funds Hmm